Curaleaf Holdings (OTC:CURLF) – EXCLUSIVE: Curaleaf founder Boris Jordan says cannabis drinks will make up 50% of the industry

The future success of the cannabis industry is directly tied to decriminalization and regulation. This is one of the topics discussed during the Benzinga Cannabis Capital Conference 2022 in Chicago.

However, the federal landscape is changing and Curaleaf Holdings Inc CURVE founder Boris Jordan hopes that by the end of 2022 the marijuana industry will be officially recognized as a legitimate industry in the United States

“We’ve never been this close to getting real cannabis legislation, this could be something that breaks the glass ceiling for the industry,” Jordan said during the interview. Benzinga Conference on the Cannabis Capital Wednesday.

“I think we get [legislation],” he added.

Jordan explained that Curaleaf is getting into cannabis-infused beverages and testing its first cannabis seltzer, named “Endless Coast” in Massachusetts.

“Beverages are the big draw,” said the founder, “the problem with beverages is that you have to build a lot of infrastructure – so you can only build in states with high population density to justify the investment” .

According to US data from Headset, the market share of cannabis drinks has increased by more than 20% in the past two years.

Curaleaf occupies a unique position with Endless Coast in the high growth product category in one of the East Coast’s most mature adult markets.

“Personally, in five to 10 years, I think cannabis drinks will be 50% of the industry,” Jordan said.

When marijuana is postponed, Jordan said big tobacco companies like Philip Morris International Inc. PM and Altria Group Inc. MO will be known as cannabis companies.

“We heard from the senator chuck schumer say he’ll do anything to stop tobacco companies from using cannabis,” Jordan said, “but, I’m going to make a prediction, the minute marijuana gets carried over, tobacco companies will be known as cannabis companies.

Tobacco industry investment in cannabis is nothing new – Philip Morris invested $20 million in Israeli company Syqe Medical, which created a medical cannabis inhaler, in January 2016.

Through its venture capital arm, Imperial Marks PLC IMBBY invested in 2018 in Oxford Cannabinoid Technologies, a biotechnology company specializing in cannabis.

Altria, the company that owns the Marlboro cigarette brand, has invested $1.8 billion in Cronos, a global cannabis company headquartered in Canada.

In 2019, Imperial Brands made a $123 million purchase for a 19.9% ​​stake in Canadian company Auxly Cannabis.

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