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Cameron Forni: How to Build a Billion-Dollar Cannabis Empire

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Cameron Forni
PHOTO | Select Oil
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Cameron Forni knows a thing or two about building a billion dollar cannabis company. The CEO of Cura and founder of Select Oil has always been an innovative thinker. In 2015, he identified and developed the need for an organic cotton wick vape pen, providing a healthier consumption method. From there, he set his mission to be the leading provider of cannabis oil to both consumers and premium brands in legal markets, both in the U.S. and internationally.

We spoke to Forni about his entrepreneurial journey, Cura’s record-breaking success in the cannabis industry, and his predictions for the future of cannabis.

Cannabis Aficionado: Tell us a little bit about your journey through entrepreneurship and how you ended up in the cannabis world.

Cameron Forni: I’ve been an entrepreneur my entire life and have had many incredible mentors. Entrepreneurship was in my blood; I did everything from selling flowers on the side of the street in Milwaukie, Oregon as young as four-years-old, to managing a car detailing business in high school, to building an event company in college. I have always been interested in business and entrepreneurship.

Right out of college, my goal was to create jobs, not to take a job. I started my journey in entrepreneurship when I co-founded TextNoMore, an app designed to reward drivers avoiding texting while driving. From there, I co-founded TryEco LLC, which holds a patent on a starch-based, biodegradable super-absorbent polymer used primarily in agricultural applications. I always had a focus on building businesses that helped people live better lives and achieve more and that’s what led me to cannabis.

With both a medical card and a caregiver card on hand, I started looking at what the future of cannabis would be. I knew that combustion wouldn’t be a long-term option for most cannabis consumers, so I started focusing on safety and vaporization. I started taking apart every vaporizer pen in the market and learned that silica fiberglass was commonly found in most cartridges, so I built a new cartridge, innovated with organic cotton and unique absorption systems.

That’s when Select was born. It’s been quite the journey!

Over the last 18 months, Cura has seen record-breaking success in the industry. You became the first cannabis company to appear in INC. magazine’s annual top 50 companies in 2018. Now, your billion-dollar deal with Curaleaf Holdings is said to be the largest ever among American companies. How does it feel to be behind one of the industry’s golden unicorns?

Wow, what an incredibly cool question to hear. It’s often difficult for me to pause and reflect, so thank you! I’m thankful for the team who has helped build this incredible company with me every day. When you are relentlessly working and traveling (on pace for 300 flights this year alone) because you are so obsessed about something, it’s hard to turn it off. It’s been more than four years of hard work, but in cannabis years, they say that for every one year you multiply by seven because it’s moving so fast!

Sometimes it’s really hard to step back and look at what the work has become. People think that achieving milestones like the Inc. 500 placement or our billion-dollar acquisition must be all we think about, but it’s not always straight forward. We face federal regulatory approval, state licensing approval, audits and regulatory change in each state so often that it’s difficult to master balancing it all. That’s why you need an incredible team.

Cameron Forni (left) started his entrepreneurial path at a young age.

Cura is widely respected in the industry for innovative extraction techniques and its focus on setting high standards for quality products. How has it evolved from its beginnings into the industry leader it is today?

First of all, it’s always been about building the best team possible and taking care of people along the way.

Our evolution over a short period of time is due to our constant focus on innovation, setting best practices and our never-ending pursuit of better.

Senate Bill 582 will allow Oregon to import and export cannabis products across state lines — but only if the federal government changes its policies. What are your thoughts on this?

The main hurdle is the federal Controlled Substances Act which bans interstate shipments of cannabis. That would have to change. Otherwise, the states that attempt to implement this are subject to crackdown by the Federal Government. There is much work to be done here before this becomes a reality.

Which international markets do you think are really leading the charge right now?

The industry is in the first of a nine-inning ball game. With now 11 states with adult use policies, 33 states with medical cannabis laws and 62 percent of Americans in favor of legalizing cannabis (according to PEW), I expect the industry to have massive growth and significant consolidation.

Canada is the leader from the standpoint of the financial market because it came in early, established policies and amassed significant capital to deploy into international markets. However, the leaders in medical cannabis and cannabis research is still Israel who has been making significant investments into research and development in cannabis science.

Will vape pens replace flower? Why or why not?

There’s a nostalgia and ritual to consuming joints and using flower. With baby boomers and longtime cannabis users that will undoubtedly continue. However, U.S. consumer preferences always gear more towards convenience. The closer we can create the experience of vaporizing unique cannabis terpene and oil formulations, the closer we can get to replicating the experience to that of flower. Long term you will see vaporization pass combustion of flower and in the end, it’s safer.

What new challenges will the industry face going forward?

Banking, taxation, legislation and real estate have always been the major challenges facing cannabis operators. We are the most heavily taxed industries in the world. We are also one of the most heavily tracked — meaning track and traced — industries in the world. In every legal state we use RFID chips on each product case that goes to stores in order to track the product from seed to sale.

Last but not least, cannabis companies achieving profitability is becoming critical to survival in this space. With large gluts of products in states like Oregon, it makes it very hard to run a profitable business under incredibly high taxation.

What trends are shaping cannabis in 2019?

I expect unique terpene profiles and oil formulations to become more popular. Additionally, innovative, discreet and more elevated devices will be the main drivers for 2019.

What demographic do you see having the most growth?

We’re seeing more and more young professionals 25-35 come on board to cannabis at a quick rate. Millennials are seeking cannabis options that suit their own personal needs and they’re becoming more willing to share their interest in cannabis publicly.

What are your one year, five year, and 10-year predictions for the cannabis industry?

1 year: More states will continue to come on board and legalize adult-use cannabis. With that, we’ll also see an uptick in normalization around the country.

5 year: Ideally, the STATES Act will pass, providing more people with access to cannabis, jobs and business opportunities around the country.

10 year: Cannabis is treated by society and regulated by the government like alcohol and will become mainstream.

What do you know now that you wish you knew when you started?

The biggest piece of advice I’d offer to new cannabis entrepreneurs would be to surround yourself with people who fill in your weaknesses early on.

It’s important to be agile and never get stuck to a plan. The plan is always changing because the regulatory environment is always changing. You can’t work in this industry without being agile and nimble with decision-making.

Finally, what are the three things people don’t know about being a cannabis entrepreneur?

  1. Time commitment: If you want to be successful in this business be prepared to give up your social life. I find myself traveling 48 weeks a year. Having a very understanding partner is critical as well!
  2. The regulatory environment WILL shift beneath your feet. Expect to order one million boxes of packaging and 2 weeks later that package is obsolete in one of the states you operate in because they need a new sticker
  3. Cost and funding: Traditional capital is not readily available to the cannabis entrepreneur, you need to make sure your business can survive and thrive. It’s very expensive to handle all the taxes and fees that accompany a cannabis business. For example, in California we face 44% supply chain tax, 12% excise tax, 11% sales tax, 5% gross revenue tax, 35% 280E tax, along with licensing fees and higher-than-normal rates for real estate… just because we’re a cannabis company.

Cannabis

Israel’s Cannabis Trade Probe Moves Toward a Four-Producer Review

Israel’s latest procedural step puts four Canadian producers in focus, while the distinction between an investigation and an imposed trade duty remains essential.

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Shipping containers and cranes at a commercial port

Israel’s investigation of Canadian medical cannabis imports has reached another procedural stage, with four producers identified for closer examination, according to reporting on an October 22 notice. The development concerns how investigators will assess exporters. It does not, by itself, establish that dumping occurred or impose a new import duty.

Israel’s Cannabis Magazine reported that the trade-levies commissioner selected Koots Canna, 2323414 Alberta and Cielo Verde Quebec as a sample, with GrowCo to be examined separately. The outlet said it obtained the commissioner’s document. Cannabis Aficionado has reviewed the published reporting, rather than independently obtained that notice.

Why four producers are in focus

According to Cannabis Magazine, the three sampled growers represent about 22 percent of exports among the 16 indoor and hybrid growers that supplied data. GrowCo was singled out because of its greenhouse production and export volume. The report says the four together cover approximately 70 percent of Canadian cannabis imports into Israel during the relevant investigation period.

Those are descriptions of the proposed examination, not market-share figures that should automatically be applied to current retail sales. The reporting also describes a five-business-day response period for parties to comment. A reader should not mistake that opportunity to respond for a final ruling.

StratCann’s October 23 report adds that 22 Canadian companies supplied initial responses and 17 had exported during the investigation period. Its account says the commissioner considered individual calculations for every cooperating exporter impractical within the available time. Sampling is therefore central to this stage of the dispute.

What “dumping” means in this context

The World Trade Organization’s explanation of anti-dumping rules describes dumping as exports sold below their normal value, generally assessed against the exporting market. It is a trade-law pricing question. It is not an allegation that cannabis was contaminated, illegally cultivated or unsuitable for patients.

The comparison is more involved than placing two advertised prices side by side. The WTO describes adjustments that can be needed for differences in sale conditions, quantities, taxation and product characteristics. Its framework also requires consideration of material injury to a domestic industry and a causal link between that injury and dumped imports.

That makes production methods and comparable pricing relevant without making either conclusive. A greenhouse producer can have different costs from an indoor grower, but a cost difference alone does not settle all the questions required for an anti-dumping measure. The investigation has to establish the relevant facts through its process.

A dispute with several procedural turns

The latest review follows an earlier investigation that was closed in July. In a July 28 notice, Israel’s Ministry of Economy and Industry said the closure was for procedural reasons: advance notification had not been provided to the exporting country’s competent authority because of human error.

The ministry explicitly said that closure was not a substantive determination on the complaint. It also preserved the possibility of a further complaint or a new investigation. The distinction matters in both directions: closure did not establish that the allegations were correct, and it did not establish that they were disproven.

Cronos Group’s securities filing records a new complaint dated July 30, notification to Canada on August 2 and notice to the company on August 5 that a new investigation had begun. The company says it cannot predict the outcome or whether provisional or final duties will ultimately be imposed.

The filing also traces the earlier case to January 2024 and describes the finance minister’s opposition to the proposed duty in April 2025. It records subsequent court challenges as well. That history helps explain why earlier proposed tariff percentages should not be presented as the rate established by the October 2026 sample-selection step.

What changes for readers and businesses now

For businesses, the immediate development is a more specific picture of which exporters may receive detailed scrutiny. It is not enough information to calculate a new landed cost, predict a supplier’s future prices or announce an interruption to patient supply. Those claims would require additional evidence.

For patients and other readers, an investigation headline should remain separate from a product-safety headline. Nothing in this procedural selection establishes a health finding about a named producer’s cannabis. Nor does it establish a new prescription rule.

The next substantive items to watch are the commissioner’s treatment of responses to the sample, any published preliminary determination and any resulting measure. Reports available for this article describe sample selection, with no preliminary duty decision reported at that stage. Until a later document changes that position, the appropriate description is an unresolved trade investigation.

Illustrative stock trade photograph; not a documented cannabis shipment or an Israeli port. Photo: Andrea Musto / Pexels.

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Rubicon’s $3 Million Raise Puts Greenhouse Lighting at the Center of Expansion

The Canadian producer plans to expand output from existing facilities, with a lighting project bringing its combined capacity target forward to June 2027.

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Potted plants beneath the glass roof of a greenhouse

Rubicon Organics is putting new capital into the lights above an existing crop rather than announcing another cultivation site. The Canadian producer’s October 19 financing announcement outlines a roughly $3 million private placement intended to support lighting and related greenhouse infrastructure at its Pacifica facility in Delta, British Columbia.

The company expects the project to help bring combined annual capacity at Pacifica and its Cascadia facility to 20,000 kilograms by June 2027, about a year earlier than previously anticipated. That is a production target. Whether additional capacity becomes profitable, saleable flower will depend on execution, operating costs and demand.

What the financing is intended to fund

According to Rubicon’s announcement, Siwash Rock Investments subscribed for 6,666,667 common shares at $0.45 each. Proceeds are intended for the lighting project, with the balance going to working capital.

Rubicon says Pacifica’s annual capacity could reach 15,500 kilograms after the upgrade, a 40 percent increase at that facility. The 20,000-kilogram figure refers to both sites together. Those two numbers describe different scopes and should not be added together. Final TSX Venture Exchange acceptance remained outstanding in the announcement.

The operating background behind the project

Rubicon’s second-quarter results, released in August, provide context for the expansion. The company reported net revenue of C$18.5 million, up 23 percent year over year, while adjusted EBITDA fell 18 percent to C$1.1 million. Adjusted EBITDA is the company’s nonstandard earnings measure, not net profit.

Management attributed pressure on profitability to the ramp-up of Cascadia even as revenue grew. It also reported that Pacifica’s per-crop yield metrics had increased approximately 20 percent in the first half of 2026 compared with a year earlier.

Those disclosures show why output and earnings need to be examined separately. A business can sell more while still absorbing the expense of bringing a facility to its intended performance. The lighting investment adds another operational milestone to watch alongside the company’s reported financial results.

The August report put combined capacity at 15,500 kilograms before the planned lighting expansion. That earlier baseline helps clarify the October target: the same figure later describes Pacifica alone, while the combined target rises to 20,000 kilograms.

Why growers pay attention to lighting

There is a research basis for studying how additional light affects cannabis production. A 2022 study in Frontiers in Plant Science tested the THC-dominant cultivar Meridian under different light intensities in an indoor environment. Dry flower weight was higher under the strongest tested photosynthetically active light treatment than under the lowest.

However, the study found no corresponding effect of those intensity treatments on cannabinoid concentrations in the flower. Its ultraviolet treatments also provided no commercially relevant benefit under the tested conditions. More flower and stronger flower were separate questions.

The researchers cautioned that responses vary with genotype and production environment. Their findings explain why light is a serious cultivation variable; they do not independently verify Rubicon’s projected 40 percent increase. A controlled indoor experiment is not a performance test of Pacifica’s greenhouse or its proposed equipment.

The experiment also illustrates why a lighting announcement should identify what success means. In this case, increased dry flower weight did not demonstrate increased flower cannabinoid concentration, even though both measures could matter commercially.

The energy bill belongs in the calculation

A 2021 PLOS ONE study by Utah State University researchers makes another useful distinction. In experiments with medical hemp, the team compared lighting spectra and fixture efficiency. A tested white-and-red LED treatment produced slightly less flower per unit of growing area than a high-pressure sodium treatment, but more flower per dollar of electricity.

The authors concluded that fixture efficacy and upfront cost could matter more to investment returns than spectral distribution at high light levels. Their study also found no effect of spectral quality on CBD or THC concentration under its conditions.

For readers following a greenhouse upgrade, the practical implication is that kilograms alone cannot describe the result. Equipment cost, electricity use and the amount of usable production obtained from that energy all belong in the evaluation. Those research findings are background, not a specification for Rubicon’s project.

For broader demand context, our coverage of Canada’s August retail sales explains why national spending and an individual producer’s performance answer different questions. A market record does not validate a particular expansion forecast.

What will show whether the expansion works

The most useful follow-up will connect construction progress with actual operating results: whether the equipment is installed on time, whether yields improve consistently and whether the additional flower supports sales without eroding margins. Those are checkpoints, rather than outcomes established by the financing.

For cultivators, Rubicon’s plan offers a concrete example of pursuing more output within existing infrastructure. For consumers, the announcement does not guarantee a change in potency, availability or shelf price. The capital has been raised; the production and commercial results still have to follow.

Illustrative stock greenhouse photograph; not Rubicon’s Pacifica facility or a cannabis crop. Photo: Albina White / Pexels.

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Calyx Launches packOS With Label Quotes First and More Tools to Follow

Calyx’s new packOS platform starts with label quoting. Its launch raises practical questions about artwork, production scope and the compliance work that remains with brands.

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An industrial printing machine processing sheets of paper

Calyx has introduced packOS, a packaging procurement platform that begins with a practical task: turning existing artwork into a quote. The October 20 launch brings the company’s cannabis packaging experience into software, with an initial Quick Quote offering and additional approval and order-management tools on its roadmap.

For cannabis brands, the useful question is what can be ordered now. The current product page identifies label quoting as live and flexible packaging as coming soon. That makes the first release more specific than the phrase “operating system” might suggest, particularly for buyers expecting a complete replacement for their existing packaging workflow.

What Calyx announced

In its company release distributed by Cannabis Business Times, Calyx describes a platform intended to move procurement beyond email chains, spreadsheets and manual quotes. It says buyers can upload packaging artwork and compare production options, prices and corresponding lead times.

The release presents Quick Quote as the first major component, with Artwork Approval and Order Management to follow. It also describes artificial intelligence and automation in estimating, artwork preparation and prepress. Those are Calyx’s descriptions of its technology, rather than results from independent testing by Cannabis Aficionado.

The distinction matters when comparing a launch announcement with a purchasing decision. A platform may describe an ambitious direction while delivering a narrower first service. Buyers need a clear understanding of which steps are available today, which require additional coordination and which remain future capabilities.

The current scope starts with labels

The product homepage says users can submit a PDF or Adobe Illustrator file. It describes extracting specifications from that artwork, producing a visual proof and pricing quantities. Labels are listed as available, while pouch quoting is marked as a future addition. Artwork Intelligence and Order Management appear in preview on the current roadmap.

For a buyer preparing a launch, those labels are more useful than assuming everything mentioned in an announcement is fully available. A proof, a quotation and an accepted production order are separate milestones. Establishing which one the platform has delivered helps prevent a team from treating preliminary information as a finished manufacturing commitment.

Printing does not replace compliance review

The cannabis-specific product page covers several label uses, including jars, lids, pre-rolls, boxes and batch information. It also answers an essential question directly: state compliance review stays with the customer’s team and counsel. The software is not presented there as a service that approves labels against state cannabis rules.

That boundary is significant for a brand operating across markets. An artwork file can be ready to print while still needing a jurisdiction-specific review. The company says customers provide approved versions for each state; it also says label orders do not require buying containers from Calyx.

Its described workflow separates preprinted brand and strain information from batch details added by customers using their own thermal printers. That is a production option, not proof that a particular finished label contains every required disclosure. The final artwork and data still need attention before a product reaches a shelf.

Questions to settle before uploading artwork

Packaging files may contain unreleased product names or designs, making information handling part of vendor selection. Calyx’s published security page says files travel over encrypted connections, are held in private storage and can be deleted on request. It describes using submitted files for quotes, proofs and production.

These are the provider’s stated practices, not an independent security assessment. A brand considering the service should compare those commitments with its own approval process and any obligations attached to an unreleased design. A convenient upload workflow does not itself decide who within a business is authorized to share artwork.

Similarly, any sourcing comparison should identify what is included in the quoted job. Quantity, material, finish, delivery expectations and the approved artwork version are practical points to settle before authorizing production. A lower displayed number is only meaningful when the underlying specification matches the buyer’s needs.

The security page also says access links expire and that an unverified internal access check is denied. Buyers can ask the provider how these stated controls apply to their particular project and who can request deletion.

A software launch with a manufacturing context

The consumer-facing side of packaging is visible in 710 Labs’ new Close Friends presentation. The packOS announcement addresses an earlier stage: how packaging teams organize artwork, evaluate options and move toward production.

For now, the clearest takeaway is a new quoting tool with a stated initial scope. Brands can assess the label service on that basis while tracking whether the planned approval and order-management features become available. Adoption, actual time savings and customer outcomes will require evidence beyond the launch announcement.

Illustrative stock printing equipment; not a Calyx facility or packOS demonstration. Photo: Criiv India / Pexels.

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