As the global economy has come to a halt, a select few industries have actually benefited from the global quarantines and stay-at-home orders.
Grocery stores and wholesalers like Kroger Co (NYSE: KR), Walmart Inc (NYSE: WMT) and Costco Wholesale Corporation (NASDAQ: COST) all saw increases in revenue in March, as did technology companies that enable remote working like Zoom Video Communications Inc (NASDAQ: ZM).
Cannabis is also on that list.
U.S. sales of legal cannabis increased to record levels in March as consumers flocked to dispensaries around the country to stock up on goods. Helping matters is the fact that many states have deemed dispensaries essential businesses, allowing them to stay open and offer delivery services during the pandemic.
This leaves the legal cannabis industry in an interesting spot. On one hand, the fact that the industry has been deemed essential in a time of crisis is a major step forward for the still-nascent industry. On the other, cannabis legalization bills are all but off the table for states in 2020, and this will be the first time the industry will have to contend with a shrinking economy.
The current and future climate legalized cannabis will be discussed Monday at the KCSA Cannabis And Psychedelic Investor Conference. Held in conjunction with the annual national cannabis holiday, executives from 11 public and private cannabis companies will outline how the current climate is impacting their business and what investors can expect going forward.
Below is the schedule for the conference. Each presentation is followed by a virtual Q&A session with attendees and is available on demand.
To attend today’s conference, click here.
9:00 AM ET Field Trip Psychedelics Inc.
Speaker: Ronan Levy, Founder
9:30 AM ET Psybio Therapeutics, Inc.
Speaker: Evan Levine, CEO
10:00 AM ET Eleusis Ltd.
Speaker: Shlomi Raz, Chairman and CEO
10:30 AM ET Back of the Yards Algae Sciences
Speaker: Leonard Lerer, Founder and CEO
11:00 AM ET ATAI Life Sciences AG
Speaker: Florian Brand, Co-Founder & CEO
11:30 AM ET Fire & Flower Holdings Corp. (OTCQX: FFLWF | TSX: FAF)
Speaker: Trevor Fencott, CEO
About: Fire & Flower is a leading purpose-built, independent adult-use cannabis retailer poised to capture significant Canadian market share. The company guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the HiFyre digital platform connects consumers with cannabis products. The company's leadership team combines extensive experience in the cannabis industry with strong capabilities in retail operations.
12:00 PM ET 4Front Ventures Corp. (OTCQX: FFNTF | CSE: FFNT)
Speaker: Andrew Thut, Chief Investment Officer
About: 4Front Ventures Corp. is a US-based cannabis company designed for long-term success and built upon battle-tested operating capabilities at scale, experienced and committed leadership, a strategic asset base, and a commitment to being a magnet for talent. From plant genetics to the cannabis retail experience, 4Front's team applies expertise across the value chain.
12:30 PM ET MariMed Inc. (OTCQX: MRMD)
Speaker: Robert Fireman, Founder and CEO
About: MariMed, a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. The Company develops, owns and manages seed to sale state licensed cannabis facilities which are models of excellence in horticultural principles, cannabis cultivation, cannabis infused products, and dispensary operations. MariMed is at the forefront of science and innovation through research developed by its lab technicians and medical advisors resulting in industry leading products and brands, including "Kalm Fusion" and "Betty's Eddies".
1:00 PM ET The Valens Company (OTCQX: VLNCF | TSX: VLNS)
Speaker: Everett Knight, Executive VP, Corporate Development & Capital Markets
About: Valens GroWorks Corp. is a multi-licensed, vertically-integrated cannabis company focused on being the partner of choice for leading Canadian and international cannabis brands by providing best-in-class, proprietary services including CO2, ethanol, hydrocarbon, solvent-less and terpene extraction, analytical testing, formulation and white label product development. Valens is the largest third-party extraction Company in Canada with an annual capacity of 425,000 kg of dried cannabis and hemp biomass at our purpose-built facility in Kelowna, British Columbia which is in the process of becoming European Union (EU) Good Manufacturing Practices (GMP) compliant.
1:30 PM ET MediPharm Labs Corp. (OTCQX: MEDIF | TSX: LABS)
Speakers: Keith Strachan, President & Director; Laura Lepore, Vice President, Investor Relations & Communications
About: Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. Through its wholesale and white label platforms, they formulate, consumer-test, process, package and distribute cannabis extracts and advanced cannabinoid-based products to domestic and international markets. MediPharm Labs Australia was established in 2017.
2:00 PM ET Tabula Rasa Ventures
Speaker: Marik Hazan, Founder
To attend today’s conference, click here.
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