California’s First Licensee is Now a Multi-State, Multi-Brand Cannabis Operator
September 21st, 2022
App, News, Top News
California’s legalization of recreational cannabis was an event in some ways reminiscent of the state’s famed Gold Rush 170 years earlier. There was gold in them thar hills and money in the air. Companies were lined up to secure licenses, and riches were sure to follow. Though the California cannabis industry has experienced some growing pains due to regulatory and black market pressures, it still represents the world’s largest legal cannabis market. One company, Moxie, can truly say they’ve been there from the beginning.
In 2017 Moxie was awarded California’s first cannabis business license. Since its founding in 2015, the company has focused on premium quality, sustainable practices, and careful expansion. That approach has resulted in highly awarded brands, multi-state growth, and a palette of products far beyond the scope of its initial focus on extracts.
In 2015 four friends decided to create and self-fund the highest quality cannabis concentrates available, a product they could all be proud of. All of them were already working in the medical cannabis industry, and have since brought on a broader team of professionals from other industries like consumer packaged goods, aerospace, and specialty pharmacy operations. The four friends/founders still work at Moxie today. Their combined passion for and commitment to the highest quality products made in the cleanest and most socially conscious way permeates the company’s culture.
The results have been objectively outstanding to date. Jordan Lams was named one of the 100 most influential people in the cannabis industry by High Times. The brands, products, and company have won over 100 international awards to date. Moxie products are now distributed in 4 states, and the company owns and operates facilities in both Utah and California. The company’s focus on efficiency and state of the art technology means its 11,000 square foot manufacturing facility in California is capable of producing $120 million worth of products each year, and a 16,000 sf facility in Utah just recently opened.
Moxie prides itself on its diverse premium genetic portfolio with every strain founder-tested and approved. The company’s commitment to the highest quality at every step of the way from seed to sale is evidenced by the raft of awards and extensive distribution. Moxie has grown from the original focus on concentrate to a wide ranging offering across three brands and ten+ product categories.
Building on its proven product portfolio and multi-market distribution footprint, Moxie is eyeing further expansion. The company is looking at opportunities in key markets, including Nevada, Arizona, Michigan, New York, Maryland, Florida and Illinois. Expansion could happen as an owner/operator in these new markets, or as a result of strategic partnerships. In Pennsylvania, Moxie’s 2021 partnership resulted in a #4 ranking for the brand overall and a #1 ranking for its concentrates. The deal is valued over $100 million on Moxie’s side of the ledger. In Utah, Moxie went direct and won 1 out of only 14 retail dispensary licenses alongside its processing license.
Moxie has a track record of success, from its pioneering California days to international distribution and multi-state expansion in the US. Keep an eye out for further news from the company, as its brands may soon be available in a dispensary near you.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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