Although the cannabis sector has been rather void of any major movement the last couple of years, there is a lot of promise for the future of the industry, especially considering the progress that the plant has been making south of the border.
The industry has been relatively stabilized since the epic surge and pullback in 2017-2018, although within the legislative entities in the U.S., regulators have pushed favorable cannabis laws which are reigniting investors’ appetite.
In 2020, U.S. House Judiciary Chair Jerry Nadler introduced a cannabis legalization bill dubbed “The MORE Act,” which descheduled cannabis from the Controlled Substances Act and enacted various criminal and social justice reforms related to cannabis.
Senate Majority Leader Chuck Schumer voiced his support for cannabis reform recently, including decriminalizing possession, expunging criminal records, and reinvesting in communities that were hit the hardest by the failed War on Drugs.
With significant footholds on both sides of the border, Humble & Fume Inc. is coordinated with America’s changing cannabis rules & laws, all while deploying effective growth strategies in Canada.
CEO Alert – Leadership Upgrades; Poised for proven growth
As Humble & Fume Inc. has officially hit the market, listing on the Canadian Securities Exchange (CSE) under the ticker symbol $HMBL, there is plenty to be excited about.
Among many factors, such as Humble’s proven track record of creating and facilitating continental growth, validated paths to profitability and a strong balance sheet; an exceptional aspect of the company is their management team.
In June, Humble welcomed Jakob Ripshtein to the Board of Directors.
Jakob currently serves as the CEO of Perennial Brands Inc. Perennial is a full life-cycle brand strategy organization that has worked with Cannabis clients in the past, such as Cannovate. Like Humble, Perennial offers massive value to their clients, creating strategic brand identities for effective marketing strategies.
Jakob formerly served as the President of Aphria Inc., which as you may know, is a leading global cannabis–lifestyle consumer packaged goods company that has recently merged with Tilray ($TLRY).
Wearing many hats, Jakob additionally held the title of Chief Commercial Officer for Aphria. He was the lead officer for all things related to boosting the topline sales, facilitating effective marketing strategies, and oversaw all of Aphria’s commercial affairs. As we learn more about Jakob’s accomplishments, his suitability for a board of directors role at the helm of Humble has us enthusiastic about the future.
Especially considering his prior role as CFO of Diageo North America.
Diageo’s portfolio of beer, wine and spirits includes several successful brands, such as:
- Johnny Walker
Jakob eventually stepped into the role as President at this leading premium beverage organization, an achievement that proves instrumental to Humble’s ever-growing business as a they position themselves as a leader in cannabis sales, distribution, and extraction.
“Jakob joins the Humble Board with significant cannabis industry experience. He formerly served as President of Aphria, since merged with Tilray Inc., and was instrumental in developing the company’s business including international expansion through acquisitions and investments, product innovation and the integration of a global supply network. Jakob’s proven strong leadership and strategic thinking will be an asset to Humble in developing our culture and performance to meet short and long-term goals. As Jakob has demonstrated throughout his career, we expect him to emphasize accountability and integrity across the business, and to invest strategically in those areas of our business positioned to achieve significant growth,” said Shawn Dym, Executive Chairman of Humble.
On July 5, another addition to the team was made.
Joel Toguri has been appointed as the Chief Executive Officer of Humble & Fume Inc.
Coming from a VP of Sales & Operations role with liquor distribution giant Southern Glazers of Canada, Toguri recently led Aphria’s (now Tilray) sales team and served as Chief Revenue Officer of Supreme Cannabis.
Today, he remains motivate to lead Humble & Fume Inc. as they continually expand their brand presence and footprint across North America.
“With a strengthened balance sheet, no debt and recently listed on the CSE, Humble is well-positioned for operational growth and increased access to the capital markets. I look forward to stepping into the role of CEO of Humble to both expand its brand presence and distribution footprint in the United States,” said Joel Toguri, CEO of Humble.
With Toguri as captain, Humble founders Robert Ritchot and Nathan Todd will continue to lead the company’s cannabis distribution business. Ritchot will oversee North American activities, while Todd’s focus will primarily be on the U.S.
“Armed with significant leadership experience and a proven track record of delivering superior execution and sales growth in the cannabis industry, we welcome Joel to our team. Joel joins us from Supreme Cannabis where he was responsible for managing and driving sales, marketing, business development and retail growth opportunities,” said Shawn Dym, Executive Chairman of Humble. “Joel’s direct cannabis experience, combined with his experience in alcohol distribution, will be instrumental in leading Humble through its next phase of strategic growth and investment. With a focus on expanding distribution, Joel will lead our team in strengthening Humble’s footprint in the United States.”
Let’s Talk Sales & Distribution
Two words we really can’t get enough of. Sales. Distribution.
Humble’s sales agency division, humble+ Cannabis Solutions (hCS) has entered an agreement to serve as the exclusive sales & distribution partner for TREC Brands Inc. within Canada.
Before we get into TREC, it is worth noting that hCS is the only agency to distribute cannabis and cannabis accessories across North America. The distribution oversight and volume alone provides Humble with invaluable data in which is utilized to tailor their brand of cannabis accessories to target what the broad market responds to the best.
The birds-eye view that Humble has across U.S. and Canada is one of the many reasons their record of accomplishments is setting the tone for their position in the cannabis sector.
TREC is a cannabis consumer packaged goods (CPG) company with a huge focus on building out their brand identity; a critical aspect when it comes to the success of CPG companies.
Naturally, some horsepower is needed when it comes to maximizing sales and distribution volume, which is where hCS comes in.
“Over the past two years, the TREC team has distinguished themselves by establishing a purpose-driven brand and donating 10% of their profits to transformative causes that put people and the planet first. Working exclusively with the top licensed cannabis growers and partners across the country, TREC has successfully established an impressive portfolio of brands – WINK, Blissed, and Thumbs Up Brand – comprised of over 20 products sold across five provinces,” said Joel Toguri, CEO of Humble. “The addition of TREC’s brands to our offering further solidifies humble+ Cannabis Solutions as the ‘First Choice’ partner for Canadian cannabis retailers, enabling our team to offer an increasingly expansive lineup of consumer-centric brands and products.”
hCS is a national sales force. Their trade marketing support covers over 1,000 recreational dispensaries in Canada and they conduct business at more than 16,000 retail sites annually. hCS has successfully established their reputation as a complete solution for premium cannabis brands and accessories.
The addition of Jakob Ripshtein and Joel Toguri to Humble’s team brings a heavy injection of distribution expertise. Having both worked for massive beer, wine and liquor conglomerates, hCS is about to see scaling and growth on par with one of the largest markets in the world of recreational drugs: Alcohol.
The agreement terms between hCs and TREC are that hCS will be the exclusive third-party retail sales representative for all of TREC’s cannabis products sold within the recreational market in Canada. The agreement is effective for 36 months with the option to extend another 12 months at TREC’s discretion.
“We are excited to partner with Humble’s national sales team to expand the geographic reach of brands and to increase consumer access to our products. We believe now is the time to take our brands to the next level. We are especially excited about the positive effect this partnership will have on advancing our 10% For Good mission to support Canadians,” said Trang Trinh, CEO of TREC Brands Inc.
Continue reading the full press release below…
humble+ Cannabis Solutions to Serve as TREC Brands’ Exclusive Sales Distribution Partner in Canada
Humble & Fume Inc. (CSE:HMBL) (“Humble” or the “Company”), a leading integrated cannabis and distribution platform in North American, announced today that it has entered into a partnership with TREC Brands Inc. (“TREC”), a leading cannabis consumer packaged goods (CPG) company with a focus on brand building, to have humble+ Cannabis Solutions (“hCS”) serve as TREC’s exclusive sales distribution partner in Canada…
Disclaimer: Humble & Fume Inc. is an Edge Communications Client, and we own shares in the company.