Our States

Nevada

Established in 2016 as the first in Nevada to hold both cultivation and processing licenses, Cannavative stands as a distinguished cultivator and processor garnering shelf space in over 80% of the state’s retail outlets. They are a multiple award-winning cultivator and processor: Leaflink’s Top Brand in Nevada in 2021, a gold and silver medal at the 2020 Las Vegas Cannabis Awards, the 2019 Jack Herer Cup for their vape pen, and Leafly’s Best Flower Products brand in 2018. Cannavative offers an extensive range of extracted items, including the Motivator infused pre-roll and Resin8 vape.

Nevada is a major cannabis market in the U.S with sales over $880 million in 2022 according to the State of Nevada Department of Taxation. Nevada’s strong sales are supported by their tourism, with over 38 million visitors in 2022, according to the LVCVA Research Centre. The Nevada tourist industry, and Las Vegas in particular, offers Cannavative significant exposure for its national brand development.

Cannavative operates from a 40,000-square-foot facility, situated on an 8.5-acre site in Reno Nevada. The facility includes a cutting-edge, 10,000 square feet pharmaceutical-grade extraction lab and kitchen. In addition to its in-door cultivation, there’s 2,800-square-foot high-tech light deprivation greenhouse, with significant potential for expansion on the property. Cannavative’s substantive operations allow it of offer multiple products across multiple product categories, to meet the diverse and discerning customer base. Cannavative’s commitment to quality and innovation will continue to position them as one of Nevada best-selling brands.  

New Jersey & NJ Entities  

Vencanna is making substantial strides in advancing its investments in New Jersey through three community partnerships: TGC New Jersey LLC. (“TGC”), CGT New Jersey LLC (“CGT”), and October Gold LLC (“October Gold,” collectively referred to as the “NJ Entities”). The New Jersey Cannabis Regulatory Commission has awarded TGC an annual cultivation and manufacturing license, with the conditional retail license pending approval, and each of CGT and October Gold has received a conditional retail license.

New Jersey, with a population of 9.3 million (and another 35 million residing in its border states), ranks as the 11th most populous, and the most densely populated state in the United States. While adult cannabis was legalized in April 2020, its roll out has been slow. This has been in part due to a nascent medical market before adult legalization, and the fact that less than 25% of state’s municipalities has opted-in. Adding to the challenges, most opted-in municipalities limit the number of retail locations and generally pose restrictive zoning parameters.

Vencanna is pleased to announce that TGC has secured a 15,500-square-foot facility in Cinnaminson, NJ. The site shall house cultivation, manufacturing and retail sales. This single-site vertical operation will enable direct product showcasing to customers. This strategically located site is just off the Hwy-130 corridor between Trenton and Camden, which effectively borders Pennsylvania. Retail sales in Cinnaminson are restricted, as they are only allowed if the establishment is co-located with cultivation. In addition, currently all the adjoining municipalities either do not allow retail operations or limit their number, making the TGC site positioned for success. TGC expects to become operational later in 2024.

In addition to TGC, Vencanna is very pleased to announce that CGT has also successfully secured a site; a 4,150 s.f. location in Bellmawr NJ, that is less than 10 miles from Philadelphia. The location has direct egress off HWY 24, the main artery from Philadelphia. The location is situated between the I-295 and the NJ Turnpike, on the southbound side of HWY 42 thereby capturing the afternoon traffic from Philadelphia. The south bound traffic on HWY 42 alone sees over 145,000 cars each day. CGT has received its joint land use approval from the municipality, and is now working with them in obtaining its retail support letter. Should CGT successfully obtain its retail operating licence, they would be only the second cannabis retailer in Bellmawr (Bellmawr currently allows only two retailers).

The Company continues to review potential sites for October Gold, collaborating closely with local municipalities, and working with additional community partners, in order to expand its New Jersey network. In addition to supporting the New Jersey entities through funding and managerial oversight, Vencanna will also bring its SOP’s and top Nevada brands to this new market, further expanding our reach. The retail market in New Jersey is anticipated to remain very attractive, as the real estate and market challenges are anticipated to continue thereby limiting new entrants in the near term.