News

  • CALYX PEAK COMPANIES WILL PRESENT AT THE CANACCORD GENUITY 3RD ANNUAL CANNABIS CONFERENCE

    May 9, 2019

    Calyx Peak Companies Will Present at the Canaccord Genuity 3rd Annual Cannabis Conference

    CEO Ed Schmults to Share Industry Insights and Growth Opportunities Pertaining to the Multi-State Cannabis Operator

    LOS ANGELES, May 9, 2019—Calyx Peak Companies, a multi-state cannabis operator, announced today its CEO Ed Schmults will present at the Canaccord Genuity 3rd Annual Cannabis Conference at the Grand Hyatt New York on Tuesday May 14, 2019 at 3 p.m. ET. Calyx Peak Companies’ Michael Bang (CIO) and Howard Keum (Chief Corporate Development Officer) will also be in attendance, as well as Josh Del Rosso, managing director of the premium cannabis brand Josh D, a Calyx Peak Companies fully-owned brand.

    Each year, the Canaccord Genuity Cannabis Conference features presentations from the industry’s most regarded thought leaders and experts. Representing Calyx Peak Companies, Schmults will be providing attendees with deeper insight into the company’s fast-developing brands and operations, as well as growth opportunities.  

     

    About Calyx Peak Companies  

    Calyx Peak Companies is a leading multi-state operator looking to lead the legal cannabis revolution. The company operates over 280,000 square feet of cultivation, extraction and distribution facilities across multiple states.

    Calyx Peak launched with a small investment in Nevada and quickly expanded to four states. It is also the proud partner of lauded cannabis brand Josh D Farms, founded by one of the originators of Los Angeles’ OG Kush movement and second place finisher at the 2018 Emerald Cup in the Licensed Mixed Light Flower Category.

    Calyx Peak Companies continues to invest in its brands and operations in its drive to achieve a dominant position in the rapidly evolving cannabis market.

  • A CANNABIS CEO WHO LED TURNAROUNDS AT FAO SCHWARZ AND PATAGONIA EXPLAINS WHY HE'S LOOKING TO POACH 'NIMBLE' PEOPLE FROM SMALL COMPANIES — RATHER THAN BIG-NAME EXECS

    Business Insider

    November 19, 2018

    Ed Schmults, a former executive who spent years at Patagonia and orchestrated a number of turnarounds — including storied toy retailer FAO Schwarz — was recruited by a headhunter to become the CEO of cannabis firm Calyx Peak Capital. Schmults is now building out his team. He said in an interview with Business Insider he's looking for candidates from smaller companies, who can move fast with little support because the industry is "evolving almost daily." "I'm looking for people with the quintessential entrepreneurial experience," Schmults said.

    When veteran retail executive Ed Schmults received an out-of-the-blue phone call from a headhunter in July, he had no idea that in just a few short months he'd end up as the CEO of a cannabis company. 

    As the new CEO of Massachusetts-based Calyx Peak Capital — a firm that invests in cannabis retail licenses in a number of states — he's now looking to build out his team. 

    And he's not looking for big-name executives. 

    "Some of our competitors are out there trumpeting their executives from multi-billion dollar companies, and I'm sure those men and women are awesome," Schmults told Business Insider in an interview. "But I think what you really want at the start of an industry are people who've been involved in smaller companies who can work fast, be nimble, and wear multiple hats." 

    Schmults said the cannabis industry is evolving "almost daily." That's why he's focusing his recruiting on people who have deep experience in smaller businesses "where everyone's going all out," rather than mega-corporations. 

    "You know, I'm looking for people with the quintessential entrepreneurial experience," Schmults said. "I need people who can create the reports themselves and make decisions on the fly." 

    To Schmults, that sweet spot between startup and multibillion dollar firm is what he knows best. 

    After a stint at Goldman Sachs, Schmults spent seven years at Patagonia in California and Tokyo in the 1990s — while the outdoor-oriented clothing brand was rapidly growing — before he was recruited to turn around another clothing company, Moonstone Mountain Equipment. 

    He parlayed that experience into executing a turnaround of FAO Schwarz, the storied New York City toy retailer. 

    When the headhunter called him about the CEO position at Calyx, Schmults said it was a "one of those cock your head to the side" moments. 

    "I was like 'huh, cannabis?' I'll have to think about that," Schmults said. But the more he dug in, the more he realized that the potential health benefits of the plant were "astonishing." 

    "At the end of the day I really liked the investors," Schmults said. 

    And the chance to take what he learned across his career to build a team from the ground-up was a "rare opportunity" that doesn't come along so often, Schmults said. 

    "I just think it's a fascinating intellectual opportunity and a chance to remove the stigma," Schmults said. 

    { SOURCE: Business Insider }

  • MULTI-STATE CANNABIS OPERATOR CALYX PEAK RAISES $30 MILLION

    New Cannabis Ventures

    December 26, 2018

    Calyx Peak Companies Raises $30 Million for the Expansion of Its Cannabis Operations and Brands

    Altmore Capital Commits $10 Million Toward Calyx Peak Companies’ Fundraising

    LOS ANGELES, December 19, 2018 (Newswire.com) – Calyx Peak Companies, a multi-state operator, announces it has raised $30 million in investments in its current fundraising round towards the expansion of its cannabis operations and brands this year. The largest commitment comes from Altmore Capital, a real estate private equity fund, at $10 million.

    Altmore Capital is proud to be a capital partner to Calyx Peak Companies. Accessing debt and other capital is one of the many challenges cannabis operators must overcome in order to grow. We look forward to working with Calyx Peak Companies and its management team, as it continues to build a leading position in this fast-growing industry.

    Led by a diverse team of experts within the medical, consumer branding, retail, construction, business, and cannabis industries, Calyx Peak Companies operates multiple cannabis-centric operations in California, Ohio, and Nevada. Calyx Peak Companies already manages seven permits and 250,000-square feet of cultivation, extraction, and distribution facilities.

    It is also the proud partner of lauded cannabis brand Josh D Farms, founded by one of the originators of Los Angeles’ OG Kush movement and second place finisher at The 2018 Emerald Cup in the Licensed Mixed Light Flower Category.

    “Our passion lies in bolstering entrepreneurs and businesses leading the legal cannabis revolution. Already, we operate cultivation, processing, and distribution facilities in three states with pending operations in Massachusetts. Additionally, our house brand, Josh D Farms, offers consumers a direct and specialized link to one of the most popular cannabis varietals ever,” says Michael Bang, chief investment officer for Calyx Peak Companies. “The capital raised this year will finance our continued expansion across North America.”

     
    { SOURCE: New Cannabis Ventures }
  • US FARM BILL WILL MAKE CBD PRODUCTION LEGAL AND CHEAPER

    Forbes

    December 26, 2018

    The 2018 Farm Bill that overwhelmingly passed in the U.S. Senate has now become law. For hemp growers and CBD-product manufacturers the big news is hemp will no longer be equated under drug laws with its psychotropic cousin, marijuana. Industry-watchers wonder what this step could mean for future cannabis legalization.

    Under the new laws, hemp will be managed by Department of Agriculture as a crop rather than by the Justice Department as an illegal substance. Ed Schmults, chief executive of the multi-state cannabis grower Calyx Peaksaid the new law could reduce the price of CBD in the market for consumers and producers. “Hemp offers a lower cost option for CBD -- hemp is easier to grow than cannabis,” he said.

    The passing of the farm bill will also lead to more transparency in the marketaccording to Jeff Hilber, founder and owner of Modern Medicinals. “Past statutes reduced access to research and made the CBD landscape tricky to navigate for the consumer,” he said. His family-owned and operated CBD company based in Portland, Oregon makes medicinal CBD oils for people and pets.    

    Here are a few key Farm Bill points from Hoban Law Group's Senior Attorney Steve Schain:

    • Banks and payment processors/credit card companies can service the hemp industry

    • Investment and capital infusion is allowed in both the oil and fibrous hemp businesses

    • Interstate commerce of hemp and hemp products is allowed

    • Convicted felons can join the industry 10 years after the bill passes

    • Hemp farmers will be allowed to buy crop insurance for the first time.

    • Hemp futures can be traded for the first time, locking in prices for farmers

    • Help research will be allowed for pharmaceutical uses as well as for health, wellness and general nutrition, opening the doors for much more testing

    Until now, for the most part, CBD product manufacturing and shipping across state lines has operated with little interference. In 2017, the FDA issued warning letters to several CBD companies, but those referred to health claims the companies were not allowed to make or dosages the companies claimed that were incorrect.

    As public acceptance of CBD and marijuana products grows, public figures and lawmakers are changing their stance on the topic. Democrat Joe Kennedy, a Massachusetts congressman, had voted in the past against House amendments that allowed medical cannabis use.

    Recently he wrote an op-edthat said, “I believe legalization is our best chance to actually dedicate resources toward consumer safety, abuse prevention, and treatment for those who need it.” Republicans are also supporting the idea.

    Hemp can be grown on tobacco fields like those in Kentucky, the state Senate Majority Leader Mitch McConnel (R) hails from. Schmults says the Farm Bill signifies the US Government’s continued evolution on the topic. “We think the tide has turned significantly in America's stance on cannabis decriminalization and this Farm Bill is a key first step towards this milestone.”

     

    { SOURCE: Forbes }

Calyx Peak Companies


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