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Cannabis Unlocked

Cannabis Unlocked

By KEY Investment Partners LLC

Unlocking cannabis investments. In this podcast series, cannabis-focused investment firm KEY Investment Partners aims to make sense of the evolving legal cannabis industry. We discuss current trends & events for investors looking to explore opportunities in the private and public cannabis markets.
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Dave Nuendorfer - CEO of Open Book Extracts

Cannabis UnlockedFeb 07, 2024

00:00
30:16
Dave Nuendorfer - CEO of Open Book Extracts

Dave Nuendorfer - CEO of Open Book Extracts

In this episode we welcome back Dave Nuendorfer, CEO of Open Book Extracts, a cannabinoid ingredients, formulations and finished goods manufacturing company and KEY portfolio company. Dave has spent the better part of the past decade in cannabis and recently celebrated 5-years at Open Book. We discuss the history of Open Book, the growth and trends of the cannabis industry and the rise of the hemp derived cannabinoid industry. Stay tuned for some exciting news and developments as Open Book takes cannabis into the future! Enjoy!

Feb 07, 202430:16
David Culver - Senior Vice President at the US Cannabis Council

David Culver - Senior Vice President at the US Cannabis Council

In this episode, we welcome back an old friend of KEY, David Culver, who recently headed up Canopy Growths Global Government Relations. David Culver is now at the US Cannabis Council (USCC) as Senior Vice President of Public Affairs. David is arguably one of the most plugged-in regulatory experts in Washington D.C. and in this episode we discuss what is the USCC, and then we move over to the regulatory topics: SAFE Banking and Re-Scheduling. Stay tuned as we have some exciting regulatory developments and predictions to share!

Feb 01, 202433:15
Scott Jordan - Founder of Alternative Finance Network

Scott Jordan - Founder of Alternative Finance Network

In this episode of Cannabis Unlocked, Scott Jordan (Founder of Alternative Finance Network) sits down with Jordan Youkilis (Founding Partner at KEY Investment Partners) to talk through cannabis reschedulings impact on access to capital, credit card processing and even back taxes. The conversation begins with Scott’s thoughts on cannabis rescheduling, 280E and the implication for 280E in the event of rescheduling. From there, Scott dives into the role his company, Alternative Finance Network provides the cannabis space and how it helps cannabis operators connect with lenders and money sources. The talk continues with Jordan and Scott's thoughts on how credit card processing and access to capital or debt would change if rescheduling was to occur. This episode concludes with Scotts perspectives on how retroactive 280E taxes will be managed once rescheduling happens. Please enjoy!

Jan 15, 202428:08
Guillermo Rodriguez CPA, FPAC - Virtual CFO with Summit Virtual CFO by Anders

Guillermo Rodriguez CPA, FPAC - Virtual CFO with Summit Virtual CFO by Anders

In this episode of Cannabis Unlocked, Guillermo Rodriguez CPA, FPAC (Virtual CFO with Summit Virtual CFO by Anders) sits down with Jordan Youkilis (Founding Partner at KEY Investment Partners) to discuss the hurdles of cannabis taxation as well as the present and future implications of 280E. The conversation begins with Guillermo’s background in corporate accounting and his journey into the cannabis space. From there, Guillermo talks through his process of learning the cannabis space, his networking efforts, and how he identified the need for better financial practices in the cannabis industry. The talk continues with Guillermo’s thoughts on the current 280E taxation issue currently faced by all cannabis operators and what could shift for operators with impending legislative changes. This episode concludes with thoughts on what operators should do regarding outstanding 280E taxes prior to any major legislative shifts. Please enjoy!

Nov 09, 202324:03
Katie Neer Esq. - Of Counsel at Dickinson & Avella

Katie Neer Esq. - Of Counsel at Dickinson & Avella

In this episode of Cannabis Unlocked, Katie Neer Esq. (Of Counsel at Dickinson & Avella) sits down with Jordan Youkilis (Founding Partner at KEY Investment Partners) to discuss the New York cannabis market and the opportunity it holds for those willing to navigate its complex regulatory structure. The conversation begins with Katie’s  journey into the cannabis industry through government relations efforts for Acreage Holdings and later as counsel for a cannabis delivery service, Lantern. From there, Katie and Jordan dive into the nuanced complexities of transitioning an existing industry into a regulated industry. From 280E taxation to banking limitations and access to capital, Katie speaks to the seemingly never ending hurdles the industry regularly overcomes. The talk continues with an in depth review of New York’s efforts to legalize and roll out adult use cannabis. This episode concludes with Katie explaining the current state of New York's cannabis licenses and next steps residents can expect for dispensaries opening. Please enjoy!

Oct 12, 202352:37
Mara Sheldon - Principle at Squire Patton Boggs

Mara Sheldon - Principle at Squire Patton Boggs

In this episode of Cannabis Unlocked, Mara Sheldon (Principal at Squire Patton Boggs) sits down with Tiby Erdely (Founding Partner at KEY Investment Partners) to discuss the recent U.S. Department of Health and Human Services (HHS) recommendation to the Department of Justice to reschedule cannabis from a Schedule 1 drug to Schedule 3. The conversation begins with Mara’s thoughts on HHS’ recommendation and what rescheduling could mean for the cannabis industry. 

From there, the conversation shifts to the positive and negative implications of a schedule 3 reclassification and the political pressure this recommendation creates. Please enjoy!


Sep 07, 202313:05
Jeff Samuels - President of Frontier Risk Group

Jeff Samuels - President of Frontier Risk Group

In this episode of Cannabis Unlocked, Jeff Samuels (President of Frontier Risk Group) sits down with Jordan Youkilis (Founding Partner at KEY Investment Partners) to discuss the intricacies of cannabis insurance and its importance in such a rapidly expanding industry. This conversation begins with an overview of Jeff's background in insurance and how this led up to his involvement in the cannabis space. From there, Jeff talks Jordan through the role and value insurance plays in the highly regulated and highly volatile cannabis industry. The talk continues with an overview of the main factors considered when insuring cannabis businesses and how that affects the premiums these businesses pay. This episode concludes with Jeff’s thoughts on the impact cannabis has on creativity and its importance to culture. Please enjoy!


Jul 11, 202330:40
Jan Hardorp - Founding Partner at re.Mind Capital

Jan Hardorp - Founding Partner at re.Mind Capital

In this episode of Cannabis Unlocked, Jan Hardorp (Founding Partner at re.Mind Capital) sits down with Jordan Youkilis (Founding Partner at KEY Investment Partners) to discuss the mental health crisis, the rise of psychedelic assisted therapies and the opportunities within this new wave of medicine. The conversation begins with a look into Jan’s background, the founding of his fund re.Mind Capital, and an overview of re.Mind’s focus on solving mental and neurological health issues. From there, Jan and Jordan dive into the realities of the growing mental health crisis and how society can overcome this rise. The talk continues with the impact psychedelics can have on mental health, the importance of creating a measuring system to monitor mental health, and what the psychedelic regulatory landscape looks like globally. This episode concludes with Jan’s recommendation for those that are interested in learning more about administering psychedelic therapies. 

Please enjoy!


May 08, 202328:25
Judson Hill - Partner at Cannapreneur Partners

Judson Hill - Partner at Cannapreneur Partners

In this episode of Cannabis Unlocked, Judson Hill (Partner at Cannapreneur) sits down with Jordan Youkilis (Founding Partner at KEY Investment Partners) to discuss the hurdles of financing in cannabis and the ever continuing potential of the east coast and southern cannabis markets. This conversation begins with Judsons journey towards the cannabis industry and his early roles in the cannabis space. From there, Judson and Jordan speak to financing hurdles in the cannabis industry and how this lack of capital has impacted industry growth. The talk continues with an overview of the current consumer buying trends and the common disconnect between brands and consumers. This episode concludes Judson’s perspectives on the southeast and east coast cannabis markets. Please enjoy!

May 02, 202356:06
Jeremy Johnson - Business Development Manager at Dispense

Jeremy Johnson - Business Development Manager at Dispense

In this episode of Cannabis Unlocked, Jeremy Johnson (Business Development Manager at Dispense) sits down with Tiby Erdely (Founding Partner at KEY Investment Partners) to discuss the headaches around cannabis menus, transactions and online ordering, from there the conversation dives into the long standing criminal justice issues around cannabis. This conversation begins with Jeremy’s journey through the cannabis industry from legacy markets to the first recreational dispensaries in Michigan all of which lead him to his current role at Dispense, an ecommerce system for dispensaries. From there, Jeremy walks through Dispenses’ offering and explains the hurdles cannabis businesses face when displaying their products online and transacting with customers. The talk continues with Jeremy's perspectives on the criminal justice system and the prison industrial complex, during this he breaks down the financial and societal cost we pays for these systems' continued operations. This episode concludes by talking through the realities of cannabis legalization and how the fight for cannabis reform is far from over. Please enjoy!


Apr 03, 202336:32
Mara Sheldon - Principal at Squire Patton Boggs

Mara Sheldon - Principal at Squire Patton Boggs

In this episode of Cannabis Unlocked, Mara Sheldon (Principal at Squire Patton Boggs) sits down with Pete Karabas (Founding Partner at KEY Investment Partners) to discuss the current and past hurdles of cannabis reform, the impact different types of reform have on the cannabis industry, and what the future could hold as another presidential election cycle kicks into gear. The conversation begins with Mara’s thoughts on the complicated journey the SAFE Banking bill has taken and what 2023 could bring for cannabis reform. From there, Mara speaks to the potential outcomes associated with rescheduling or de-scheduling cannabis, the odds of this happening in the near future and what this shift means for 280E. This episode concludes with Mara’s perspectives on the timeline for cannabis reform and what could be expected going into the next presidential election. Please enjoy!

Mar 15, 202321:56
Rena Sherbill - Director of Audio Content at Seeking Alpha and Host of The Cannabis Investing Podcast

Rena Sherbill - Director of Audio Content at Seeking Alpha and Host of The Cannabis Investing Podcast

In this episode of Cannabis Unlocked, Rena Sherbill (Director of Audio Content at Seeking Alpha and Host of The Cannabis Investing Podcast) sits down with Tiby Erdely (Founding Partner at KEY Investment Partners) to discuss the evolution of US cannabis, the mix of political support behind cannabis reform, and the impact Israel has had on the understanding of medical cannabis. The conversation begins with Rena’s experience at Seeking Alpha, her journey towards covering cannabis finance, and how her views on the cannabis industry have changed as the industry has matured. From there, Rena speaks to the current state of the US cannabis market and how public cannabis companies are fairing during the current economic hurdles. The talk continues with predictions on the future of the US cannabis industry in relation to the ebbing political climate. This episode concludes with a conversation around Israel's extensive research efforts and how that’s positioned Israel at the forefront of discovery specifically when it comes to understanding the medicinal value of cannabis.

Mar 10, 202338:12
Matt Balaker - Director at Aureata Capital and Host of The Matt Balaker Podcast

Matt Balaker - Director at Aureata Capital and Host of The Matt Balaker Podcast

In this episode of Cannabis Unlocked, Matt Balaker (Director at Aureata Capital and Host of The Matt Balaker Podcast) sits down with Jordan Youkilis (Founding Partner at KEY Investment Partners) to discuss the early days of cannabis investing and the need for personal connection. This conversation begins with Matt’s journey into cannabis in 2012 and what the earliest days of cannabis culture and investing looked like right as adult use legislation was being passed. From there, Jordan and Matt speak to the historical injustices around cannabis and discuss how success in cannabis is not solely based on increased revenue but also increased opportunities for those that have been disproportionately affected by cannabis’ history. The talk continues by diving into the creation of Matt’s podcast, The Matt Balaker Podcast, which covers a range of investing topics including cannabis. This episode concludes with a conversation around Matt’s passion for stand up comedy and everyone's need for personal connection and interaction. Please enjoy!

Feb 13, 202334:13
Eric Berlin - Partner at Dentons

Eric Berlin - Partner at Dentons

In this episode of Cannabis Unlocked, Eric Berlin (Partner at Dentons) sits down with Jordan Youkilis (Founding Partner at KEY Investment Partners) to discuss the journey of cannabis legalization and the hurdles experienced as traditional business efforts are exerted on the rapidly evolving cannabis market.

This conversation begins with Eric's background in law, his successful efforts to legalize medical cannabis in Illinois and his path towards leading Denton’s Cannabis Law practice. From there, Eric speaks to some of the complications cannabis businesses and investors face when attempting M&A deals or public offerings. The talk continues by walking through the range of opportunities in the cannabis and hemp markets and how these opportunities only represent a portion of the total market, the rest of which is made up of illicit product sales. This episode concludes with an overview of Canopy Growth's recent efforts to consolidate their holdings in US plant touching operations and the  impact this has on the rest of the US cannabis market. Please enjoy!

Feb 10, 202301:02:03
Ashley Wynn-Grimes – Author & Founder of Cannabis Nursing Solutions

Ashley Wynn-Grimes – Author & Founder of Cannabis Nursing Solutions

Ashley Wynn-Grimes is an Author, Cannabis Advocate, and Founder of Cannabis Nursing Solutions. In this conversation, we discuss Ashley’s journey as a nurse including how her disillusionment with the financial incentives behind Big Pharma led her to explore alternative healing modalities and the structure of the endocannabinoid system. We next talk about Ashley’s journey as an author and writing the book Stigmatized. Then, we discuss ways for healthcare professions to research cannabis and how to obtain certifications to consult with patients on the medicine. We then consider how to optimize product offerings for patients, rather than just maximizing THC content. From there we discuss Maryland’s recent legalization of adult-use cannabis, how Ashley expects her home market to develop in the coming years, and the somewhat arbitrary distinction between recreational and medical cannabis. Next, we discuss the recently approved Federal legislation on medical marijuana research and what outcomes Ashley expects to see following its passage. We end talking about Ashley’s children’s book Asa’s Medicine. Please enjoy!

Check out the resources mentioned:

- Stigmatized: A Hero’s Journey by Ashley Wynn-Grimes: https://www.amazon.com/Stigmatized-Heros-Journey-Ashley-Wynn-Grimes/dp/1637903472

- Asa’s Medicine by Ashley Wynn-Grimes: https://www.amazon.com/Asas-Medicine-Hardback-Ashley-Wynn-Grimes/dp/0578790661?ref_=ast_sto_dp

- Cannabis Nursing Solutions: https://cannanursingsolutions.mykajabi.com/

Dec 27, 202231:10
Eric Hammond - CEO & Co-Founder of Highsman

Eric Hammond - CEO & Co-Founder of Highsman

In this episode of Cannabis Unlocked, Eric Hammond (CEO & Co-Founder of Highsman) sits down with Jordan Youkilis (KEY Investment Partners Founding Partner) to talk about the creation of Ricky Williams, Highsman brand, their growth strategy and how Highsman plans to become a household name. This conversation starts with an overview of Eric’s journey into the cannabis industry, the creation story behind his brand, Highsman, and how Eric met his Co-Founder, Former NFL Running Back, Ricky Williams. The talk continues a deep dive into Ricky Williams’ personal journey with cannabis and how his personal connection led to the creation of Highsman, a multi-state cannabis licensing and apparel business. The conversation continues by talking through the strategic growth plan of Highsman, and how they’ve successfully navigated the tough market conditions of the cannabis industry. The talk closes with a brief overview of Highsmans strategy to attract other high caliber, influential athletes.

Please enjoy!

Dec 14, 202226:13
Peggy Van De Plassche - Author, Speaker, & Psychedelics Advocate

Peggy Van De Plassche - Author, Speaker, & Psychedelics Advocate

In this episode of Cannabis Unlocked, Peggy Van De Plassche (Author, Speaker, & Psychedelics advocate) sits down with Jordan Youkilis (KEY Investment Partners Founding Partner) to discuss psychedelic medicine, it’s value in improving mental health, and the importance for continued exploration regarding the value this new wave of medicine provides patients. This conversation starts with an overview of Peggy's journey from the financial services industry to becoming a mental health and psychedelic advocate who leverages writing and public speaking to educate others. From there, Peggy and Jordan speak to Peggy’s exposure to Psilocybin and how those experiences shaped her personal outlook, improved her day to day and led to her own re-evaluation of “medicine”. The talk continues with perspectives on the future of psychedelic medicine when it comes to government approval and large scale patient access. The conversation wraps up with profound experiences Peggy’s pulled from her journey with psychedelics and how having a clear intention during these trips increased her ability to process past traumas.

Please enjoy!

Dec 06, 202230:27
Jasper Gallo and Jeremy Nelson - PharmaCann

Jasper Gallo and Jeremy Nelson - PharmaCann

In this episode of Cannabis Unlocked, Jasper Gallo (Director of Corporate Development at PharmaCann) and Jeremy Nelson (Associate Director of Corporate Development at PharmaCann) sit down with Jordan Youkilis (KEY Investment Partners Founding Partner) to discuss current and future state of cannabis M&A, and PharmaCann's growth strategy through organic license wins along with acquisitions. This conversation starts with Jasper and Jeremys individual journeys towards cannabis, their path into PharmaCann along with a high level overview of PharmaCann. From there, Jasper, Jeremy and Jordan cover some of the advantages scale provides cannabis businesses and speak to how PharmaCann has grown, through a mix of organic license wins through application processes as well as through M&A. The talk continues with Jasper and Jeremy's perspectives on the current state of cannabis M&A in regards to the falling valuations of cannabis business' and what impact the overall economy has on cannabis M&A transactions. The conversation wraps up with Jasper and Jeremys thoughts on markets with an uncapped amount of licenses, the value of building a market presence in limited license states and unlimited license states, and how potential federal changes impact the M&A and investment side of cannabis. Please enjoy!

Nov 02, 202230:57
Mara Sheldon - Senior Policy Advisor at Squire Patton Boggs

Mara Sheldon - Senior Policy Advisor at Squire Patton Boggs

In this episode of Cannabis Unlocked, Mara Sheldon (Senior Policy Advisor at Squire Patton Boggs) sits down with Tiby Erdely (Founding Partner at KEY Investment Partners) to discuss political hurdles and opportunities facing the cannabis space in light of recent political wins. This conversation begins with Mara's background and her perspectives on the current state of cannabis policy following Biden's recent announcements including the potential rescheduling of cannabis and the pardoning of thousands of low level federal cannabis convictions. From there, Mara speaks to the various levels of federal drug scheduling, and how 280E, a tax law that only applies to federally illicit businesses like cannabis, could change after the rescheduling of cannabis. The talk continues as the pair discuss opportunities that the Safe Banking and CLIMB acts open up for the cannabis industry, and how this could fuel rapid growth for the industry by dropping the cost of capital. This episode concludes with Mara's predictions on the future of cannabis and steps ahead that could lead to eventual federal legalization.  Please enjoy!

Oct 27, 202224:35
Russell Stanley - Managing Director of Equity Research at Beacon Securities Limited

Russell Stanley - Managing Director of Equity Research at Beacon Securities Limited

In this episode of Cannabis Unlocked, Russell Stanley (Managing Director of Equity Research at Beacon Securities Limited) and Tiby Erdely (KEY Founding Partner) discuss the evolution of cannabis from early Canadian LP's to today's US based MSO's, the future of cannabis legalization in the US, and the impact of Biden's recent cannabis announcements on the state of the industry. This conversation starts with Russells experience in equity research and he's shift in focus towards cannabis in 2016. From there, Russell and Tiby speak to the continued maturing US based MSO's have shown and their evolution towards being a more "traditional business" that can be judge by margins rather than less tangible growth factors. The talk continues by diving into the funding differences Canadian LP's and US Based MSO's have faced and how the "bootstrapped" nature of US operations has forced leaner business growth. Conversation shifts from here towards Biden's recent announcement around pardoning minor cannabis offences, the potential for cannabis rescheduling and the impact of this shift on Safe Banking. The conversation wraps up with perspectives on the path towards federal legalization and advice from Russell on how to navigate the ever changing future or cannabis. Please enjoy!

Oct 12, 202227:07
David Culver - VP of Global Government Affairs at Canopy Growth
Oct 07, 202224:53
Brandon Johnson - CEO of TRP

Brandon Johnson - CEO of TRP

In this episode of Cannabis Unlocked, Brandon Johnson (CEO of TRP) sits down with Jordan Youkilis (KEY Investment Partners Founding Partner) to discuss how TRP has evolved into a retail powerhouse through working with legacy brands and championing social equity efforts. This conversation starts with Brandons path towards cannabis and how he got the inspiration for TRP's business model of partnering with legacy brands and leveraging retail locations to scale those brands. From there, Brandon and Jordan speak to the hurdles behind social equity applications and how TRP has effectively navigated the licensing process to enable social equity brands success. The talk continues with Brandons perspectives on future retail trends across the evolving US Marketing. The conversation wraps up with thoughts around the value of retail dispensaries and cannabis delivery as our nation pushes towards more open markets and eventual legalization.

For more information around TRP please reach out to: bj@trp.co

Please enjoy!

Oct 03, 202201:00:58
Jason Brett - CEO and Co-Founder of Katalys

Jason Brett - CEO and Co-Founder of Katalys

In this episode of Cannabis Unlocked, Jason Brett (CEO and Co-Founder of Katalys) sits down with Tiby Erdely (KEY Investment Partners Founding Partner) to discuss the ever evolving importance of accurate and effective marketing tools and how Katalys' affiliate attribution tool is prepared for the future of marketing. This conversation begins with Jason's passion of marketing and that passion evolving into a passion for marketing technology. From there, Jason speaks to the founding story of RevOffers (now Katalys) and its journey from being a CBD affiliate network into an industry agnostic affiliate shopping tool. The talk continues by discussing the unique accuracy of Katalys affiliate attribution tool, it's increasing importance when it comes to "the cookie apocalypse", and the difference between first party and third party data collectors. This episode concludes by highlighting the importance of marketing tools providing a seamless consumer experience and how ease of use is vital to converting customers. Please enjoy!

Aug 17, 202229:52
Chris Yetter - Founder and Portfolio Manager of Dumont Global

Chris Yetter - Founder and Portfolio Manager of Dumont Global

In this episode of Cannabis Unlocked, Chris Yetter (Founder and Portfolio Manager of Dumont Global) sits down with Jordan Youkilis (KEY Investment Partners Founding Partner) to discuss what to look for in sound cannabis investments, the hurdles of investing in US cannabis businesses and things to look for when shorting selling. This conversation starts with Chris' path from short selling fraudulent or illegal businesses in Latin and South America to his journey towards investing in legal cannabis businesses. From there, Chris and Jordan speak to the investment flexibility Dumont Global has as a hedge fund along with the headaches that come along with establishing a fund and investing in cannabis. The talk continues with Chris' perspectives on the future of US based cannabis-touching businesses in relation to their access to capital and legislative change. This episode concludes with Chris' breakdown of the US market not being one single market rather than many markets that need to be navigated independently. Please enjoy!

Aug 10, 202223:44
Owen Bennett - SVP of Equity Research for Global Tobacco & Cannabis at Jefferies

Owen Bennett - SVP of Equity Research for Global Tobacco & Cannabis at Jefferies

In this episode of Cannabis Unlocked, Owen Bennett (SVP of Equity Research for Global Tobacco & Cannabis at Jefferies) sits down with Jordan Youkilis (KEY Founding Partner) to discuss the intricacies of international cannabis markets, the range in their success, and the variance in addressable markets. This conversation starts with Owens career path towards Jefferies and follows Jefferies' desire to understand the emerging cannabis market. From there, Owen and Jordan discuss the difference between Canadian LP's, US based MSO's and ancillary businesses in relation to their addressable market sizes, differences in federal acceptance and access to institutional investment. The talk continues with a pointed discussion about the current state of cannabis stocks and the shifted focus to building lasting brands that capture consumer attention. This episode wraps up with a conversation around cannabis during the broader economic shift seen over the past several months that's expected to continue through 2022. Please enjoy!

Aug 03, 202227:09
Zack Ein - Founder and CEO of Grassdoor

Zack Ein - Founder and CEO of Grassdoor

In this episode of Cannabis Unlocked, Zack Ein (Founder and CEO of Grassdoor) and Tiby Erdely (Founding Partner of KEY Investment Partners) discuss Grassdoor's transition out of a software development agency which built complicated mobile apps into the most reliable cannabis delivery platform in the California market. This conversation begins with an overview of the early days of Grassdoor starting in 2017 as just a concept, to then serving a single dispensaries delivery software needs in 2018 and finally becoming a licensed retailer in late 2019 who's able to serve their own customers directly out of multiple distribution hubs. From here, Zack and Tiby discuss Grassdoor's focus on improving the "last mile" problem created by delivery regulations in California and how this forced a deeper understand of the problems existing POS platforms have with the California delivery. 

The talk continues with Zack explaining the different offerings Grassdoor has, from their direct to consumer marketplace to their business friendly, white label solution which allows brands to white label Grassdoor's software platform, giving customers the impression their favorite brand is interacting with them directly. In addition, Zack explains their in-depth data platform which will allow it's brand partner deeper insights into consumer demographics, buying trends and more. The conversation wraps up with the future of Grassdoor and recommendations to other entrepreneurs looking to get into the space. Please enjoy!

Jul 25, 202220:37
Dave Neundorfer - CEO of Open Book Extracts

Dave Neundorfer - CEO of Open Book Extracts

In this episode of Cannabis Unlocked, Dave Neundorfer (CEO of Open Book Extracts) and Tiby Erdely (KEY Founding Partner) discuss Open Book Extracts (OBX) journey and focus on creating consistency and repeatability in cannabinoid products. This conversation starts with Dave's journey from the automotive industry to the software industry and finally into the cannabis industry. From there, Dave and Tiby discuss Open Book Extracts focus on non-THC Cannabinoids, why this is the next phase of cannabis evolution and how OBX leverages this focus to create unique products for the clients. The talk continues by diving into Open Book Extracts white label model and how its becoming the back bone for brands in the hemp and cannabis space. The conversation wraps up with advice from Dave to entrepreneurs looking to join the cannabis industry. Please enjoy!

Jul 08, 202221:00
Josh Rubin - CEO of Day Three Labs

Josh Rubin - CEO of Day Three Labs

In this episode of Cannabis Unlocked, Josh Rubin (CEO of Day Three Labs) and Tiby Erdely (KEY Founding Partner) discuss the needed evolution of cannabis products to increase consumer and patient outcomes. This conversation starts with an overview of Josh's journey into cannabis, the story behind Day Three Labs and their groundbreaking technology Unlokt. From there, Josh and Tiby speak to the importance of consistent dosing and effect of cannabis in relation to consumer experience and patient efficacy. The talk continues by diving into the science behind Day Three Labs' Unlokt technology and how it improves cannabis ingestibles by breaking down and stabilizing cannabinoids and terpenes in these products. The conversation wraps up with the research efforts Day Three Labs is conducting through their pharmaceutical lab in Israel. Please enjoy!

Jun 22, 202229:18
Natalie Papillion - Director of Strategic Initiatives at Last Prisoner Project

Natalie Papillion - Director of Strategic Initiatives at Last Prisoner Project

In this episode of Cannabis Unlocked, Natalie Papillion, Director of Strategic Initiatives at Last Prisoner Project and Jordan Youkilis (KEY Founding Partner) discuss Natalie's journey leading up to Last Prisoner Project followed by the impact Last Prisoner Project has on criminal justice reform. From here the conversation turns to the historical and current regulatory environments of cannabis policing, legality and its impact on various communities. Our conversation wraps up by highlighting the need for historical education regarding cannabis policies. With broader education on the topic, we can all learn how to create a more equitable cannabis industry moving forward. Please enjoy!

For more information on Last Prisoner Project please head to: www.lastprisonerproject.org

Jun 09, 202237:48
Erich Maelzer and David Miller - Flow Gardens

Erich Maelzer and David Miller - Flow Gardens

In this episode of Cannabis Unlocked, Erich Maelzer and David Miller from Flow Gardens sit down with Jordan Youkilis (KEY Founding Partner) to discuss the beginnings of Flow Gardens, their hunt for ever varying hemp genetics and the hurdles they face as a hemp company in America. This conversation starts with Erich and David's journey into the hemp space followed by a discussion around Flow Gardens' focus on genetic testing to confirm seed viability and cannabinoid profiles. From there, Erich, David, and Jordan speak to the value of hemp grown with unique terpene and cannabinoid combinations in relation to the recent price compression. The talk continues with comments around the current state of cannabis in Flow Gardens' home state of Tennessee and how efforts on the federal level may be the driving force for state change. This episode wraps up with insights into current consumer trends. Please enjoy!

May 09, 202220:04
Alvaro Torres - Co-Founder, CEO & Director of Khiron Life Sciences Corp.

Alvaro Torres - Co-Founder, CEO & Director of Khiron Life Sciences Corp.

In this episode of Cannabis Unlocked, Alvaro Torres (Co-Founder, CEO & Director of Khiron Life Sciences Corp.) and Jordan Youkilis (KEY Founding Partner) discuss the growth of Colombian cannabis and it's competitive advantages on other international medical cannabis producers. Today's conversation starts with Alvaro's company, Khiron's, creation story and journey to its current international market dominance. From there, Alvaro and Jordan speak to the current financial edge cannabis operators in Colombia have when it comes to competing internationally. The conversation wraps up with the importance of educating medical practitioners about the medicinal values of cannabis and how doctors are the key to patient access and growth of the medical cannabis industry. Please enjoy!

Apr 14, 202230:18
Chris Walsh - CEO of MJ Biz Daily

Chris Walsh - CEO of MJ Biz Daily

In this episode of Cannabis Unlocked, Chris Walsh (CEO of MJ Biz Daily) and Jordan Youkilis (KEY Founding Partner) discuss the past and future of the legal cannabis industry. This conversation starts with a dive into the creation story behind Marijuana Business Daily and the journey towards their recent acquisition by Emerald X. From there, Chris and Jordan speak to the evolving sophistication of cannabis operators, leading to conversations around some of the largest mergers and acquisitions of the largest cannabis businesses in the world. The conversation wraps up with perspectives around the political future of the ever changing cannabis industry. Please enjoy!


Apr 12, 202241:20
Julia Germaine - KreditForce Operating Partner

Julia Germaine - KreditForce Operating Partner

In this episode of Cannabis Unlocked, Julia Germaine (Operating Partner at KreditForce) and KEY Founding Partner Jordan Youkilis discuss cannabis delivery and the legal, cashless payment platform developed by Julia and the team at KreditForce.  The two discuss evolving consumer purchasing trends as more states permit delivery of cannabis. From there, we discuss payment processing restrictions and how the team was able to develop a compliant solution that runs on its own rails. Next, we discuss the Massachusetts market and what attractive the team to that market for the proof of concept. Please enjoy!

Feb 24, 202218:29
Courtney Davis - Executive Director at Marijuana Matters

Courtney Davis - Executive Director at Marijuana Matters

In this episode of Cannabis Unlocked, Courtney Davis (Executive Director of Marijuana Matters) and KEY Founding Partner Jordan Youkilis discuss social equity legislation in the cannabis industry.  The two discuss Courtney's career background and how she got involved in cannabis social equity. From there, we discuss the history of the War on Drugs (which Courtney explains was truly a War on People) and the collateral consequences of that failed policy - particularly for communities of color. From there, we discuss the various legislative reforms passed at state and local levels, and why these social equity reforms have unfortunately lagged behind laws focused on developing the business of cannabis. We then discuss the specific initiatives Courtney and the Marijuana Matters team are employing to rectify these injustices, and how individuals and/or businesses can support these initiatives. Please enjoy!

Feb 07, 202222:44
Cathy Corby Iannuzzelli - Co-Founder, President & Chief Payments Officer of KindTap

Cathy Corby Iannuzzelli - Co-Founder, President & Chief Payments Officer of KindTap

In the latest episode of Cannabis Unlocked, join Cathy Iannuzzelli as she discusses the payments industry in cannabis. In the episode, Cathy and Jordan discuss Cathy's career path and how the massive opportunity in cannabis convinced her to leave consulting. Cathy discusses the issues facing payment processing in cannabis today, and why the dispensaries running cashless ATM models currently may need to find other solutions in the near-term. From there, we discuss how KindTap allows consumers to easily and legally use credit to make purchases in-store and for delivery with the click of the button. Finally, we dive into the SAFE Banking Act and how its potential passage could impact the payment processing landscape.

Jan 13, 202220:47
Jeff Harris - Founder & CEO of Springbig

Jeff Harris - Founder & CEO of Springbig

In this episode of Cannabis Unlocked, Jeff Harris and KEY Founding Partner Jordan Youkilis discuss marketing software & services in the cannabis industry.  The two discuss the challenges faced by retailers and brands in marketing to end customers today. From there, we discuss the recently announced SPAC acquisition of Springbig by TCAC. Jeff and Jordan then discuss Springbig's 2022 growth initiatives and expectations for the evolving competitive landscape amongst canna-tech players. Please enjoy!

Jan 06, 202233:41
Ben Ross on the Past, Present & Future of Psychedelics

Ben Ross on the Past, Present & Future of Psychedelics

In this special episode of Cannabis Unlocked, Ben Ross and KEY Founding Partner Jordan Youkilis discuss the past, present & future of psychedelics. Ben shares his story - from successfully exiting his software startup to focusing on plant medicine. They further discuss the different types of psychedelic substances and where each stands within the regulatory approval process. They further discuss the distinctions between drug vs. medicine and illegal vs. legal substances. They later discuss the recent history of psychedelics since the 1960s, as well as the more ancient, ceremonial traditions of plant medicine across the world. Finally, they discuss how we can ensure these medicines are treated respectfully as big pharma looks to enter the legal industry. Please enjoy!

Dec 14, 202151:33
Andrew Lobo (CEO of Kin Slips) on Cannabis Sublingual Strips

Andrew Lobo (CEO of Kin Slips) on Cannabis Sublingual Strips

In the latest episode of Cannabis Unlocked, we interview Andrew Lobo, CEO of Kin Slips. In this conversation, we discuss the Andrew's career background and how he decided to move from institutional finance into cannabis operations. We further dive into the evolving landscape for cannabis brands, and why the Kin Slips team saw an opportunity in sublingual strips. Please enjoy!

Dec 13, 202129:31
CNBC's Tim Seymour - Capital Markets and Cannabis

CNBC's Tim Seymour - Capital Markets and Cannabis

In the latest episode of Cannabis Unlocked, we interview Tim Seymour of CNBC's Fast Money. Tim is also founder and Chief Investment Officer of Seymour Asset Management (SAM). SAM provides both asset management and wealth management services for its clients. Tim is also the Portfolio Manager of the Amplify Seymour Cannabis ETF ticker: $CNBS. In this episode, we discuss the capital markets landscape and some of the recent legislative developments, including SAFE Banking, the MORE Act and Nancy Mace's republican approach to legalization. We further dive into sectors of focus for Tim's investment strategy. From there, we discuss the cannabis markets and expectations for the evolving competitive landscape amongst MSOs and Canadian LPs. Please enjoy!

Dec 08, 202131:33
Ross Bevevino (Founder of Mollitiam Capital) on Private Equity Investing in Cannabis

Ross Bevevino (Founder of Mollitiam Capital) on Private Equity Investing in Cannabis

In the latest episode of Cannabis Unlocked, we interview Ross Bevevino - the Co-Founder of Mollitiam Capital. In this conversation, we discuss the capital markets landscape and how FDIC coverage and SAFE Banking will impact access to capital in the future. We further dive into sectors of focus for Mollitiam's investment strategy. From there, we discuss the cannabis SPAC markets and expectations for the evolving competitive landscape amongst MSOs. Please enjoy!

Dec 06, 202144:12
Kelly Nielsen (BDSA) - Global Markets Forecast Update

Kelly Nielsen (BDSA) - Global Markets Forecast Update

Kelly Nielsen, Vice President of Insights & Analytics at leading cannabinoid market intelligence firm BDSA joins Pete Karabas of KEY Investment Partners to discuss BDSA's recent update of their global cannabis market forecast, a five-year rolling global forecast by country, state, province, channel, and category. Cannabis sales for 2021 were near $31 billion, an increase of 41% over 2020 sales. Furthermore, BDSA forecasts global cannabis sales to grow from $30.6 billion in 2021 to $62.1 billion in 2026, a compound annual growth rate (CAGR) of more than 15%.

Nov 29, 202124:17
David Kivitz (CEX of XS Financial) on Cannabis Equipment Finance

David Kivitz (CEX of XS Financial) on Cannabis Equipment Finance

In the latest episode of Cannabis Unlocked, we interview David Kivitz - the Chief Executive Officer of XS Financial. This conversation comes a few weeks after KEY Investment Partners and other investors participated in a $43.5mn financing round for the business.

In this conversation, we discuss the financing gap for equipment in cannabis. We further dive into the recent financing round and how the XS will leverage this capital to fuel additional growth. From there, we discuss the evolving regulatory landscape in cannabis and David's expectations for the development of the MSO competitive landscape. Please enjoy!

Nov 22, 202137:25
Joe Hodas (CMO of Wana Brands) on Cannabis Edibles Brands

Joe Hodas (CMO of Wana Brands) on Cannabis Edibles Brands

In the latest episode of Cannabis Unlocked, we interview Joe Hodas - the Chief Marketing Officer of Wana Brands. This conversation comes a few weeks after the landmark announcement in which Canopy Growth purchased the option to buy Wana Brands following US federal legalization. 

In this conversation, we discuss brand loyalty in cannabis as it relates to form factors like edibles, flower and vapes. We further dive into the Canopy Growth acquisition and how the transaction will benefit both parties. From there, we discuss Wana's future growth plans and Joe's expectations for the evolving competitive landscape in cannabis edibles. Please enjoy!

Nov 01, 202141:02
Scott Jordan - Alternative Lending in Cannabis

Scott Jordan - Alternative Lending in Cannabis

In the latest episode of Cannabis Unlocked, we interview Scott Jordan - the Founder of Alternative Finance Network. In this conversation, we discuss the evolution of direct lending to cannabis borrowers over the past eight years. We further dive into the capital markets evolution for direct lenders and how the cost of capital for borrowers has evolved over time. From there, we discuss the target borrowers for Alt Finance Network's loans, and what type of interest rates they should expect to pay in the market today. Please enjoy!

Sep 15, 202134:03
Cannabis & Hemp Industry Law with Bob Hoban and Brent Johnson

Cannabis & Hemp Industry Law with Bob Hoban and Brent Johnson

In the latest episode of Cannabis Unlocked, we interviewed attorneys Bob Hoban and Brent Johnson of Clark Hill (recently acquired their firm Hoban Law Group). In this conversation, we discuss the evolution of the regulatory landscape in cannabis over the past 13 years. We further dive into the transaction process by which Hoban Law Group was acquired by Clark Hill, and what this means for future M&A in the cannabis space. From there, we discuss the outlook for cannabis legalization at both the state and federal level. Please enjoy!

Sep 10, 202142:28
The Path to Legalization with David Culver of Canopy Growth

The Path to Legalization with David Culver of Canopy Growth

In the latest episode of Cannabis Unlocked, we interviewed the Head of Government Relations at Canopy Growth Corporation, David Culver. David has decades of experience working on Capital Hill, and has been working in the cannabis industry on behalf of Canopy for just about 3 years now. Prior to the cannabis industry, David worked for Distilled Spirits Counsel in government relations. In this episode we explore the history of cannabis legalization, the Cannabis Administration Opportunity Act and how David interprets the bill and his views on federal legalization in the US. 

Aug 16, 202128:27
Cannabis Venture & Debt Capital - Investor Panel

Cannabis Venture & Debt Capital - Investor Panel

In the latest episode of Cannabis Unlocked, we've assembled an all-star panel of cannabis venture capital and debt capital investors. The panel includes venture capital panelists Serge Sherman (Managing Director at Tuatara Capital) and Ross Desmarais (Principal at Intrinsic Capital Partners). Additionally, we are joined by credit fund investors Heather La Freniere (Founder at LAGO Innovation Fund) and Jonathon Goldrath (Partner at FocusGrowth Asset Management).  


Along with host Jordan Youkilis (Founding Partner at KEY Investment Partners), the five discuss the importance of backing strong management teams and lessons learned from the ups and downs of cannabis capital markets. Further, they discuss valuations in cannabis today, what the current landscape looks like amongst institutional investors, and how we expect regulatory change to impact the industry moving forward. Please enjoy.

Aug 12, 202158:21
Jess Lukas (SVP, BDS Analytics) - 2021 Trends in the US Cannabis Market

Jess Lukas (SVP, BDS Analytics) - 2021 Trends in the US Cannabis Market

Jess Lukas (SVP at BDS Analytics) and Pete Karabas (Founding Partner of KEY Investment Partners) discuss trends in the US cannabis market in 2021. Lukas and Karabas dive into the dynamics of cannabis markets on a state by state basis, how the biggest brands decide where to expand next, and why new form factors have increased legal cannabis usage over the past several years.

Aug 11, 202124:52
Justin Fischer (RiskScout CEO & Co-Founder) on Compliance Solutions for Cannabis Banking

Justin Fischer (RiskScout CEO & Co-Founder) on Compliance Solutions for Cannabis Banking

Justin Fischer (CEO and Co-Founder RiskScout) and Jordan Youkilis (Founding Partner of KEY Investment Partners) discuss compliance solutions for the cannabis banking system. The two discuss Justin's decision to enter the cannabis industry and how he decided to develop compliance software for the sector. Justin further discusses the hurdles faced by Tier 1 (plant-touching) businesses relative to Tier 2 and 3 (ancillary) businesses, and how legislative changes should impact the need for compliance solutions.

Jul 30, 202139:29
Charlie Uchill (COO CERES Coin) on Cryptocurrency as a Payments Solution for the Cannabis Industry

Charlie Uchill (COO CERES Coin) on Cryptocurrency as a Payments Solution for the Cannabis Industry

Charlie Uchill (COO CERES Coin) and Jordan Youkilis (Founding Partner of KEY Investment Partners) discuss cryptocurrency as a payments solution for the cannabis industry. The two discuss Charlie's decision to enter the cannabis industry and how he decided to develop a payment processing solution for the sector. Charlie further discusses why he chose a cryptocurrency as the preferred solution, and the regulatory approval process for CERES coin to be approved by the SEC. The two further discuss why blockchain technology can be used for seed-to-sale tracking in cannabis, and why Charlie believes the product will remain relevant following the repeal of Federal prohibition.

Jul 22, 202140:11