COVID-19 boosts cannabis college enrollment
Cannabis website Leafly reported an enrollment increase in cannabis education programs as a result of the coronavirus pandemic.
“Jeff Zorn, CEO of Cannabis Training University (CTU), the world’s largest online Cannabis College, says that CTU is registering 1,000 new students per month,” Leafly says.
“With other industries suffering, people are seeing cannabis as an industry rich with opportunity and are flocking to cannabis training programs,” Leafly reported. “The back-to-school trend makes sense. As more states move toward legalization, the industry will continue to grow, creating a demand for employees and staff with a variety of skills. It’s no surprise that cannabis college, CTU, has seen 108% spike in enrollments over the summer.”
Since the beginning of the pandemic, Zorn’s school is seeing enrollments jump from 500 students a month to 1,000 students a month, with the most enrollments in the United States and Canada.
There are some catches: Cannabis is federally illegal, so cannabis colleges are generally unaccredited. Because of that, students cannot apply for grants/government student loans to pay for tuition. And, while those with cannabis-related convictions can attend cannabis colleges, they may find it difficult to land a job in the industry due to their record, Leafly reported.
There are no federal requirements for those seeking employment in cannabis; however, some states do require state level licensing/certifications in order to get hired. Working in Colorado’s marijuana industry requires a Marijuana Enforcement Division (MED) Employee License, which costs $100.
“There are many ways to land a job in the cannabis industry, and showcasing passion for education within the industry shows that you’re a proactive and self-motivated candidate,” Leafly says. “Enrolling in a cannabis college doesn’t require a high school diploma or college degree; the main requirement is that students are 18 and older. Self-growth and development are necessary in any industry, so, initiating your education in a new industry is a great example of passion — if you can afford a program.”
Attending a cannabis college provides graduates with a certificate and the knowledge of a comprehensive cannabis program, often for less than $1,000.
Columbia Care to acquire Denver’s The Green Solution
According to Marijuana Business Daily, multi-state operator Columbia Care is set to close on a full-stock deal to acquire Denver-based cannabis company The Green Solution, “which would significantly expand the New York-based MSO’s presence nationwide.”
Marijuana Business Daily reports the deal was expected to close Sept. 1 and “would net Columbia Care 23 retail stores, six cultivation facilities and one manufacturing operation that are expected to generate about $88.5 million in revenue this year.”
The report states that the transaction would increase Columbia Care’s footprint to 95 facilities that are either open or in development, including 73 dispensaries and 22 cultivation and manufacturing locations.
“Although the terms of the transaction weren’t disclosed [Aug. 26], when the deal was announced in late 2019, the acquisition was valued at $140 million with 79%, or $110 million, of the consideration to be paid in Columbia Care equity,” Marijuana Business Daily reports.
The Green Solution had unaudited revenue through July 2020 of $52.7 million, a year-over-year increase of 29 percent compared to 2019, the site reports.
“This transaction aligned well with our national strategy to be the market leader in each of our key markets while adding a portfolio of brands and products to our suite of adult-use offerings across the country,” said Nicholas Vita, CEO of Columbia Care, in a news release.
According to the release, a Columbia Care affiliate recently received permission to pursue a marijuana hospitality business license in Adams County, site of one of the first consumption lounges in Colorado.