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Harborside Eyes Growth
with Third Financing Deal

Courtesy of Getty Images

Oakland-based company Harborside announced the completion of a $19.65M Series A funding, Harborside's third round of financing. Among the investors who have come back for more are Cresco Capital Partners, UJI Capital, and Quinsam Capital.

The funds arrive just months after Harborside's February reverse takeover of Canadian brand Lineage, a deal Harborside Chairman Emeritus Steve DeAngelo discussed on the WeedWeek podcast.
New Cannabis Ventures

  • Harborside CEO Andrew Berman said the infusion would "allow Harborside to continue pursuing its growth in Northern California and strengthens our strong working capital in advance of our planned listing on the Canadian Securities Exchange."

Quick Hit

  1. Google said delivery apps like Eaze and Weedmaps won't be carried in its Play Store, unless their companies remove the shopping cart flow from their apps. within 30 days. Eaze called it a "disappointing development that only helps the illegal market thrive."
    Android Police

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Former Congressman Joins Bud Trader Board, 'Different Industry' Ideals Die a Little Bit

Courtesy of Getty Images

The jury is out on how former Republican Congressman Dana Rohrabacher will go down in history. Many in 2019's legal weed game -- not to be confused with those who grew this puppy over decades, on the down-low -- will mainly only remember the representative's pioneering work in cannabis.

Those of us who live with the everyday specter of class and race divisions were still weighing the merits of Putin's so-called favorite Congressman, until this week when Rohrabacher announced that he's joining the board of social media company BudTrader.

Now we're wondering if maybe we should just smoke less weed.

  • The 15-term Orange County representative also signed on as an advisor to Colombian grower PharmaCielo. With BudTrader -- whose CEO's politics are similarly Trumpy -- he will also be a shareholder. Rohrabacher said his new industry positions will enable him to "continue the fight for cannabis legalization on a national level."
  • His D.C. achievements include the Rohrbacher-Farr Amendment, which prevents the Justice Department from using federal funds to interfere with state MED programs.
  • He also once submitted a bill that would require at least one parent to be a U.S. citizen before a U.S.-born kid is granted the same status. After George Bush's highly-suspect 2000 Presidential win, Rohrabacher said, “George W. Bush becoming president is just further proof of the existence of God."
  • Sasha Baron Cohen pantsed him over his gun-nut tendencies on Showtime.
  • In February, Rohrabacher tweeted an October Facebook post from BudTrader CEO Brad McLaughlin. The post was titled "Use Industrial Hemp Materials to Build a U.S./Mexico Border Wall Funded by: The Cannabis Industry/Federal Cannabis Tax.” The tweet read, “Kudos to @StephenBannon @erikprince @realDonaldTrump: A HEMP-BASED CONCRETE BORDER WALL a win for USA security & taxpayers, farmers, veterans & environmentalists. Bold thinking! It’s affordable & will work.”
  • Retired members of Congress are treating marijuana like coal or soy beans and conservatives are, perhaps inevitably, flooding the industry. But they lack depth in the field; this doesn't have to be who we are.

Quick Hits

  1. The State Senate passed a bill that would establish a closed payments system, one that would at least enable cannabis businesses to easily pay their taxes and -- possibly -- vendors and employees. It's called the Cannabis Limited Charter Banking and Credit Union Law.
    East Bay Express/Times of CBD
  2. Tomorrow the price goes up on the Hempstaff job webinar. This training course is billed as "a fast paced, 4-hour course with a summary exam at the end." The aim is that at that conclusion you know enough to work in a California MED dispensary.

See through the haze of Cannabis Marketing.

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L.A. Pot Czar on Social Equity:
Not Everyone's Getting In

Photo by Jeremy Bishop on Unsplash

The Los Angeles Department of Cannabis Regulation last week uploaded a social equity workshop video that portends to kick off what "Top" Cat Packer called "the city social equity program that should have always been" with "a realistic and real conversation."

The workshop marked the opening of the licensing program's eagerly anticipated third phase.
L.A. Department of Cannabis Regulation

  • It's excellent timing, as many, including WeedWeek founder Alex Halperin, have branded social equity a failure. Despite setting a template that's gained national momentum, social equity's practical application in California has largely been underfunded and turgid in its movement through state and local governments. It appears that cannabusiness is going to have to take a more active role in the program.
  • Phase Three begins a verification process by which measures applicants eligibility.
  • Packer asked those in attendance to refrain from using the term "black market," on account of its historical connotations. "We have to be very intentional with our language," she said.

MedMen Cuts Costs

Courtesy of Getty Images

L.A.-based retailer MedMen.

This week the company cut costs days after it received an $80M credit line.
Marijuana Business Daily, L.A. Business Journal

  • For the second consecutive quarter, Med Men's sales rose and its losses scaled back. The Los Angeles company reported revenue of $36.6 million and a net loss of $63.1 million for the third quarter.
  • CEO Adam Bierman and President Andrew Modlin cut their salaries to $50,000.
  • The multi-state operator is embroiled in three separate lawsuits.

Cali CBD Drink Deserts
En Route to Obscurity

Photo by Taiana Martinez (Tai's Captures) on Unsplash

Drinks containing CBD being are trendy, beverages with the stuff in them still haven't been easy to find. A bill making its way through Sacramento may change the gridlock and confusion brought on by the federal Food and Drug Administration.
California Leglislature

  • Last week the bill passed through the Assembly Appropriations Committee, unanimously.
  • It would permit the retail sale of hemp-derived CBD in both foods and supplements, regardless of what the FDA decides.
  • Regulation has been "severely limiting Californians’ access to a product that many consumers believe substantially improves their health and wellness,” said Assemblywoman Cecilia Aguiar-Curry (D-Winters), who sponsored the bill.
  • The L.A. Department of Health took a similar step. It becomes effective July 1.

Good Lord, What Have Y'all
Done to Kristen Yoder?

Less than a decade ago, Kristen Yoder was a fresh-fased ambassador for the cannabis industry, working at a Venice dispensary. In 2019 she's the openly embittered host of the Canna B.S Detector podcast.

Let's give ourselves a round of applause, we members of this Differently Shady Kind of Industry, for burning though people like we burn through cash.

  • The 14-year veteran advises newcomers on how to succeed in the California market. "If you don't lower your expectations, she said, "you're going to lose your freaking mind. Because, whether or not we want the industry to be professional, it's not there yet."
  • Yoder also hosts a radio show called Soil to the Oil. She asks guests to focus on their crazy, scary or funny stories. "I'm kind of like don't talk about your positive stories, because that's literally every other show. I want everyone to know it's a shit show."
  • Yoder also serves up straight talk on concentrates. You know? The ones that may do more harm than good but the biz keeps pushing like it's easy as marshmallows. "I love it, dude. I love it. But I can't function on it," she confesses. "And I have a problem." She argues that in 2010 the L.A. vibe shifted after youth began partaking on a large scale. "I gotta tell you, if I was dabbing in high school I don't know where I'd be. It's scary what's going on with the young people, but maybe I'm just an old person." Or a principled one.

Are You Propping Up
White Supremacy?

Photo by Austin Distel on Unsplash

Want to stop coming off like someone who's standing on third base and thinks they've hit a triple? Get less half-assed about interrogating your privilege, like White Fragility author Robin DiAngelo. And if you ain't white tell a white friend.
Teaching Tolerance

  • Illicit weed is plenty diverse. What legal pot has is a diverse service staff; the help is a rainbow. Superficial understandings of how American racism functions makes folks defensive. "When we understand racism as a system that we have been raised in and that its impact is inevitable, it’s really not a question of good or bad," she said. "It’s just, 'I have it. I have been socialized into it.' And so, 'What am I going to do about it?'”
  • "You cannot prove somebody’s intentions. They might not even know their intentions. And if they weren’t good, they’re probably not going to admit that," according to DiAngelo. She stresses guarding against complacency. "The question I ask is, “How does [the act] function?” The impact of the action is what is relevant. 

Santa Rosa Women Winning at Weed: Survival Stories

Photo by Esteban Lopez on Unsplash

Sequence is everything. Take your favorite album. Say it's Tapestry by Carole King. The precise order of the songs are what make the whole remarkable. Consumed in its designed order, a collection of bits gains a truth enhancement that only timing can enhance.

My point, if you've not gleaned it, is that a klatsch of white weed women, this time in Santa Rosa, are surviving. And that's relatively good news.
North Coast Business Journal

  • “I’m pretty sure when I left my job in 2016, if you took a survey of my family and coworkers, zero of them would have said I was starting a cannabis business,” said Fiddler’s Greens and High Tide Distribution CEO and co-founder Shannon Hattan. She was one of five white women relating their travails at the Business Journal’s North Coast Cannabis Industry Conference.
  • Galley Cannabis Manufacturing's Annie Holman asked that more women get into legal cannabis. “Women are full of positivity and optimism and patience, and we need you in the industry,” she said.
  • There will come a time when cannabis event organizers will become embarassed at presenting its industry leadership as Ivory Snow-white. Probably not soon, but possibly before ossification ensues. One hopes.

Weed Deals Gone Bad
Are Still a Thing

Photo by Enrique Alarcon on Unsplash

Two teenagers were shot and one died in a Humboldt County street deal gone wrong. Tayvonne Latimer, 18, was killed and a 16-year old suspect is in custody.
Redheaded Blackbelt

  • "The person they were going to sell marijuana to made a demand that they give him the marijuana, and at that point the buyer pulled out a hand gun from his waistband, and started to fire at three of the victims," said Arcata Police Chief Brian Ahearn.

The Pages of Your Future
Are Written in a Book

Photo by Noitu Love on Unsplash

The best way to contextualize the issues of the day is to learn your history. Crack a damn book sometime.
Cannabis Now

  • Or, maybe this graphic novel by author Box Brown is what you need right now. Brown's narrative explains the origins of prohibition, vividly breaking open for contemplation the War on Drugs

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