“It is very challenging to the say the least,” Barsoom said. Despite the lawsuit’s resolution, it is still unclear when those 24 license winners will be announced. The suit was finally decided in favor of the NJ Department of Health last month.
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It has been held up because of a lawsuit where applicants claim the process was biased in favor of certain applicants. Those licenses have been delayed for 15 months from the announcement after a rushed period of about two months in summer 2019 to apply. “We’re waiting to hear on outcome of license outcoming,” he said. Positioning themselves in New Jersey Cannabisīarsoom said they are trying to expand into Oklahoma as they sell products in Illinois, Massachusetts, Maryland, and hopefully New Jersey soon.
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“Gone are the days of waiting 60-120 minutes for an edible to kick in with no control of the experience,” 1906 Chief of Policy Jackie Cornell said.Ĭornell said 1906 will have an edge in the New Jersey market since their products are low-dose, high-return, and fast-acting, unlike most edibles which are the high-dose and slowing acting. “Chill” for example would be their best product to cope with anxiety. Thus, they created different low-dose edibles to specifically address anxiety, sleep, as an aphrodisiac to connect with partners, and depression. “Our theory is that most people are using cannabis not for getting high, but to feel a particular way.” “You need something fall asleep or take edge off after a long day,” he said. “Our mission is to revolutionize self-care one edible at a time,” Barsoom said.īarsoom’s goal is to bring cannabis back to its pre-prohibition status when it was widely used as a plant medicine available through apothecaries or pharmacies and doctors believed it to be a legitimate treatment. The name of the company comes from the Wiley Act of 1906 which began the unfortunate road to prohibition. He noted that the experiment has gone well. No one had done it before There was a lot of concerns,” Barsoom said. “When Colorado started in 2014 it was an experiment. Of the two states, Colorado made the most sense to move to since Barsoom believed it had the best regulatory system and attracted more tourists. While now based in Denver he hadn’t been to Colorado or Washington before cannabis was legalized. Prior to that he was living in New York City. Thus, he moved to Colorado in 2015 to create 1906. Barsoom decided in 2014 to pursue entrepreneurial opportunities.īarsoom said regarding cannabis “It is one of the most versatile medicines known to man and people should have wide safe access to it.” Prior to entering the industry, he worked in finance on Wall Street for 10 years in a variety of senior roles in capital markets.
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“I wanted a controlled dose, non-smokable way to consume cannabis which was the impetus behind 1906,” Barsoom said. He then met his wife, who used cannabis.īarsoom found that low doses, achieved by combining cannabis in a spliff, reduces THC’s potency and found 1:1THC CBD strains were the best for him. Barsoom said he used cannabis in college but stopped when he found certain strains or cultivars made him too paranoid. He grew up in East Brunswick, NJ, in Middlesex County until he left for college. By Dan Ulloa cannabis dispensary, cannabis industry, medical cannabis dispensary, MSOs, multi-state operator, NJ CannabisĬannabis company 1906 CEO Peter Barsoom sees many opportunities in his home state of New Jersey in the cannabis industry as licenses become available.