This week we’re chatting with the most celebrated woman in the cannabis industry.

Nancy Whiteman is the co-founder and CEO of Wana Brands, the largest cannabis-infused edible company in North America by market share. Wana manufactures and sells gummies in Colorado and licenses its intellectual property to partners, who manufacture, distribute, and sell Wana-branded gummies across the U.S., including California, Arizona, Illinois, Michigan, and Florida giving Wana a total footprint of 12 U.S. states currently, and across 9 Canadian provinces.

Nancy leads Wana’s strategic vision and is instrumental in new market expansion. She shares the challenges of an industry growing exponentially and without diversity and inclusivity. And Nancy has sound advice for women in the cannabis industry.

If you’re picking up what I’m putting down, please rate and review Casually Baked, the potcast wherever you listen. That one small action helps other canna curious folks find highly responsible discussions like this one with Nancy about her journey bootstrapping a wildly successful cannabis business and the importance of intentionally carving out your lane. We also examine the gummy craze, THCV, female consumers, and being a woman in a male-dominated cannabis industry.

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‘After the Show’ Notes

Nancy Whiteman, founder of Wana Brands
Heralded as the Martha Stewart of edibles by Green Entrepreneur, Whiteman has been instrumental in securing Wana Brands’ position as North America’s No. 1 producer of top-selling cannabis-infused products. She leads Wana’s strategic vision and is instrumental in new market expansion.
Find Wana on Social: Twitter | IG | YouTube | LinkedIN | Pinterest

Wana expects to have license agreements in place in more than 20 U.S. states prior to the end of 2022. Upon federal legalization and exercising its right to acquire Wana, Canopy Growth will own and operate Wana's vertically integrated facility in Colorado as well as its rapidly growing licensing division. This expands upon the coverage provided by the Company's existing right to acquire Acreage Holdings, Inc., a U.S. multi-state operator, and the Company's conditional ownership interest in TerrAscend Corp., another U.S. multi-state operator. Canopy Growth is making some serious cannabis chess moves to become the global powerhouse of our industry, people. Though I don’t like the idea of a cannabis industry that mirrors main stream media, I am proud to see a bootstrapping female entrepreneur succeed in such a big way.

In what’s been described as the largest transaction ever in the pot edibles space, Canopy Growth recently agreed to make a $298 million upfront cash payment in return for options to buy Wana Brands outright, if cannabis becomes federally legal in the U.S. It’s similar to Tilray Inc.’s deal with U.S. cannabis company MedMen, which also hinges on potential U.S. legalization.

Find Wana Products

Even though the acquisition may not go through if pot prohibition remains in place, Wana Brands gets to keep the initial payment from Canopy Growth. It will remain an independent company for the time being.

The transaction with Canopy Growth means that Wana Brands will have more resources to continue its growth and its social agenda. The company has been a public supporter of The Last Prisoner Project, a nonprofit that supports amnesty and expungement of criminal records for cannabis inmates.

Female Consumer Highlights

Women are key consumers of premium cannabis products
Gen X women are the fastest growing group among female cannabis consumers. And Gen X ladies love smoking flower.
Women over-index for health and wellness cannabis use - much more than men.
Big 3 reasons for cannabis use: sleep, anxiety, depression

Nancy’s Advice For Female Entrepreneurs

1. Come to every interaction from a place of strength

2. Always take yourself seriously in whatever you do, even if others aren’t just yet. That energy gets communicated out to people.

3. Control your eagerness for success. Don't let eagerness override your intuition.

4. When negotiating, let it take some time. You learn a lot about a person during that time of courtship.

5. If you want to enter the cannabis space, Nancy says clarity is key. It’s a highly competitive industry and getting more so every day.

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As the holiday season approaches, rather than playing roulette with the supply chain backlog, save your peace of mind by shopping locally and minimally.

Imagine if we all support local and regional makers, farmers, and independent businesses - we’d stimulate the economy where it has the most meaningful impact, in our own backyard.

And what if we went for quality over quantity and got one special something instead of a load of crap?

This one defiant act disrupts the patterns of mass consumption while bringing back into focus what actually matters in this life. It’s not about having the hottest pair of sneakers or every toy known to man or an outfit for every potential occasion. It’s about sharing love and creating points of connection.

Speaking of connection, I highly encourage the idea of gifting unforgettable experiences you can share with your person. Perhaps a cannabis lifestyle session with yours truly 😁 or a reservation for a Casually Baked getaway to Northern California’s wine and weed country in the spring. Or let them choose their own adventure with virtual Casually Baked Bucks - that can be used for coaching, experiences, or merch in the online store at casuallybaked.com.

Casually Baked Bucks

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Stuff Stockings with OCB rolling papers

For you grown-up joint-rolling novices, I invite you to learn the craft alongside me. Catch the Roll With Me video series live streaming on the Casually Baked YouTube channel and the “Highly Responsible Canna Consumers” FB group with replays on the Weed Tube and IGTV.

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And because variety is the spice of life, I encourage you to sample the entire line of OCB products and let me know your favorite. Ask for OCB wherever you buy your papers. You’ll find links to the OCB special offer and Roll With Me in the Potcast show notes at casually baked dot com.