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The American Trade Association for Cannabis and Hemp (“ATACH”) held its annual “Captains of Industry” awards Ceremony on December 9, 2020. Honoring three industry titans, ATACH awarded the first ever “Beverage Council Executive of the Year” award to Canopy Growth CEO David Klein, the first ever “Retailer of the Year” award to Trulieve CEO Kim Rivers, and the “Captain of Industry” Award to Green Thumb Industries CEO Ben Kovler.
ATACH President Michael Bronstein began the event with a recap of the association’s progress in 2020. Highlighting its advocacy efforts, Mr. Bronstein commended the work of ATACH’s recently launched CBD Task Force. Lead by Gary S. Kaminsky – the Director of Legal Compliance at Acreage Holdings – the CBD Task Force had a busy second half of 2020, meeting with the White House on FDA’s CBD regulations, drafting responsive comments to both DEA and USDA’s interim final rules on hemp, and consulting with the Canadian Chamber of Commerce on the United Nations’ recent cannabis vote. Mr. Bronstein acknowledged the hard work of ATACH’s Legal Liaison – Neil Willner – for his efforts quarterbacking the CBD Task Force’s comment drafting efforts.
Mr. Bronstein also announced the launch of the ATACH Cannabis Beverage Council which will bring marijuana and hemp beverage producers, manufactures, and distributors together with mainstream beverage companies to advocate for marijuana and hemp drinks as a viable and profitable new marketplace.
“Mood Management, the next phase of the evolution of self-care” – David Klein
Founding Member of the Beverage Council, Adolphus Busch V, introduced Canopy Growth’s CEO David Klein, and awarded him the “Beverage Council Executive of the Year” award. Thrilled to be accepting this inaugural award, Mr. Klein enlightened the audience with his praise for ATACH and his thoughts on this unique market segment. Given the various mood-states provided by everything from energy drinks to green-tea extracts, alcohol to melatonin, cannabis itself can play a role in several different consumer need states and smoothly align with consumer trends, Mr. Klein said. While it’s become clear that not all consumers want to consume cannabis through inhalables, the power of cannabis can be unleashed through beverages, which have already been used to manage moods and emotional states for ages. Already, Canopy Growth has sold over 2 million units under Tweed, Houseplant and Deep Space with strong repurchase rates. David Klein is proudly chosen for unleashing the power of cannabis with the purpose of improving lives, ending prohibition, and strengthening communities.
Learning from Canada’s hurdles, Mr. Klein was optimistic about the work of ATACH’s Beverage Council, saying that while Canada is seeing unintended consequences from their regulatory regime and rapid pace of new regulatory rollouts, Canopy Growth is prepared to support crafting and modifying the regulatory environment.
Mood management is taken to an entirely new level, and the industry is just getting started.
“Building a brand not just for today, but with eye towards the future” – Kim Rivers
Trulieve CEO Kim Rivers was the next award recipient, taking home the first ever “Retailer of the Year” award for Trulieve’s outstanding work in Florida and across the country. In her acceptance speech, Rivers highlighted the exact reason why she was chosen for this new prestigious award. Rivers said Truelieve is dedicated to providing the highest level of cannabis products and customer experience through authentic and reciprocal relationship with their communities, employees, and policies. Trulieve is the brand of choice and loyalty in their home state of Florida. With 90% of medical cannabis patients visiting a Trulieve store and a 79% customer retention rate, Trulieve has earned their oversized market share and ability to open 26 new stores in 2020. As an essential business, Trulieve will continue to deliver its core values including social equity, operating as one team, and maximizing consumer experience both in and outside of the store.
In addition to new safety policies and procedures, Trulieve launched new ways to interact and engage with customers, such as “True Talk” on Facebook Live and new technology to help with ordering, delivery and curbside fulfillment. Trulieve also made substantial personnel and financial investments including hiring over 1,000 employees, instituting salary continuation plans, implementing a home delivery service with no-fee for seniors, investing in air filters, and the list continues. Trulieve will continue to invest in underserved communities, source local material and labor, and partner everywhere they operate.
“Where does this fit into history? This is Prohibition 2.0.” – Ben Kovler
Closing out the event, GTI CEO Ben Kovler was awarded with the “Captain of Industry” award for GTI’s commitment to giving back, creating wellbeing, and enabling opportunity in the cannabis industry. Honored by the award, Kovler said that GTI works with others to focus on consumer wellness, bring criminal hypocrisy in the limelight, and create change through the Green Wave to empower peoples’ lives in a happy, healthy, and comfortable way.
On his vision of the future, Kovler said cannabis is undoubtably a massive industry with drastically underestimated demand, and the next step is finding the best way to get the cannabis to the consumer. GTI is working together with the team to create a consumer staple that fits into the “American experience”.
The cannabis industry in Colorado is a prime example of both the monetary success through tax revenue and the deep impact on the quality of life to consumers. We have a spot at the table now and we are defining history in “Prohibition 2.0”. History doesn’t repeat, it rhymes, and we will be seeing more immense consolidations. During this period of time the “regulatory mote” exists, and there is unprecedented investment opportunity into the American mote story.
Profit and purpose are not on opposite ends of the spectrum. GTI is active in the community by providing opportunities through education, bringing positive change and brand-new overall wealth in communities. GTI is on the path to make a change for the good. The game has started.
ATACH looks forward to continuing to expand its constituents and be an industry advocate and thought leader in 2021.
This presentation will provide an in-depth review of Federal hemp and hemp product rules and regulations and discuss how New York’s proposed hemp cannabinoid regulations fit into the Federal scheme. We will provide an overview of the highlights and hurdles of New York’s proposed rules and the impact these consumer-focused regulations will have on the national hemp and CBD landscape.
Key topics to be discussed:
• 2018 Farm Bill and USDA’s Interim Final Rule
• DEA’s Interim Final Rule regarding hemp products and hemp extracts
• New York oversight and New York State Department of Health’s proposed hemp cannabinoid regulations
• High compliance burden on all NY retailers – including online retailers selling hem products to NY residents – imposed by NY’s new rules.
Date / Time: December 8, 2020
Learn more about the importance of water activity in cannabis and how it applies to quality and safety.
With water activity already part of cannabis regulation in several states, this course is ideal for cultivators, processors, testers, distributors, and anyone interested in the safety of these products.
September 15, 2020 | 1 p.m. ET
Cost: $99 USD
By the end of the webinar you’ll be able to:
- Define water activity correctly in both lay and technical terms
- Compare the difference between water activity and moisture content
- Determine the ideal water activity range for dried flower
- Properly perform a water activity measurement
- Calculate the economic benefit of effective water activity control
Can’t attend on September 15? Register anyway and receive access to the webinar recordings for 7 days.
Dr. Brady Carter is the Chief Science Officer with Carter Scientific Solutions. A specialist in water activity and moisture sorption applications, Dr. Carter has 20+ years of experience in research and development and currently provides scientific support to Novasina AG and Netuec Group. He has taught water activity seminars in over 23 different countries, and provides on-site water activity training for companies worldwide. The developer of the shelf life simplified paradigm and hygrothermal time shelf life model, Dr. Carter is the leading expert in applying water activity to shelf life prediction.
Tuesday, September 15, 2020
2:00 p.m. to 3:00 p.m. Eastern
About the Program
As awareness of the health benefits of CBD grows, professional athletes are voicing their support for the supplement as a safe substitute to help reduce inflammation and manage pain—and many are even investing in CBD or launching their own brands. Despite the World Anti-Doping Agency (WADA) removing CBD from their list of prohibited substances in 2018, many professional sports leagues continue to ban CBD, resulting in market and regulatory complexity for the sports world. This panel discussion will explore the legality of CBD use for professional athletes and provide an overview of the consumer and investor markets for CBD in the sports nutrition and recovery industries. The presentation will be followed by a lively discussion around the role of CBD in professional sports with NBA Hall of Famer Dominique Wilkins, who currently serves as vice president of basketball and special advisor to the CEO of the Atlanta Hawks.
Antony Gordon, Managing Director, MGO
Hershel Gerson, CEO and Managing Director, ELLO Capital
Seth Goldberg, Partner and Team Lead, Duane Morris Cannabis Industry Group
Chris Howard, Vice President, General Counsel & Chief Compliance Officer, E-Alternative Solutions
Dominique Wilkins, Nine-Time NBA All-Star; NBA Hall of Fame Inductee; and Vice President of Basketball and Special Advisor to the CEO, Atlanta Hawks
About the Duane Morris Cannabis Industry Group
Duane Morris attorneys in offices throughout the U.S. and internationally have extensive experience with the wide array of issues attendant to legal cannabis business activities, including licensing for cultivation, processing and dispensing; litigation; banking and finance; raising and deploying capital; mergers and acquisitions; protecting intellectual property; real estate development; public company representation and SEC filings; land use and zoning; healthcare and research; taxation; and cross-border transactions. In addition to advising participants in the medical and adult-use cannabis and hemp/CBD industries, as the industry has grown, Duane Morris attorneys experienced in cannabis-related issues frequently advise clients in other sectors whose businesses intersect with the expanding regulated cannabis sector.
The MGO | ELLO cannabis practice provides a collaborative professional services offering that delivers world-class financial, tax and advisory services focused on empowering cannabis and hemp industry operators and investors to achieve their business goals. Its subsidiary ELLO Capital, a boutique investment bank, provides M&A, capital raising and strategic advisory services to companies and investors in cannabis, hemp and impacted industries. Together the cannabis platform delivers a suite of proven solutions to help operators, regulators and institutional investors navigate these complex industries.
Tuesday, September 15, 2020
2:00 p.m. to 3:00 p.m. Eastern
Cannabis 303: Civil Litigation in the Cannabis Industry:
An Unavoidable Consequence of a Maturing U.S. Cannabis Market
Join us Tuesday, April 21, 2020 | 12:30 p.m. to 1:30 p.m. (Eastern time)
The maturing cannabis industry mirrors other U.S. industries in many ways, including, with increasing frequency, the use of civil litigation to resolve disputes and reward injured parties. However, given the cannabis regulatory structure, cannabis-focused civil litigation raises unique issues. This webinar will highlight the growing number and various types of civil litigation matters that have been filed in the cannabis industry, including CBD-related products liability and consumer fraud cases, performance-related securities litigation, operator partnership disputes, breach of commercial contracts such as supply agreements, trademark infringement actions and employment litigation matters. In addition, the presentation will cover best practices for businesses with respect to preparing for, and possibly preventing, potentially resource-draining, and almost always disruptive, civil litigation matters.
Join us Tuesday, April 21, 2020 | 12:30 p.m. to 1:30 p.m. (Eastern time)
Friday, April 3, 2020 1:00 p.m. – 2:40 p.m. Eastern
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) is the largest stimulus package in American history, providing $2 trillion in essential financial and medical assistance to industries, businesses and individuals affected by this global crisis. Since the early stages, the Duane Morris COVID-19 Strategy Team has been closely monitoring developments and advising clients on the complex legal issues and far-reaching implications of the pandemic. This webinar will review the key provisions of the CARES Act outlined below.
1. Small Businesses and Paycheck Protection Program
Presented by: Nanette Heide & Sandra Stoneman
Small business benefits and protection were at the heart of the CARES Act, specifically with the new Paycheck Protection Program and the Keeping American Workers Paid and Employed Act.
2. Taxes for Private Equity Firms and Portfolio Companies
Presented by: David Sussma
Coupled with IRS Notice 2020-18, the CARES Act further changes this year’s tax landscape. Net business interest deductions, noncorporate tax payments and employee wages are a few of the issues that the Act will alter.
3. Key Individual Provisions
Presented by: Michael Gillen/Steven Packer
We will cover the important individual provisions of the CARES Act and recent IRS Notices that will have a meaningful impact on high-net worth taxpayers and their families, executives, investors, among others.
4. Employee Benefits and Executive Compensation
Presented by: Timothy Collins
The CARES Act contains a number of provisions that will impact an employer’s qualified retirement plans and executive compensation arrangements. Employers are encouraged to identify the provisions of the Act that will help their employees and implement them.
5. Labor and Employment Relief and Restrictions Aspects
Presented by: Meagan Garland
The CARES Act is unprecedented in many ways, including the protections it affords various nonemployee segments of the workforce, such as gig-economy workers, sole proprietors, independent contractors and the self-employed, who never have had many of the protections afforded employees. Equally significant is the relief immediately available to employers to incentivize employee retention, but employers must act quickly and decisively and with an understanding of the restrictions that attach to the potential relief, including relative to laying off or furloughing employees.
Duane Morris and the American Trade Association for Cannabis
and Hemp (ATACH) invite you to the webinar
Wednesday, November 6, 2019 | 12:30 p.m. to 1:30 p.m. (Eastern time)
On October 29, 2019, the USDA established the long-awaited regulatory framework fully implementing the legalization of hemp under federal law in the 2018 Farm Bill. While the new regulations should provide enhanced uniformity in certain areas of hemp production and distribution in the U.S., states may still regulate hemp more stringently than the federal government and differently from one state to another. Duane Morris attorneys and Michael Bronstein, a founder of ATACH, will provide an overview of and answer questions about the new regulatory framework.
Join Us Tuesday, August 20, 2019 | 12:30 p.m. to 1:30 p.m. (Eastern time)
Join us for a review of recent cannabis developments in Illinois, Florida, New Jersey, New York and Massachusetts. Presenters will report on the latest legislation in their state and discuss potential opportunities and challenges.
The Duane Morris Cannabis Industry Group returns with its series of webinars reviewing issues and developments affecting the cannabis industry. Each session will feature a specific topic, discuss the legal and business implications and provide insight on key matters.