Trade to Black welcomes two top Canadian LP CEOs for a CEO-focused episode. Our latest Trade To Black podcast presented by Flowhub hosts Shadd Dales and Anthony Varrell touch base with two top CEOs in the cannabis space after another busy week of earnings season. First, Organigram Holdings Inc ( NASDAQ:OGI ) CEO James Yamanaka joins the show after a softer quarterly earnings report that raised questions from investors. Then, in segment two, Village Farms International Inc. ( NASDAQ:VFF ) CEO Michael DeGiglio returns to the podcast following another strong earnings report, including 171% year-over-year growth in international hemp.

Organigram CEO James Yamanaka, four months into the role, reflects on a disappointing fiscal quarter profit of $59.8 million. There was great respect for the transparency James brought to the conversation, openly explaining some of the operational issues surrounding vapes and infused pre-rolls, while also outlining why he still believes the long-term story remains intact. After multiple acquisitions and major expansion moves over the past 18 months, James explains why management believes these are solvable operational issues rather than deeper issues within the business.

Internationally, he reports that the acquisition of Sanity Group in Germany is going well, as April’s results put the company on pace to meet its stated target of €25 million in the quarter. He also highlighted a leisure pilot program in Switzerland and signaled that Organigram will be judiciously pursuing further market expansion, prioritizing only those markets where it believes it can be in the top three.

Village Farms CEO Michael DeGiglio joins the show to discuss what he describes as an announcement quarter, not just a strong one, highlighted by 171 percent year-over-year international revenue growth. DeGiglio credited decades of greenhouse processing experience and a six-year commitment to EU GMP certification as the foundation of the company’s competitive moat, pushing back against the notion that US operators will easily dominate global export markets once the realignment is fully implemented. He argues that stability testing, regulatory compliance on both sides of the Atlantic, and the learning curve required to achieve true pharmaceutical-grade standards are significant hurdles that will take years, not months, to clear.

With the U.S. opportunity, DeGiglio confirmed that the company is actively reevaluating its Texas assets and broader U.S. entry strategy, taking into account: rearrangement Statement defining the April order as a transformational moment for the global industry.

In our latest Trade To Black podcast, host Shadd Dales and Anthony Varrell sit down with Safe Harbor Financial ( NASDAQ:SHFS ) CEO Terry Mendez to talk about what hemp finance could look like post-280E. When medical cannabis moves to Schedule III, the industry enters a very different phase. Operators are bracing for cleaner balance sheets, better cash flow and a lending environment that may finally look more rational.

Safe Harbor Financial ( NASDAQ:SHFS ) sits right in the middle of that conversation. Terry breaks down what Safe Harbor really is today – not just a “cannabis bank” but a compliance, lending, fintech and professional services platform built around cannabis operators and financial institutions. The conversation covers how Safe Harbor Financial ( NASDAQ:SHFS ) has repositioned itself under Terry, how the company has reduced debt, strengthened its balance sheet, and why its $25 billion in historical cannabis transaction data could be a key asset. They also access the DEA portal, where more than 400 companies have already filed, what operators need to prepare for under Schedule III and why small businesses can work together if they want to survive the next round of consolidation.

When asked if the struggling carriers simply represent a market correction rather than a fixable structural problem, Mendez acknowledged that shared services alone cannot drive profitability in the most saturated markets. However, his broader view was that too many operators entered the industry without a disciplined CPG playbook, citing site selection, foot traffic analysis and professional management as regularly overlooked fundamentals in cannabis that are non-negotiable in any other retail industry.

With the realignment now in motion, Mendez argues that the gap between well-managed and poorly managed businesses will accelerate. He predicted a wave of leveraged buyout-style consolidation in which better-capitalized players would acquire distressed assets at leveraged levels and run them more efficiently, a strategy he directly compared to the leveraged buyout culture of the 1980s. He also noted that listing on major exchanges would give large operators a currency of equity that would dramatically reduce their cost of capital and increase their acquisition opportunities.

This is a big-picture conversation about finance, lending, compliance, banking, M&A, and what happens when cannabis finally begins to move into a more normal financial system.

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell tackle a big question that many investors are starting to ask right now. Is the cannabis industry finally starting to stabilize? It’s a packed episode in two parts. In the first segment, Scott Grossman, founder and CEO of Vindicator Capital, joins the show to look at the cannabis earnings season, the companies that stood out and whether the recent upturn in sentiment actually has legs. Then in part two we launch a brand new weekly feature, Vantage Standard. This series focuses on what could be the next phase of the cannabinoid industry.

Scott Grossman, founder and CEO of Vindicator Capital, offers Wall Street’s perspective on the hemp industry’s latest earnings season. Grossman describes the present moment as “Cannabis 3.0,” a phase defined not by licensing or survivability, but by company-specific architecture; operators such as GTI, Trulieve, and Curaleaf are each building different strategic paths around recreational dominance, medical expansion, and international reach, respectively.

Be sure to tune in to the interview as Grossman gets candid about his focused approach to portfolio holdings. The conversation will then turn to when, not if, the sector will see a significant revaluation, with Grossman noting that 95 percent of inflows currently go through ETFs and that true institutional participation remains blocked by custody and compliance hurdles.

The second installment introduces Vantage Standard, a new weekly feature. This series focuses on what could be the next phase of the cannabinoid industry: health systems, pharmaceutical-grade manufacturing, Medicare models, physician oversight, and how cannabinoids may eventually fit into the regulated healthcare infrastructure in the United States.

CEO Rusty Kuchta, a 30-year pharmacist, and Chief Medical Officer, Dr. Paul Shields, walk us through the CMS CBD pilot program running in ACO REACH organizations. Together, they help figure out how an entire CBD pilot can evolve from an early-stage framework into a large-scale healthcare model, while giving viewers a step-by-step look at how this entire process will unfold over time.