The legal cannabis industry has brought multi-million-dollar opportunities and sky-high returns to many, but while it's been a tremendous opportunity with companies being valued in the billions, there are less than 10 publicly-traded cannabis companies led by women CEOs.
However, a new, woman-led company that listed in late 2018 is making some serious noise - The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) (Frankfurt:YG3) is on par with some of the largest cannabis companies valued in the billions. The Yield Growth Corp also happens to be led by a female CEO, Penny Green who has been formerly recognized on PROFIT Magazine’s W100 list of top Canadian female entrepreneurs.
Penny explained her drive to me, citing that between 2015 to 2017 the number of female executives in the industry in the U.S. fell by 9%, right around the time that we saw the public capital markets begin to increasingly enter the space. The capital markets and publicly traded cannabis companies are very much dominated by men and less than 10 publicly-traded cannabis companies in North America are led by women CEOs. Men outnumber women on corporate boards by more than four times.
Penny said, “As we move into the next phase of the cannabis industry - it absolutely critical for companies to have a significant number of women at the helm if they want to succeed. The next wave of opportunity in cannabis will go beyond cannabis growers and will be in value-added products like topicals, beverages, and even things like pet products that will produce the highest margins and brand loyalty.”
She added, “There are not enough women in the industry and I’m always trying to encourage more women to get into it. The legal cannabis industry has brought billions of dollars of opportunity to those pioneering in it, and while we’ve seen a lot of stories about the relatively high number of women in the cannabis industry - the number has actually been decreasing. Between 2015 to 2017 the number of female executives in the industry in the U.S. fell by 9%. This was right around the time that we saw the public capital markets begin to increasingly enter the space.”
Something I found particularly interesting was that Penny is also a securities lawyer and previously founded a successful law firm from her attic while she was a single mother of three young children, wow!! Her law firm went on to be named in the PROFIT 500 Fastest Growing companies in 2015 and 2016.
The largest asset held by The Yield Growth Corp is Urban Juve Provisions Inc - a skincare and wellness line using hemp root oil extracted using a proprietary extraction method and being driven by a former M.A.C executive. This line will be complemented by a CBD/THC topical line that already has secured distribution opportunities throughout Oregon.
What are people saying about Urban Juve? Let’s see….
"Myself, along with two co-workers, have all tried the moisturizer - 1 of each kind (as per our different skin types). We have noticed a difference in skin clarity, and texture after only a few uses." - Dr. Michelle O'Neill ND, Elements Naturopathic and Wellness Centre.
"When we were looking for a skincare product to support our Sugaring procedure, we were thrilled to learn about Urban Juve from one of our customers. We love the product! It is all natural - and skin and earth friendly. As soon as we put it on our faces, we were struck by the consistency of the product and how silky it made our skin look and feel. " - Joanna White, Lily Bar Sugaring
I look forward to seeing where this powerhouse of fem-trepreneurs will take things next!!