They Said It On Marijuana, Quotable Saturday, Part CLXVI
What can one even say in response to something like this? We leave that to you and we encourage your comments below.
BREAKING NEWS: California Passes SB 94 Regulating Medicinal and Adult Use Cannabis
The California Legislature today passed Senate Bill 94, which effectively repeals the Medical Cannabis Regulation and Safety Act (“MCRSA”) and incorporates certain provisions of the MCRSA in the licensing provisions of the Control, Regulate, and Tax Adult Use of Marijuana Act (“AUMA” aka Proposition 64). As we’ve covered extensively, draft rules for the MCRSA dropped
Oregon Cannabis Company Acquisitions
We have begun to see an increase in consolidation throughout the Oregon marijuana industry. Large companies from other states are moving in, and Oregon companies are buying each other’s assets or stock and integrating to form verticals. In business parlance, we have entered the scaling portion of the inevitable consolidation curve. Cannabis Company Acquisition Generally
They Said It On Marijuana, Quotable Saturday, Part CLXII
Of course Jesse Ventura is right. Cannabis is both an invaluable resource medicinally and a boost for the economy. Cannabis generates huge tax revenue (which will only continue to increase), and creates a vast number of jobs. It has been projected that by 2020, the cannabis industry will have created a quarter of a million jobs, and
BREAKING NEWS: City of Los Angeles Releases Draft Regulations for Marijuana Businesses
The long-awaited proposed regulations under Proposition M for L.A.’s current and future medical (and recreational) marijuana operators are finally out. The 51 pages of initial regulations (that are now in a 60-day public comment period) cover the governance of cultivators, manufacturers, distributors, testing facilities, transporters, retailers, and microbusinesses in significant detail under Proposition M. If you
Jury Nullification Is a Real Thing and You Should Know About It
We are business and corporate lawyers, not criminal lawyers. This means we know enough about the law to tell someone when he or she may need criminal defense services, but we do not provide those services. Still, the specter of federal criminal charges is ever-present in the cannabis industry. When cannabis clients ask us about
California Cannabis NIMBYs and Land Use Disputes
California is in the process of transitioning from its gray market of medical cannabis collectives to a full-blown, heavily regulated regime under the Medical Cannabis Regulation and Safety Act (“MCRSA“). At the end of April, California dropped more than 200 pages of regulation for retailers, distributors, transporters, manufacturers, and cultivators, and it’s now taking public comment on the initial
Cannabis Startups 101: Securities Compliance
Like tech startups, or any new business, cannabis startups need investment. Though most tech startups are organized as corporations, with the ultimate goal of acquisition or IPO, cannabis businesses are more often (but not always) organized as LLCs. But cannabis startups too often fail to realize that if they are seeking investors, they are probably
Does your Marijuana Business need a Mission Statement?
Last week, I spoke at a legal education event on advising corporate and officers and directors. It wasn’t a cannabis-specific event, so there were speakers with various backgrounds. One interesting commonality that a few of the speakers discussed was the value of corporate mission statements, both in the for-profit and non-profit worlds. I don’t know
California Cannabis Cultivation Licensing Rules
The Medical Cannabis Regulation and Safety Act (“MCRSA”) left us with many questions regarding how cannabis cultivation would be regulated. But now that the California Department of Food and Agriculture (“DFA”), through its CalCannabis Cultivation Licensing division, dropped 58 pages of proposed regulations for the Medical Cannabis Cultivation Program we have plenty of answers. Though these