United Cannabis (CNAB) is a recent reverse-merger, formerly known as MySkin. The company has a relationship with Colorado-based dispensary RiverRock that will allow it to expand the brand and the intellectual property. The most recent share-structure was conveyed on April 11th, suggesting that there are 43.62mm shares. CEO Paul Enright discusses the company and its opportunities with 420 Investor. Also, this is the public version of a similar article released on 420 Investor.
Alan: Paul, thanks for taking the time to talk about your company. Before we discuss United Cannabis, can you tell us about your background?
Paul: I am a entrepreneur with a diverse background in investment banking, insurance, fund raising, gold mining, and cannabis,. I have been part of executive management teams and held board of director positions with several public companies. I have extensive experience in the public arena over the last 26 years to coordinate efforts with capital formation, company operations, corporate governance, public relations, government oversight and relations as well mergers and acquisitions. I am responsible for coordinating the management team and identifying business opportunities. Further, as CEO, I advise the board of directors, motivate employees, and drive change within the organization.
Alan: Can you tell me more about the history of River Rock and the principals involved?
Paul: RiverRock started in 2009 in a caregiver model inside a home with 3 lights, 6 plants, and 5 patients. Our cultivation division expanded to 400 lights indoor, 30,000 sq. ft. greenhouse, 200+ strains, 15 Unique CBD strains, and in-house 50x award winning genetics department. RiverRock's founding members helped shape the Colorado state & local laws that we utilize today for both medical and recreational cannabis sales. RiverRock, and the founding members, have been featured in the Washington Post, CNBC, CNBC Money Talk, United Kingdom Social Clubs, NY Times, ABC, Dateline, Chicago Tribune, Dolce Vita International, Denver Post, NPR, Univision, 60 Minuets, Newsweek, Business Week, Bloomberg, High Times, Culture Magazine, Skunk Magazine, THC Magazine, etc. RiverRock to this day still serves those very same 5 patients along with 1.5% of the Colorado Registry or 15,000 patients a year. A founding member developed a proprietary full spectrum cannabinoid program called A.C.T. Now (Advanced Cannabinoid Therapy). This is a software based therapy guide for doctors, nurses, practitioners, and medical centers seeking to utilize the entire cannabis plant for medical applications. A.C.T Now recommends certified products with specific cannabinoid ratios, accurate dosage guides, and multiple delivery methods. Since 2011, the A.C.T Now program has successfully helped Colorado based centers like RiverRock manage thousands of patients per year with remarkable success. The program currently offers cannabis and nutritional recommendations to assist patients suffering from: Chronic pain, drug abuse, inflammation, glaucoma, PTSD, neuropathy, multiple sclerosis, fibromyalgia, Crohn’s Disease, seizures, epilepsy, paralysis, autoimmune, autism, tumors, HIV/AIDS, and many types of Cancer as well. RiverRock recently opened their doors to the public, with a hybrid medical & retail model, in hopes of being able to extend their medical program and products to all patients 21 and over.
Earnest Blackmon is a horticulturalist and entrepreneur with over 20 years experience, including 5 years in the Commercial Cannabis Industry. Mr. Blackmon is the master grower at River Rock Colorado and is responsible for the production, processing, workflow management, JIT inventory control, security, staffing, training and recruiting. Mr. Blackmon has developed a proprietary grow method based on an organic standard to aid in stable chemical synthesis to limit side reactions that diminish yield. Mr. Blackmon’s skill with operations, project management, quality control and cultivation insure that every United Cannabis production facility produces consistent high grade organic cannabis to meet the demands of our patients.
Tony Verzura currently runs the day to day operations of the A.C.T. Now program, patient care programs, product development, accredited training protocols, quality assurance, continued education, and oversees all marketing efforts. As a former general contractor, he has managed projects in excess of 100 million dollars, with an emphasis on state-to-state operations. Tony will be working hand in hand with our affiliated partners to assure a smooth transition into the United Cannabis family and will be coordinating efforts to optimize our global operations: training, education, management, marketing, branding, and sales goals are being met worldwide. Mr. Verzura has been featured on CNBC Money Talk, Washington Post, Sveriges Radio (Swedish Broadcast), and publications in Culture Magazine, THC Magazine, and High Times.
Alan: I know RiverRock has a great reputation. What are some of the things that help it to do well in CO?
Paul: It is really the people behind RiverRock that make RiverRock what it is. The founders are highly intelligent, driven people that bring different skill sets that have manifested itself into a balanced company that excels in all facets of the business. Ernie Blackmon brings over 2 decades of growing and breeding experience which has developed into the Blackmon organic grow system, a system that yields very fast growing plants and high production per light with high quality strains that have shown to be highly beneficial to our medical patients. This is all in a system that can be replicated anywhere.
Tony Verzura started the company as a patient himself growing his own medicine and others as a caregiver. As regulations shaped the industry it also shaped roles within RiverRock. Mr. Verzura focused his passion and energy on finding patient driven solutions utilizing the entire full spectrum and medicinal healing benefits of the plant. After years of observational data, and tracking individual patient results with various strains, ratio’s, products, and methods he was able to develop the world’s first cannabinoid based dosing guide called A.C.T Now. This software-based therapy guide will soon be available for doctors, nurses, practitioners, and medical centers seeking to utilize the entire cannabis plant for medical applications. The A.C.T Now program will recommend only certified products that meet their standards for the medical based cannabis products.
Alan: In your recent press release, you mentioned that you are partnering in an application for
Paul: If the application process is successful, we will hold a management contract with the applicant in which United Cannabis Corporation will earn a fee for implementing our intellectual property to be the core business model of this facility. This includes the use of proprietary products, methods and the A.C.T Now program and use of all new products and methodologies developed by UCANN. There are a lot of smart well funded people who wish to get in the Cannabis business but do not have the expertise to do so. Our business model helps to guide business people who wish to enter the Cannabis business from seed to sale. By partnering with us, they will have all the help, tools, information and staffing they need to build a successful growing and dispensary operation.
Alan: How do you go about selecting geographies, and what do you view as the greatest potential challenges to your business model
Paul: Really it is not a difficult process. We identify jurisdictions like Nevada, Arizona or Canada where regulations allow us to partner with like minded companies to deploy our business model and technology to get cannabis based medicines to those in need. Also, now that entrepreneurs and business people understand UCANN is willing to partner with them to ensure successful grow and dispensary operations, UCANN is getting a lot of incoming calls from people who wish to launch and run their facilities with our help and expertise. We have several challenges. First every state has its own idea how they will manage and regulate the cannabis business. The challenge for us is not to expand our business model too fast. We must be sure to manage this growth while maintaining the high standards we have set for ourselves. There are a lot of smart, well-funded people who wish to get in the Cannabis business but do not have the expertise to do so.
Alan: Thanks, Paul, for taking the time to talk about United Cannabis. How can investors contact you and where should they look for more information about the company?
Paul: I can be reached at 303-904-9296, and our website is: