Cannabis company going public on Nasdaq

Channel: Fox Business
Published: 9 hours ago

Description
Vertical Wellness CEO Smoke Wallin on the company's IPO and the outlook for CBD and marijuana. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capi...



Transcript
The cannabis company vertical plans to go public and list it shares on the nasdaq smoke wallet is with us he's the president, ceo of vertical wellness, okay, you're, also merging with somebody else today, yeah. So in our cannabis business we, which is separate from the cbd business. We are actually in the midst of back with an acquisition which will put us in the top five in the whole industry in ...
erms of transition and a cannabis thc thc side of is insane it's. You know it's really about brands and distribution. I mentioned on the break, but you know we met at seagram family association. I was an old liquor, distributor, yeah and the whole game thereis. I could deliver. You know 300 cases on a truck or 150 cases on truck and still hit the same number of stops because it's the drive time between you know between things. So it's about all about scale and filling up your truck. So you are you all going public very soon yeah, so we're gon na get date. Well we're gon na complete this transaction and that'll put us in the top. You know top echelon of thc brands and businesses and then we'll do it an rto which is a reverse takeover in the cse on the canadian stock exchange, because we have we, we have two.

On the cannabis side, we only can list in canada nowyou're a vertically integrated company, as your name suggests, exactly got the thc side of the business which gets you high. You got the cbd side of the business, which is medicinal. I put it to you, the cbd thing yeah, i know you're laughing, you know. What'S going, cbd is a bubble, it doesn't do much for you does it and as soon as thc comes along and it's recreationally, okay nationwide who's gon na go for cbd, which does nothing for you actually stirred. I i respectfully disagree, but you know i've been taking my this is cbd. This is no thc, yes taos and i i've been taking these for the last year and i used to i'man old wrestler from cornell, and i used to take advil and ibuprofen all the time right and i'd literally eliminated 90 percent of my need for doing that. With with cbd, so it is extremely promising. There'S lots of studies coming out and it's a big part of growth and - and you know, look you have a lot of people on the show and they're all managing its low-growth business or declining business. In this case, it's explosive growth and it's you know it's one of most exciting things. I'Ve ever seen. I mean, i think, since prohibition was repealed, has never been a bigger growth opportunity, and that was a long time ago. Okay, so, but the bignews today is you are going public at some point in the future, and people will have an opportunity to buy into yet another cannabis company and you're merging with another another brand name leader, absolutely we're putting two big companies together and it's gon Na give us a lot of scale in the biggest market in the world.

California, you know fifth largest economy is huge. Some the candidates say back in the 90s. You were at seagram's the liquor business. Yes now fast forward 20 years, and you know the marijuana business. Yes, because i will you're in the mood change of business. Well, i was appealed so there was. I didn't, get the own seagram, this time, iget to be a have a seat at the table. I think it's a little more fun well smoke wallet. Thank you very much of the house today. We appreciate it thanks for having me sure thing.


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