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Hitting The Jackpot

“Before I became Chief in 1979, Indians of the United States, including the Seminoles, were having a lot of financial difficulties,” Chief Billie said. “One day, somebody came to me about doing bingo on a reservation. The game was regulated in the state of Florida, but we could play it according to our own rules, with higher stakes.”

The story of how lucrative bingo, and gambling in general, became for Indian tribes is pretty well known. What’s important to understand is that “the key element was sovereignty,” the possibility to create their own regulatory framework, Chief Billie explained, alluding to the tax-free environment in which these businesses operate. Now that Florida has legalized medical marijuana, Native Americans can once again leverage their sovereignty to gain an edge over other players in the industry.

“I think this is going to be bigger than bingo,” Chief Billie said. In states were cannabis is legal, tribes can get a new economic influx. This is where the new partnership between MCW and Electrum comes in.

The success Chief Billie has had in his business career and the respect he enjoys among Native American Nations are unprecedented.

"He is a living legend," Electrum President Leslie Bocskor told Benzinga. "Just like Chief Billie changed the bingo and casinos industries forever, we see an opportunity now for this to be a game-changer for the cannabis industry."

Bocskor continued, "Chief Billie and I agree that this has to be done to the highest standards, even exceeding the standards of the states where the tribes reside. This will sow the field, so to speak, to prepare for this industry covering many different areas like industrial hemp cultivation and R&D partnerships.”

The Partnership

What exactly will this partnership do?

This alliance was conceived to create a financing and advisory team for cannabis entrepreneurs in Indian Country. The idea is to leverage Chief Billie’s and MCW’s tribal relationships, and Electrum Partners’ understanding of the cannabis industry, while taking advantage of the tax-free environment provided by Native American reservations.

“Right now we are interviewing and auditing the potential partners and investors," Bocskor said. "We had a tremendous amount of interest, so we want to make sure to establish the right partnerships and the right investors participate.” Bocskor mentioned he's been approached by some of the companies he works with including GB Sciences Inc (OTC: GBLX), Solis Tek Inc (OTC: SLTK), Kush Bottles Inc (OTC: KSHB), Grow Solutions Holdings Inc (OTC: GRSO) and Terra Tech Corp (OTC: TRTC).

“The next step will be locating the Native American partners we want to work with.”