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
In a prior post, we discussed some of the emerging trends for cannabis-related companies that seek bankruptcy protection (click here to view the prior post). But, in the first instance, the question is whether a cannabis-related company can file for bankruptcy relief? This post will examine the first decision from Arizona in the case of
Certain states are better than others when it comes to lucrative ketamine ventures. Whether you’re a physician looking to open a clinic in the space, or if you’re a third party lay person or entity looking to fund or manage such a practice, you need to be on the look-out for states with strict corporate
In my last post in this series, I discussed how the purchase price is structured in cannabis M&A transactions, and how escrow can be used in connection with the purchase price. Today, I want to discuss how adjustments are commonly made to the purchase price, both during the pre-closing period (between signing and closing), and
Nationwide, cannabis companies and advocates are hailing the Cannabis Administration and Opportunity Act as the savior of the future of cannabis (a copy of the bill is here). If the Act passes, we will finally have federal legalization and the consequences of the current federal conflict will end, or, at least be reversed in the
For the past year, my colleagues and I have written extensively on the murky legality of Delta-8 tetrahydrocannabinol (THC). We have covered everything from the Drug Enforcement Administration (DEA)’s position on “synthetically derived THC” to the growing number of state bans. You can read more on these issues here: R.I.P Delta-8 THC DEA Interim Final
For years and years, our cannabis lawyers have assisted with due diligence on all kinds of cannabis transactions from sole proprietorships to public companies. So that means we are intimately familiar with the mechanics of how the due diligence process works on a series of different transactions, and that we have seen all kinds of
The Arizona Department of Health Services (the “Department”), which is the cannabis regulatory authority in Arizona, released the draft regulations for the Social Equity Opportunity Program (“SEOP”). Click here to view the draft regulations. Under the SEOP, Arizona will issue another 26 licenses. As set forth in the Arizona Revised Statutes (“A.R.S.”), the SEOP regulations
Back in 2015, when I was a regular columnist for Above The Law, I wrote a piece called “Cannabis Advertising: Is Pot Obscene?“. That article focused on general speech issues around cannabis ads. We’ve also written over the years about how various social media platforms broadly prohibit pretty much any speech with the word “marijuana”
Virtually any time that there are transactions involving cannabis company mergers, cannabis company acquisitions, or cannabis real estate sales, and in many cases involving the sale of assets of a cannabis company, the parties are likely to encounter a concept called “closing” in their purchase agreements. Closing isn’t necessarily unique to purchase and sale situations
