CIM: How did the passing of the Farm Bill in 2018 impact your business?
SunIQ: What’s truly incredible about the Farm Bill passage is the tremendous shift in opportunity for investment and banking practices that this represents. It has brought a level of legitimacy to the hemp industry which was previously missing and that was keeping the industry from growing. Major retailers, CVS, Walgreens, Sephora, Neiman Marcus, have all jumped into the CBD space and this is going to cause a tremendous increase in demand as competing product developers jump into the ring. As a wholesale provider that truly understands all of the links in the supply chain necessary to deliver significant wholesale supply, this is great news for us.
While many companies went out and tried to raise capital based on their strong faith that the Farm Bill would pass, we decided to wait until after the bill passed to move forward with our raise. We’ve seen too many companies in the cannabis sector suffer due to being overly confident that legislation is going to pass. We don’t take those kinds of risks, we are committed to doing everything by the book and not betting on regulation.
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