Chuck Smith joins us and shares the potential of the States Act and its effect on the industry: “I think for the country to say, ‘Look, these are legitimate business people. They’re creating hundreds of thousands of jobs and creating a billion dollars worth of tax revenue. We need to treat them like any other industry.’ That’s what the States Act is all about. Now, we’re going to do everything we can to support it.”
Seth Adler: Chuck Smith returns. Chuck Smith returns. Welcome to Cannabis Economy. I'm your host Seth Adler. Download episodes on canneconomy.com, and the world economy or wherever you currently get your podcasts. First a piece of a conversation that I had with Nicole Smith of Evolab, and then Chuck Smith.
Nicole Smith: Licensing is just problematic. Generally, you're sharing your IP in a variety of different locations and trying to replicate manufacturing across multiple states. It's just intensely problematic not only for the company that's trying to license, but also for the licensee. It just really became difficult to figure out the right way to do that, protect intellectual property, and all of those sorts of challenges that come along with it. What we decided was easier was to develop an infrastructure where we can produce our formulations without THC and make them available to everyone.
Seth Adler: I can see that this is Chuck Smith.
Chuck Smith: It is. Nice to see you again.
Seth Adler: From Dixie Brands. I know you so long. I remember when it was called Dixie Elixirs.
Chuck Smith: That's right. We've come a long way baby.
Seth Adler: So, what. I mean, let's just go ahead and lay it on them. What are we talking about?
Chuck Smith: Well, we're here at the MJ Business Conference and we have exciting news that yesterday morning got our conditional approval by the CSC for Dixie to start trading as a public company in Canada by the end of November.
Seth Adler: Is this through reverse merger?
Chuck Smith: It is. It's called RTO, or Reverse take over-
Seth Adler: Out there, it is indeed. Yes.
Chuck Smith: ... That's correct. We've been working on this since May. We've done a lot in a short period of time. Although we have great investor support and great market support and so we're really excited.
Seth Adler: Congratulations.
Chuck Smith: Thank you.
Seth Adler: I only know you for the past five years. I know you guys were in business before that, but for you to be doing this now with ... you do touch the cannabis, don't you? You know what I'm saying? In other words, if you and I were to have this conversation in 2013, both of us would think each other were insane.
Chuck Smith: Well, that's right, but you can just see here at MJ Business Conference, five years ago when we were here, there were 400 of us looking at each other wondering what the next move was going to be, and what is there? 25,000 people at the show.
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