CCC - EXCLUSIVE: Cannabis Leaders Reveal Strategies For Success Without Relying On SAFE Banking Act | Benzinga
Marijuana businesses have been struggling to raise capital for years. Now the industry is hanging on hopes of major federal reform that would resolve the money issue. With the SAFER Banking Act approved by a Senate committee on Wednesday, optimism is rising. Still, the question is – how can cannabis businesses stay competitive amid a capital crunch, and survive until 2025?
Many industry experts have been sharing their strategies at the 2024 Benzinga Cannabis Capital Conference in Chicago.
"We've built a business that's not really relying on that,” Darren Weiss, president of cannabis operator Verano Holdings Corp (OTCQX: VRNOF), told moderator and executive editor at Green Market Report, Debra Borchardt. According to Weiss, it’s best when businesses are built assuming that cash never becomes available, and when entrepreneurs try to build a sustainable business.
Overall Sentiment Has Improved
Jamie Mendola, chief business development officer at marijuana company Ayr Wellness (OTCQX: AYRWF), believes that things have slightly improved in the last month, and that there has been "some increased appetite for risk ...