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MITA leads cannabis industry advancements with education & advocacy

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MITA is Arizona’s cannabis industry trade association—but they’re primed to drive change across the whole country with their industry-shaping model. Drawing the blueprint for education and advocacy that propels the cannabis industry forward, MITA brings industry professionals together to make collective progress possible.

MITA brings industry professionals together to make collective progress possible.

Since its start in 2016, MITA has operated as a non-profit organization in Arizona, growing in membership throughout that time and shaping industry change through its impactful initiatives. Education, transparency, inclusivity, and advocacy for thoughtful free-market-oriented regulations form the core of what drives MITA and sets the foundation for everything they do.

Like Leafly, MITA isn’t directly engaged in plant-touching activities. Instead, they share policy information and resources on the evolving cannabis landscape with diverse stakeholders across the nation, from media and politicians to consumers and industry professionals. With this advocacy, their best-in-class podcasts and videos, and monthly industry events, MITA has emerged as the home for people and businesses dedicated to moving the cannabis industry forward.

A dynamic network of cannabis professionals

MITA
Courtesy of MITA

If you’re in Arizona, you’re likely well-familiar with MITA’s engaging cannabis networking events. Hosted monthly and typically attracting over a thousand eager attendees, these events form a nexus where cannabis industry professionals meet to foster progress.

The energy at MITA’s cannabis business networking events is infectious, as stakeholders from every corner of the industry get the opportunity to share ideas, celebrate wins, and gain perspective. Members especially look forward to events like the annual MITA Charity Golf Tournament where fun and sun are shared in equal measure to shoptalk and critical resources.

Education with impact

MITA
Courtesy of MITA

MITA sets itself apart by creating video series and podcast resources that genuinely inspire while sharing essential perspective directly from people working in the cannabis industry.

You see MITA’s unwavering commitment to social equity come to life with the “Cannamentors,” “Social Equity Mentorship Modules,” and “Social Equity Deep Dive” video series. Cannamentors interviews a huge spectrum of industry professionals to understand how they came to the cannabis industry, the hurdles they’ve overcome, and the advice they have for other members in the industry and aspiring professionals.

Related

Arizona’s cannabis landscape: 2024’s top strains and emerging favorites

There are few other places like it where you can find such a deep-looking collection of insight on how to move and find success in the cannabis industry. Watching the series, you’re sure to find invaluable perspective on navigating the business of cannabis, but you’ll also leave feeling inspired, having listened to the stories of so many people who made a place for themselves in this ever-evolving space.

Fostering social equity with critical resources

MITA
Courtesy of MITA

MITA has emerged as a pioneering force in the cannabis industry by creating exceptional video resources tailored for social equity groups across multiple states. “Social Equity Mentorship Modules” and “Social Equity Deep Dive” are both driven by inclusivity and education, mapping out a detailed guide to the intricacies of state-based social equity programs as well as sharing critical knowledge on how to navigate the dynamic cannabis industry in the future. 

These resources foster a more equitable and informed industry by empowering social equity groups to understand and thrive within the complex framework of their local cannabis programs. They deliver insight from leading experts and create a more connected community within the cannabis industry. MITA then strengthens that connected community with events and video series like their Virtual Town Hall series, where members get the opportunity to share perspective and discuss challenges to move forward together.

MITA Unshackled: Setting the bar high with their award-winning podcast

MITA
Courtesy of MITA

Launched in June 2022 at ICBC Berlin, the MITA Unshackled podcast immediately made waves with its industry leader interviews, providing an engaging format to unravel the complexities of the cannabis world. Understanding the need for a platform to provide in-depth education for those unfamiliar with the industry, MITA Unshackled immediately set to work with immense support from the community to offer inclusive and insight-dense interviews with leaders from across the industry.

Related

Best cannabis brands in Arizona: Top picks for 2024

Each episode shares stories and key perspectives on how a diverse spectrum of stakeholders made their way in the industry, offering listeners impactful insight to inform how to grow their own businesses. In 2023, MITA Unshackled was awarded the prestigious, “Cannabis Podcast of the Year” title at The Emjays, highly deserved recognition for a resource that benefits so many.

Get involved with MITA

MITA
Courtesy of MITA

Joining MITA means becoming part of a community committed to building a strong and sustainable future for the cannabis industry. Membership offers unmatched networking opportunities, exclusive access to industry information, training and education opportunities, local business connections, and brand recognition. MITA’s impressive email list of over 30,000 industry professionals and average open rate of 30% ensures widespread exposure. In 2023, MITA sent 1.64 million emails with a remarkable open count of 565K, making for a 34.51% open rate.

Membership levels include Business Listing (free), Supreme FA Membership ($100), Individual Member ($300 yearly), Business Member ($3,000 yearly), Featured Business Member ($5,000), and Industry Leader ($6,000 yearly). Industry Leader membership offers comprehensive amenities and exclusive benefits, including C-Suite level introductions, speaking opportunities, and more.

Courtesy of MITA

MITA stands at the forefront of shaping the cannabis industry’s evolution, fueled by a commitment to education, transparency, inclusivity, and the promotion of thoughtful regulations. With its impactful initiatives, engaging events & series, and influential podcast, MITA continues to be a driving force, leading the way for a progressive and thriving cannabis industry.

Getting involved is easy, so you can join this community of change-makers today. Head to the MITA website to learn more and start connecting.




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Arizona

Arizona cannabis sales tick up in October, but still down year-over-year

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Arizona recreational and medical marijuana sales both picked up slightly during October after a disappointing summer season, according to state data from the Department of Revenue.

Arizona dispensaries sold $75.3 million in recreational cannabis and another $16.9 million in medical marijuana for a total of $92.2 million in sales for October, the state reported, up a notch from the $91.4 million sold in September.

Still, the October sales figures are below most of the rest of the year, according to state data, and the Arizona market arguably remains in a slump, with the market not expected to match last year’s $1.4 billion sales total, the Arizona Mirror reported.

October recreational marijuana sales were lower, for instance, than any month of the year apart from September. It was the same with medical. The high point of the year was March, when dispensaries sold $113.7 million worth of cannabis.

Last October, by contrast, Arizona dispensaries sold $112.8 million, including $87.2 million in recreational marijuana and $25.5 million in medical.

Cannabis sales for the year as of Oct. 31 stood at about $808 million in recreational and $204 million in medical for a total of just over $1 billion, the Mirror reported, and monthly sales trends this year make it unlikely that the final two months of the year will see a sudden giant boost of several hundred million more.

If the state’s cannabis sales pace continues, the yearly total will be more along the lines of $1.2 billion at most.



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Arizona

The Daily Hit: December 9, 2024

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News from: Nebraska, Epidiolex, Kansas, Detroit and more.

The Daily Hit is a recap of the top financial news stories for Monday, December 9, 2024.

On the Site

Last-gasp challenge to Nebraska cannabis law fails, appeal still possible

The ruling found challengers couldn’t prove enough signatures were invalid to overturn the initiatives.

Read more here.

Epidiolex delivers positive results for a third rare condition called TSC

Epidiolex is showing positive results for treating TSC, adding to its success with addressing Dravat Syndrome and Lennox Gastaut seizures.

Read more here.

Detroit operators could see licenses invalidated even though stores are open

The decision in a lawsuit centered on licenses in Royal Oak lawsuit found that the Open Meetings Act was violated.

Read more here.

Report: Kansans registering as medical marijuana patients in Missouri

Kansas’ governor is a vocal supporter of medical cannabis, but the legislature is controlled by Republicans, who stand in opposition.

Read more here.

Arizona cannabis sales tick up in October, but still down year-over-year

Full-year sales for 2024 are expected to be down from 2023.

Read more here.

Green Rebates finalizes acquisition of competitor

Combined, the two companies have procured $135 million in energy rebates for marijuana growers across the U.S.

Read more here.

In Other News

Ohio

A long-stalled overhaul of Ohio’s relatively young recreational marijuana program might see new life next year, as outgoing Senate President Matt Huffman (R-Lima) prepares for his likely speakership in the House.

Read more here.

Texas

Texas State Rep. Jessica González filed House Bill 1208 for the upcoming legislative session. The bill would allow adults 21 and older to use, possess and transport up to 2.5 ounces of marijuana for personal use.

Read more here.



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Arizona

Ohio drives revenue increase at Vext Science

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Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) released its financial results for the third quarter ending September 30, 2024. Vext reported revenue rose 13% to $8.9 million over last year’s $8 million for the same period. Revenue also increased over the second quarter revenue of $8.4 million.

The company’s acquisitions in Ohio paid off when the state began adult-use sales. Vext owns two dispensaries in the state, which it acquired in February 2024. Initially named Buckeye Botanicals, it now operates as Herbal Wellness Center. Vext also has a binding letter of intent to buy two more dispensaries in the state. In addition to that, the company owns a cultivation and processing facility in the state. The company said in its filing, “After normalizing for consolidation, Ohio sales increased by +3.3% in Q3 2024 compared to Q3 2023. We anticipate Ohio sales will continue to increase as the customer count increases now that recreational sales are permitted.”

Vext also reported that its net losses increased to $2.4 million over last year’s net loss of $1.8 million, but was trimmed from the second quarter net loss of $4.3 million. The company’s cash levels fell dramatically from $8.7 million at the end of 2023 to $2.8 million at the end of the third quarter.

CEO Eric Offenberger said, “Our solid Adjusted EBITDA results reflect both the transition to adult-use sales in Ohio, as well as our focus on maintaining strict cost control. Despite a challenging economic climate and typical third-quarter seasonality and pricing pressures in the Arizona market with the ongoing supply-demand imbalance, we’re pleased to report that our economic unit volumes remain strong. This demonstrates the resilience of our business model and the strength of our customer relationships, positioning Vext favourably with customers as the Arizona market continues to stabilize.”

Ohio pays off

Vext told investors that during the third quarter consolidated Ohio retail locations experienced an increase of +14.2% in total sales compared to the second quarter. The company said in its filing that it is still waiting to complete the acquisition of the Big Perm dispensaries in Ohio. It also noted that the two retail locations also grew in excess of +200% in the third quarter versus the second quarter as a result of the beginning of adult-use sales.

Offenberger added, “As anticipated, Ohio proved to be a key revenue driver this quarter. Vext retail stores performed at or above state averages, resulting in a 14.2% sequential increase in consolidated retail sales driven by higher customer traffic and order volumes. As 2024 ends, our focus remains on maximizing the benefits of our fully vertically integrated footprint in Ohio to support revenue and cash flow growth, while optimizing our presence to reach the state dispensary cap of eight (8), putting us on the path to achieve our financial targets. For the remainder of the year and moving into 2025, we are confident that the continued execution of our strategy and systematic cost management will drive sustained profitability and cash flow, building long-term shareholder value.”

Arizona weakness

The company noted that Arizona, which once represented 83% of the company’s sales now only contributes 63% of the sales. Vext has cut headcount in the stores as sales have been flat. The Arizona market overall has seen store count rise and competition increase. Still, Arizona represents a large portion of the company’s revenue.



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