A couple of months ago, my colleague Vince Sliwoski wrote Oregon Cannabis Dispensary Sales: What We Are Seeing on Valuation, which focused on the secondary market for cannabis licenses and businesses. Vince explained that the retail market, i.e. the purchase and sale of dispensaries, is still mostly done on multiples of revenue. But what is
As we recently wrote, 2020 was a remarkable year for the Oregon cannabis industry for several reasons including COVID-19 and raging wildfires. This post follows up on the “State of the State” and is a sister post to our California Cannabis: What to Watch for in 2021. OLCC Enforcement: Although the OLCC began to shift
Here we are at the end of 2020 (thank goodness!), which means it’s time for the fifth annual “State of the State” post on Oregon cannabis. The year 2020 was remarkable for the Oregon cannabis industry, mostly due to COVID and its effects, including record sales on the THC side. But there were also key
The Agriculture Improvement Act of 2018 (2018 Farm Bill) removed hemp and its derivatives from the definition of marijuana under the Controlled Substances Act (CSA) and provided a detailed framework for the cultivation of hemp. The 2018 Farm Bill also gave the US Department of Agriculture (USDA) regulatory authority over hemp cultivation at the federal
Between COVID-19 and the wildfires it has been quite a year for Oregon cannabis. One the one hand, sales were up significantly through mid-summer, on the other hand, many growers, especially in southern Oregon and Lane County were significantly adversely affected by the wildfires that consumed much of the State. As we wrote about in
We love our clients. From mom-and-pop shops to multinational corporations, most of them run solid operations and behave themselves pretty well. But when you have hundreds of clients and thousands of transactions over many years in the cannabis industry, you see some crazy things. This list covers crazy things have happened in Oregon. This is
The maturation of the Oregon cannabis industry in the past few years has been accompanied by a tremendous increase in mergers and acquisitions and a flood of investment capital into the marketplace. Not surprisingly our commercial litigators have seen a marked increase in the number of securities lawsuits both here in Oregon and elsewhere. As
Last month, along with streamlined licensing, the Oregon Liquor Control Commission (OLCC) announced a significant (and welcome) change to its compliance function by instituting a new Verification of Compliance program (VOC) that will focus on education rather than penalties for certain types of marijuana rule violations. The VOC launched in early October and arose from
The Oregon secondary market for cannabis licenses and businesses remains lively. We have been helping industry buy and sell these businesses since 2016. This post is mostly about pricing for retail plays, which is still an evolving standard, but a standard nonetheless. First, some context. Over the past few years, there have been two significant
We are on record here at the law firm in support of Measure 109. We have friends and colleagues who have worked on the campaign and clients who have written checks, large and small. Legal psilocybin in Oregon? We like the sound of that. But do we unconditionally and unapologetically love the ballot measure? No,
