Viridian Capital Advisors is pleased to announce that Ms. Lindy Snider has joined the Viridian Advisory Board. 

 
Ms. Snider is the founder and CEO of Lindi Skin LLC, the first full line of skin care products for cancer patients found in most major cancer centers across the U.S.  She served in multiple senior level roles at Comcast-Spectacor, a leading hospitality firm in the live sports and entertainment industry, in sales, marketing, operational and strategic capacities across the organization. Ms. Snider was a key member of the senior team managing the development of the Wells-Fargo Center at the South Philadelphia Sports Complex and oversaw the project’s capitalization process. She served as Vice President of Sales and Marketing for the Flyers organization and was also responsible for helping develop the organization’s Ticketmaster franchise in the Tri-State Area.  She serves on the Boards of CancerForward and Fox Chase Cancer Center, is a Board Member at the Schuylkill Center for Environmental Education, and served as a Member of the Board at the American Jewish Museum and the National Multiple Sclerosis Society. She attended Ithaca College and The University of Pennsylvania.
Ms. Snider is an active investor and advisor to many companies, including medical cannabis-related businesses. She is a passionate entrepreneur, dedicated philanthropist, and champion of both start-ups and women-owned businesses, currently sitting on over 20 boards and advisory groups.  Focused on new business development, brand marketing, and investing, she identifies and helps mentor innovative companies and initiatives in the start-up and medical cannabis spaces, including Greenhouse Ventures, Kind Financial, Athletes for Care, Lenitiv Scientific, and the Entrepreneurship and Social Impact Initiative (ESII), a division of the Lambert Center for the Study of Medicinal Cannabis and Hemp.
Ms. Snider commented, "The legal cannabis industry is one of the fastest growing markets in the world. Along with this growth comes the need for experienced management teams and investors that can help to properly guide emerging growth companies as they scale. Viridian Capital’s strategy to help to professionalize cannabis businesses as well as provide access to capital and M&A fits my vision for the industry, which is why i’m excited to join the Viridian Advisory Board."
 
Scott Greiper, President of Viridian Capital Advisors, stated, "Lindy Snider has emerged as a leading investor and advisor to emerging growth companies in the cannabis marketplace. Her business skill and track record are matched by her focus on philanthropy and charity. These qualities will bring real value to our practice and our clients, and we are thrilled to have Lindy join the Viridian team."
About Viridian Capital Advisors, LLC
Viridian Capital Advisors (www.viridianca.com) is a financial and strategic advisory firm dedicated to the cannabis market. We are a data and market intelligence driven firm that provides investment banking, M&A, corporate development, and investor relations services to emerging growth companies and qualified investors in the cannabis sector. Our banking practice, through broker-dealer Pickwick Capital Partners, LLC (Member FINRA/SIPC), provides capital and M&A to fund the growth of our clients, while our advisory practice helps to position and build their businesses. Our team’s decades of high level operating and transactional experience on Wall Street in a variety of emerging sectors, allows Viridian to provide comprehensive strategic and financial solutions that assist cannabis enterprises in realizing their full potential.
 


The future of cannabis medicine is here. On November 8th, 2016 Florida passed Amendment 2. Also known as the Florida Medical Marijuana Legalization Initiative, Amendment 2 aims to alleviate those suffering from debilitating conditions such as Glaucoma, Cancer, Epilepsy, HIV/AIDS, Crohn’s Disease, Multiple Sclerosis, Parkinson’s Disease, Posttraumatic Stress Disorder (PTSD), and Amyotrophic Lateral Sclerosis (ALS). Under the current measure, physicians will oversee all medical marijuana prescriptions. The amendment also indicates that the Department of Health has until July 3rd, 2017 to make the final regulations. However, healthcare professionals must begin preparing now.

In 2016 alone, there were an estimated 1,246,170 medical cannabis patients in the United States. These numbers are only expected to rise during 2017. Florida legislators recently passed two bills to expand the framework of a legal marijuana program, allowing up to 425 medical marijuana dispensaries in Florida, so healthcare professionals can expect to see a substantial increase in the number of patients seeking cannabis medicine. To meet this growing demand, professionals working in the healthcare industry must begin educating themselves as soon as possible.
 
HempStaff is an industry leader in cannabis education, training, and recruitment. HempStaff trainers all have a minimum of five years of experience working in the cannabis industry, with a minimum of two years as a dispensary manager. While not medical professionals, this group of seasoned specialists are dedicated to credible and quality cannabis education. HempStaff has teamed up with industry experts to design a curriculum to educate students on the therapeutic benefits and applications of cannabis.
 
What does a training class with HempStaff include? Students who participate in HempStaff Dispensary Agent Training classes will be educated on topics such as:
• Florida Law as it applies to cardholders, caregivers, dispensaries, processors, cultivation centers and employees
• The biology of the plant – Cannabinoids and Terpenes
• The biology of the body – Endocannabinoid System, CB1 and CB2 receptors and why cannabis works
• Top 20 cannabis products nationwide and the symptoms those products are most effective for
• Dosage recommendations, consumption methods and much more
 
In addition, by participating in the training course, students have the opportunity to return to any future training sessions, based on availability, free of charge. HempStaff knows that laws are constantly updated during the early months of a medical marijuana program, which is why they aim to make education as accessible as possible. Whether you are interested in expanding your current knowledge or networking with like-minded professionals, once you have participated in a HempStaff training session, you can enjoy the benefits for years to come.
 
Not sure if participating in the HempStaff Dispensary Agent Training class is right for you? HempStaff students come from a variety of backgrounds that include Physicians, Pharmacists, Nurses and everyday people who have a passion for the cannabis plant and compassion for the patients who need it. HempStaff equips students with the knowledge they need to do the job and the professionalism they need to do it correctly. Upon finishing the course, students become a knowledgeable resource for cannabis medicine, regulation, and administration.
 
In addition, courses also provide the opportunity to network and recruit. HempStaff knows just how important staffing a cannabis business can be. As seasoned cannabis industry recruiters, HempStaff has the resources and staff to find the right job match for your cannabis business.
 
The cannabis industry is anticipated to grow exponentially in the coming years. Now is the time to increase your understanding of this medicine and its future.
 
Don’t delay – secure your seat for our summer training courses in Florida:
July 29th – West Palm Beach
July 30th – Miami
August 25th – Tampa
August 26th – Orlando


Investors are rarely presented with the opportunity to get in on the ground floor of an industry poised to see incremental revenue growth for decades to come. The last time investors had this opportunity was during the tech boom, which created countless millionaires.

During the last few years, the market has seen a marijuana revolution as countries around the world have reformed their laws and have legalized medical marijuana. Although the United States marijuana industry continues to gather most of the attention, this revolution is happening all around the world.
 
The marijuana train has left the station and we have seen countries and continents such as Australia, Puerto Rico, Germany, Mexico, Uruguay, Canada, Israel, the Netherlands, and Portugal legalize or decriminalize medical marijuana.
 
The Next Big Growth Sector
Marijuana legalization may not be a top priority for the United States right now, but change is occurring all over the world and this has created a once in a lifetime opportunity for investors. Although the cannabis sector offers investors a lot of opportunity, it offers even more risk and one must be cautious before entering this market.
 
Over the last two years, the market has seen a significant increase in the number of publicly traded cannabis companies and as this number has increased, so has the number of cannabis stock promoters, which has made it more difficult for investors to find value.
 
The stock market continues to serve as the easiest and most efficient way to invest in companies levered to the emerging global cannabis industry. The cannabis industry has seen incredible growth over the last few years and so has the public markets.
 
New Opportunities Continue to Emerge 
In 2014, there were around 70 publicly traded companies that claimed to be levered to the cannabis industry. Today, there are more than 350 and less than 5% trade on a regulated stock exchange like the New York Stock Exchange or Nasdaq. Most of these stocks trade on the over-the-counter (OTC) exchange, which is also referred to as the pink sheets.
 
Although many of these companies present attractive growth stories, investors must be cautious and conduct thorough due diligence before investing. Stocks that trade on the pink sheets typically do not meet the minimum requirements for most exchanges and do not file important company documents (company financials, insider trading, quarterly earnings, etc.) with the Securities Exchange Commission (SEC).
 
We continue to prefer companies that are fully reporting and recommend that investors conduct thorough due diligence before investing. From the management team’s track record to the recently announced business initiatives, investors need to look under the hood before buying. Some of the basic guidelines investors should follow include:
 
1. Call the company and ask to speak with someone from management;
2. Ask if they have audited financials and see how strong the balance sheet is;
3. Request a site visit and a business plan.
 
Green Is the New Gold
The legal cannabis industry is already a multi-billion-dollar industry and it is not even in the first inning of what will be a multi-decade growth cycle. The growth of the cannabis industry has led to the creation of sectors within it and these sectors are comprised of ancillary businesses, which are levered to the growth of the cannabis industry.
 
These businesses sell products and services such as specialty soils, climate control systems, grow lights, vaporizers, security solutions, and more. Over 150 years ago the market saw a similar opportunity, and today, investors can capitalize on it.
 
During the gold rush, most people did not make their fortunes mining for gold. The real winners were people such as Samuel Brannan and Levi Strauss, who sold the ancillary products to the gold miners (i.e. picks, shovels, clothing, etc.).
 
Today, there is a similar trend in the cannabis industry where many ancillary businesses seek to capitalize on the green rush. The opportunities are available and investors should reach out to support@technical420.com to learn more!


How we got here

Well, it took the Florida Legislature several tries to enact legislation reflecting the public’s will concerning the use of medical marijuana in this state. However, during the Special Session held in June, the 2017 Florida Legislature appears to have accomplished this objective. Before discussing what happened earlier this year, it is helpful to recall how it evolved.
 
Over the past 20 years, a majority of states have passed legislation authorizing their citizens to possess and use marijuana. In some states, the legislatures enacted measures addressing the use of marijuana only for medical purposes, so-called “medical marijuana”. Other states have also permitted recreational use of marijuana.
 
Florida’s response to the growing trend to legalize some uses of marijuana has been slow. The Florida Legislature resisted addressing this issue. Thus, in 2014 a petition drive gathered enough signatures to put a proposed amendment to the Florida Constitution that would have legalized certain medical uses of marijuana. Although the amendment was approved by 57% of the voters in that off-year election, that fell short of the 60% approval required for adoption.
 
The Florida Legislature passed and Governor Scott has signed the "Compassionate Medical Cannabis Act of 2014" (the “Compassionate Care Act”). Section 381.986, Florida Statutes. This legislation permitted a limited number of patients to obtain marijuana legally to treat a limited range of medical conditions. In many peoples’ view, the Compassionate Care Act did not go far enough. For example, it authorized the growing, production, and distribution of a relatively low potency strain of marijuana (referred to as “Charlotte’s Web”), limited the medical conditions for which it could be prescribed, and restricted the number of vertically integrated organizations (i.e., organizations that are licensed to grow, process, and distribute marijuana) that could enter this business.
 
Those who supported making medical marijuana available to a broader section of the population went back to the drawing board, initiated another petition drive, and were able to have another proposed amendment to the Florida Constitution placed on the ballot in 2016 (“Amendment 2”). Unlike the 2014 ballot initiative, Amendment 2 received the approval of over 70% of those voting, thereby automatically becoming part of the state’s constitution. As a result, during its recent Special Session, the Florida Legislature passed enabling legislation that Governor Scott is committed to signing. Senate Bills 6A and 8A (Medical Marijuana Registry and Medical Use of Marijuana, respectively, and collectively referred to herein as the “2016 Act”).
 
The Compassionate Care Act authorized those patients diagnosed with a “qualifying condition”, i.e., cancer, epilepsy, glaucoma, HIV, AIDS, PTSD, ALS, Crohn’s disease, Parkinson’s disease, MS, or “other debilitation medical conditions of the same kind or class or comparable to those enumerated” to receive so-called “Low-THC” cannabis. While all of these “qualifying conditions” are included in the 2016 Act, it also includes patients who have chronic pain relating to one of these “qualifying conditions” or are terminally ill. Further, there is no longer a limitation regarding the strength of the cannabis that may be administered.
 
Under the 2016 Act, eligibility to receive medical marijuana has been limited to those individuals who not only have a “qualifying condition”, but who also are (i) Florida residents, (ii) registered on the Department of Health’s Medical Marijuana Use Registry, and (iii) received Medical Marijuana Use Registry identification cards. However, once an individual has received a Registry identification card, there is no additional waiting period before they can receive medical marijuana.
 
In order to prescribe medical marijuana, an authorized physician (i.e., one who has undergone a mandatory training program and received authorization to prescribe medical marijuana) must personally supervise a patient’s examination. As part of that examination, the physician must determine that the patient has a “qualifying condition”, and the benefits likely to be derived from his/her using medical marijuana outweigh the risks associated with this treatment. Although regulations still need to be adopted, the 2016 Act permits an authorized physician to give a patient one (1) initial seventy (70) day supply and two (2) refills of equal duration of medical marijuana.     
 
As with any new law, Amendment 2 and the 2016 Act leave many unanswered questions that are likely to impact patients in Florida who are eligible to receive medical marijuana, physicians who are authorized to prescribe this substance, hospitals and other healthcare facilities charged with responsibility for treating these patients, their employers, law enforcement agencies, and others in the community. Patients with “qualifying conditions”, physicians authorized to certify the need for medical marijuana, and entrepreneurs who believe this presents a business opportunity all would be well served to work with legal counsel and consultants who have knowledge concerning the status of medical marijuana in Florida.
 
Where are we going?
“Florida and Medical Marijuana; How we got here”, briefly reviewed the efforts in Florida to legalize medical marijuana. Now we will review some additional provisions of the 2016 Act. We will also raises some questions that the 2016 Amendment and the 2016 Act have left unresolved.
 
No Waiting Period. One of the most significant changes in the 2016 Act is the elimination of 90-day waiting period required under the Compassionate Care Act. Thus, a patient who is examined by an authorized physician and determined to have a “qualifying condition”, will be eligible to receive medical marijuana immediately.
 
Identifying a “qualifying condition”. Both the Compassionate Care Act and the 2016 Act include within the definition of a “qualifying condition” any “other debilitation medical conditions of the same kind or class or comparable to those enumerated” in the statute. This appears to leave authorized physicians with wide latitude in determining whether a patient who does not have one of the enumerated “qualifying conditions” should be prescribed medical marijuana. However, until either the Department of Health, Board of Medicine, or Board of Osteopathic Medicine issues further guidance, authorized physicians should not seek to push the envelope concerning which patients should receive this drug.
 
No Smoking. The 2016 Act also addressed the issue of how medical marijuana may be dispensed to a patient. Patients may receive medical marijuana in the form of edibles and in tamper-proof vaping receptacles. Medical marijuana may not be dispensed in a form that may be smoked.
 
Licensed Growers, Processers, and Dispensaries. The Compassionate Care Act established a vertically integrated program for licensees to grow, process, and distribute medical marijuana. The 2016 Act has retained this closed vertically integrated licensing system, with some important differences. First, ten (10) additional licensees (five (5) in July and another five (5) in October) will be added to the seven (7) organizations that currently are licensed in Florida. Thereafter, for each additional 100,000 patients added to the Medical Marijuana Use Registry, four (4) additional licenses are to be issued. Second, each licensee will be permitted to open twenty-five (25) dispensaries around the state. What is not clear is whether local governments will be able to ban or specifically regulate where dispensaries in their jurisdictions can be located.
 
Role of Telemedicine. As noted in Part 1, the 2016 Act expressly requires an authorized physician to personally supervise the examination of a patient in order to determine whether he/she has a “qualifying condition”. What remains unclear is whether an authorized physician also must personally examine a patient seeking refills of their medical marijuana prescription. The Florida Board of Medicine has scheduled a public hearing on this question in early August.
 
Federal Enforcement. Since the early 1970’s marijuana has been classified as a Schedule 1 drug – one with no known medicinal or other legitimate use. Despite efforts during the Obama Administration to decriminalize the possession of small amounts of marijuana, with some support from Congress, that classification remains in effect today. Members of the Trump Administration, particularly Attorney General Sessions and HHS Secretary Price, have indicated that they are opposed to any effort to reclassify marijuana. Indeed, Attorney General Sessions has indicated his view that all violations of federal law should be prosecuted, including those involving possession of marijuana. Thus, an important unanswered question remains concerning what position this administration will take regarding Florida and the other states that have legalized the production, processing and distribution of some form of medical marijuana. (Those states that have legalized the recreational use of marijuana should have even greater concern with the federal government’s position.) Some of the questions raised by this conflict between federal and Florida law include:
– Will the seven (7), soon to be seventeen (17) licensees be prosecuted?
– What about the physicians who have received authorizations to prescribe medical marijuana?
– Will patients with Qualified Conditions risk arrest and prosecution for possession of marijuana?
 
Tourists. Amendment 2 and the 2016 Act authorize a limited class of Florida residents to possess and consume certain forms of medical marijuana. It seems inevitable that there will be tourists and business travelers who will come into this state in possession of medical marijuana legally obtained in another jurisdiction. To date, there has been no guidance concerning how law enforcement will treat these individuals. Similarly, what will happen if one of these travelers either forgets to bring or consumes their supply of medical marijuana while in Florida, will they be able to obtain a “refill”?
 
Amendment 2 and the 2016 Act have left many more questions unanswered. For example, how are employers supposed to react when employees are prescribed medical marijuana; will travelers in airports be permitted to possess legally obtained marijuana (the Greater Orlando Aviation Authority is considering a policy to have these individuals arrested); will medical marijuana ever be covered by health insurance; and will marijuana dispensaries be classified as “clinics”?
 
While legalizing medical marijuana promises to bring many Floridians relief, in addition to the clinical questions surrounding its use, there are many legal and practical questions that need to be considered. Physicians and lay persons who are looking at this as a business opportunity will be well advised to seek the assistance of legal counsel and other consultants who have expertise in this area.
 


Until 1942 physicians could write prescriptions for marijuana. Today, 75 years later, that same prescription is illegal under both Florida and Federal Law.(1) With the implementation of Amendment 2, Florida-licensed physicians are permitted to certify qualifying patients for medical marijuana use(2), yet most physicians are conservatively cautious for fear of legal repercussions. As evidenced by the latest numbers obtained from the Office of Compassionate Use Registry, only 1.5% of Florida physicians are registered to certify and order medical marijuana for patients.(3) In other states, some physicians have taken advantage of the lack of competition; in Oregon, for example, only 24 physicians accounted for 75% of total medical marijuana patient applications.(4)

Since November 8,(5) physicians have seen an increase in patient curiosity concerning medical marijuana. However, many physicians avoid discussing medical marijuana with patients for fear of losing their DEA licenses or being implicated in aiding, abetting, or conspiring to commit a federal offense. Existing law indicates that it is not as much of a concern as they believe. In Conant v. Walters,(6) the Ninth Circuit held that (i) physicians have a First Amendment right to recommend medical marijuana to their patients and (ii) physicians who merely discuss the pros and cons of medical marijuana use cannot have their DEA license revoked. The Ninth Circuit’s decision is persuasive authority for Florida’s Eleventh Circuit jurisdiction. Moreover, the Supreme Court has recognized that physicians’ speech is protected under the First Amendment due to the significance of the doctor-patient relationship(7) and is entitled to “the strongest protection our Constitution has to offer.”(8)
 
Because it is not federally legal, however, ordering medical marijuana for patients on Florida’s Compassionate Use Registry could expose physicians to liability if the order appears, instead, to be a prescription. Currently, the Compassionate Use Registry allows physicians to enter specific instructions for patients concerning their medical marijuana use. The more specific a physicians’ comments and instructions are, the more likely their “order” starts to sound like a “prescription,” exposing the physician to potential liability. Presently, the Compassionate Use Registry directs physicians creating a patients’ medical marijuana order to input specific information, such as: (i) route of administration; (ii) order notes; (iii) amount of Cannabidiol (CBD) per dose; (iv) number of doses per day, and; (v) the option to authorize the patient to purchase medical marijuana delivery devices. This particular information, if inputted by the ordering physician, could be construed as the physician possessing the specific intent to aid a patient to acquire marijuana, which would constitute a federal offense due to marijuana’s designation as a Schedule I drug under the Controlled Substances Act.
 
However, based on the significance of the doctor-patient relationship, physicians should not be fearful of exposing themselves to liability by merely recommending and/or discussing medical marijuana with their patients. It is vitally important to note the subtle, yet distinct difference between a “prescription” for the medical use of marijuana which is illegal and carries significant penalties, and a “recommendation” for the same. By contrast, a “recommendation” that a patient has a certain condition and could benefit from medical marijuana is permissible and will not implicate legal liability. It is equally important to note that any discussion of medical marijuana with patients should include the following points:
• Effectiveness of marijuana as treatment;
• Potential risks and side effects of marijuana;
• Current state of marijuana knowledge in the medical community;
• Medically acceptable alternatives to marijuana;
• Possible addictive properties of marijuana;
• The risks of smoking marijuana;
• Possible termination from employment for marijuana use;
• Possible lack of coverage or denial of claims from Insurance companies;
• Locations and delivery capabilities of the seven (7) licensed dispensaries; and
• The Compassionate Use Registry is accessible to law enforcement agencies.
 
Physicians interested in becoming more involved in the medical marijuana space should turn to the literature to better understand cannabinoid physiology, the neurochemical effects of marijuana and its pharmacological interactions. Additionally, they should dedicate themselves to learning the effects of the various chemical compounds found in marijuana;(9) complete the 8-hour CME course offered by the Florida Medical Association or the Florida Osteopathic Medical Association;(10) cultivate 90-day physician-patient relationships; wait until the “July 3rd” deadline(11) by which the Florida Department of Health is scheduled to release rules within the parameters of Amendment 2; familiarize themselves with sample templates for patient treatment plans;(12) stay up-to-date with Office of Compassionate Use Bi-Weekly updates;(13) look into acquiring medical marijuana malpractice insurance; and update their procedure and patient disclosure forms.