Michael Sassano on Wolfe Research – Mr. Global Q3 vs Q2 cannabis industry changes
Michael talks to Greg Badishkanian, Head of Consumer of Wolfe Research and shares his insights about the cannabis industry and what changes we’ve witnessed in Q3 2021 in Europe and the US.
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Michael Sassano is the current CEO and Chairman of the Board for Somai Pharmaceuticals LTD. Although Michael Sassano’s exciting career has led him to be involved in the fast-paced worlds of international real estate development, high-level banking, and cutting edge tech-investing, it is the cannabis space where he has shined the brightest. Michael is well known as one of the original movers and shakers in this sector, celebrated prominently in both mainstream business and cannabis media as an authority on large-scale cannabis cultivation, a pioneer of technology that affects entire markets, and an internationally respected expert on predicting long term industry trends. You can read about his advices and progress https://www.somaipharma.eu/news
In July 2020, Michael led a merger of the cannabis cultivation company he built, Solaris Farms, with The Sanctuary, a local Las Vegas brand operating two dispensaries and an extraction facility. In four years with it’s beginnings in private equity, Michael was able to build Solaris out from a bare lot of land into one of the largest and most well respected cannabis cultivation operations in the state of Nevada, and then further merged it into one of the top ten vertically integrated cannabis companies in the state. Michael remains on the advisory board and will help sell the new vertical to a larger company in the future.
Michael has otherwise shifted focus to his role as CEO and Chairman of the Board for Somai Pharmaceuticals LTD, an Ireland-based company that focuses on the cultivation and extraction of cannabis, and producing EU-GMP certified cannabinoid formulations for pharmaceutical distribution. Taking with him the superior cultivation and product development knowledge learned while operating a successful company in the hyper competitive western U.S. market, Somai will be one of the first American-run companies operating across legal European markets.
Michael is currently building scalable high out-put cultivation and extraction facilities in various strategic countries in Europe. The idea is to carefully develop processes for scalability and get proper registrations in order to expand as new countries legalize medical cannabis and new markets and demographics become available. The flexibility of his methods are intended to help mitigate any potential issues of government adoption by opening up avenues for adaptation and expansion as the EU market develops. As the continent ultimately comes fully online, Somai will be positioned as a top global pharmaceutical distributor of medical-grade, EU-GMP-certified cannabis.