Ray Gracewood, of Organigram Inc., joins to discuss the effects of federal legalization in Canada, the long process of getting the industry to a solid place, and where the rest of the world is by comparison. “It even gets more interesting when you start to couple the realities in and around how governments work and how we have to manage government relation and expectations and how we have to be an engaged partner in a lot of that process. And I think as an industry we’ve been able to do that.” Because of all the bumps along the road, Gracewood notes that everyone involved in the industry has had to learn to become nimble and focused on solutions rather than on problems. Gracewood also discusses business and how to maintain profitability even in the face of compliance issues and supply issues; for him, it’s a matter of sticking to strategy and not becoming distracted by too many new opportunities.
Seth Adler:
Ray Gracewood returns. Welcome to Cannabis Economy. I'm your host Seth Adler. Download episodes on CannEconomy.com that's two N's and the word economy, or wherever you currently get your podcasts. First a word from our supporter and then Ray Gracewood.
Seth Adler:
I've known the family behind Medicine Man for the past eight years. Pioneers in Colorado, the family business helped set the path for global adult use cannabis. Mg Magazine has voted them Top 50 Cannabis Companies to work for, two consecutive years running. Check out their website at MedicineManDenver.com or visit one of their locations in Denver, Aurora, Thornton or Longmont the next time you're in Colorado to understand how one family has helped chart the course for the next great American industry.
Seth Adler:
Ray Gracewood, Organigram. It's been a minute since we did this with the microphones.
Ray Gracewood:
Yeah.
Seth Adler:
Right?
Ray Gracewood:
I'd say what? It's been over three years.
Seth Adler:
Has it been that long?
Ray Gracewood:
Yeah, I think so.
Seth Adler:
Oh, my goodness.
Ray Gracewood:
Yeah. Short story. You were the very first industry podcast I've ever done.
Seth Adler:
Oh, look at that.
Ray Gracewood:
Yeah. Yeah. For sure, I remember it fondly.
Seth Adler:
Look at that. So, if we've spoken, you know, if it's been that long, give us a sense, right, of where we were, tent-pole moments, and then where we are in the life of Ray and Organigram.
Ray Gracewood:
Well, if I can think back to the state of the union, the state of our industry in Canada at the time.
Seth Adler:
Yes, yep.
Ray Gracewood:
We hadn't yet legalized.
Seth Adler:
That's correct.
Ray Gracewood:
So we would have been a small fledgling medical-based business at the time.
Seth Adler:
Yep. And you would have had those still, a federally mandated medical market.
Ray Gracewood:
Correct.
Seth Adler:
Yeah.
Ray Gracewood:
Yeah.
Seth Adler:
See, that's still something that us here in the U.S.-
Ray Gracewood:
You're waiting for.
Seth Adler:
Right.
Ray Gracewood:
Yeah.
Seth Adler:
So it's like, you know, you-
Ray Gracewood:
So, you're saying we're spoiled?
Seth Adler:
Totally spoiled.
Ray Gracewood:
We've been spoiled.
Seth Adler:
Exactly.
Ray Gracewood:
We've been spoiled. Yeah.
Seth Adler:
But we were eyeing down adult use, is what we were doing.
Ray Gracewood:
Yeah. And I think at the time, we were very much planning for what the world was going to look like in that we didn't know what the regulations were. We were making a lot of assumptions, making a lot of decisions on how we thought things were going to go from province to province.
Seth Adler:
Right.
Ray Gracewood:
Just even in terms of product forms and all those kinds of things.
Seth Adler:
Yeah.
Ray Gracewood:
So obviously now, all of that.
Seth Adler:
We weren't allowed to have edibles, I think at the time. Or what was it? What was the crazy thing?
Ray Gracewood:
Well, here's the interesting thing.
Seth Adler:
Yeah.
Ray Gracewood:
So when they were developing C45, that's the act, right?
Seth Adler:
Yeah.
Ray Gracewood:
We always knew that there would be a sunset provision in that for edibles, concentrates, topicals, all that kind of stuff, right?
Seth Adler:
Right.
Ray Gracewood:
So we knew that it would be coming.
Seth Adler:
Yeah.
Ray Gracewood:
But we also had a really good sense that it was going to be at least a year after.
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