Corvid-19 is creating cannabis opportunities for Nevada Cultivation Solaris Farms, an industrial scale cultivator in Nevada, has adjusted their growth strategy to take advantage of the opportunities created by the CoronaVirus. Michael Sassano talks to Dan Humiston about the changes they've made including some of their recent acquisitions on a Special Cannabis and Corona Report. Produced by PodCONX Sponsored By BioTrack
Corvid-19 is creating cannabis opportunities for Nevada Cultivation
Solaris Farms, an industrial scale cultivator in Nevada, has adjusted their growth strategy to take advantage of the opportunities created by the CoronaVirus. Michael Sassano talks to Dan Humiston about the changes they've made including some of their recent acquisitions on a Special Cannabis and Corona Report.
Produced by PodCONX
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Michael Sassano: [00:01:06] They want it to go into that state and they like that. Feel good? Or while you're gonna love that deal now that deals still on the table. And in general, these deals are only get better if you are an investor in the market.
Michael Sassano: [00:01:20] We picked up a deal for two dispensaries that were at a higher price and now are at a lower price.
Dan Humiston: [00:01:30] From MJ MJBulls Media, it's the Raising Cannabis Capital show.
Dan Humiston: [00:01:41] I'm Dan Humiston. And on today's show, we're continuing the Cannabis plus Corona Equals Opportunity series with another Cannabis entreprenuer, who, by refusing to let fear of the virus cloud his judgment, is discovering new opportunities for his company, not just to survive during the crisis, but to thrive.
Dan Humiston: [00:02:07] Jan Raising Cannabis Capital, we have another special report on uncovering Cannabis opportunities created by the Corona virus.
Dan Humiston: [00:02:14] And joining me to talk about cultivation in Nevada is Michael Casano from Solaris Farms. Michael, welcome to the show.
Michael Sassano: [00:02:21] Thank you very much. Good to be on.
Dan Humiston: [00:02:23] Well, I appreciate you taking time out to speak with us today. Is Solaris Farms is a large scale industrial greenhouse cultivator and you're located in the heart of Las Vegas. So you're the perfect person to talk about how the virus is impacting the cultivation sector in Nevada. I guess to start, can you kind of give us an overview of your market roughly? What were your pre corona numbers like? How much were you producing like? Just give us an idea where the baseline was.
Michael Sassano: [00:02:52] Well, as far as Solaris Firearms were in a perpetual rotation, we harvest pre and post Corona virus between two to 400 pounds dry every single two and a half weeks. So we pulled down a four thousand square foot bay with over a thousand plants every two and a half weeks here. And that hasn't stopped post corona virus.
Dan Humiston: [00:03:12] Yeah. Good. I mean, that's encouraging because, you know, you hear a lot of the sky is falling mentality in other sectors. And everybody that we're talking to in this industry, we're not seeing that. I know things are changing hourly and we're recording this episode just so our listeners know on March 24th. So things may change, but as of today, how has the virus impacted things?
Michael Sassano: [00:03:35] Well, in Nevada, the Cannabis industry was deemed essential. So while we are here to get the medicine out to the patients, get the product to the customers, we have had impacts to the how the dispensaries are run. No crowds. People weren't exactly adhering to that. So they had to stop in store visits. You know, we all we have a robust delivery economy here. Ultimately, it kicked into deliveries and there's two and a half hour late or lag time just to get through the delivery stage.
Dan Humiston: [00:04:08] I mean, that's encouraging. It's too bad that we had to make that changes with the dispensaries. What changes are you doing internally within your company? I mean, you have to be concerned about employees and you have to be concerned about there's probably a lot of adjustments that you've made while the employees are our first concern and their safety.
Michael Sassano: [00:04:27] We implemented procedures to check temperature before people walk into the door if somebody should be sick. We asked them to stay away from 7 to 14 days unless they get a note from a doctor or CBS. CBS has been very good at giving tests to people. We had three guys tested just in case. Also, internally, we keep everybody with a nice distance and cleaning protocols have been heightened even though we are a antibacterials zone. I mean, we're fighting things like aspergillus that is naturally in the air in quantity coming into the facility. So clearly fighting an obscure virus that may come in on people or clothes is just a little extra care.
Dan Humiston: [00:05:11] And then we have to put it. I think those are all necessary. I mean, you got to make sure that your employees are safe and feel confident when they come to work. You have some ideas as far as crop rotation in case you need to slow down productivity or make some adjustments. Maybe you can give us an ideas strategies if you have to make any adjustments in your business model.
Michael Sassano: [00:05:33] Well, I mean, initially I had proposed to investors and the Solaris Farm Board to slow things out, pull a crop out of rotation rather than doing two harvests. Going forward a month, we would end up doing one harvest a month. And, you know, in there we would rotate in some new genetics. We always wanted to rotate, but we never had the time to do. But as far as our decision recently went, we've decided to keep on with where we're at and accumulate any unsold product as inventory and wait for better times what we initially started to prepare for and where we ended up. I actually had no change.
Dan Humiston: [00:06:14] That is so encouraging. Again, like I said, with all the negative that you're hearing, it's great to hear that things haven't really changed. And you you're moving forward just like you were before. Under that same heading, prices do create opportunities. And within the Cannabis cultivation sector, would you see any opportunities that might be materializing from this crisis?
Michael Sassano: [00:06:36] Well, people were looking for money before, and now that money has stopped stronger groups with better cash positions. They wanted to go into that state if they like that deal before. While you're going to love that deal now, if that deal's still on the table and in general, these deals are only, then it get better if you are an investor in the markets.
Michael Sassano: [00:06:58] We picked up a deal for two dispensaries that for at a higher price and now are at a lower price.
Dan Humiston: [00:07:07] I think a short break to let you listen to a quick preview of our next episode.
Michael Campbell: [00:07:13] So 10 stores, three years. Two hundred thousand square feet. We believe we can garner 10 percent of the market share for Southern California over the next five years. We estimate that at a 7 billion dollar market, CBD and THC. So if it all worked out and we were able to get that 10 percent, that's could equate to something in the neighborhood of 500, 700 million. We think we can run a 20 to 24 percent E Budoff business around that.
Dan Humiston: [00:07:43] Tune in on Thursday to hear the next episode of the bio track Cannabis Dispensary Spotlight series with Michael Campbell from showcased by Kail Ethos. And now let's get back to today's show.
Dan Humiston: [00:07:57] The name of the show is Raising Cannabis Capital, will you or you? Do you plan to be raising capital in the future to maybe take advantage of some of these opportunities?
Michael Sassano: [00:08:04] As of this morning, we sent out over one hundred and twenty eight different emails alerting people to where our stance is. And we've had multiple calls with investors and investor groups, people that we've been looking to expand with. And ultimately, instead of do an expansion right now we've pivoted to we're buying up a few projects right now. Just in the last week, we put out to allies on two different possibilities. So for sure, we've kind of pivoted to the bison scenario rather than like, why expand out right now when we'll use that capital to pick up a asset that's cash flow?
Dan Humiston: [00:08:44] Well, that's good news. And we'll have all of Michael's information in. So Celera's firm's information in the show notes and on the MJBulls dot com Web site.
Dan Humiston: [00:08:53] So if anybody wants to circle around here, investors that are listening or want to talk to him further about this. Just reach out to him directly. Michael, thanks for being on the show today.
Michael Sassano: [00:09:03] Yeah, big pleasure. And thanks for having me. I appreciate it.
Dan Humiston: [00:09:08] Today's show was made possible by the generous support of our sponsors, like all 36, the country's premiere blockchain payment processing platform that's providing dispensaries and its customers with a safe and secure payment option other than cash. To learn more. Go to all 36 dot com. Today's podcast was produced by MJBulls Media.
Dan Humiston: [00:09:28] The industry's premier Cannabis podcast network with original music produced in part by Jamie Humiston. I'm Dan Humiston and you've been listening to the Raising Cannabis Capital podcast.
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