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Ignite Cannabis President Discusses the Dan Bilzerian Advantage
Ignite Cannabis President Jim McCormick discusses the Ignite brand and Dan Bilzerian’s for the cannabis space. He explains that Ignite is more than a cannabis company, it’s a consumer products company selling cannabis, CBD,THC, vapes, and sees its brand as being able to be spread across multiple product lines. McCormick reveals Ignite is an asset-light company, while the company is not growing cannabis, its partnering with leading cultivators and white-label producers. Currently, the company’s revenue model includes online sales and dispensaries but is looking to close a national distribution model for its CBD products. McCormick talks about the brand’s leading product offerings, which include vapes and toothpicks. He explains that Bilzerian’s considerable social media following gives Ignite an advantage over other cannabis companies but emphasizes Ignite’s other branding elements, such as packaging, are also key to consumer loyalty. Ignite is a global opportunity and is looking to raise $100 million this year as it rolls out products in the US, Canada, and UK. McCormick hopes to have positive cash flow by 2020.