Water Tower Hour Recap
Water Tower Research participated in the Benzinga Cannabis Capital Conference in Chicago. We spent two days at the event meeting with operators and investors. We also moderated a keynote presentation with TerrAscend (TSX: TSND, OTCQX: TSNDF) Executive Chairman Jason Wild. Link to the keynote in our full report. Investors at the event were more optimistic and engaged. Events we hosted were full and larger allocators were getting educated on cannabis investing. Operators remain focused on execution and generating cash flow. Schedule III and 280E removal may happen, but given the uncertainty, operators are not building tax relief into their business plans. We interviewed leadership from three companies. Jon Levine, CEO of MariMed (CSE: MRMD, OTCQX: MRMD), shared how it is expanding in 2023, while many operators are contracting. He discussed projects in Illinois and Missouri and highlighted growth engines in 2024. Creating strong brands like Betty’s Eddies and Nature’s Heritage flower remain a top priority and we’ll soon see these on shelves in Illinois. AYR Wellness (CSE: AYR, OTCQX: AYRWF) CEO David Goubert began our interview by discussing the biggest improvements he has made since joining the company earlier this year. He also highlighted the opportunities ahead in key states like Ohio, Pennsylvania, and Florida. AYR has 62 stores in Florida, nine in Pennsylvania, and three Ohio stores in the works. Shane Johnson, Senior Vice President of InMed Pharmaceuticals (NASDAQ: INM), talked with us about its innovative rare cannabinoid business. He shared how InMed has three pharmaceutical programs that it has complemented by acquiring BayMedica to focus on the health and wellness market. InMed is at the leading edge of manufacturing cannabinoids like CBC and THCV. You can listen to the episode on Apple Podcasts, Google Podcasts, Spotify, or our website. We share shorter clips on LinkedIn and Twitter.
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