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).
One of the most important decisions a new cannabis business can make is the form of entity it will use. In fact, one of the first questions businesses ask is whether the right entity for a cannabis business is a limited liability company (LLC), corporation, or something else. Like basically every other legal analysis, the
Real estate is on the forefront of many people's minds with New York on the doorstep of adult-use cannabis applications. And for good reason: owning or controlling real estate will be a requirement for applicants (with some soon-to-be caveats for social equity applicants). We have fielded lots of calls from prospective adult-use cannabis applicants starting
One of the most common commercial cannabis lease structures is what is commonly referred to as a "triple net" or "NNN" lease. Triple net cannabis leases allow landlords to pass on nearly all operational costs associated with a property to a tenant, which can be a big benefit for both landlords and tenants. Today, I'll
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.
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
Some readers may be surprised to realize that a lot of cannabis stakeholders actually don't want broadsweeping federal legalization. Why? Because they know it means that they'll instantly be competing with well-established companies that are already masters of economies of scale, branding, marketing, and consumer sales, and their market share will shrink or be eliminated
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
In my last post in this series, I ran through a detailed list of some of the more common conditions to closing you'll see in the run-of-the-mill cannabis business purchase. Today, I want to do something similar, but instead with representations and warranties. In M&A contracts, the parties make various legal promises. Promises to do
On September 8, 2021, the California Department of Cannabis Control (DCC) published proposed emergency cannabis regulations. These emergency regulations harmonize the previous regulations that were ported over from the prior three agencies into one combined set, and they modify some of those rules and add also new ones. The DCC also published a revised set
