Psychedelic wellness brand Delic Holdings Inc. DELCF Co-Founder Matt Stang has seen the legal and cultural shifts on cannabis and psychedelics up close — sometimes too close for comfort.
Stang is a cannabis advocate emboldened by his own experiences with the system, doing his part to advance the acceptance of both cannabis and psychedelics as legitimate medical options.
A Run-In With The Law
Stang has always been a supporter of plant medicines and the abolition of the drug war.
"It's a war on our freedom, on our ability to make our own informed decisions," he stated.
That belief was only heightened in the years spent at High Times. During his 17 years with the company, Stang served in various roles, concluding as chief revenue officer in December 2019.
In 2010, he was part of a 45-person federal sting that included Roc-a-Fella Records Co-Founder Kareem Burke.
Feds alleged that the group was part of a Florida-to-New York cannabis smuggling operation — with Stang implicated as the pot provider to Geovanny "Manny" Rodriguez Perez, the head of the ring.
In the end, Stang agreed to pay a fine without facing any prison time.
While avoiding jail, Stang recalled how he was equipped with an ankle bracelet during his trial, leaving him stuck in New York operating High Times' acclaimed Cannabis Cup events held in other states.
The experience emboldened Stang's desire to change the laws.
"It creates a horrible imbalance in our country, and I think people are finally waking up to it," he explained.
Adding Capitalism To The Effort
Stang launched Delic with his wife, Jackee, two and a half years ago.
He considers the psychedelic wellness venture the next step in his career after spending nearly 20 years at High Times.
He's learned in cannabis and psychedelics that capitalism can help erode stigmas — namely when funding can help fuel job creation and businesses' formation.
The thought of capitalism touching communal-centric markets like psychedelics and cannabis may scare advocates. Still, Stang argues the addition helps further the movements and their legitimacy in the public space.
When the funding and jobs are present, he says the substances go from what he calls "an abstract boogeyman" and instead "starts becoming a real part of our community."
Pandemic Furthers Public Shift For Psychedelics And Cannabis
Stang recalls being asked if he was on drugs a few years back when he'd state that one of the most significant mental health crises was underway.
He continues to make the claim, but the COVID-19 pandemic has quieted much of the previous detractors. Instead, many are now embracing psychedelics and cannabis as ways to cope with the ongoing effects of the shutdown — evidenced by the essential status bestowed upon cannabi businesses in several states.
Data from the Substance Abuse and Mental Health Services Administration (SAMHSA) show that psychedelic use is rising.
SAMHSA's September report stated that 2.2%, or 6 million people, used a hallucinogen during the previous year.
"That's just a small fraction of the folks who need it," said Stang. Creating safe and legal access is essential to advancing psychedelic treatment, he adds.
Recent efforts to further the message and patient access include early February's entering into a binding agreement to purchase Ketamine
Infusion Centers LLC, which operates two clinics in Phoenix, Arizona and Bakersfield, California.
In March, the company announced the acquisition of Homestead, a legacy psychedelic media outlet known for creating one of the first self-contained psilocybin cultivation kits.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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