Investor Ideas #Potcasts
622, #Cannabis News and #Stocks on the Move; Interview with Partner at Windels
Marx Cannabis Law Practice Group
Vancouver, Kelowna, Delta, BC, January 28,
2022 (Investorideas.com
Newswire) www.Investoride, as.com, a global news source covering leading sectors
including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight
from thought leaders and experts.
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2022/012822-StocksToWatch.mp3
Read this in full
at https://www.investorideas.com/news/2022/cannabis-potcasts/01281Windels-Marx-Cannabis-Law-Practice-Group.asp
Hear Investor ideas cannabis potcast on iTunes
Hear the investor ideas potcast on Spotify
Today’s podcast overview/transcript:
Good
afternoon and welcome to another episode of Investorideas.com
"Potcast" featuring cannabis news, stocks to watch as well as
insights from thought leaders and experts.
In
today’s podcast Investorideas interviews Karl Frederik, Partner at Windels Marx Cannabis Law
Practice Group, where we discussed cannabis legislation, with specific focus on
New York and New Jersey where Frederik is based out of, as well as how he
anticipates regulatory change evolving on both a state and federal level.
Frederik
has an extensive background in law which eventually brought him into the
cannabis space in 2015. “I’ve been practicing law for over 30 years,
predominantly in real estate and urban redevelopment and construction and my
practice focus has been in healthcare and on the pharmaceutical industry as
well as consumer packaged goods. In 2014 I successfully completed an unrelated
campaign related to family law reform. I worked on that project with a lobbyist
named Michael Turner from Burton Trent LLC, he’s one
of the top lobbyists in New Jersey. So we sat down and I said “Well look we
accomplished the impossible in 2014, what are we going to do in 2015?” and he
said “we’re going to work on legalizing cannabis”. So starting in 2015 I
started studying the industry and talking with people and then Governor Murphy
came along and said “I’m making this a legislative priority if I’m elected”. So
Governor Murphy was elected, poll results came in around 8:00pm in the evening
and by 8:30pm I had my plane tickets to go to MJBIZCon in Las Vegas. As an
outgrowth of the lobbying efforts, Michale Turner and his team formed the New
Jersey Cannabusiness Association to support the burgeoning industry
and I became their first outside council. Through those efforts I was able to
influence marijuana policy in New Jersey and do comparison and contrast with
what worked and didn’t work in other jurisdictions.”
At
Windels Marx. Frederik brings together
disciplines in real estate, corporate, tax, governmental affairs, pharmaceutical
new drug applications, intellectual property and related areas of law to
provide applicants, licensees, developers, businesses and investors a practical
understanding of the landscape so they can capitalize on cannabis industry
opportunities.
Speaking
about the current landscape of the New Jersey Cannabis industry and the
competition between large scale MSO’s and smaller scale operations, Frederik
commented, “this is really part of the tension in the industry when you have a
robust medical program. Curaleaf and TerrAscend are already in New Jersey, TerrAscend has one of the largest grows in New
Jersey to feed its Apothecarium brand of stores. They are precisely the groups
that are looking to move to recreational sales. In the same token, and this is
a parallel issue in New York, a lot of small operators are going for relatively
limited licenses. We are prioritizing in New Jersey, social equity applicants
but the issue is getting them financing and one cannot underestimate the amount
it takes to start a serious medical cannabis operation. So what we are seeing
from the small operators who are going after processing licenses and smaller
cultivation licenses but the MSO’s are here and they’re not going anywhere.”
Frederik
went on to discuss some of the taxation issues different states are facing,
specifically California’s cultivation tax, as well as how other states have
adjusted their licensing and taxation schemes to benefit their local cannabis
industries.
“In
the East Coast the lesson is being learned.” commented Frederik on how states
like New York and New Jersey have adjusted their policies after seeing some of
the issues that have arisen in states like California and Colorado.
Frederik
went on to discuss the issues in almost all states with regards to the legal
market competing with the “grey” or “legacy” market, commenting, “we’ve noted
that there is a delay between decriminalization and legalization. We have
decriminalized in New York and New Jersey, but there is this block of time
where the “legacy” market or “grey” market has an opportunity to take a real
foothold. Now in New Jersey I would argue that we are moving at a speed that would
permit us to create a marketplace that will be able to successfully compete
with the legacy market. New York being so far behind, has one of the largest,
if not the largest, legacy markets in the country. That market will only build
a more firm foothold and a larger clientele moving forward and the degree to
which that legacy market can take a foothold becomes a potential challenge for
building the legal market as has happened in California. It’s fascinating to
see how this plays out.”
Frederik
also discussed the social equity programs of New York and New Jersey in more
detail, how this impacts the industry, how the advocacy for psychedelics is
aiding education surrounding cannabis and plant medicines as well as how he
sees legalization progressing and evolving on a state level and if/when we
could see any movement on a federal level.
To
find out more information about Karl Frederik and Wendels Marx click here.
Investor ideas reminds all
listeners to read our disclaimers and disclosures on the Investorideas.com
website and that this podcast is not an endorsement to buy products or services
or securities. Investors are reminded all investment involves risk and possible
loss of investment.
Learn more about
our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp
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