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August 18, 2021

The Canna Consortium Happy Hour: August Newsletter

What’s on the Menu this August?

Cannabis Industry Insights

The pet CBD market is set to boom this year, with a number of upstart businesses making special treats for beloved animals everywhere, including our friends over at Suzie’s Pet Treats! Can you guess how much money pet CBD is project to make this year? Hint: it’s in the high, high millions.

New state restrictions on delta-8 THC are beginning to impact sales for manufacturers. retailers and businesses, hinting at the likelihood of similar changes to come in more states.

This month, we’re honoring longtime industry pioneer and innovative hash-maker Frenchy Cannoli, who passed away July 18 at age 64. Thank you for helping shape our industry, friend.

Regulatory Pulse Point

Draft legislation for a proposed Senate bill to federally legalize marijuana and give states authority over their own cannabis laws was released last month by it’s sponsor Sen. Chuck Schumer (D-NY).

“The Cannabis
Administration and Opportunity Act aims to end the decades of harm inflicted on communities of
color by removing cannabis from the federal list of controlled substances and empowering
states to implement their own cannabis laws.”

Learn more about the bill and how to make your input heard. Senate leaders are taking public comments until September 1.

Entrepreneurial Extras

“Hemp is one of the oldest plants in agriculture, yet since its prohibition in 1937, it’s just now becoming one of the hottest and fastest growing markets.”

Trust us, we understand how hard it is to be a new entrant in the cannabis industry. If you’re a hustling entrepreneur looking to get into the hemp space, we’ve got some keen advice on how to grow you network, expertise and opportunities.

News and Events

CannaCon Chicago was a success!

At the beginning of the August, our founding companies 710Spirits®, Cannabis Kitchen Supplies and Allay Consulting hosted an informative panel discussing how to level up your cannabis operations during and post pandemic. Thank you to all that attended we loved seeing you there!

Check out more upcoming cannabis events here!

Founder Spotlight

This August we’re highlighting one of our founding companies, Amber Scientific. When it comes to creating the best possible cannabis and hemp-based products for any business, finding the right tools can be a daunting task. But Amber Scientific, Inc has been making the process easier. Founded in 1962, this family-owned and operated Texas-based company is a leading distributor of laboratory supplies, equipment, and chemicals across many different industries, including cannabis product manufacturing. From solvents to filtering kits to masks, Amber Scientific prides itself on providing the right tools.

As the President and General Counsel of Amber Scientific, Coby Wishert brings in-depth experience as a leading attorney to this special distribution company. Using his legal expertise, Coby offers a unique perspective around ever-changing supply-chain challenges and impacts the global market has on consumable products related to the cannabis industry. Before joining Amber Scientific, Coby worked diligently for years to form and maintain strategic partnerships and collaborative agreements across hundreds of markets. Now, Coby maintains a caring culture build around family, all while overseeing a world-class company that uses technology to bridge the gap of traditional and modern business philosophies.

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