CFN Media Exclusive Interview With General Cannabis COO, Joe Hodas


Rachelle Gordon

September 12th, 2018

Uncategorized


Joe Hodas, COO of General Cannabis Corp.

General Cannabis (OTCMKTS:CANN) is a vertically-integrated company that owns several unique brands offering a vast array of industry-specific services, including Iron Protection Group (security), Next Big Crop (consulting), Chiefton (apparel design and branding), and GC Capital (business development). In their recent quarterly report, the company boasted a 30% increase in year-to-date gross revenue and exceeded the $1 million in revenue in Q2 of 2018 for the first time.

CFN Media sat down with General Cannabis Chief Operating Officer, Joe Hodas, at the recent MJBizConINT’L conference in Toronto to gain insight on the company’s progress and the state of the industry as a whole.

 

CFN: What are the latest developments for the General Cannabis family?

 

Joe Hodas: Our overall goal is to continue to build the scale and the scope of the different companies that we have underneath that umbrella. My hope is more acquisitions by the end of the year, it’s something we’re constantly looking at. And then building onto the existing businesses we have to add additional revenue capacity there. We’re about to head into a big rebranding effort, which is exciting. We’re doing all these great things and we have companies that are so unique, but it can be a challenge to articulate our value proposition.

For Next Big Crop we’ve been on a tear with some licenses we won, including Pennsylvania and Ohio. We’re waiting to hear back on Virginia, and we are actively building out in Maryland and California.

 

CFN: You recently announced a distribution agreement with Tilly’s for Chieftain Supply Company. What makes the apparel category unique in terms of branding strategies?

 

JH: The Tilly’s deal was so exciting; we’re really eager to see hemp apparel in stores that are more mainstream. We recently attended Outdoor Retailer, the largest outdoor sports expo and conference in the world, and had quite a bit of interest there as well – it’s such a great opportunity. It’s interesting on the cannabis side, because apparel is one of the few, I would call them non-regulated marketing channels we have, and I think a lot of marketers don’t think of it in those terms. They don’t think about the fact that they aren’t able to use traditional advertising methods, such as billboards or television ads. One thing you can do is you can give everybody a shirt or a backpack or hat that has your brand all over it. Apparel is an interesting channel I think for cannabis companies to continue to look at as well.

 

CFN: The announcement that Constellation Brands would be investing another $4 billion in Canopy Growth sent shockwaves through the cannabis markets. What does it mean for this nascent industry?

 

JH: Overall, it shows there’s momentum and interest in the space. You have companies like Constellation who are willing to take a risk and make a big investment. So that’s the upside obviously. The downside in my mind is that the deal is of a bit of unicorn in a sense. The majority of the industry is not playing at that level. The deal was also done based on limited insight into what the next couple years will bring for that type of investment. It sets sometimes unrealistic expectations about valuations, the value in the space, who is looking to invest in this space.

 

CFN: Why should potential investors or partners work with General Cannabis?

 

JH: I’ve been in cannabis for five years now and one of the things this industry really lacks is transparency. The thing that I’ve learned since being at General Cannabis is that our almost maniacal focus on SEC compliance, our reporting, and just the way we function as a publicly traded company, is like no other business I’ve seen in this space. What that means is when someone partners with us, we are a completely open book. There isn’t anything that we can possibly be hiding because everything gets reported. I think that’s a real benefit to customers and companies that are looking for a resource that can be honest and have integrity in doing business and at the very least establishes credibility for customers in a way that maybe some other businesses aren’t able to.

 

To learn more about investing in cannabis, sign up for our free newsletter using the form to the right.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Rachelle Gordon

Rachelle Gordon is a Minneapolis-based writer. Find her online at www.rachellegordon.net.


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