In November 2012, Washington voters approved the production, processing, and retail sales of recreational cannabis within Washington state under what is known as Initiative 502 (“I-502”). Washington state then provided a regulatory framework for how the legalization of recreational cannabis production, processing, and retail sales would be regulated under what would become the Washington State
Our cannabis team has performed due diligence on countless business purchases, investments, loans, and just about every other kind of transaction you can imagine. As you can imagine, we’ve seen some pretty bad and even sketchy things over the years. With rescheduling on the horizon (see here and here), we expect to see an increase in loans, investments,
In the ever-evolving landscape of the cannabis industry, the use of non-disclosure agreements (NDAs) is becoming more prevalent as the demand for difficult to grow exotic strains increases and more brands and businesses flood the market. Previously we have blogged about the importance of NDAs to safeguard confidential business information. Cannabis businesses should continue to
Cannabis companies are often unclear about what edible products are legal to manufacture and distribute. While some cannabis edibles may be legal on a state level, federal regulations prohibit placing some cannabinoids in food altogether. This legal landscape is often confusing for cannabis edibles manufactures, who see their products as a natural expansion of cannabis
As states slowly but inevitably continue to legalize cannabis medically or recreationally, we often need to be reminded that cannabis is still illegal on the federal level. Due to this widespread, ineffective prohibition, the cannabis industry and its many operators must follow a very extensive and strict set of parameters to ensure that they remain
California’s cannabis taxes are a disaster, with no end in sight. I’ve written about the state’s tax problems extensively, but today I want to talk about what the state can do when it comes to tax collection. Late cannabis taxes? Get used to hefty penalties If a licensed cannabis business fails to timely or fully
Register Here Reminder! We are all set for our latest cannabis business webinar, tomorrow, February 28th, focused on “Cannabis Loans and Investments”. In 2024, a constellation of factors makes things very interesting for both cannabis industry investors and businesses: More states are open for business and investment than ever before In the macroeconomic environment, interest
Mississippi’s Initiative 65 Easily one of the biggest legislative surprises of the 2020 was the passing of Mississippi’s Initiative 65, a medical cannabis bill with an extensive qualifying conditions list. In arguably the reddest and most socially conservative state in America — where only one Democrat has served as Governor since 1992, and where Republicans
Australia is said to have one of the highest cannabis prevalence rates in the world and public attitudes to its use are shifting. North American, European and other cannabis companies looking for investment opportunities would do well to follow these shifts. Growing cannabis for medicinal and scientific purposes was legalized under federal law in 2016.
California has a population of nearly 40 million, six years of cannabis licensing, but only has about 1,200 licensed dispensaries. These stores are mostly spread out in highly populated areas like Los Angeles, San Francisco, and so on. The problem is that many California cities still prohibit cannabis licensing, even in places where a majority
