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TILT Holdings Provides Preliminary Fourth Quarter Results, Operational Highlights and 2021 Outlook

Jupiter Q4 2020 revenues return to pre-COVID levels Standard Farms extraction capacity increased by 100% during Q4 2020 CAC lab and kitchen production capacity increased by 100% during Q4 2020 PHOENIX, Feb. 17, 2021 (GLOBE NEWSWIRE) — TILT Holdings Inc. (“TILT” or the “Company”) (CSE: TILT) (OTCQX: TLLTF), a provider of business solutions to the global cannabis industry that […]

The post TILT Holdings Provides Preliminary Fourth Quarter Results, Operational Highlights and 2021 Outlook appeared first on CannabisFN.

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Ryan Allway

February 17th, 2021


Jupiter Q4 2020 revenues return to pre-COVID levels

Standard Farms extraction capacity increased by 100% during Q4 2020

CAC lab and kitchen production capacity increased by 100% during Q4 2020

PHOENIX, Feb. 17, 2021 (GLOBE NEWSWIRE) — TILT Holdings Inc. (“TILT” or the “Company”) (CSE: TILT(OTCQX: TLLTF), a provider of business solutions to the global cannabis industry that includes inhalation technologies, cultivation, manufacturing, processing, brand development, distribution and retail, announced preliminary financial results and operational highlights for the fourth quarter ended December 31, 2020 (“Q4 2020”) and full year outlook for 2021. All financial information is unaudited and provided in U.S. dollars except where otherwise indicated.

Projected Preliminary Financial Highlights:

  • Q4 2020 revenue is projected to be between $42.2 million and $43.2 million, compared to Q3 2020 revenue of $40.4 million
  • Q4 2020 Adjusted EBITDA is projected to be between $2.6 million and $3.6 million, compared to Q3 2020 Adjusted EBITDA of $2.8 million
  • Pro-forma Q4 2020 revenue excluding the Company’s former subsidiary, Blackbird, is projected to be between $41.3 million and $42.3 million, compared to Q3 2020 pro-forma revenue of $39.1 million
  • Pro-forma Q4 2020 Adjusted EBITDA excluding the Company’s former subsidiary, Blackbird, is projected to be between $4.6 million and $5.6 million, compared to Q3 2020 pro-forma Adjusted EBITDA of $5.4 million
  • $7.4 million cash balance as of Dec. 31, 2020, compared to $4.3 million at Sept. 30, 2020

Fourth Quarter 2020 Operational Highlights:

  • Jupiter Research LLC’s (“Jupiter”) power supply revenue doubled from Q3 2020 to Q4 2020; revenues during the quarter reached pre-COVID levels
  • Commonwealth Alternative Care, Inc.’s (“CAC”) lab and kitchen production capacity increased 100% during the quarter; cultivation expansion approved October 2020 planted during Q4 2020 and expected to yield first harvest in March 2021
  • Standard Farms, LLC (“Standard Farms”) doubled extraction processing capacity during the quarter; introduced six new manufactured product offerings

Full Year 2021 Outlook:

2021 strategic initiatives fully funded; outlook not expected to require significant CAPEX or M&A.

  • Revenue range of $205 million to $210 million
  • Adjusted EBITDA range of $30 million to $32 million

Management Commentary:

“2020 was a transformative year for TILT, as the Company reimagined what an MSO could look like,” said Gary Santo, president of TILT. “We finished the year with a strong fourth quarter that saw continued improvement in harvest yields and production efficiencies at our plant touching assets, and a return to pre-COVID revenue levels in our inhalation business. The added flexibility created by the divestiture of Blackbird during the quarter has positioned TILT to enter 2021 with additional resources and improved cash flow from operations that can be reinvested in core growth initiatives, such as research and development, expanding cultivation and contract manufacturing and wholesale operations.”

Mr. Santo added, “January has seen Jupiter ship over five million cartridges, a new Company record, and based upon our solid performance in the fourth quarter and a strong start to the new year, we are pleased to release full year 2021 revenue guidance of $205 million to $210 million and full-year 2021 adjusted EBITDA guidance of $30 million to $32 million. We look forward to delivering value to our shareholders through improved messaging and relentless execution of our strategic vision.”

About TILT
TILT helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 35 states in the U.S., as well as Canada, Israel, Mexico, South America and the European Union. TILT’s core businesses include Jupiter a wholly owned subsidiary and leader in the vaporization segment focused on hardware design, research, development and manufacturing; and cannabis operations CAC in Massachusetts and Standard Farms in Pennsylvania. TILT is headquartered in Phoenix, Arizona. For more information, visit www.tiltholdings.com.

Non-IFRS Financial and Performance Measures
In addition to providing financial measurements based on International Financial Reporting Standards (“IFRS”), the Company provides additional financial metrics that are not prepared in accordance with IFRS. Management uses non-IFRS financial measures, in addition to IFRS financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate the Company’s financial performance. These non-IFRS financial measures are EBITDA and Adjusted EBITDA.

EBITDA and Adjusted EBITDA are financial measures that are not defined under IFRS. The Company uses these non-IFRS financial measures, and believes they enhance an investor’s understanding of the Company’s financial and operating performance from period to period, because they exclude certain material non-cash items and certain other adjustments management believes are not reflective of the Company’s ongoing operations and performance. The Company calculates EBITDA as net income (loss), plus (minus) income taxes (recovery), plus (minus) interest expense (income), plus depreciation and amortization expense. Adjusted EBITDA excludes certain one-time non-operating expenses, as determined by management, including stock compensation expense, unrealized gain/loss on changes in fair value of biological assets, fair value changes in biological assets included in inventory sold and business acquisition expense. There are components of fair value of biological assets and other one-time non-operating expenses required for the reconciliation of Adjusted EBITDA to Net Income that are currently in the process of finalization. Therefore, a reconciliation of the range of Adjusted EBITDA to net income will be provided when actual results are released.

Management believes that these non-IFRS financial measures reflect the Company’s ongoing business in a manner that allows for meaningful comparisons and analysis of trends in the business, as they facilitate comparing financial results across accounting periods and to those of peer companies. Management also believes that these non-IFRS financial measures enable investors to evaluate the Company’s operating results and future prospects in the same manner as management. These non-IFRS financial measures may also exclude expenses and gains that may be unusual in nature, infrequent or not reflective of the Company’s ongoing operating results.

As there are no standardized methods of calculating these non-IFRS measures, the Company’s methods may differ from those used by others, and accordingly, the use of these measures may not be directly comparable to similarly titled measures used by others. Accordingly, these non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Accounting Constructs and Unaudited, Unreviewed Status of Financial Information
The financial information included in this press release is not required for any regulatory purpose and is therefore provided solely for additional investor guidance. All financial information provided is neither audited nor reviewed. Where possible the information has been constructed by management from available audited or audit reviewed financial statements. Where no audited or audit reviewed information has been available, additional management accounting information has been utilized to construct the financial information.

Forward-Looking Information

This news release contains forward-looking information based on current expectations. Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward looking information may include, without limitation, projections regarding fourth quarter 2020 financial results and 2021 full-year outlook the expected timing of CAC’s first harvest yield, the opinions or beliefs of management, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of TILT, and includes statements about, among other things, future developments, the future operations, strengths and strategy of TILT. Generally, forward looking information can be identified by the use of forward-looking terminology such as “projects”, “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These statements should not be read as guarantees of future performance or results. These statements are based upon certain material factors, assumptions and analyses that were applied in drawing a conclusion or making a forecast or projection, including TILT’s experience and perceptions of historical trends, the ability of TILT to maximize shareholder value, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.

This press release also contains future oriented financial outlook and financial information (collectively, “FOFI”) within the meaning of applicable Canadian securities laws. The FOFI included herein has been approved by management of TILT as of the date hereof to demonstrate TILT’s current expectations regarding the future financial results of the Company. TILT believes that the FOFI has been prepared on a reasonable basis, reflecting best estimates and judgments, and based on a number of assumptions that TILT’s management believes are reasonable under the current circumstances. However, because this information is highly subjective and subject to numerous risks, including the risks discussed above, it should not be relied on as necessarily indicative of future results. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the FOFI prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although management of TILT has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended.

Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that it will be completed on the terms described above and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. TILT assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

By its nature, forward-looking information is subject to risks and uncertainties, and there are a variety of material factors, many of which are beyond the control of TILT, and that may cause actual outcomes to differ materially from those discussed in the forward-looking statements.

For additional information regarding forward-looking statements and their related risks, please refer to the “Risk Factors and Uncertainties” section in the Management Discussion and Analysis of the Company for the quarter ended on September 30, 2020, which is available on the Company’s SEDAR profile at www.sedar.com.

The CSE has neither approved nor disapproved the contents of this news release.

Investor Relations Contact:
Taylor Allison
[email protected]

Media Contact:
Ellen Mellody
[email protected]
570-209-2947

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Source: https://www.cannabisfn.com/tilt-holdings-provides-preliminary-fourth-quarter-results-operational-highlights-and-2021-outlook/

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Rest In Peace, Peggy Noonan: Rebel, Businesswoman, Certified Cannabis Trailblazer

Peggy Noonan, founder of the Arizona-based edibles company Copia, has passed away.

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The cannabis world has its flags at half mast today, as we say goodbye to legendary member of the cannabis community, Peggy Noonan.

Peggy Noonan was best known as CEO and founder of Copia, formerly known as Cornucopia Health and Wellness, an Arizona-based edibles company that helped pave the way for legal cannabis and high-quality products in her home state. She passed away on April 10 following four years of coping with a leukemia diagnosis.

For the past 10 years, Noonan has been focused on helping build Copia, a company that can boast the first scratch-made edibles kitchen in Arizona and famous for their wittily named and tasty products like OGeez! Gummies, K.I.N.D. concentrates, Weedish Fish, German chocolate brownies, and a line of Tommy Chong cannabis. Noonan left her mark on the cannabis industry with the creative and prolific work she did. 

“For those who knew my mother, it goes without saying that she loved this company and the Arizona community, and bringing the passion she put into the company to others,” said Bran Noonan, who will step into Peggy’s former role in the company, according to a press release. “My mother possessed an unmatched entrepreneurial spirit, and as the company moves through 2021 and beyond, we will do so in her honor and by continuing to build upon her legacy.” 

Bran will bring over a decade of industry experience to the table, as well as unique skills he developed in his history as a commercial and business lawyer.

Peggy Noonan first went public with her acute myeloid leukemia diagnosis in 2017, and since then, has been fighting the debilitating disease.

Peggy Noonan: From Drug Runner To CEO

While Noonan’s obituary for the most part reads like most successful cannabis folks gone too soon, there’s a definite twist of rebellion. Before cannabis became legal in Arizona, she was a drug dealer, running drugs between the U.S. and Mexico. This illegal business venture landed her behind bars in Mexico and then on federal probation back in Arizona. However, she left that life behind eagerly to join the legal industry and make an honest living through gummies, brownies, and tinctures.

“It was pretty wild, life coming full circle,” Noonan said regarding her history in the industry and how it contrasts with where she ended up. 

In 2017, the same year she was diagnosed with cancer, Noonan changed the name of the company from Cornucopia Health and Wellness to Copia, a rebrand that will help her organization stay current and her name to live on.

“I especially want to acknowledge and thank everyone in the MMJ Community for your care, kind texts, and support—and particularly, your creation of Team Peggy with T-shirts,” she said in her thank-you letter the community. “You have been extraordinary, and It has made a profound difference in my fight against cancer. You have all been part of the tremendous success of my ongoing treatment and recovery.

“My health and business have been inspired by this fast, furious and mind-blowing experience. And what I chose to put in the Universe from the moment of diagnosis and moving forward is to be Magic and Miracles, Health, Love and Light.”

Peggy Noonan will be missed in the wonderful world of legal weed, but she will not be forgotten, as her contributions from before cannabis became legal up through the successful company she started will continue to live on. 

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Source: https://hightimes.com/news/peggy-noonan-rebel-cannabis-trailblazer/

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Sugarbud Announces Launch of Trading on the US OTCQB Venture Market

CALGARY, Alberta, April 13, 2021 (GLOBE NEWSWIRE) — Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.DB, SUGR.WR, SUGR.WS, SUGR.WT) (OTCQB: SBUDF) (“Sugarbud” or the “Company“) is pleased to announce that after successfully completing the application process, the Company has been approved by FINRA for quotation in the U.S. The Company’s common shares have been upgraded from […]

The post Sugarbud Announces Launch of Trading on the US OTCQB Venture Market appeared first on CannabisFN.

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Ryan Allway

April 13th, 2021


CALGARY, Alberta, April 13, 2021 (GLOBE NEWSWIRE) — Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.DB, SUGR.WR, SUGR.WS, SUGR.WT) (OTCQB: SBUDF) (“Sugarbud” or the “Company“) is pleased to announce that after successfully completing the application process, the Company has been approved by FINRA for quotation in the U.S. The Company’s common shares have been upgraded from the OTC® Pink Open Market to the OTCQB Venture Market effective today, April 13th, 2021, at the opening of the market under the stock symbol “SBUDF” and will remain listed on the TSX Venture Exchange under the ticker symbol “SUGR”. The Company is also in the process of completing its application for eligibility with the Depository Trust Company (“DTC”).

“Being quoted on the OTCQB market will significantly enhance our visibility and make the Company accessible to a much broader range of U.S. investors. The quotation on the OTCQB market is expected to increase liquidity by providing current and potential investors with a transparent and easily accessible trading platform where they can find Real-Time quotes and market information on the Company,” stated Sugarbud CEO, John Kondrosky.

READ CORPORATE INVESTOR DECK HERE

The OTCQB Venture is the premier marketplace for companies that are committed to providing a high-quality trading and information experience for their U.S. investors. Qualifying for approval to trade on the OTCQB requires a company to be current on disclosure obligations, to pass a minimum bid price test, and to provide an annual company verification and management certification process. The OTCQB quality standards create a solid baseline of transparency, as well as the technology to improve the information and trading experience for investors.

The Company also announces that, pursuant to the terms and conditions of its stock option plan, it has granted a total of 12,800,000 stock options to purchase common shares of Sugarbud (“Shares”) to certain directors, officers and advisors of Sugarbud. The options expire five years from the date of grant and are exercisable at a price of $0.05 per Share. The options vest as to one third on the grant date and one third on each of the first and second anniversaries of the grant date.

The Company also announces that it has entered into shares for services agreements with certain directors and an advisor of the Company, pursuant to which Sugarbud will issue a total of 2,650,000 Shares at a deemed price of $0.05 per Share in satisfaction of accrued portions of the cash retainers owing to such persons in the aggregate amount of $132,500 (the “Transaction“). The Shares to be issued in connection with the Transaction will represent approximately 0.47% of the issued and outstanding Shares of Sugarbud on a post-Transaction basis.

The Transaction is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements of MI 61-101 on the basis that the fair market value of the Shares issued under the Transaction does not exceed 25% of the market capitalization of the Company.

The Transaction is subject to the approval of the TSX Venture Exchange (the “TSXV”) and the Shares issued in connection therewith will be subject to a statutory 4-month hold period.

About Sugarbud

Sugarbud is an Alberta-based, consumer-driven boutique craft cannabis company focused on the cultivation and production of superior, select-batch, craft cannabis products. Our vision and mission are to become a trusted and well-respected consumer brand renowned for providing exceptional high-quality craft cannabis products to legal markets by delighting the most discerning of cannabis consumers.

The Sugarbud Craft Cannabis Collection offers consumers “Hand-Crafted Cannabis for a New Era”. The Company is proudly Albertan and is proud to share Western Canada’s long tradition of exceptional craft cannabis with the most discerning of enthusiasts. Sugarbud strives to define the intersection of product craftsmanship, quality, and value for consumers in the Canadian craft cannabis space.

Investor Relations Contact
Chris Moulson
Chief Financial Officer
Sugarbud Craft Growers Corp.
Tel: (778) 388-8700
E-mail: [email protected]

Websites:
http://www.sugarbud.ca/

Address: Suite 620, 634 – 6th Avenue S.W., Calgary, Alberta T2P 0S4

Forward Looking and Cautionary Statements

This news release contains forward-looking statements. More particularly, and without limitation, this news release contains statements concerning: Sugarbud’s assessment of future plans and operations and the Transaction, including TSXV approval. When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Sugarbud. Forward-looking statements are subject to a wide range of risks and uncertainties, and although Sugarbud believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: currently contemplated expansion and development plans may cease or otherwise change; production of cannabis may be lower than expected, Sugarbud may not obtain the required approvals from Health Canada, including with respect to an amended sales license; demand for Sugarbud’s products may be lower than anticipated; results of production and sale activities; results of scientific research; changes in prices and costs of inputs; demand for labour; demand for products; failure of counter-parties to perform contractual obligations; failure to maintain consumer brand recognition and loyalty of customers; reliance on relationships with wholesalers and retailers for distribution of products and failure to maintain strategic business relationships; intense competition, including from illicit sources; uncertainty and continued evolution of markets; product liability litigation; reliance on information technology; infringement on intellectual property; failure to benefit from partnerships; sensitivity of end-customers to increased sales taxes and economic conditions; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; actions and initiatives of federal and provincial governments and changes to government actions, initiatives and policies and the execution and impact thereof; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; construction delays; risks inherent in the agricultural business, such as insects, plant diseases and similar agricultural risks which can have a significant impact on the size and quality of the harvest of cannabis crops; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by Sugarbud with securities regulatory authorities. In addition, the Company cautions that current global uncertainty with respect to the spread of the COVID-19 virus and its effect on the broader global economy may have a significant negative effect on the Company. While the precise impact of the COVID-19 virus on the Company remain unknown, rapid spread of the COVID-19 virus may have a material adverse effect on global economic activity, and can result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. Please refer to Sugarbud’s most recent annual information form and management’s discussion and analysis for additional risk factors relating to Sugarbud, which can be accessed under Sugarbud’s profile on www.sedar.com. Except as required by applicable laws, Sugarbud does not undertake any obligation to publicly update or revise any forward-looking statements.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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Source: https://www.cannabisfn.com/sugarbud-announces-launch-of-trading-on-the-us-otcqb-venture-market/

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Cannabis Packaging Waste Is A Problem. A California Dispensary Is Addressing It

Airfield Supply Co. has partnered with CannaCraft and Resynergi to address the growing problem of waste from plastic cannabis packaging.

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A California dispensary is calling attention to the environmental impact of cannabis packaging waste with a campaign that encourages customers to help recycle some of the industry’s plastic into diesel fuel. And to thank the company’s clientele for its support, customers who bring in plastic packaging from cannabis products into Airfield Supply Co. of San Jose, California will get a special reward for their trouble.

The problem of plastic waste is not a new one, Airfield Supply Co. noted in a press release about the campaign, which was planned for the run-up to the 4/20 cannabis high holiday. Approximately 6.3 billion tons of plastic have been produced worldwide in the last 60 years, but only 9% of that total has been recycled. And each year, about 300 million pounds of cheap plastic waste is generated, with about 8 million pounds of it ending up in the world’s oceans.

Unfortunately, the legal cannabis industry has become a significant contributor to the problem of plastic packaging waste. Because of strict regulations governing how cannabis products must be packaged, many end up being marketed in much more plastic than is really necessary.

Child-resistant and tamper-evident packaging is mandatory in California but often that means brands use extra plastic to achieve compliance, and that contributes a massive volume of single-use plastic, including some 2 million single-joint tubes to the state’s waste stream and landfills each year,” Airfield Supply Co. chief marketing officer Chris Lane said in a statement from the company. 

Be A Part Of The Solution. Recycle Your Cannabis Packaging

To help address the issue, Airfield has partnered with Sonoma County cannabis manufacturer CannaCraft, recycling innovator Resynergi, and other licensed brands to turn plastic cannabis packaging into diesel fuel. During the week leading up to 4/20 (April 13 through April 20), customers who bring plastic packaging from a cannabis product to recycle will receive a coupon to purchase a specially designated product for only 10 cents with a dispensary purchase of $25 or more. Members of the cannabis community are encouraged to recycle as much clean cannabis packaging as possible, but coupon distribution is limited to one per customer per day of the campaign.

“Our intent is to entice customers during the week of 4/20 to bring in cannabis waste by offering a coupon for those who do to get a $.10 special item,” said Lane.

Ten-cent gift coupon choices available for customers who participate in the campaign include a single Cann infused beverage, full-sized tins of PLUS cannabis gummies, half-gram ABX vape cartridges, half-gram Jetfuel pre-rolls, single Big Pete infused cookies, one gram Pure Beauty pre-rolls, Papa & Barkley Releaf samples, Select Nano gummies, and more. Lane said that the company hopes the incentives will encourage them to make recycling a part of their lifestyle.

“We want to see what we can achieve when we motivate our base to participate, raise more general awareness for recycling efforts and try to drive more adoption of recycling practices,” he said. “Our goal is always to use our voice to drive positive change, for the environment and the community. Every piece of plastic recycled is a step in that right direction.”

The participating cannabis brands have all agreed to drop their wholesale cost of the products for the promotion to only 10 cents, “which is a significant wholesale discount, and really speaks to their willingness to drive sustainable action in the cannabis community,” said Lane.

“CannaCraft is happy to discount our ABX products to call attention to the plastic crisis plaguing our environment, communities, and now the cannabis industry. We began working on these recycling programs with Resynergi and dispensaries in 2019 when California regulations required additional child-resistant packaging for cannabis products,” Jim Hourigan, CannaCraft CEO said in an email to High Times. “We hope that by encouraging and incentivizing customers to recycle this packaging, we can get the industry in the habit of making responsible choices that benefit all of us as well as the planet.” 

Airfield Supply Co. estimates that if only a third of the customers who visit the dispensary during the campaign participate in the recycling effort, 250 pounds of plastic cannabis packaging waste can be collected and recycled, enough to produce 25 gallons of diesel. So, if you’re in the Bay Area, need some weed, and have plastic cannabis packaging laying around, here’s your chance to get a quality California cannabis treat for only a dime. Not a bad deal!

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Source: https://hightimes.com/news/california-news/dispensary-cannabis-packaging-waste/

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