I’ve been writing about the Chalice receivership process since late May, when Chalice Brands Ltd. (OTCMKTS: CHALF) filed an Oregon Circuit Court complaint. In that Oregon lawsuit, Chalice brought claims against five local subsidiaries to drive them into receivership, claiming some $35 million owed. The lawsuit was orchestrated with a parallel Canadian proceeding. Up north,
We’ve recently received a number of inquiries about whether it is legal to import marijuana seeds into the United States. These are seeds derived from marijuana plants that have a THC content less than 0.3%, but when planted will germinate into marijuana plants that have a THC content more than 0.3%. The seeds themselves have
In an era of Theranos, Fyre Fest, FTX and WeWork, cannabis scams, frauds, and scandals probably pale in comparison. However, cannabis scams (and their evolution) are still worth noting, spotting, and avoiding at all costs. I’ve written about cannabis scams in the past (see here), and it’s one of my favorite topics given the still-emerging
On February 28th, we put on a webinar on “Distressed Cannabis Businesses” webinar. In that webinar, Griffen, Ethan, and Vince discussed the current financial and economic pressure the entire cannabis industry is facing today. We covered reorganization, litigation, dissolution, M&A, receivership, secured interests, and liquidation. And we of course discussed how state-by-state cannabis regulations impacts all
We have been helping people buy and sell Oregon cannabis businesses since the early days of the adult use market. Most of these sales are relatively simple asset purchase agreements—including many for naked licenses—but some have been stock sales. Others have taken place amid administrative enforcement action by the Oregon Liquor and Cannabis Commission (OLCC).
Services agreements are a problem in the Oregon cannabis industry. These agreements have been around since at least 2016, when our office and at least one other law firm developed early templates in consultation with the Oregon Liquor and Cannabis Commission (“OLCC”). That form was called a “management agreement” and you will see them referred
From startups to multi-state operators, most cannabis businesses will engage legal counsel at some point. All of these companies – but especially smaller ones or less experienced ones – need to grapple with the question of what the role of a lawyer in cannabis deals will be. This can be a difficult question to answer.
Lately I have been spending a lot of time engaging with clients who are dealing with cannabis investors. I work with companies and investors. Between public and private cannabis companies, the suite of investors runs the gamut from friends and family to key employees, executives, and board members with equity and synthetic equity grants, to
I often write about various discrete aspects of cannabis M&A transactions. A full list of my posts, along with other Canna Law Blog contributors’ posts, is linked at the bottom of this post. Today, rather than looking at individual elements of a cannabis M&A transaction, I want to walk through what a transaction looks like
My last post in this series, which ran a few weeks ago, went over some of the more common representations and warranties you’d see in the average cannabis M&A transaction. In that post, I briefly mentioned disclosure schedules, which are an integral part of a purchase agreement and its reps and warranties. Today, I’ll get
