Industry Firms

The legal marijuana/cannabis industry is growing rapidly and involves thousands of firms across many different jurisdictions. Below I provide an overview of the different types of cannabis businesses and some examples for those who are new to the subject. Currently the overview has a Colorado emphasis but I am working to expand the geographical coverage. Updates and suggestions for additions are welcome! Last Updated: July 13, 2020.

Types of Businesses

Cannabis businesses can be divided into two main groups – licensed businesses that “touch the plant” and ancillary businesses that support the licensed industry. Many people unfamiliar with the industry do not realize the size and impact of the industry’s ancillary businesses and the advantages that these firms have by not being subject to the same level of regulation.

Licensed Cannabis Businesses

The range of licensed businesses that directly handle cannabis varies by jurisdiction but generally includes Cultivators, Manufacturers, Retailers, Testers, Operators, and Delivery/Transportation services.

International and U.S. Multi-State Operators (MSO)Aurora Cannabis (video of grow facility) (interview with former CCO Cam Battley) 4Front Ventures, Acreage Holdings, CanopyGrowth/Tweed, Columbia Care, Cronos Group (5 continents, traded on Nasdaq) Cresco Labs (18 dispensaries as of July 2020, 8 in Illinois), Curaleaf (10 states), Golden Leaf Holdings, Green Thumb Industries (GTI, Nov 2018 press release), Grassroots Cannabis (6 states), Harvest Health & Recreation Inc, Holistic Industries (5 States and Washington, DC),  iAnthus Capital Holdings, MedMen Enterprises (Politico exposé from May 2020), Pharmacann (headquartered in Illinois, founded in 2014), Surterra Wellness/Parallel (FL, MA, TX), Terrascend, Terra Tech Corp, Tilray (Canada, Europe, Australia & New Zealand, Latin America), TruLieve (Florida and 3 other states).
Note: Colorado companies and locations are noticeably absent from this list since until 2019 state regulation largely restricted out of state or public investment of licensed Colorado marijuana businesses

Cultivation Specialists – Los Suenos Farms (Pueblo, Dope Magazine feature), Mahoney Greens (Washington Tier 3 Cultivator), ForwardGro (Maryland), Village Farms (Delta, British Columbia and other locations) and many others

Extraction SpecialistsMediPharm Labs Corp. (Canada and Australia), Valens GroWorks, 710 Labs (Colorado), Neptune Wellness Solutions and many others

Colorado Manufacturers

Colorado Retailers – Among the most prominent Colorado firms are Native Roots (20 locations and licenses in Canadian province of Manitoba, Interview with CEO Ryan Brown), LivWell (19 locations and also in Oregon and Alberta, acquired 5 Mindful locations in May 2020), The Green Solution (22 locations), Green Dragon (15 locations), Starbuds (13 locations in Colorado, plus Baltimore, Okalahoma, Jamaica and also involved in Louisiana), Lightshade (9 locations), Silver Stem Fine Cannabis (10 locations in Colorado and Oregon), Buddy Boy (7 locations), Maggie’s Farm (7 locations), The Clinic (4 Colorado locations, 2 Illinois), Terrapin Care Station (7 Colorado locations), MMJ America (Denver, Boulder, Las Vegas), Colorado Harvest Company (3 locations), Medicine Man (4 Colorado locations), Solace Meds (acquired previous Sticky buds Denver locations), Verde Natural (Denver and Boulder), Good Chemistry (Colorado, Massachusetts and Nevada), Cure Holdings (Colorado, Pennsylvania and Oklahoma). Other Colorado dispensaries include Botanico, Euflora (6 Colorado locations), Lucy Sky (2 locations), Green Cross Caregivers, Kind Love (Denver and Oklahoma), Simply PureMile High Green CrossThe Herbal Cure (Denver), Good Meds (Englewood, Lakewood),  Backcountry Cannabis (Crested Butte), Rocky Mountain Remedies (Steamboat Springs), Denver Clone Store, Northern Lights, Green Sativa (Federal Heights).

Other U.S. RetailersCannaCraft (California, CEO interview), MedMen (California and NYC, Leafly Profile), Harborside Health Center (California), Franklin Bioscience (Pennsylvania), Mercy Wellness of Cotati (Northern California), Revolutionary Clinics (Massachusetts)

Denver Licensed Social Consumption VenuesThe Coffee Joint (Denver, Westword profile), Utopia Wellness (Downtown Denver, unable to get operating permit)

Pharmaceutical CompaniesArena Pharmaceuticals Inc (some cannabis involvement), GW Pharmaceuticals, Insys TherapeuticsCara Therapeutics Inc., Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP)

Canadian Companies (Cultivation and Manufacturing)Aphria (CBC interview with CEO Vic Neufeld, CEO Profile), Aqualitas (Nova Scotia aquaculture cultivator, Coast profile of CEO), , Broken Coast Cannabis, Canna Farms, Cannimed Therapeutics, CannTrust Holdings, Emerald Botanicals, The Green Organic Dutchman, Hexo, Hydropothecary (Quebec), Truro Herbal Company (Nova Scotia), Maricann, MedReleaf Canada, Organigram (Moncton, NB), Spectrum Cannabis, Tokyo Smoke

Ancillary Cannabis Businesses

Ancillary businesses include Analytics/Technology, Marketing, Consulting, Construction, Packaging, Cultivation Supplies, R&D, and other types of firms that do not “touch the plant”.

AnalyticsBDS Analytics, New Frontier Data, Green Wave Advisors, Headset, t.i. analytics

Consumer DirectoriesLeafly, WeedMaps, Lift (Canada), MassRoots (consumer app)

Consulting FirmsCannaadvisors, Cannabis Compliance Inc. (Canada), Denver Relief Consulting (MJ Business Magazine article), Medicine Man Technologies, Siva (California multi-service firm)

Financial Services & Holding/Operating Companies – These companies may operate some licensed businesses while also investing in, consulting and advising other operators. Acreage Holdings (which has John Boehner as a board member), Cannabis Wheaton Income (Canada), General Cannabis Corp (whole owner of Iron Protection Group, Chiefton apparel, Next Big Crop consulting), Ganja Capital AdvisorsGreen Sage Merchant Bank, MazakaliMjardin/Growforce, Pioneer InterestsPineapple Express (California), Privateer Holdings, Procann Group, Rose Capital/BR Brands (investor in Dixie Elixirs), Sprott (Canada asset management), Forbes May 2017 Top Five Financial Leaders.

GlasswareIlluzion Glass Galleries, Mothership Glass (high-end glass maker)

Law Firms & Lawyers – Vicente Sedeberg, Hoban Law GroupMcAllister Garfield, P.C, Tom Downey, Ireland Stapleton, Nick J. Richards (Tax Attorney), Kight Law/Kight on Cannabis, Trina Fraser – Brazeau Sellers (Canada)

Media/Public RelationsSensi Media Group, Grasslands (Ricardo Baca), High Times, The Hemp Connoisseur

Real Estate Firms –  Innovative Industrial Properties (multiple states), 420 Property, 420 Property Management, Colorado firms: Desarollo Real EstateMarijuana Real Estate Colorado,

Technology Companies – Adilas SystemsBaker TechnologiesCannaBOS (back office solutions), Cannaregs, Eaze (Delivery app – California), Flowhub (point of sale – Colorado), Green Bits (point of sale – California), Leaflink (Cannainsider podcast transcript), METRC/Franwell (regulatory tracking in Colorado, Nevada and California), MJ Freeway (Colorado), Simplifya (Compliance software)

Tourism/Private ConsumptionMy 420 Tours (Colorado), Bud & Breakfast (Colorado Lodging), Canada High Tours, Kush & Canvases, Mason Jar Event Group (Culinary events), TEN7TEEN (Canada)

OtherCannabrand (Marketing), CanopyBoulder (Incubator, Vimeo Channel of Videos), Cultivated Synergy (Shared workspace/events), LEVO Oil Infusion (Kitchen extraction/infusion device), Safe Harbor Banking Solutions, Scotts Miracle-Gro (Fertilizer), Vangst (HR services), Wurk (HR services), Your Green Contractor (Construction Services), KushCo Holdings/Kush Supply Co (Packaging)

Hemp/CBD Companies

Bluebird BotanicalsCharlotte’s Web by the Stanley Brothers, CV Sciences (pharmaceutical and consumer CBD) Green Roads World, Hemplucid, Kazmira, Nuleaf NaturalsPioneer BotanicalsSauc. List of other CBD oil companies.

Defunct Companies

Tokken – Denverite profile, Westword profile – Changed name to Joust and now focusing on non-cannabis banking solutions, Le Habra Cares (California, raided by DEA), Preferred Organic Therapy – Denver area dispensary (Business Den news story), Sweet Leaf (formerly in Aurora, Federal Heights, Oregon, Westword article), Herbal Remedies (Denver), VIP Cannabis (raided by DEA, Denver Post news story), Five Colorado Dispensary chains that no longer exist (Westword, Aug 29, 2018). Vape and Play – Denver Social Consumption venue that went out of business after one month.

References