On our latest Trade To Black podcast, Shadd Dales and Anthony Varrell line up a powerhouse trio of interviews to talk about everything from capital markets to federal reform. Margaret Brodie, CEO of Rubicon Organics (TSXV: ROMJ), talks about raising capital in this tough environment, the strategic value of being organic-certified, and what she learned from a recent trip to Germany. Jim Cacioppo, CEO of Jushi Holdings (OTCQX: JUSHF), breaks down the company’s latest earnings.
Brodie shares insights from the International Cannabis Business Conference (ICBC) in Berlin, highlighting how far behind Europe is compared to Canada in cannabis market development. Canada is an estimated 10–15 years ahead, especially in patient education, quality, and branding. European markets are still focused on bulk volume, while Canadian LPs like Rubicon have moved toward premium genetics, terpene-rich profiles, and consumer trust.
She also addressed Rubicon’s oversubscribed recent financing raise ($4.5M), the potential impact of Canadian excise tax reform, and upcoming launches including the Hope acquisition and new Simply Bare genetics.
Jim Cacioppo, Jushi CEO, gives us the company’s latest earnings highlights: $63.8 million in revenue and $9.8 million in adjusted EBITDA. Cacioppo provides updates on Jushi’s 7-in-7 strategy, confirming strong momentum toward opening seven (or eight) stores across Ohio and Pennsylvania. Despite industry-wide price compression, Jushi posted a 40%+ gross margin last quarter and continues to benefit from vertical integration and strong retail brand performance in key markets like Virginia.
With the state-run model officially “dead on arrival,” adult-use reform is actively in play during the current budget cycle. Governor Josh Shapiro’s bipartisan skill and the state’s growing $2–3B deficit are likely catalysts. We’ll discuss this and the growing medical cannabis momentum in Texas. What’s next for cannabis reform across key battleground states. Three conversations. Three different lanes of the cannabis industry. One big-picture takeaway, in this episode.
