Arshad Lasi, CEO at The Nirvana Group – Interview Series

“Oklahoma has always been very accessible for start-ups and aspiring entrepreneurs, and regulations that are too overreaching can lead to people resorting to the unlicensed market, for which proper safety and quality standards aren’t always in place.”

Arshad Lasi

Much has been said about the medical cannabis market in Oklahoma. Just barely 3 years into legalization and the “red-state” already boasts of having the highest number of medical cannabis patients per capita. Some believe that Oklahoma has been too liberal in handing out licenses to cannabis businesses and patients. To date, the state has issued about 12,000 licenses to cannabis businesses. As a result, dispensaries which are as common and visible as gas stations have become “an eyesore.”

Having earned the moniker “the wild west of weed,” Oklahoma, for some, is now considered a good example of “how not to roll out a medical cannabis program.”  However, Arshad Lasi strongly disputes that the medical cannabis in Oklahoma is “a market-gone-rogue.”

At age 22, Arshad became the CEO of Nirvana Group which is a leading cannabis brand in Okalhoma. Arshad has succeeded in growing Nirvana from a small smoke accessory shop to a reputable cannabis brand with a commercial grow, an extraction facility, and several state-of-the-art dispensaries in Oklahoma.

In this interview, Arshad narrates to us how he found himself in the cannabis industry and what it has taken to get Nirvana to where it is today. He also gives us an insider view of Oklahoma’s green rush.

As an intro, how did your career path lead you to the cannabis industry especially at such a tender age?

It started with a cold e-mail from a brokerage firm in Michigan selling properties for cannabis retail while I was working in marketing. While we didn’t move ahead with that specific opportunity, it sparked an interest in my family and I, who are entrepreneurs and business owners, to explore licensed cannabis markets in other states. When we researched the potential of the Oklahoma medicinal market, it felt like a no-brainer choice and also a bit of fate and kismet. My family and I already had businesses in Oklahoma, and what started as a humble smoke shop founded by my parents has now blossomed into a rapidly growing vertically integrated company, The Nirvana Group.

You are the CEO of Nirvana which is a leading brand in the medical cannabis space in Oklahoma. What does your typical day look like and which is the most stressful aspect of your role?

In a constantly evolving industry like cannabis, a typical day is atypical. I frequently collaborate with our partners and am constantly looking for new ways to continually improve services provided. I’m privileged to work with a diverse team with different strengths and weaknesses and I’ve learned the importance of embracing those personal connections to grow The Nirvana Group to new heights.

It can be stressful to manage the expectations of so many different people while navigating this rapidly changing landscape of the cannabis game, but the opportunities created by change are nearly endless and having a team of dedicated people ready to capitalize on those opportunities is extremely rewarding.

Much has been said about the cannabis market in Oklahoma which has been left to self-regulate. Do you think that this is a market-gone-rogue?

I don’t believe the market has gone rogue. That being said, groups like the Oklahoma Medical Marijuana Authority (OMMA) must prioritize eradicating activity within the illicit market to ensure consumers have access only to top quality and safe products. Additionally, over-regulation from bodies of government who may not understand the industry or the plant itself are shaping the direction of the industry as a whole, and may hinder necessary growth for medical and economic benefits, which is also concerning.

Oklahoma has always been very accessible for start-ups and aspiring entrepreneurs, and regulations that are too overreaching can lead to people resorting to the unlicensed market, for which proper safety and quality standards aren’t always in place. As the Oklahoma cannabis industry booms, it is important that the OMMA scales with it and works together with legal businesses to ensure the affordable and safe product for all.

Up to 12,000 licenses have been issued to cannabis businesses in Oklahoma. Even with a large potential customer base, the competition must be stiff. As a cannabis business operating in Oklahoma, what can you say about Oklahoma’s green rush?

The current business climate in Oklahoma is one of opportunity and equal access. It is relatively inexpensive to obtain a cannabis business license compared to that of most legal states. Is there a risk of oversaturation and therefore too much competition? Yes, and it’s important to create regulations that will prevent that, but there are a host of benefits that come with expanding access to the industry.

Even with a license you still need a fair amount of capital to launch, but the overall lower cost of getting started is made even easier by more affordable real estate than other parts of the country, opening up the opportunity to build larger facilities for cultivation, storage, manufacturing and distribution, as well as storefronts for dispensaries. This creates opportunities for first timers to get into the game, and may also benefit marginalized communities. Assisting these communities is a cornerstone of the legalization process and Oklahoma’s regulations are assisting in promoting inclusivity and widespread participation.

Are there measures that can be put in place to regulate the cannabis market in Oklahoma at this point?

Decisions that impact Oklahoma’s cannabis industry, such as vendor selection and regulatory costs, shouldn’t be decided in a bubble. There needs to be more frequent and efficient communication between regulators and the operators on the ground and in the trenches who manage all the intricacies of the industry on a daily basis.

Together, we need to focus on raising the standards for the licensed cannabis industry in Oklahoma. We recently took a positive step forward in that direction through the statewide adoption of a universal seed-to-sale tracking system, Metrc, following a new agreement between medical marijuana commercial licensees (who previously filed a lawsuit related to costs that would be incurred by implementing the system) and co-defendants, the Oklahoma Medical Marijuana Authority and Metrc. It’s an encouraging compromise, as seed to sale tracking and tracing is crucial for the Oklahoma cannabis industry to truly succeed, sustain and set the stage for adult-use legalization to be greenlit

What can other states learn from Oklahoma’s medical cannabis program?

I will say that we as a licensed industry need to advocate for ourselves and call for regulations that don’t oversaturate the market, but rather create better opportunities for new and existing businesses to operate legally and offer safe, properly tested products for consumers. I don’t believe there should be a list of qualifying conditions that exclude people from benefiting from Cannabis, and in Oklahoma there is not. Another benefit for patients in Oklahoma is that they can smoke or vape anywhere that tobacco can legally be consumed, expanding their access to treatment when they need it.

It’s a fairly simple process for Oklahoma residents and out of state MMJ cardholders to be approved for a medical cannabis card, and doctors have free range to recommend medical cannabis to any and all patients they believe could be helped by it, and that’s the way it should be.

What is the likely aftermath of Oklahoma’s green rush?

Cannabis is becoming part of Oklahoma culture and in 3 years we have seen a huge shift in a positive direction for cannabis overall. Oklahoma has the most medical cannabis patients per capita of any state in the country and has more than 2,000 dispensaries, which is also more than any other in the United States. The medical market has boomed since voters enthusiastically approved our new medical program, and Oklahoma medical cannabis product sales were over $800 million in 2020, more than doubling the state’s sales total from 2019 despite challenges posed by the COVID-19 pandemic. These stats all point towards a growing sentiment of consumers embracing the cannabis industry.

What’s next for The Nirvana Group?

I have seen the benefits of choosing great partnerships that have grown and transformed with us since the inception of The Nirvana Group, and we will continue to improve and grow our operation to meet the demands of our clients and consumers. We’re excited to work with partners at this pivotal time for the Oklahoma market and look forward to offering tailored access to an array of cutting-edge products that have never been seen before. We’re committed to research, development and distribution with the best brands in Oklahoma and to being a one-stop-shop for progressive industry leaders.

Founded, owned, and operated by the Lasi family, The Nirvana Group has blossomed into one of the largest and most rapidly growing vertically integrated cannabis companies in Oklahoma. Their operations include a 30-acre cultivation and extraction facility, Eden Cannabis Farms Inc.; Providence Ventures Inc., a 3,000 square foot processing facility featuring extraction and distillation capabilities, as well as a commercial kitchen to produce beverages and edibles.

It was a great pleasure to have this one-on-one with Arshad Lasi, CEO of Nirvana Group. Readers who wish to keep up with how Nirvana Group is transforming the industry are welcome to visit their website.