Vertical applicant C3 touts local partnership for cannabis research

Vishal Rungta, president and CFO of C3 Industries, said their 12 applications to operate in Missouri will be vital for research.

What makes C3’s application different is their partnership with a Missouri researcher.

“We’re advocates of increased medical research,” Rungta said. “We have anecdotal evidence from those who believe that this is something that helps them. We signed a partnership in Missouri with a prestigious medical researcher. We will be doing pharmacological research on cannabis. We will push forward research, though we already have a good sense of what genetics are useful. There is a lot needed in general for patient education and the industry needs good operators to push the industry as a whole forward. This is a good opportunity to pair data with the plant.”

Rungta said the partnership is valuable for both parties. C3 has experience developing medical grade and consistent cannabis products that allow for research.

“This does need to be married with operating experience,” Rungta said of the application process. “This isn’t an easy business – we are providing medical-grade cannabis for consumption for therapeutic reasons.”

Rungta and his company have partnered with many Missouri residents for ownership, staffing, and advice.

“We have close connections in Missouri and discussed the potential of the market,” Rungta said. “It has a lot of potential. We partnered with Missouri residents through those relationships we already had to put together a strong team.”

C3 currently has facilities in three other states operating under the brands Cloud Cover, for manufacturing and cultivation, and High Profile, for dispensaries. If awarded licenses in Missouri and regulation allows, leadership plans to mindfully extend the brands to Missouri facilities.

“We are a company that has experience operating cannabis in other states,” Rungta said. “We have a vertical business. Missouri will be the fourth state we enter.”

C3 currently operates in Massachusets, Michigan, and Oregon. Their experience has allowed them to develop a library of over 100 different genetic varieties for cultivation.

They have applied for dispensary licenses in St. Louis (3), Cape Girardeau, Warrenton, St. Charles, Columbia, St. Robert, and Joplin. Cultivation and manufacturing will be in St. Louis.

   

C3 first operated in Oregon, where they continue to operate a 36,000 square foot cultivation facility. Michigan was their second state where they are operational. They have facilities under construction in Massachusetts.

Rungta said their dispensaries will provide “a true retail experience,” thanks to their continued plan to source products from beyond their vertical integration.

“We want people to have access to what we believe is unique, quality product,” Rungta said. “We want people to have access to a wide variety of products.”

C3 also has a nonprofit to provide at-need discounts. The company is prioritizing hiring local, offering benefits, and paying above a living wage.

“This is all meant to increase patient access.”

Rungta said the biggest barrier for entry into the cannabis market he has seen across the country comes down to experience and education.

“There is a ton of organizational experience and knowledge necessary to get operational,” Rungta said. “It all must be very well thought through to be done correctly. Execution upfront from licensure to operation is no small feat. There is a lot of experience in operating in a manner that is efficient. A lot of people have problems passing testing requirements or struggle with lighting or disposal issues. Actually being able to operate is a challenge.”

Rungta advises patients to research facilities and make an educated decision about what products they try.

“Understanding who the operator is and knowing where the product comes from is important,” Rungta said. “Patients should be looking to go somewhere that has a team that has the ability to curate products that help patients explore a whole new world of treatment – and ask, ‘Is this a product that I believe is credible and can be trusted?’”