Kyle Kazan, GLASF GHBWF CEO and Chairman of Glass House Brands, Inc. (CBOE CA: GLAS.AU) (CBOE CA: GLAS.WT.U), said that the number of people in prison for marijuana is It has to end,” he said. That many people are still locked up in federal prisons and “living in cages” in plants.
Kazan told the crowd gathered at the Benzinga Cannabis Capital Conference in Hollywood, Florida on Tuesday that he picked up the phone and called his representatives in Congress and President Joe Biden, saying, “I'm not saying simple possession.'' ”, he called for a reminder.
“When you (Biden) said you were going to pardon people, you meant you were going to pardon people for marijuana and you were going to do that,” he said during his keynote, managing director of Water Tower Research. Director Jesse Redmond.
See also: Exclusive: Glasshouse CEO says 'legalizing cannabis is not just about economics, it's about righting past wrongs'
California: A tough place for cannabis retail
Kazan's company operates 10 stores in the Golden State and has plans to expand its retail footprint throughout the state. But Kazan says it's difficult to make money in retail in California.
Still, Glass House performed exceptionally well during a tough time for many California operators. The company reported last month that annual revenue rose 89% to $160.8 million, setting a new record.
The formula that worked for Glass House, Kazan continued, was to focus on “getting the best cannabis possible” and “giving it to people at the best price possible.” Ta.
Entering the company's new line of cannabis products under its valued cannabis brand “Allswell.”
“We rolled it out to consumers this year for $9.99,” Kazan said. “We think the best way to attack the illegal market is to bring people together.”
But he explained that even though cannabis is grown “well” and “cheaply” in California, many companies continue to struggle.
In addition to high taxes, traditional markets are thriving, which Kazan says is “both a blessing and a curse.”
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why?
California has a decades-long history with cannabis. “California has been growing cannabis in the Emerald Triangle for a long time.” He said traditional markets were allowed to flourish because “the police didn't take this as seriously.”
Meanwhile, the low prices of illegal cannabis are hitting legal businesses the hardest.
Federal legalization of marijuana would end most of the challenges facing marijuana businesses in California and across the country.
But until that happens, Glass House will continue to grow in California.
Read now: Exclusive: 'Undo the harm of the war on drugs', says Glasshouse CEO
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