Member Spotlight: High-Minded Events

Member Spotlight: High-Minded Events

About Phil Cooper and High-Minded Events

 

Phil Cooper
High-Minded Events highmindedevents.com

Phil Cooper is the Founder and Owner of High-Minded Events, which focuses on de-stigmatizing cannabis culture and consumption by including it in their events. CBAI is once again partnering with High-Minded Events for the annual ICANN PAC fundraiser, Fall Impact, on Thursday, October 20th.

Tell us about your company
I started High-Minded Events a little over two years ago, in Summer 2020. I already had a successful career in the event design industry, doing high-profile events with big names. But with cannabis becoming legal in Illinois, I saw an opportunity to offer my skills as someone who has the ability to help people approach cannabis in a familiar and comfortable way. When the pandemic took hold and events were canceled, I felt like it was an opportunity for me to really take the time to research and kick off this new company. We dipped our toes into a few events in 2021 and were really pleased with the response because I think people see it as a natural progression, now that cannabis is legal in Illinois.

What role does your company play in the cannabis industry?
Our company has two main areas: one is our catering side, which includes anything from equipment rental – where we provide safe and elegant consumption at private events – to coordinating private chefs, budtenders and chocolatiers to infuse cannabis into food and drink. The other side of our business is our efforts to work directly with cannabis brands to help them design, execute and manage their cannabis events.

Phil Cooper, Founder/Owner, High-Minded Events

Phil Cooper is the Founder and Owner of High-Minded Events, which focuses on de-stigmatizing cannabis culture and consumption by including it in their events.

What drew you to the cannabis industry?
As a recovering alcoholic , I found that cannabis was a healthy alternative for me. At the same time, being a person who doesn’t drink in an industry where one of the main tenets is drinking can be really difficult and isolating. There are tons of events where you walk in the door and are handed a glass of champagne; I’m immediately left out of the customer experience. So, I saw this as a real opportunity to bring a healthy alternative to private events and give people who don’t want to have a drink the option to imbibe in another way. Being able to bring that option to private settings is part of our mission and a really personal goal for me.

What excites you about the cannabis industry?
Working directly with small, craft growers is really exciting. Whether we’re helping them throw their own event or incorporating their products into private events or weddings, I love being able to help these smaller operations get more exposure and break through to some customers. These small events are great opportunities for us to talk directly with consumers about these new brands and their high-quality products without it being a more formal marketing event.

What are the biggest challenges facing your business?
Because cannabis is still relatively new in Illinois and because it’s still federally illegal, we are limited in the venues that will let us hold events. But it’s not even just events: right now, we’re working on trying to secure our own space here in Chicago and there’s some bureaucratic confusion when it comes to zoning. We keep getting bounced back and forth between departments because we’re a new type of business in a new industry. We’re missing some clarity when it comes to consumption rules in Chicago, particularly for events. I’d like to see a very clear process put in place for hosting cannabis-forward events: here is the office responsible for the permitting, here are the requirements and fees, here’s where you can have the events. If a brewery was hosting an event, you’d be shocked if they weren’t serving beer. Cannabis events ought to be treated the same way.

What can we expect from this year’s ICANN PAC event?
It’s going to be an elegant event providing attendees with meaningful networking opportunities with government officials and members of the industry…and plenty of opportunities to sample cannabis products! We’re going to have tons of delicious infused edibles and an interactive joint-packing station where attendees can see the flower they’re picking and get a custom joint rolled to either enjoy at home or in the private courtyard at the event. And we’ll of course have my favorite: infused beverages, which are probably the most popular item at our events and a great substitute for alcohol.

Learn more about the ICANN PAC event and register here

Connect with Phil Cooper and High-Minded Events!

 

Member Spotlight: Glory Global

Member Spotlight: Glory Global

About Glory Global

 

Joseph Gnorski

Glory Global, Glory-Global.com

Joseph Gnorski is Senior Vice President of Retail Markets for Glory Global, which provides cash technology solutions to a variety of industries, including the cannabis sector.

Tell us about your company.

Glory Global was founded in Japan more than 100 years ago, actually starting as a light bulb company. But following World War 2 we developed a machine that would count and sort coins, so we shifted our focus to cash technology and have been doing that ever since. So now we provide these solutions to sectors across the economy, from grocery stores and restaurants to casinos and now, cannabis.

 

What role does your company play in the cannabis industry?

Cannabis is predominantly a cash business, so the value we ultimately provide to our customers is equipping them with technology that allows them to more efficiently and accurately count, secure and authenticate their cash. The time saved allows them to focus on improving the customer experience and growing their business.

Our first customer in the space was looking for ways to save time so they could focus on expansion. Cannabis businesses who are looking to expand – maybe even out of state – really can’t survive a scenario in which they must manually oversee cash counts in their back rooms on a daily basis. It just takes too much time.

Joseph Gnorski, VP of Retail Markets, Glory Global

Joseph Gnorski is Senior Vice President of Retail Markets for Glory Global, which provides cash technology solutions to a variety of industries, including the cannabis sector.

What excites you about the cannabis industry?

This industry is very new, so we’re seeing a lot of really interesting innovation. Because our solutions provide time back to the staff,, I see a lot of them creating something entirely new and interesting and better for their customers. It’s always fascinating to see how different organizations take that time and resources and put them back into their organization.

There are a lot of companies that have created fascinating customer experiences by removing that sort of transactional element of cash out of the process. Seeing those changes is what really gets me excited.

There are a lot of companies that have created fascinating customer experiences by removing that sort of transactional element of cash out of the process.  Seeing those changes is what really gets me excited.

What are the biggest challenges facing your business?

We operate all over the US, so we must navigate different regulations and laws on a state-by-state basis. As a result, it can be difficult – not just for us but for our clients – to standardize processes, to scale and to grow. This is a very new industry with a lot of new businesses – some of which are making their first entrance into running a company – so any barriers to growth can be tough to overcome. 

What changes could help you be more successful in Illinois?

We would love to see more standardization when it comes to payments and banking. It can get a complicated when you process electronic transactions and deal in large volumes of cash while trying to follow a slew of regulations. So, the easier that system can be, the easier it is to stay in compliance and stay transparent.

Connect with Joseph Gnorski and Glory Global!

 

Member Spotlight: Metrc

Member Spotlight: Metrc

About Metrc

 

David Urbanowicz

Metrc, Metrc.com

David Urbanowicz is Vice President of External Affairs and Business Development for Metrc, which provides cannabis regulatory systems for 20 states, the District of Columbia and Guam.

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Tell us about your company

Metrc (pronounced “Metric”) is the leading provider of track-and-trace technology, which helps states regulate cannabis industry operations. We started in the early 1990s, initially looking at the ways technology could help extend the life and utility of fresh food, with the goal of helping to eliminate food waste.

The technology that was developed during those efforts came into use when the state of Colorado was getting ready to launch its legal cannabis industry and approached us for help developing a regulatory system to ensure the security and safety of the marketplace. We spent two years working with Colorado to create a system to track a variety of information that is transparent and can be easily accessed by state regulators. We’ve since expanded to 20 states, the District of Columbia and Guam.

 

What role does your company play in the cannabis industry? We are ultimately a regulatory system providing real-time information to state governments about their cannabis industries. For each state in which we operate, we have a centralized database of every single plant and product in the legal marketplace, as well as all the information related to it such as where it came from, where it’s going, who handled it along the way, results from independent testing labs, and other information critical to a well-regulated marketplace, including information on where it was ultimately sold and for how much.

Every business throughout the supply chain reports into the same database – the one we provide – and regulators can see that information in real time and act on it immediately, if necessary. Our goal is to help both regulators and businesses keep the market safe and secure, because seed-to-sale traceability helps ensure product and consumer safety.

David Urbanowicz, Metrc

David Urbanowicz is Vice President of External Affairs and Business Development for Metrc, which provides cannabis regulatory systems for 20 states, the District of Columbia and Guam.

What sort of information does Metrc track?

To be as useful as possible, the information we track has to be very granular: what seeds are used, how they grow, when a plant gets cut, etc. In the event of an issue, this allows the system to pinpoint the affected products that need to be pulled from the market, rather than issue a major blanket recall.

 

The system also has safeguards built in, so if a product fails tests at any step of the process, it cannot continue moving through the supply chain until the issue is addressed. So, businesses are in essence automatically compliant because the system won’t let them act on something if there is an issue.

 

Another huge focus for partner states that Metrc helps with is tax collection. Because the system tracks all sale information, state departments of revenue can look directly at that data and reconcile it with a business’ tax receipts.

 

What excites you about the cannabis industry?

Solving complex problems like this is exciting for a brand-new industry, with a huge learning curve. The cannabis industry is at the forefront of supply chain transparency, in large part because of systems like ours. Most industries – even other highly regulated ones – don’t have this level of real-time data and tracking, so it’s an innovative system with potential implications for other markets as well.

Connect with David and Metrc!

 

Member Spotlight: INB

Member Spotlight: INB

About INB

 

Katie Hahn

INB, inb.com

Katie Hahn is the Assistant Vice President of Business Solutions at INB, a Springfield-based bank that provides banking services to cannabis businesses in Illinois.

Tell us about your company?

INB has provided a full range of traditional banking services to individuals, businesses and government entities for over 21 years.  INB opened in 1999 with one straightforward expectation: to bring community banks into banking. That meant knowing your customers, being involved in your communities, caring and showing you care by using your resources to help the people you live and work with. INB is headquartered in Springfield, IL and has 13 Illinois branches and a loan production office in Chesterfield, MO. www.inb.com

Can you offer a general overview of the kinds of cannabis clients you serve?

We bank cultivators, dispensaries and many businesses that provide services or other operational items to cannabis operators, such as payroll providers, equipment providers, and investors who have experienced difficulties banking with their traditional banks due to the transactional nature and recipient of their investments.

Katie Hahn, Assistant Vice President-Business Solutions, INB

Katie Hahn is Assistant Vice President of Business Solutions at INB, a Springfield-based bank that provides banking services to cannabis businesses in Illinois.

What role does your company play in servicing the cannabis industry and how did that start?  

INB started its program in 2019 after hearing stories about and researching the movement of cash in the industry. Management believed it could create a program that would provide a secure solution to the movement in cash and give licensed operators access to some traditional banking services previously unavailable to many Illinois cannabis-licensed businesses.

We offer most of our traditional deposit services to licensed operators by working with couriers who specialize in cash-in-transit services designed specifically for the licensed-cannabis trade. We have offered loans on a limited and very conservative basis when there is real estate involved.

 

As a bank working in the cannabis industry – which is still not legalized at the federal level – explain how INB is able to operate here in Illinois.

The US Department of Treasury issued guidance through its Financial Crimes Enforcement Network (FinCEN) that set certain rules for banks who are receiving cash proceeds from or suspected to be tied to cannabis-related sales in states with licensed sales. INB’s primarily regulator, the Office of the Comptroller of the Currency (OCC) is also a division in the US Department of Treasury, each of which do not necessarily condone the open banking of cannabis-related cash, but require the bank to comply with the rules established by FinCEN and other traditional anti-money laundering regulations.

 

Why did INB get involved in the cannabis industry?

There are very few industries facing cash-logistic challenges like the cannabis industry. Banks were built to keep depositors’ money safe and provide financial services to protect the flow of its customers hard-earned gains. Our management team prides itself on finding innovative solutions for our customers and being on the forefront of new technologies and financial solutions. While INB started with a small, community bank charter, it began essentially as a start-up operation in the Capitol City and grew to compete with many older, established financial institutions

 

What excites you about the cannabis industry?

The cannabis industry presented an opportunity to meet new people who also faced unique challenges as they grew their businesses from the ground up in a heavily regulated industry much like the heavily regulated financial industry. The energy our licensed cannabis customers present when they discuss the unique paths to finding capital, building their operations and their difficulties working solely with cash is contagious. We share the excitement and relief that many of our customers experience when they feel the liberation that our cash logistics and banking services provide.

 

What are the biggest challenges facing your business?

There is a lack of diversity of services, which presents monopolies on pricing for certain services. Debit cards remain an issue, despite our continued pursuit with Visa to open their rails to licensed-cannabis operators. Loans are often difficult to extend because they are harder to wind-down if our regulators or the federal government changes its (somewhat) hands-off approach to banks in the cannabis space. We can close checking accounts, but we cannot really just exit loans that easily. This is a challenge for every bank looking to bank the cannabis industry. Loans are also difficult to make without real estate collateral, and the value of the collateral is hard to ascertain for very specialized projects such as cannabis cultivation and dispensaries (no standard appraisal rules or bases for cannabis industry operations).

 

As a company that services cannabis businesses, how has CBAI membership been valuable?

The Association can lobby for many of the obstacles we also face, but the education and access to other resources provide additional avenues for greater knowledge that can benefit our existing customers.

Connect with Katie Hahn and

INB!

 

Member Spotlight: Fox Rothschild, LLP

Member Spotlight: Fox Rothschild, LLP

About Fox Rothschild

 

Bill Bogot

Fox Rothschild, LLP: foxrothschild.com

Bill Bogot is a Partner and Co-Chair of the Cannabis Law Practice at Fox Rothschild LLP based in the firm’s Chicago office. After years spent focused on Illinois’ gaming industry, Bill transitioned to the cannabis space when medical cannabis was approved in 2013. 

Tell us about your company?

Fox Rothschild is a national law firm with 950 lawyers in 28 offices across the country. My focus for years was on the Illinois gaming industry, including working for the Illinois Gaming Board.  When Illinois passed the Compassionate Use of Medical Cannabis Pilot Program Act, which legalized medical marijuana in the state, we realized that the competitive applications for medical marijuana licenses were not too dissimilar from competitive casino licenses, including the background information and all the regulatory requirements that need to be met.  My partners and I, as prior gaming regulators, had a lot of experience with competitive applications and intense regulatory scrutiny.   As a result, we got in on the front end of providing legal services to those seeking medical cannabis licenses in Illinois and other states, and later adult-use cannabis licenses as well.  

What role does your company play in the cannabis industry?

We provide a full spectrum of legal services to a wide range of cannabis-related businesses across the country and here in Illinois. Because we started this work very early on, initially we only worked with smaller-scale entrepreneurs who were exploring the industry. Some of these were family businesses or groups of friends that were trying to build a little team to get their business started. And we became a resource for these groups of folks just starting out. It was great to start here in Illinois because it became a breeding ground for some of the largest multi-state cannabis operators, which we then witnessed blossom and grow into national players.  

Bill Bogot, Partner and Co-Chair of the Cannabis Law Practice, Fox Rothschild, LLP

Bill Bogot is a Partner and Co-Chair of the Cannabis Law Practice at Fox Rothschild LLP based in the firm’s Chicago office. After years spent focused on Illinois’ gaming industry, Bill transitioned to the cannabis space when medical cannabis was approved in 2013. 

What guidance would you give to someone considering entering the cannabis industry?

People entering the industry understandably have so many questions, not only because they’re new to the industry, but because the industry itself is so new and still federally illegal. The biggest piece of advice I give them when dealing with a competitive application process is: be prepared for delays. It’s the unfortunate reality of the cannabis industry across the country, that with the byzantine regulatory structures,  politics and lawsuits, there are invariably delays. We see this of course in the delay in issuing new competitive dispensary licenses in Illinois. The more you’re prepared for it, the better you can manage it.

 

 

What excites you about the cannabis industry?

Because we’ve been involved in it from the start, we’ve really seen the entire industry form and grow around us. I’ve been in law for almost three decades and it’s very satisfying to still be finding solutions to new issues that arise every day, whether it concerns restrictions on advertising, constitutional challenges to agency regulations, or navigating a new state that legalized marijuana.  Every day seems to be a great legal challenge.

It’s also been really satisfying to see our clients grow and succeed. I still remember introductory meetings almost a decade ago with small would-be cannabis license applicants that are now public companies. To be a part of that success is really special.  Now we just need to see that happen again when and if the next round of licenses are finally issued.  There are so many talented applicants being held back right now, but I’m really excited to see them succeed when they are finally licensed. 

Connect with Bill and

Fox Rothschild, LLP!

 

Member Spotlight: Cannabis Facility Construction

Member Spotlight: Cannabis Facility Construction

About Cannabis Facility Construction

 

Andy Poticha

Cannabis Facility Construction, CannabisFacility.net

Andy Poticha is founder & CEO of Northbrook-based Cannabis Facility Construction, which designs and builds dispensaries, cultivation facilities and more in Illinois and across the country

Tell us about your company?

As cannabis has become legal throughout the country, we’ve expanded the projects we do beyond medical dispensaries to include recreational dispensaries, as well as facilities focused on cultivation, craft grow, infusion, processing and extraction. Here in Illinois alone, we’ve built a total of 26 facilities.

What excites you about the cannabis industry?

Because the industry is still very young, the opportunity is incredibly exciting, not only in terms of business growth, but in terms of working with clients to build unique and custom projects. The technology is changing daily as well as the speed and sophistication of processes and best practices.

 What are the biggest challenges you face?

I always say that good designers get inside their client’s head and help them articulate that which they can’t do themselves on paper.  That means the future of dispensaries really depends on the experience our clients want their customers to have: do they want it to be a type of self-serve store or do they want it to feel more high-end and service-focused? Ultimately, I think you’re going to see both: groups that are interested in selling volume and groups that are interested in selling an experience.

We have to remember that, in Illinois, most of the dispensaries that were here seven years ago were medical and were focused more on satisfying the regulatory requirements than visual appeal. So, as a result, they ended up looking a lot like doctor’s offices. Our initial three projects were experiential and wellness focused.  Many others have followed that lead.  Going forward, I think it’s going to be very interesting to see how dispensaries evolve.

What are the biggest challenges facing your business?

The biggest obstacle we’re encountering is the challenge businesses everywhere are facing: supply chain issues as a result of the COVID pandemic. I’ve been in this business for more than 32 years and right now this environment is truly unprecedented, particularly as there is such a high demand for construction work, materials as well as labor.

Connect with Andy Poticha and the

Cannabis Facility Construction team!

 

Andy Poticha
Founder & CEO

Mosaic Construction, LLC • 847.504.0177
Cannabis Facility Construction • 847.504.0177
Design Construction Concepts • 847.498.1676