Michael Feinsod, speaking with CEOCFO Magazine explains how their family of brands are maturing, proving year-over-year growth
DENVER, CO / ACCESSWIRE / October 17, 2019 / CEOCFO Magazine, an independent investment, cannabis, and medical news publication highlights an executive change at General Cannabis (OTCQX:CANN) in an interview (https://www.ceocfointerviews.com/interviews/GeneralCannabis19.htm) with Michael Feinsod, Executive Chairman of General Cannabis since 2014, and CEO since January of 2019, who says “we collectivity agreed that this is the time to focus on new and active acquisitions in Colorado and that I would be a natural leader to drive the effort”.
States Mr. Feinsod, “my background in investment management is exactly the thing that positioned me to be able to spot a quality acquisition when I see it. During my four years as Executive Chairman, not only did I lead the acquisitions at General Cannabis, but I have been very involved in the company overall and it’s been a positive experience”.
With 5 brands that provide management and consulting services, security, Hemp-based apparel, results-oriented CBD Products and Access to Capital, General Cannabis is at the forefront of the growing cannabis industry in Colorado. “Our headquarters are based in Denver, CO. Corporate finance, marketing, accounting and legal support all reside in our headquarters. Each of our entrepreneurial divisions has a Managing Director. Our MD’s work 1:1 with our corporate team to ensure they are set up for success in executing their plans,” said Mr. Feinsod.
The General Cannabis Chiefton brand offers lifestyle brands and apparel and accessories that utilize hemp. “The mission of Chiefton Supply Co is to create the highest level of function, relevance, and comfort in the most responsible way possible. Not only does our apparel and accessories utilize textiles like hemp, but also organic cotton, and recycled polyester. This division has an innate passion to provide eco-friendly apparel.” Their Iron Protection Group (IPG) is one of the most established cannabis security companies, adds Mr. Feinsod, “Most of our clients are cannabis operators, small- to large- grow operations and multi-facility dispensaries are the majority of our business. However, other industries have caught word of IPG’s unique approach to guarding. As mentioned above, we strive to be an approachable extension of our clients’ brands vs. the traditional hard-faced security guards and this tactic has proved to interest industries outside of cannabis, making our client mix varied in industries such as hospitality, education, government and hospitals”.
With access to capital being very important in the cannabis industry, General Cannabis’ GC Capital division is looking to be that strong, value-added partner, “GC Capital is designed to provide smart capital to entrepreneurs and established companies throughout the entire cannabis industry. We provide a secure debt and working capital loans to private cannabis operators in Colorado and California.,” observes Mr. Feinsod.
Next Big Crop is another one of General Cannabis’ brands that brings to the cannabis industry something that is greatly needed, which is unparalleled management and consulting services. Mr. Feinsod tells us they are, “in an industry that has traditionally lacked sound operational and quality standards”. He continues, “We partner with cannabis businesses to deploy proven solutions for every phase of medical and adult-use cannabis business operations-from licensure, design, and construction, to the cultivation, manufacture, and sale of medical-grade cannabis product. NBC has deployed its services in fifteen states as regulated cannabis continues to expand nationwide” Finally we have their STOA Wellness brand, “At STOA Wellness, our mission is to help you navigate the increasingly complex world of CBD to find the exact right products for you. It’s more than just a place to find CBD-it’s a place to come face-to-face with subject matter experts,” offers Mr. Feinsod.
In explaining their strategy for building such a diverse and forward thing company, Mr. Feinsod states, “I understood there were many young entrepreneurs in the cannabis space with solid business plans, so I identified the ones that would make the greatest and longest impact. Unlike other “start-up” industries, there was no capital readily available to fund these companies through lumpy periods and challenges. Our entrepreneurial Managing Directors each offer a solution to the community. They offer services that will be needed for the long-term and are intelligent in that they keep their fingers on the pulse, so together we know how to proactively plan for change. Diversity has served our companies well and in fact, offers us the opportunity to develop new solutions that may not come to a single-business.”
In conclusion, Mr. Feinsod tells CEOCFO, “we are professionally diverse, well positioned and prepared, well-funded, and here for the long-term. General Cannabis invests not only in our entrepreneurs, but also to the industry. We thrive on being able to solve problems, develop innovative strategies and most importantly, we believe in the power of the plant. We can create synergies quicker than others and our service and product knowledge run deep.”
SOURCE: CEOCFO Magazine
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