After nearly seven years of being in the cannabis industry, Belushi's Farm, owned by actor and comedian Jim Belushi, has entered the CBD pet market.
After nearly seven years of being in the cannabis industry, Belushi's Farm has entered the CBD (cannabidiol) pet product market.
In 2015, American actor and comedian Jim Belushi founded Belushi's Farm to operate within Oregon's medical cannabis market.
The farm has grown from 48 plants in 2015 to a now 93-acre cannabis farm.
Belushi tells Hemp Grower he's been "flirting with and examining" CBD for a few years to learn about what's in the oils, distillate, isolate, what works, what doesn't work and more. Still, it wasn't until recently that he decided to segue into the market.
But it's no surprise that entering the CBD market right now is a risk as the industry struggles with oversupply issues. CBD prices have fallen considerably since 2019 after the number of acres grown skyrocketed that year, Hemp Grower previously reported.
Several farmers decreased operations and the number of licensed acres decreased from 511,442 in 2019 to 336,655 in 2020. And last year, only 70,530 acres of hemp were planted—all in an effort to fix the oversupply issue, which remains, Hemp Grower reported. PanXchange, a commodities trading platform that provides baseline prices for hemp, estimates hemp acreage will decline even further in 2021.
So, why did Belushi's Farm enter the CBD market right now?
For Belushi, the answer is simple. While he expressed that he "didn't want to jump in and all of the sudden have the market drop," he strongly believes in the medicinal benefits of the cannabinoid and how it can help consumers.
READ MORE: Jim Belushi’s Cannabis Mission
According to its website, Belushi's Farm was "created as a gateway to healing," and to Belushi, the cannabis market is "all about the medicine," he says.
"I think [cannabis] medicine across the board is not only for Alzheimer's, headaches, PTSD, seizures, backaches and pain, but it also enhances the taste of food, the touch of your lover's skin, the sound of music," Belushi says. "It opens your chest up to the presence of music and rhythm, which is healing to PTSD, but it also makes you feel good. It makes you feel euphoric at times; it lightens you and brings you cultural isolation. That encompasses the wellness of cannabis, and I think hemp can do that even on a more subtle range."
"I believe that hemp CBD is our avenue to the curious new consumer," he adds.
Belushi says he’s seen the medical value of CBD and hemp. For example, he's come across different protocols where CBD products with various CBD and THC ratios can help in easing cancer symptoms, which is why he has decided to start small in the industry.
Belushi explains that his dog, Taro, runs approximately 10 miles a day on the farm and is often sore. So, Belushi says he got oil with both CBG (cannabigerol) and CBN (cannabinol) in it, which he gave to Taro to test if it would help alleviate his pain.
"The great thing about animals is you can't give a placebo; it either works or it doesn't," he says. "And just to see Taro's demeanor and physicality change drastically, I said, 'OK, I'm going to use this oil.'"
Belushi started small and produced 5,000 bottles of k-9ine, a full-spectrum 500 milligram CBD tincture for pets. "I'm just putting my foot in it, testing it out and seeing how it works," he says. "I launched it two weeks ago, and I'm doing very well with it."
While the product is currently only available for sale online, Belushi says the goal is to have it available in dispensaries eventually.
Belushi says he sourced the CBD for the 5,000 test products from a farm in West Salem, Oregon; however, he currently has 2 acres of hemp growing on Iverson Family Farms right outside of Portland.
Belushi says he was looking to partner with the farm because it's family-run.
"They're very diligent; they're old-school; they're hardworking; they grow tulips, and it's a beautiful stretch of property," he said. "And so, I asked to engage with them and grow 2 acres of hemp for this product."
The hemp is in mid-growth, and he says he plans to source the oil for his k-9ine product from there.
Belushi's Farm is currently looking into creating more CBD products for pets; however, he says he plans to go "easy and slow” because of the market’s current “legal gray area.”
“My whole purpose is to create confidence in cannabis and medicine that can help on a pathway to healing families and communities,” Belushi says.
The transaction expands AUDACIOUS's footprint in California following the launch of its LOOS brand.
LAS VEGAS, Sept. 15, 2021 /CNW/ - PRESS RELEASE - CEO Terry Booth has announced Australis Capital Inc., operating as AUDACIOUS, entered into a binding terms sheet on Sept. 14, 2021, to acquire 100% of the issued and outstanding shares of BW Macaw Group, Inc. (Herbs). Herbs has entered into a distribution agreement with EAZE, California's largest legal cannabis delivery and distribution company. Additionally, the company has two contract manufacturers lined up to commence production of the company's products in California. In addition to the retail license that is part of the contemplated transaction, Herbs' business license also includes the ability to cultivate, manufacture (production of derivatives and edibles) and distribute cannabis products.
Completion Subject to Approval – Transaction Terms
Completion of the transaction is subject to the companies entering into a definitive agreement, as well as receipt of all appropriate San Jose municipal and State approvals, including the customary security clearances. AUDACIOUS looks forward to working with the San Jose municipal authorities to obtain the final approvals required towards the completion of this transaction.
The consideration for the transaction is US$5 million, payable in stock, with the deemed value calculated using a 10-day volume weighted average price (VWAP). Upon completion of the transaction, therefore, the company will issue a total of approximately 22.6 million shares.
This is an arm's length transaction. The company will not be taking on any long-term debt. No finder's fee is to be paid in relation to the transaction.
The Herbs dispensary is located in San Jose. Daytime population within a ten-mile radius from the dispensary is 1.7 million people, equating to just below one dispensary per 100,000 people. This compares favorably to the state's average at around two. The dispensary is located in a high-density traffic area at the intersection of three major freeways, further benefiting by being located adjacent to Costco, driving significant traffic to the location. AUDACIOUS intends to rebrand the dispensary and transform it into a platform for further growth in the state.
EAZE is the largest legal delivery service in California and Michigan, with over 800,000 registered customers and over 7 million deliveries completed. Through the agreement, EAZE partners with Herbs to provide delivery services in the San Jose area. As part of the agreement, EAZE will carry 20 SKUs on its San Jose menu, while carrying 15 SKUs on its California-wide delivery platform.
AUDACIOUS Products Now Available in California
In addition to building up general multi-brand inventory for its dispensary, manufacture of the company's value line of Provisions disposable vapes, as well as its 2oz, 100mg THC LOOS shots, which will be carried both by the dispensary and on the EAZE menu. The company anticipates the 1g cartridges to be available to the market this month.
The company has made arrangements with two contract manufacturers to produce AUSA's products, which initially will comprise mainly of GT's Tsunami and Provisions brand lines. GT has won coveted awards for its products, including the High Times Cup, Patient Choice and the Jack Herer Cup. Manufacturing of the company's products has commenced to ensure ample inventory is available upon AUDACIOUS taking over operation subsequent to approval by city and state regulatory agencies.
The company will also be introducing its new 1gram disposable, rechargeable cartridges in California. The new cartridges, fully customized to Provisions standards, will deliver a high potency, high quality product at a price point that delivers strong value for money, while still producing very substantial gross margin for the company. The new 1g format is differentiated through its form factor, potency, value and capacity. Anticipating this new format to be popular, AUDACIOUS's new distribution partner EAZE has ordered the complete range of flavors for each of its distribution hubs in California.
The new cartridges will be available in six flavors:
"We are very excited about our expansion in California through a compellingly valued transaction that sees us establish a brick-and-mortar presence in an underserved market, while teaming up with EAZE, one of the marquee names in the industry with over 800,000 registered customers," said Booth. "Consequently our EAZE partnership, we will be able to provide consumers throughout California with access to our award-winning brands, including our LOOS shots and our new 1g disposable cartridge format, which will be available in our dispensary and on the Eaze menu shorty. Additionally, coming with a license allowing manufacturing and cultivation, this transaction, once closed, will provide us with the option to scale up operations throughout the value chain to capture higher margins. The transaction will accelerate our revenue growth, while reflecting our ongoing execution towards becoming a tier one MSO."
Posting a decisive victory, Gov. Gavin Newsom declares Californians said ‘yes’ to diversity and inclusion.
Earlier this summer, California Democratic Gov. Gavin Newsom faced uncertainty in serving out the remainder of his four-year term, which meant the future of the state’s cannabis industry also faced uncertainty.
While California rides heavily blue during elections, a late-July poll revealed the race for the Sept. 14 gubernatorial recall election was tightening and voters in support of removing Newsom from public office more energized. At that time, 50% of likely recall voters wanted to keep Newsom and 47% wanted him gone.
But Newsom picked up steam in the weeks after and kept his seat by a landslide Tuesday night, delivering a 28-point victory with 70% of precincts reporting as of Wednesday morning to stymie a Republican-backed effort that was sponsored by those who are “no friends of cannabis or criminal justice reform,” California NORML Director Dale Gieringer said in a news release last week.
With roughly 64% of voters casting “no” ballots to the recall (with 70% of precincts reporting), Newsom claimed a victory that was more convincing than the 2018 gubernatorial election, when he sailed to office by 24 points over Republican opponent John Cox.
Less than an hour after the polls closed Tuesday night, Newsom gave a victory speech to his supporters and said:
“It appears we’re enjoying an overwhelmingly no vote tonight here in the state of California. But ‘no’ is not the only thing that was expressed tonight. I want to focus on what we said yes to as a state. We said yes to science. We said yes to vaccines. We said yes to ending this pandemic. We said yes to people’s right to vote without fear of fake fraud or voter suppression. We said yes to women’s fundamental constitutional right to decide for herself what she does with her body. We said yes to diversity. We said yes to inclusion. We said yes to pluralism. We said yes to all those things that we hold dear as Californians and I would argue as Americans—economic justice, social justices, racial justice, environmental justice, our values where California’s made so much progress. All of those things were on the ballot this evening.
“And so, I’m humbled and grateful to the millions and millions of Californians that exercised their fundamental right to vote and express themselves so overwhelming by rejecting the division, by rejecting the cynicism, by rejecting so much of the negativity that’s defined our politics in this country over the course of so many years.”
While Newsom defeated the recall attempt driven by GOP criticism of his COVID-19 policies—sparked by stay-at-home orders and other restrictions—those tied to the cannabis industry had a vested interest in him keeping power.
RELATED: California Cannabis Players Endorse ‘No’ Vote on Gubernatorial Recall Election
Since assuming office Jan. 7, 2019, Newsom has advanced measures to expand on-site consumption and licensed cannabis events; promote equity applicants; afford business tax deductions; allow billboard advertising; and improve and streamline the state’s burdensome regulatory system, according to California NORML.
Earlier this year, Newsom approved legislation to simplify California’s regulatory scheme by consolidating three agencies into one. He helped provide relief extensions on provisional cultivation licenses awaiting California Environmental Quality Act (CEQA) review. And he supported a $100-million grant to, in part, aid local businesses in passing that review.
Newsom also deserves credit for declaring cannabis to be an essential service during the onset of COVID-19 government shutdowns, “a move mocked by critics and recall proponents,” Gieringer said.
Newsom carried California’s most populated counties Tuesday, including Los Angeles, San Diego, Orange, Riverside and San Bernardino—all in the southern part of the state. Most of the counties he did not win were in Central and Northern California.
In the Emerald Triangle, where cannabis cultivation has a long, storied history known to the world, Newsom carried Humboldt and Mendocino counties by rout, while less-populated Trinity County voted in favor of removing him by an 8-point margin with 82% of precincts reported as of Wednesday morning.
Many California cannabis businesses, especially small farms in that region, are currently going through hard times and Newsom has been blamed for many of the struggles, said Jared Schwass, who practices law in the cannabis space as the founder of Schwass Law Firm. Schwass was born and raised in Mendocino County.
“However, he was elected governor in 2019 and it was Jerry Brown, not Gavin Newsom, who implemented the voter initiative Prop. 64 and passed the current cannabis law,” Schwass said. “As such, Gov. Newsom has received criticism for Gov. Brown’s decisions and policymaking.”
Among the 46 replacement candidates who ran a separate race if Newsom was recalled, conservative talk radio host Larry Elder was the frontrunner with roughly 47% of votes cast in his favor as of Wednesday morning.
Elder hinted at a 2022 run for governor following Tuesday’s early results.
“Let’s be gracious in defeat,” he said to his supporters. “And, by the way, we may have lost the battle, but we are going to win the war.”
This payroll processing partnership adds features for the cannabis industry, including direct deposit, automated payroll tax calculation, payment, filing, accounting system integration, online employee access and self-service, labor distribution, and job costing.
SAN FRANCISCO, Sept. 15, 2021 /PRNewswire/ -- PRESS RELEASE -- StandardC has announced the addition of a leading payroll and benefits provider to its growing network of banking, lending, insurance and financial services that are available to compliant cannabis businesses.
"Until now, the cannabis industry has had limited payroll and benefits solutions, leading to a host of problems ranging from the inability to process a direct deposit for their employees to the failure to timely pay payroll taxes. We are delighted that our technology and expertise have enabled this national payroll provider, in addition to multiple banks and credit unions, to meet the growing needs of the cannabis industry," said Robert Mann, CEO and co-founder of StandardC.
This payroll processing partnership adds features for the cannabis industry, including direct deposit, automated payroll tax calculation, payment, filing, accounting system integration, online employee access and self-service, labor distribution, and job costing. Other key features include HR information system, employee onboarding, recruiting / applicant tracking, job board integrations, ACA compliance, COBRA, Cal Savers data feeds, and benefits administration with carrier connections. Cannabis companies now have access to time and attendance monitoring that satisfies state wage and hour requirements and monitoring employee covid vaccine and testing status. Beyond those basics that other industries take for granted, our new partner can provide fully outsourced payroll and HR—allowing the cannabis industry to expand and scale by focusing on its core functions. Employers are facing increased federal, state, and local HR mandates, in addition to the federal, state, and local cannabis industry laws and regulations. The new partner has a dedicated cannabis consulting and service team ready to help at their standard pricing —no overcharging the cannabis industry.
StandardC helps cannabis-related businesses with far more than payroll with its proprietary universal application for banking, insurance, lending, and payroll services. "Partnering with StandardC is helping entrepreneurial companies to scale and reach their potential in the market," said Erin Gore, CEO and founder of the Garden Society. "By transforming how the cannabis industry obtains financial services while automating how financial institutions fulfill their regulatory obligations, StandardC is solving a major dilemma for many of us."
The cannabis technology company has introduced a turnkey option for retailers.
BROOMFIELD, Colo., Sept. 15, 2021 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Alpine IQ, a data and marketing solutions provider for cannabis retailers, today announced the launch and availability of native apps. With carrier filtration continuing to limit the ability of dispensaries to connect with their customers through traditional marketing methods, Alpine IQ’s customizable native apps solution provides a secure, highly-personal marketing channel.
“We’re excited to bring to life native apps for our retail customers, which they can leverage to drive unmatched customer loyalty,” said Nicholas Paschal, co-founder and CEO of Alpine IQ. “So many brands place their trust in a marketplace app where you and your programs are listed side by side with other retailers. You don't want to have a race to the bottom on margins or max points and you don't want your push notifications trapped in an app that has your competitors in it. Additionally, our native app enables brands to circumnavigate any current and forthcoming compliance issues, as Alpine IQ is on the forefront of data-driven solutions with compliance in mind.”
The native apps are some of the many capabilities in Alpine IQ’s suite of data-driven solutions, empowering retailers to fully own their customers’ brand experience. These products and capabilities include data management, compliance automation, omni-channel messaging, audience segmentation and more.
Cannabis Business Times’ interactive legislative map is another tool to help cultivators quickly navigate state cannabis laws and find news relevant to their markets. View More