After a crazy 2020, we are sure that everyone is glad to see the new year and welcome a fresh start. But as crazy as the last year was, our industry and HighBridge accomplished much. Some highlights from last year:
- Our industry grew with the addition of several States passing or adopting laws legalizing Recreational Cannabis (Add Arizona, Montana & South Dakota to the club!).
- Congress again saw an all-encompassing Cannabis Legalization Bill pass the House of Representatives by an overwhelming majority. Though experts give this bill little chance of getting through the Senate, it paves the way for discussion and fine tuning the desired legislation.
- Ours was one of the few industries that experienced growth during the pandemic. With some States seeing 50%+ growth (Nevada) and others, like Colorado, having record years with more than $2 Billion in cannabis revenues.
2021 bodes well for the Cannabis Industry! Growing revenues, more states participating, local, State & National legislation in the works, continue to improve mainstream acceptance of the Cannabis Community.
Some things we can all look forward to in the coming year:
- Banking should improve considerably. The SAFE Banking Act is again being routed through Congress. According to our friends at the Cannabis Trade Federation, the SAFE Act is likely to pass this Quarter. And “Marijuana Moment” Bill Tracker is already watching more than 255 cannabis, psychedelics and drug policy bills in state legislatures and Congress for 2021 sessions.
- California has proposed emergency Rules & Regulations to expedite Banking access for Cannabis Companies.
- Mexico, which legalized all forms of cannabis in 2019, is expected to have its implementation procedures (“code” for regulations and taxes) in place as early as Q2 of this year.
- Even the Big Apple might make some progress! And in a very unique way: Andrew Yang, seeking to replace current Mayor DeBlasio, included his support for marijuana legalization on his campaign site’s “Culture, Society and Nightlife” section rather than the Criminal Justice section.
HighBridge completed its’ first full year in amazing fashion! Not only did we survive the Corona Craziness, we thrived!
Although the pandemic delayed putting our products on the shelf, HighBridge took significant steps in fulfilling its Business Model.
Among its accomplishments:
HighBridge began its quest to become a Vertically Integrated company by executing contracts or Letters of Intent for:
- Development of its internal e-Commerce platform.
- Purchase of government licensed retail e-Commerce site in Mexico.
- Purchase of 2 cultivation facilities.
- Incorporation in Canada.
- Pushed its growth agenda to 5 states in 2021, including Nevada, Colorado, & Michigan.
Our goal at HighBridge is to become a vertically integrated, Multi-State Organization with an International footprint.
In furtherance of that goal, HighBridge has also expanded its Board of Directors to 5.
New members include former executives from CorMark & Gelco, a tenured professor at the University of California, and a former United States Senator.
We believe this makes HighBridge the first Recreational Cannabis Company with a former US Congressman on its Board. And the first of any Cannabis company to proudly include a former U.S. Senator. Look for formal introductions on our website soon.
We at HighBridge look forward to 2021 with renewed energy and optimism. Favorable state and federal legislation, growing markets – both domestic and international, and the ability to partner with others in our industry are the foundation of an extremely energetic year.
Look for our new web site coming soon. Please visit us on our Facebook, Twitter & Instagram platforms!
Until that time,
Your friends at HighBridge Premium Cannabis