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CREDIT ­ISSUES: Spencer Blier, left, CEO and founder of Mammoth Inc., one of Rhode Island’s licensed cannabis cultivators, in his facility with one of the Mammoth technicians. Because the federal government has not legalized cannabis, banking services and credit card processing are difficult to come by for businesses in the industry. 
PBN FILE PHOTO/MICHAEL SALERNO

Credit card restrictions curbing cannabis sector

People’s Credit Union CEO and President Sean Daly says major credit card companies and financial institutions remain cautious about entering the legal cannabis industry,...
ATTENTION-GETTING: Stuart Procter, PureVita Labs LLC co-owner and laboratory director, left, speaks during a panel discussion at Providence Business News’ The Business of Cannabis Summit on Sept. 7 while panelists Ronald Crosson, center, chairman of the R.I. Cannabis Advisory Board, and Spencer Blier, CEO of Mammoth Inc., listen. Not visible behind Procter is panelist Armand T. Lusi, president of the Rhode Island Cultivator Industry Association. 
PBN PHOTO/MIKE SKORSKI

Cannabis industry says advertising key to overcoming glut of products

After the Rhode Island Cannabis Act was passed, Spencer Blier, CEO and founder of cannabis cultivator ­Mammoth Inc., says he saw the number of...
STATE REP. SCOTT A. SLATER, second from left, speaks during one of the panel discussions at Providence Business News’ 2023 Business of Cannabis Summit at the Providence Marriott on Thursday morning. Also on the panel, from left, is and Kelly Wishart, chief operating officer of Coastline EAP/RISAS; Drew Richards, director of Marcum LLP; Benjamin Rackliffe, partner with Pannone Lopes Devereaux and O’Gara LLC; and Kristyn M. Glennon, first vice president and Bank Secrecy Act/Anti-Money Laundering officer of BayCoast Bank. The discussion was moderated by PBN Editor Michael Mello, far right. / PBN PHOTO/MIKE SKORSKI

PBN summit: Cannabis sector ‘a struggle’ but making progress

PROVIDENCE – As the R.I. Cannabis Control Commission takes the next several months to draw up the state's crucial first set of regulations on...
JUMPED THE BORDER: ­Edward Dow, CEO of Massachusetts-based Solar Cannabis Co., has opened a dispensary in Warwick. He’s seen sales in Rhode Island growing steadily while business in Massachusetts has declined. 
PBN PHOTO/RUPERT WHITELEY

Cannabis complications: Promising marijuana industry falling short of expectations

Dr. Jason Iannuccilli has invested a lot in his lab in the past year. Like many entrepreneurs in the cannabis industry, the co-founder of Pure­Vita...
FUTURE EXPANSION? Alyssa Kenyon works as a trimmer in the Mammoth Inc. cannabis cultivation facility in Warwick. Founder and CEO Spencer Blier hopes eventually to add grow rooms, lab space and employees after retail sales of recreational marijuana start in December. 
PBN PHOTO/MICHEAL SALERNO

A GROWING WORKFORCE: New labor pipeline emerging for legalized recreational cannabis

Celia Kinneary entered Johnson & Wales University’s culinary program with a grand vision of opening her own bakery and brewery someday, but now those...
PUT TO THE TEST: Dr. Jonathan Martin, center, co-founder of PureVita Labs LLC, talks during a panel discussion at Providence Business News’ 2022 Business of Cannabis Summit on Sept. 15. PureVita offers regulatory testing for marijuana cultivators. Also on the panel are, from left, Seth Bock, founder and CEO of Greenleaf Compassionate Care Center Inc.; and Michael Budziszek, a professor of biological sciences at Johnson & Wales University.
PBN PHOTOS/MIKE SKORSKI

Brace for abrupt shifts in legalized cannabis market

In the cannabis market, nothing is simple, says Seth Bock, founder and CEO of Greenleaf Compassionate Care Center Inc. in Portsmouth. The legalization of...
KEEPING TRACK: Spencer Blier, right, founder and CEO of licensed marijuana cultivator Mammoth Inc. in Warwick, watches as Rob Cornell harvests some of the product. Blier says banking and tax accounting are made more difficult because federal law prohibits the cannabis industry. / PBN FILE PHOTO/MICHAEL SALERNO

For cannabis industry, bookkeeping not easy

Stories of cannabis business owners carrying around backpacks filled with cash while doing business are symbolic of an industry saddled with the challenges that...
SUPPORT GROUP: Cranston Democrat Sen. Joshua Miller, left, and Senate Majority Leader Michael J. McCaffrey, right, introduced legislation last spring to legalize recreational marijuana, with the backing of Senate President Dominick J. Ruggerio, center. It passed the Senate but died in the House. / PBN PHOTO/MICHAEL SALERNO

PLANTING THE SEED: Stakes are high as R.I. officials lay groundwork...

It’s really no longer a matter of “if” recreational use of marijuana will be legalized in Rhode Island. Now it’s more a question of...
LOTS OF GREEN: Spencer Blier, left, CEO and founder of Mammoth Inc. in Warwick, one of the state’s licensed cannabis cultivators, in his facility with Lucas Molak, plant operations and solventless ice water technician. Mammoth generates $100,000 to $120,000 in cannabis sales per month. / PBN PHOTO/MICHAEL SALERNO

Homegrown cannabis venture becomes Mammoth cultivation and sales operation

Cannabis seeds mature into budding plants that sit submersed in 13-gallon buckets of water, nurtured with injections of nutrients, oxygen and artificial sunlight until...
THE STATE OF RHODE ISLAND is seeking to create a lottery system to grant six new licenses for medical-marijuana dispensaries by May 14. / AP FILE PHOTO/JULIO CORTEZ

A lot is riding on cannabis license lottery

With Rhode Island poised to issue licenses for six new cannabis dispensaries, some applicants say the selection process will hamper the chances of experienced...
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