Spotlight Series

Jason Sidman CannaBusiness Spotlight

Jason Sidman CannaBusiness Spotlight

The CannaBusiness Advisory Spotlight Series features expert perspectives from Burns & Levinson clients and contacts who are blazing new trails in the cannabis market.

This week we spotlight Jason Sidman, CEO of Sanctuary Medicinals, a vertically-integrated, multi-state cannabis company with operations in Florida, New Hampshire and Massachusetts as well as a medical dispensary license in New Jersey.

From your corner of the cannabis industry, what’s the single greatest challenge right now?

There are many challenges in this industry, as well as many opportunities. From where I sit, one of the most significant challenges is operating across multiple states with different and distinct regulations. What works as a best practice in Massachusetts may not be compliant with regulators in Florida, and this applies to everything from product testing and approvals to opening new locations, wholesale, marketing, and beyond.

How does your business solve issues related to this challenge?

Sanctuary is rapidly expanding into new markets, bringing our high-quality, award-winning products to patients and consumers across multiple states, and we have assembled a strong team to help us navigate state and local regulatory requirements. Every municipality is different, and it’s critical we have the best talent in place to remain … Keep reading

Spotlight Series: Cathy Corby Iannuzzelli, Co-Founder and President of KindTap

The CannaBusiness Advisory Spotlight Series features expert perspectives from Burns & Levinson clients and contacts who are blazing new trails in the cannabis market.

This week we spotlight Cathy Corby Iannuzzelli, Co-Founder, President and Chief Payments Officer of KindTap.

From your corner of the cannabis industry, what’s the single greatest challenge right now?

Without a doubt, the greatest challenge is the conflict in regulations at the state and federal levels. I think of it as “regulatory schizophrenia.” At the state level, cannabis businesses are legal, tax paying companies contributing to the economic and social needs of their communities. At the federal level, they are illegal businesses denied access to mainstream financial services, limited in the legitimate business expenses they can deduct and paying more for just about everything as suppliers increase prices to cover their own risks of serving the cannabis industry. It’s a real credit to the creativity and tenacity of the leaders of the industry – and the value of the product – that the U.S. cannabis market has grown to $30 billion in spite of these challenges.

How does your business solve issues related to this challenge?

KindTap provides compliant digital payment products to consumers … Keep reading

Scott Moskol, Burns & Levinson Cannabis Advisory Group

Scott Moskol, Burns & Levinson Cannabis Advisory Group

Readers, welcome back to the CannaBusiness Advisory blog! It has been a busy last few months as we took a short hiatus from publishing weekly posts. We first launched CannaBusiness Advisory in July 2017, and late last year we hit pause to re-focus our content and manage some large initiatives in our firm’s cannabis business and law advisory practice. Burns & Levinson’s 2021 Annual State of the Cannabis Industry Conference was our biggest and most successful event since we kicked off the conference series five years ago. This was our first in-person cannabis event in Boston since the beginning of the pandemic, and our team was proud to have nearly 200 in-person attendees (vaccinations were required), 60 virtual attendees, 23 expert speakers, and countless connections made. We are hard at work planning our 2022 conference, and in the meantime you can revisit last years’ panels on our YouTube channel.

The spring season is a time of renewal and revitalization. Just as NECANN held its first live Boston event this past weekend, reinvigorating the local cannabis community with the possibilities of the future, we are excited to see where future blog posts take us and our readers with respect to … Keep reading

CannaBusiness Advisory Spotlight William Schreier

CannaBusiness Advisory Spotlight William Schreier

The CannaBusiness Advisory Spotlight Series features expert perspectives from Burns & Levinson clients and contacts who are blazing new trails in the cannabis market.

This week we spotlight William Schreier, Principal and COO of KreditForce.

From your corner of the cannabis industry, what’s the single greatest challenge?

Like many emerging industries, the legal cannabis industry faces various challenges in raising capital efficiently and at attractive terms. The difficulty is even more pronounced in the early stages of a business’s life cycle. Founders, friends and family, and other angel-type investors often provide initial seed capital for the start-up phase. But most businesses exhaust this initial capital well before reaching stability and gaining access to traditional banks or other institutional financing. The vast majority of traditional financial institutions are still unwilling to lend to most aspects of the legal cannabis industry, leaving many cannabis-related businesses (CRBs) with few options to raise non-dilutive debt capital in modest size (e.g., < $20m) just as they are accelerating into their critical growth phase.

How does your business solve issues related to this challenge?

KreditForce LLC is an independent merchant bank dedicated to legal cannabis and related industries that are highly regulated. We … Keep reading