Connect with us

Cannabis

Parallel and Ceres Acquisition Corp. Announce Business Combination to Create a Publicly Traded U.S. Cannabis Well-Being Company

Avatar

Published

on

Transaction expected to fuel the growth of Parallel’s U.S. footprint and enhance its mission to pioneer well-being and improve quality of life through cannabinoids

Beau Wrigley remaining as Chairman and CEO and Ceres Group Holdings’ Scooter Braun to serve as a Special Advisor

Transaction values Parallel at an implied enterprise value of US$1.884 billion1

Investors commit to an over-subscribed US$225 million private placement at closing; combined public company expected to have US$430 million cash balance at closing

Ceres Acquisition Corp.’s CEO Joe Crouthers to become a director of the combined public company, with an additional slate of 4 independent directors with significant health and life sciences experience

Joint conference call to discuss the proposed transaction today at 9:00 a.m. ET

ATLANTA and TORONTO, Feb. 22, 2021 /PRNewswire/ — Parallel (the “Company”), one of the largest privately-held multi-state cannabis operators in the United States (U.S.) and Ceres Acquisition Corp. (“Ceres”) (NEO: CERE.U, CERE.WT;OTCQX: CERAF), a special purpose acquisition corporation (SPAC), today announced they have entered into a definitive business combination agreement involving a transaction that, if completed, would result in Parallel becoming a public company (the “Transaction”). In addition, a group of investors, led by Ceres and Parallel, have committed to participate in the Transaction through an over-subscribed private investment in public equity (“PIPE”) of US$225 million. Subject to the satisfaction of Conditions (as defined below), the Transaction is expected to close in Summer 2021.

William “Beau” Wrigley Jr., Chairman and CEO of Parallel said: “We believe Parallel is ideally positioned for its next phase of growth, as we continue to build our presence in strategic markets and invest in innovation, R&D and the customer experience. Today’s milestone announcement is a testament to Parallel’s impressive growth to date, the strength of our business fundamentals, strong balance sheet, and above all, our unwavering commitment to further developing and enhancing our portfolio of cannabinoid products.

This transaction will enable Parallel to accelerate existing investments to transform not only our company but also the cannabis industry, as we seek to disrupt the more traditional beverage alcohol and healthcare spaces. As a public company, we will have access to capital to grow our national footprint through new licenses and M&A, improve our cultivation and production capacity, expand our established retail footprint, develop and launch rare cannabinoids products with therapeutic benefits, and conduct important clinical research in partnership with the University of Pittsburgh School of Medicine. We look forward to working with the Ceres team and benefiting from Scooter Braun’s expertise and extensive influencer network to reach our diverse consumers with creative omnichannel approaches that will fuel Parallel’s leadership in the cannabis industry.”

Joe Crouthers, Chairman and CEO of Ceres Acquisition Corp said: “Ceres’ deep cannabis and consumer experience, coupled with Scooter’s powerful network, makes Ceres an ideal partner for a well-positioned, well-led, high growth cannabis company like Parallel. The Ceres team has organized a set of truly unique resources that aims to open the top of the consumer awareness funnel and help fuel growth – from capital to cannabis to marketing to an extensive network in entertainment and access to consumers – we look forward to supporting Parallel’s transition to a publicly traded company.”

Scott “Scooter” Braun, Co-Founder of Ceres Group Holdings said: “I have carefully watched the cannabis industry and Parallel stands out as a leader in the space. With a culture of compliance and strong values, a commitment to social equity, and disciplined growth and innovation, I’m thrilled to work with Parallel. Together, Ceres and Parallel have the experience and reputation to drive growth and create value for all their stakeholders. Beau and his team stand out among the pack and bring to the table their deep experience and business acumen to run a public business of this size and I believe Parallel is primed for massive growth in the sector. I’m honored and excited for the opportunity.”

Summary of Transaction Terms

Ceres has agreed to acquire Parallel at an implied enterprise value of US$1.884 billion, and has received commitments from a group of investors in an over-subscribed PIPE of US$225 million at a price of US$10.00 per share issuable immediately prior to, and conditional on, completion of this business combination with Parallel. Substantial investment in the PIPE came from existing Parallel and Ceres investors, as well as institutions and private family offices in both the U.S. and Canada. The proceeds of the PIPE are intended to be used to fund Parallel’s continued growth and market expansion. 

Following the close of the Transaction and subject to shareholder approval, Beau Wrigley will continue to serve as Parallel’s Chairman and CEO, Scooter Braun will serve as a Special Advisor, and the following individuals will constitute the Board of Directors: 

  • Marina Bozilenko, who has over 30 years of investment banking and other healthcare industry expertise and currently serves as Strategic Advisor to William Blair and Company, where she previously served as Managing Director and Head of Biotech & Pharma;
  • Kevin Douglas, M.D., a biopharmaceutical professional with over 15 years of U.S. and international industry experience, who currently serves as Medical Director of U.S. Rheumatology and Study Designated Physician/Therapeutic Medical Director at Abbvie, Inc.;
  • Sarah Hassan, who was a founding partner of IM HealthScience and acting CFO through the sale of the company to Nestlé HealthScience in 2020, in addition to holding prior positions as a venture capital partner and fund manager;
  • Linda McGoldrick, a global business strategy leader and policy expert in healthcare, who has spent her entire 30-year career working in senior executive and advisory roles, including as CEO and independent board member of numerous healthcare and life sciences companies;
  • Joe Crouthers, Chairman and CEO of Ceres Acquisition Corp., who is a seasoned cannabis investor and entrepreneur who previously worked as a commodities trader and portfolio manager at Goldman Sachs; and
  • Phil Harris, current General Counsel at Parallel, who has experience as a partner across several Chicago based global law firms, where he served as a practice leader and on the management and diversity committees.

This strong slate of expertise in wellness, healthcare, life sciences and branding represents a significant diversity of perspectives across the Board.

The combined publicly listed company is anticipated to have Class A Subordinate Voting Stock and Class B Multiple Voting Stock. The Class B Multiple Voting Stock will have 15 votes per share and will be held by Beau Wrigley and his affiliate entities upon close. The Class A Subordinate Voting Stock will have one vote per share and will be the publicly traded class of stock upon the closing of the Transaction.

The Transaction is subject to the satisfaction of certain conditions (the “Conditions”), including but not limited to the approvals of U.S. state and local regulatory authorities, and the NEO Exchange and Canadian securities regulatory authority approvals, as well as certain third party consents. There can be no assurance that these conditions will be satisfied. The Transaction is also subject to Ceres shareholder approval and Parallel stockholder approval.

Parallel Investment Highlights

  • Proven Business Model, Attractive Valuation and Strong Fundamentals
    • The Transaction values Parallel at an implied enterprise value of US$1.884 billion with expected Net Revenues of US$447 million in 2021.
    • Expected pro forma cash on hand of US$430 million at close, including US$225 million from the PIPE and US$120 million of cash held in Ceres’ escrow account assuming no redemptions.
    • Management team and infrastructure designed to scale for meaningful growth driven by ongoing supply chain innovation and market growth.
  • Strong Presence in High Growth Markets, Complemented by Omnichannel Platform
    • Operations in five states that have potential to see significant growth in cannabis sales, including Florida, Pennsylvania, Massachusetts, Texas, and Nevada.
    • A total of 42 brick and mortar dispensaries drive brand recognition and opportunity to capitalize on market growth.
    • E-commerce infrastructure that supports the next phase of cannabis distribution, including online order-ahead, curbside pickup and home delivery sales, which is expected to drive strong net revenue generation.
  • Robust Research and Development (“R&D”) Platform
    • Parallel believes it is a leader in the production and commercialization of rare cannabinoids with significant therapeutic potential.
    • Parallel has developed cannabinoid research partnerships with renowned domestic and international research institutions.
    • Proprietary and exclusive technologies provide supply and cost advantages over competitors, as well as an expanded portfolio of products with broader therapeutic applications.
  • Track Record of Strategic M&A and Partnerships
    • Parallel has a demonstrated ability to consolidate, having successfully closed multiple transformative and accretive acquisitions which Parallel believes will enable it to efficiently build scale, create cost synergies, and provide new assets to drive growth.
    • Parallel intends to enter into a partnership with COOKIES, a collaboration that will strengthen the Company’s presence in Las Vegas with a well-known consumer retail brand, subject to the review and approval of the Nevada Cannabis Compliance Board.
    • Parallel looks forward to leveraging Ceres’ networks to drive meaningful business opportunities, including the founders of 72andSunny, MGMT, Red Light and others.
  • Dedication to Corporate Social Responsibility
    • Parallel’s commitment to corporate social responsibility (“CSR”) is focused on cultivating well-being with intentionality to benefit our people, customers, communities and the industry at large. Through its many partnerships, Parallel drives CSR through meaningful actions that positively impact the communities where we live and work.
    • This includes partnerships with CultivatED, Cannaclusive, Minority Cannabis Business Association, and CannabisLAB. These collaborations enable Parallel to promote social equity, build community relations, and build upon the positive impact of the cannabis industry.
    • Internally, Parallel has created Employee Resource Groups, launched an employee-giving platform called Parallel Cares, and organized community clean-up efforts as Parallel associates strive to enrich their communities in many ways.
    • Parallel is proud of its diverse employee base, which includes 41% of positions held by females and 37% of positions held by minorities.
  • Unmatched Consumer Goods Expertise and Management Track Record
    • William “Beau” Wrigley Jr. is the former CEO of the Wm. Wrigley Jr. Company, and grew that company to over US$5 billion in revenue with distribution in 180 countries before orchestrating its sale to Mars in 2008 for US$23 billion.
    • Scooter Braun is one of the entertainment industry’s most influential forces with a strong network in consumer industries broadly. His roster of management clients, including some of the biggest pop-culture icons in the world, has a significant fanbase globally across multiple generations, which are increasingly viewing cannabis through a wellness lens.
    • The broader management team has decades of consumer goods, retail, financial services and healthcare experience with both public and private companies.

Advisors

Perella Weinberg Partners LP is serving as financial advisor and Greenberg Traurig LLP and Aird & Berlis LLP are serving as legal advisors to Parallel. Canaccord Genuity Corp. is serving as financial and capital markets advisor and Manatt, Phelps & Phillips, LLP and Stikeman Elliott LLP are serving as legal advisors to Ceres.

Conference Call Information

A call regarding the proposed merger will take place at 9:00 a.m. ET today, February 22, 2021. The call may be accessed by dialing (855)-480-0897 for domestic callers or (469)-565-9982 for international callers. The conference ID is 4779728. Please dial in at least five minutes prior to the start of the call.

A webcast of the call, along with this press release and the investor presentation are available in the “investor” section of the Parallel website at www.liveparallel.com and Ceres Acquisition Corp.’s website at www.ceresacquisition.com.

Additional Information

Ceres has filed today an investor presentation which describes in more detail the proposed transaction and provides a business overview of Parallel. The presentation is available under Ceres’s profile on www.sedar.com and on the U.S. Securities Exchange Commission’s (the “SEC”) website at http://www.sec.gov, as well as on Ceres’ website, www.ceresacquisition.com.

Ceres expects to file with the Canadian securities regulatory authorities in each of the provinces and territories of Canada, except Quebec, a non-offering prospectus containing disclosure regarding, among other things, the Transaction and Parallel assuming completion of the Transaction. Investors and security holders may obtain a copy of the definitive agreements for the Transaction and the prospectus, when filed, under Ceres’s profile on the SEDAR website at www.sedar.com.

In connection with the Transaction, Ceres is expected to file a Form S-4 with the SEC and an information circular with Canadian securities regulators. Ceres and Parallel urge investors, stockholders and other interested persons to read, when available, the Form S-4, including the preliminary prospectus and amendments thereto and the definitive prospectus, as well as other documents to be filed with the SEC and documents (including the prospectus and information circular) to be filed with Canadian securities regulatory authorities in connection with the Transaction, as these materials will contain important information about Ceres, Parallel, the combined public company and the Transaction. Ceres also will file other documents regarding the Transaction with the SEC. Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the SEC by Ceres through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by Ceres may be obtained free of charge from Ceres’ website at www.ceresacquisition.com or by written request to Ceres at Ceres Acquisition Corp., 1925 Century Park East, Los Angeles, California, United States 90067.

The financial information and data contained in this press release is unaudited and does not conform to Regulation S-X promulgated by the SEC. Accordingly, such information and data may not be included in, may be adjusted in, or may be presented differently in, any proxy statement, prospectus or registration statement or other report or document to be filed or furnished by Ceres, Parallel or any entity that is party to the proposed Transaction with the SEC.

Forward Looking Statements

Certain information in this press release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities legislation and U.S. securities law (referred to herein as forward-looking statements), including statements regarding the Transaction and expected future growth. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include, but are not limited to, statements related to activities, events or developments that Parallel or Ceres expects or anticipates will or may occur in the future, statements related to Parallel’s business strategy objectives and goals, and Parallel’s management’s assessment of future plans and operations which are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Forward-looking statements can often be identified by the use of words such as “may”, “will”, “could”, “would”, “anticipate”, ‘believe”, expect “, “intend”, “potential “, “estimate”, “budget”, “scheduled”, “plans”, “planned”, “forecasts”, “goals” and similar expressions or the negatives thereof. Such statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and are based on Parallel’s management’s belief or interpretation of information currently available. Forward-looking statements are neither historical facts nor assurances of future performance. Forward-looking statements in this press release includes statements regarding: the Transaction; Parallel’s expansion strategy and plans to grow its market share in existing and new markets; Parallel’s investment in new technologies and products; the development and expansion of Parallel’s brands; and strategic acquisition opportunities. Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such information is provided, and forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. There can be no assurance that the transactions described herein will be completed or that, if completed, the combined public company will be successful.

Risk factors that could cause actual results, performance or achievement to differ materially from those indicated in the forward-looking statements include, but are not limited to the following: (i) the risk that the Transaction may not be completed in a timely manner or at all, which may adversely affect the price of Ceres’ securities, (ii) the risk that the Transaction may not be completed by Ceres’ qualifying transaction deadline and the potential failure to obtain an extension of the qualifying transaction deadline if sought by Ceres, (iii) the failure to satisfy the conditions to the consummation of the Transaction, including the approval of the Transaction by the stockholders of Ceres and Parallel, as applicable, the satisfaction of the minimum trust account amount following any redemptions by Ceres’ shareholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed Transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement, (vi) the impact of COVID-19 on Parallel’s business and/or the ability of the parties to complete the proposed Transaction, (vii) the effect of the announcement or pendency of the Transaction on Parallel’s business relationships, performance, and business generally, (viii) risks that the proposed Transaction disrupts current plans and operations of Parallel and potential difficulties in Parallel employee retention as a result of the proposed Transaction, (ix) the outcome of any legal proceedings that may be instituted against Parallel or Ceres or their respective, directors, officers and affiliates related to the proposed Transaction, (x) the risk that the combined public company’s securities will not be approved for listing on the NEO Exchange or, if approved, that the combined public company will be able to maintain the listing, (xi) the price of Ceres’ and the combined public company’s securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Parallel operates, variations in performance across competitors, changes in laws and regulations affecting Parallel’s business and changes in the combined capital structure and a return on securities of the combined public company is not guaranteed, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed Transaction, and identify and realize additional opportunities, (xiii) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Parallel operates, (xiv) the risk that Parallel and its current and future collaborators are unable to successfully develop and commercialize Parallel’s products, brands or services, or experience significant delays in doing so, (xv) the risk that the combined public company may never sustain profitability, (xvi) the risk that the combined public company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (xvii) the risk that the combined public company experiences difficulties in managing its growth and expanding operations, (xviii) the risk that the pharmaceutical industry may attempt to dominate the cannabis industry , and in particular, legal marijuana, through the development and distribution of synthetic products which emulate the effects and treatment of organic marijuana, (xix) the agricultural risks related to insects, plant diseases, unstable growing conditions, water and electricity availability and cost, (xx) the risk that may arise because cannabis continues to be a controlled substance under the United States Federal Controlled Substances Act, (xxi) the risk of product liability or regulatory lawsuits or proceedings relating to Parallel’s products and services, (xxii) the risk that the combined public company is unable to secure or protect its intellectual property, (xxiii) tax risks, including U.S. federal income tax treatment, (xxiv) risks relating to the reliance of Parallel on key members of management, (xxv) risks inherent in businesses related to the agricultural industry , (xxvi) risks relating to potentially unfavorable publicity or consumer perception , (xxvi) Parallel may be subject to the risk of competition from synthetic production and technological advances, (xxvii) investors in the combined public company and its directors, officers and employees who are not U.S. citizens may be denied entry into the United States, (xxviii) product recalls, (xxix) results of future clinical research, (xxx) difficulty attracting and retaining personnel, (xxxi) fraudulent or illegal activity by employees, contractors and consultants; information technology systems and cyber-attacks, (xxxii) security breaches, (xxxiii) natural disasters and terrorism risk, (xxxiv) restricted access to banking, (xxxv) risks related to the lending facilities, (xxxvi) risks of leverage, (xxxvii) heightened scrutiny by regulatory authorities, (xlvi) risk of legal, regulatory or political change, (xlvii) general regulatory and licensing risks, (xlviii) Parallel and the combined public company may be subject to the risk of changes in Canadian as well as U.S. federal, state and local laws or regulations, (xlix) limitations on ownership of licenses, (I) Nevada regulatory regime and transfer and grant of licenses, (Ii) regulatory action and approvals from the FDA, (Iii) constraints on marketing products, (liii) anti-money laundering laws and regulation, (liv) the combined public company’s status as an “Emerging Growth Company” under United States securities laws, (Iv) discretion in the use of proceeds, (lvi) subsequent offerings will result in dilution to shareholders of the combined public company, (lvii) voting control, and (lviii) unpredictability caused by capital structure and voting control. Readers are cautioned that the foregoing list is not exhaustive.

Parallel and Ceres undertake no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws.

U.S. Disclaimer

Neither the securities of Ceres nor of Parallel have been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered and sold in the United States except pursuant to an exemption from the registration requirements of the U.S. Securities Act.

Any securities of either Ceres or Parallel sold in the United States will be “restricted securities” within the meaning of Rule 144 under the U.S. Securities Act. Such securities may be resold, pledged or otherwise transferred only pursuant to an effective registration statement under the U.S. Securities Act or pursuant to an applicable exemption from the registration requirements of the U.S. Securities Act.

About Parallel

Parallel is one of the largest privately-held, vertically-integrated, multi-state cannabis companies in the world with a mission to pioneer well-being and improve the quality of life through cannabinoids. Parallel owns and operates retail dispensaries in four medical and adult-use markets: Surterra Wellness in Florida and TexasNew England Treatment Access (NETA) in Massachusetts, and The Apothecary Shoppe in Nevada. Parallel also has a license under its Goodblend brand in Pennsylvania for vertically-integrated operations and up to six retail locations, in addition to a medical cannabis research partnership with the University of Pittsburgh Medical Center. The Company has a diverse portfolio of high quality, proprietary and licensed consumer brands and products including Surterra WellnessCoral ReeferFloat and Heights. Parallel operates approximately 50 retail stores nationwide, including cultivation and manufacturing sites across the four states. The Company, through its Parallel Biosciences division, conducts advanced cannabis science and conducts R&D for new product development in its facilities in Texas, Massachusetts, Florida, and Budapest, Hungary. Parallel follows rigorous operations and business practices to ensure the quality, safety, consistency and efficacy of its products and is building its business by following strong values and putting the well-being of its customers and associates first. Find more information at www.liveParallel.com, or on Instagram and LinkedIn. Any information accessed through Parallel’s website, Instagram or LinkedIn is not incorporated by reference into, and is not part of, this document.

About Ceres Acquisition Corp.

Ceres is a recently organized special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination. For further information on Ceres please visit our website or you can find us on LinkedInTwitter and Instagram.

Contacts

Parallel Media:
Taylor Foxman-Weiner
tfoxman@liveparallel.com

Parallel Investors:
Parallel@fticonsulting.com

Ceres:
Briana Chester
Ceres@mattio.com

All enterprise valuations included in this press release assume a $10.00 valuation of the Ceres stock and that there are no redemptions from Ceres’ escrow account in connection with the closing of the business combination.

SOURCE Parallel

Related Links

http://www.ceresacquisition.com

Source: Cision PR Newswire – Parallel and Ceres Acquisition Corp. Announce Business Combination to Create a Publicly Traded U.S. Cannabis Well-Being Company

Source: https://spacfeed.com/parallel-and-ceres-acquisition-corp-announce-business-combination-to-create-a-publicly-traded-u-s-cannabis-well-being-company?utm_source=rss&utm_medium=rss&utm_campaign=parallel-and-ceres-acquisition-corp-announce-business-combination-to-create-a-publicly-traded-u-s-cannabis-well-being-company

Cannabis

4 Tips to Market Your Marijuana Dispensary

Avatar

Published

on

Even Marijuana Needs Marketing

Marijuana has become a household name. It has already turned that page of history when speaking about weed or smoking it was considered illegal and was punishable. Nowadays, people have a more accepting attitude to the preferences of others and many of them advocate for diversity of opinions and choices. Marijuana, cannabis, and weed, in general, have always been the subject of hot debates, but one thing is clear. People need them for various reasons. Some use marijuana to get that feeling of satisfaction, to feel happy, while others opt for it for recreational purposes. This means that the owners of marijuana dispensaries and shops already have a long-developed customer base. The only thing remaining is to target them carefully and market your product correctly to win their loyalty and trust.

Tip #1. Personal Values

Surprisingly, personal values play a significant role in choosing marijuana over other types of relaxing and recreational activities. Studies have shown that young adults, especially, highly value their health and well-being. However, as this period is probably the most stressful among the others in the human lifespan, young adults very often need something to unwind and have some rest. For these purposes, they can choose weed. Research has shown that young adults consider marijuana healthier than alcohol, and it has become an essential part of their emotional wellness.

Tip #2. Teach New Ways

This can be very applicable to adults and baby boomers. Thinking that marijuana can be interested only to youngsters is the very right step to cutting down a large part of your potential buyers. It turns out that baby boomers have been also interested in marijuana for years; however, they refrained from using it due to societal constraints. As a result, the boomers might not be very well aware of the new and healthier ways to consume marijuana. The best approach here is to advertise and educate boomers on the health benefits of it. On the other hand, it would be great to train your staff to be welcoming to boomers. The latter usually seek information and are very keen on learning and trying something new.

Tip #3. Use Personas in Your Marketing

Personas are a very powerful tool when it comes to marketing. When you do market research, you will see that certain population groups are especially interested in your product. Those groups can be broken down into subgroups based on their gender, occupation, location, etc. For each of them, you can create a persona – a representative figure which accumulates the interests and the motives of these groups in one person. You can name her or him the way you want; the important thing here is that you can consider that persona’s internal frame of reference every time you present a new product. You can use him or her to find out whether that new offer will work for that particular group or not. Based on various reasons, like the frequency of their purchases or benefits they want to get, you can come up with something even better.

Tip #4. Use customized items.

Using custom-printed items would do a great favor to any marijuana dispensary. It is something that helps stand out and promote your business without putting much time and effort into creating something new. Ganjaprint, an all-inclusive store of custom-branded promotions for dispensaries and smoke shops provides a big variety of lighters, bags, matches, grinders, jars and rolling papers, and much more. The best thing about Ganjaprint is that the dispensary-owner can order its logo to be printed on any product, which will make it more recognizable and would differentiate it among the others. For example, Ganjaprint has already come up with designs for refillable custom clipper lighters with a 72-hour rush print offered. Using their website, you can order these lighters or any item that you want choosing the colors and the location.

Marijuana’s Four

By carefully using the tips above any shop owner can make sure that he/she targets the right audience and communicates the products in the right way. On one hand, knowing your customers and speaking in their language would serve the need to win their hearts. On the other hand, applying for the services of Ganjaprint and ordering your unique items will help your product be in use longer than any alternative to it.

Continue Reading

Cannabis

4 Tips to Market Your Marijuana Dispensary

Avatar

Published

on

Even Marijuana Needs Marketing

Marijuana has become a household name. It has already turned that page of history when speaking about weed or smoking it was considered illegal and was punishable. Nowadays, people have a more accepting attitude to the preferences of others and many of them advocate for diversity of opinions and choices. Marijuana, cannabis, and weed, in general, have always been the subject of hot debates, but one thing is clear. People need them for various reasons. Some use marijuana to get that feeling of satisfaction, to feel happy, while others opt for it for recreational purposes. This means that the owners of marijuana dispensaries and shops already have a long-developed customer base. The only thing remaining is to target them carefully and market your product correctly to win their loyalty and trust.

Tip #1. Personal Values

Surprisingly, personal values play a significant role in choosing marijuana over other types of relaxing and recreational activities. Studies have shown that young adults, especially, highly value their health and well-being. However, as this period is probably the most stressful among the others in the human lifespan, young adults very often need something to unwind and have some rest. For these purposes, they can choose weed. Research has shown that young adults consider marijuana healthier than alcohol, and it has become an essential part of their emotional wellness.

Tip #2. Teach New Ways

This can be very applicable to adults and baby boomers. Thinking that marijuana can be interested only to youngsters is the very right step to cutting down a large part of your potential buyers. It turns out that baby boomers have been also interested in marijuana for years; however, they refrained from using it due to societal constraints. As a result, the boomers might not be very well aware of the new and healthier ways to consume marijuana. The best approach here is to advertise and educate boomers on the health benefits of it. On the other hand, it would be great to train your staff to be welcoming to boomers. The latter usually seek information and are very keen on learning and trying something new.

Tip #3. Use Personas in Your Marketing

Personas are a very powerful tool when it comes to marketing. When you do market research, you will see that certain population groups are especially interested in your product. Those groups can be broken down into subgroups based on their gender, occupation, location, etc. For each of them, you can create a persona – a representative figure which accumulates the interests and the motives of these groups in one person. You can name her or him the way you want; the important thing here is that you can consider that persona’s internal frame of reference every time you present a new product. You can use him or her to find out whether that new offer will work for that particular group or not. Based on various reasons, like the frequency of their purchases or benefits they want to get, you can come up with something even better.

Tip #4. Use customized items.

Using custom-printed items would do a great favor to any marijuana dispensary. It is something that helps stand out and promote your business without putting much time and effort into creating something new. Ganjaprint, an all-inclusive store of custom-branded promotions for dispensaries and smoke shops provides a big variety of lighters, bags, matches, grinders, jars and rolling papers, and much more. The best thing about Ganjaprint is that the dispensary-owner can order its logo to be printed on any product, which will make it more recognizable and would differentiate it among the others. For example, Ganjaprint has already come up with designs for refillable custom clipper lighters with a 72-hour rush print offered. Using their website, you can order these lighters or any item that you want choosing the colors and the location.

Marijuana’s Four

By carefully using the tips above any shop owner can make sure that he/she targets the right audience and communicates the products in the right way. On one hand, knowing your customers and speaking in their language would serve the need to win their hearts. On the other hand, applying for the services of Ganjaprint and ordering your unique items will help your product be in use longer than any alternative to it.

source link:platodata

 

Continue Reading

Cannabis

Cannabiz Media Client Spotlight – Shield Compliance | Cannabiz Media

Avatar

Published

on

Be the first to know when new content like this is available!

Subscribe to our newsletter to get alerts about new posts, local news, and industry insights.

Shield Compliance is a comprehensive compliance management platform for banking cannabis-related businesses. The company’s focus is on transforming the way cannabis banks and legal marijuana financial institutions manage risk, comply with regulations, and satisfy operational demands across the United States.

Cannabiz Media recently spoke with Tony Repanich, President and Chief Operating Officer at Shield Compliance, to learn more about how he and his team use the Cannabiz Media License Database to support their business development, data intelligence, and license verification processes.

Why Does Shield Compliance Subscribe to the Cannabiz Media License Database?

Shield Compliance subscribes to the Cannabiz Media License Database for access to reliable industry intelligence and licensing data for the cannabis industry. “We rely on the Cannabiz Media License Database to bring information into our platform,” shares Tony Repanich. “It’s an important part of our license verification process and our licensed data set.”

Thanks to the reliable data in the Cannabiz Media platform, Tony and his team save a significant amount of the time and frustration previously required to find the data they need to do their jobs. 

Tony explains, “There are a lot of states that make it very difficult to get information about the licenses they’ve issued and the enforcement actions they’ve undertaken. Where we can get direct state integration to get data, we do that. However, where we need an additional uplift in terms of boots on the street or boots on the phone and keyboard to get the information from states that are more difficult to deal with, we rely on the Cannabiz Media License Database to bring that information into our platform.”

Bottom-line, Tony says, “The Cannabiz Media team has done a great job bringing together that information and having diligence around filling those gaps.”

What’s Next for Shield Compliance?

A big focus for Shield Compliance in the near future is its new onboarding solution. Tony explains, “We brought our new onboarding solution to market at the end of 2020, and it’s really helping our bankers streamline the onboarding process and creating a much better client experience. We’re really excited to get that in front of more bankers this year.”

With more states legalizing cannabis and launching new cannabis programs, Shield Compliance is focusing on future trends and the evolving industry. “We’re having a lot more conversations with bankers that we’ve never talked to in the past, like New York and New Jersey,” Tony shares. “We’re also having a lot more conversations with bankers about their willingness and ability to lend, which is great for the industry.”

For more information about Shield Compliance and to hear additional insights from Tony Repanich, follow the link and listen to Cannabiz Media’s recent Cannacurio podcast episode featuring Tony as the special guest.

To learn more about how subscribing to the Cannabiz Media License Database can help your business like it helps the team at Shield Compliance, follow the link and schedule a free demo.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cannabiz.media/blog/cannabiz-media-client-spotlight-shield-compliance

Continue Reading

Cannabis

New York Marijuana Legalization Bill Signed By Governor Cuomo

Avatar

Published

on

Following Governor Andrew Cuomo signing into law a bill the state House recently approved, New York has become the 15th U.S. state to fully legalize marijuana for both medicinal and recreational use. Though previous legalization proposals in the state have fallen flat, this bill seems to have enough in it to satisfy most interested parties while ensuring marijuana is completely legal throughout New York. The New York marijuana legalization bill is worth taking a closer look at.

New York Will Work To Repay Communities Hit Hardest By Drug War

Though it may be easy to focus on the attention-grabbing headline that is one of America’s most influential states fully legalizing marijuana, there is much more to New York’s legalization story. The bill signed into law by Governor Cuomo aims at not only legalizing marijuana use, but righting the wrongs of the War on Drugs.  Once recreational sales begin, 40% of all tax revenue generated by the legal marijuana industry will go towards communities, primarily communities of color, which were unequally impacted by marijuana prohibition. According to the New York Times, the new law will ensure that, “people convicted of marijuana-related offenses that are no longer criminalized will have their records automatically expunged.” It is incredibly important to progressives to include equitable solutions to the wrongs caused by the War on Drugs. The New York legalization effort has clearly placed an emphasis on aiding communities most unjustly impacted by the drug war from the outset. Regarding New York’s legalization effort, Democratic majority leader Crystal D. Peoples-Stokes said, “Equity is not a second thought, it’s the first one, and it needs to be, because the people who paid the price for this war on drugs have lost so much.”  While ending prohibition and promoting equity are key, one other necessary component of cannabis legalization is education. Medical Marijuana 411 prides ourselves on providing the highest-quality and most up to date online cannabis education courses. Our Cannabis 101 course will provide you with all of the most current, scientifically-based research into the cannabis plant and its compounds. To check out the rest of our course catalog click here. 

A Massive Win For the Progressive Marijuana Movement

At this point, it seems as though a new state legalizes marijuana for medicinal or recreational use every day. The progressive legalization movement is seeing sweeping victories across the United States as we head into the Summer of 2021. What remains to be seen is if or when the federal government will take some sweeping action in order to be more in line with the majority of states in the Union. This is no longer a fantasy, it is a reality that may not be so far away.

Featured Courses

Cannabis Consultant (Budtender) Certification

Essential Expertise to Advance Your Cannabis Career

More Info

Medical Professional Cannabis Certification

Implement Cannabis Safely in Your Practice

More Info

Comments

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://medicalmarijuana411.com/new-york-marijuana-legalization/

Continue Reading
Esports1 day ago

chessbae removed as moderator from Chess.com amid drama

Fintech4 days ago

Novatti’s Ripple partnership live to The Philippines

Esports3 days ago

Dota 2 Dawnbreaker Hero Guide

Blockchain5 days ago

DFB bringt digitale Sammelkarten auf die Blockchain

Fintech4 days ago

TrueLayer raises US$70m to build the world’s most valuable Open Banking network

Esports3 days ago

Dallas Empire escape with a win against Minnesota at the Stage 2 Major

Esports3 days ago

A detailed look at Dawnbreaker, Dota 2’s first new carry in four years

Blockchain5 days ago

Bitcoin Preis erholt sich nach Drop auf Support bei 55.500 USD

Esports2 days ago

Why did Twitch ban the word “obese” from its predictions?

Esports4 days ago

Dota 2 new hero: A list of possible suspects

Esports5 days ago

How to Unlock the Black Ops Cold War ZRG 20mm Sniper Rifle

Esports5 days ago

Asmongold calls out Twitch after indiefoxx banned four times

Esports3 days ago

Dota 2: Patch 7.29 Analysis Of Top Changes

Esports4 days ago

B-Hopping in CSGO: How to Do It, And Its Uses In a Match

Fintech4 days ago

Cape awarded MVP Grant to kickstart new wave of Open Banking powered business finance tools

Esports5 days ago

Valorant New Map to be Named ‘Breeze’, Leaks Suggest

Esports5 days ago

ALGS commissioner John Nelson on the past, present, and future of Apex Legends esports

Esports3 days ago

xQc calls ZULUL supporters racist for wanting Twitch emote back

Fintech1 day ago

Australia’s Peppermint Innovation signs agreement with the Philippine’s leading micro-financial services provider

Esports4 days ago

Apex Legends tier list: the best legends to use in Season 8

Trending