The Agriculture Improvement Act of 2018 (2018 Farm Bill) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (CSA) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (USDA) regulatory authority over hemp
In my ten years of advising and guiding cannabis companies from a corporate, transactional, and M&A perspective, and especially since 2012 (when Washington and Colorado legalized), every cannabis market in which I’ve worked has experienced a period of extensive business failures, consolidations, and market stress. And it’s that time now for California cannabis (and that
Even though COVID-19 continues to wreak havoc on the world and the U.S. economy, we continue to work on interesting and complex business deals with our cannabis clients with many clients either looking to acquire or be acquired as the industry matures and inevitable consolidation occurs. And because many deals continue to have a Delaware
The Agriculture Improvement Act of 2018 (2018 Farm Bill) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (CSA) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (USDA) regulatory authority over hemp
Unfortunately, in times of crisis and hardship there will always be companies attempting to take advantage of people, playing off of fear and desperation. Earlier this month, the FDA sent out a round of warning letters to companies that were selling fraudulent COVID-19 products. We’ve written extensively about what CBD companies should not do if
Coronavirus has been great for cannabis sales. In most states with approved cannabis programs, both medical and adult use marijuana sales have been designated “essential services” by state and local governments. With this support, the supply chain has weathered the COVID-19 pandemic better than many industries. Still, the pandemic continues unabated and cannabis businesses are
The Agriculture Improvement Act of 2018 (2018 Farm Bill) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (CSA) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (USDA) regulatory authority over hemp
The enactment of the 2018 Farm Bill and the legalization of hemp and hemp derivatives, including cannabidiol (“CBD”), has led to a massive CBD craze in the United States. The highly coveted cannabinoid is infused with everything: bath bombs, dog treats and even workout clothes (yes, workout clothes!). According to a recent study by Cowen, the
Last year, the European Union reclassified extracts of Cannabis sativa L. and derived products containing cannabinoids, including CBD, as a “Novel Food” under the EU Novel Food Catalogue. The reclassification was based on the lack of demonstrated history of human consumption of these extracts and of any product to which they might be added. Indeed,
We were pushing hard for this. On March 21, the California Bureau of Cannabis Control sent the following email notifying cannabis licensees that they may continue operating despite the state’s lockdown order: On Thursday, March 19, 2020 Governor Gavin Newsom issued a stay at home order to protect the health and well-being of all Californians
