Canna Law Blog, Autor en Harris Sliwoski LLP Mercados difíciles, abogados audaces Thu, 21 Mar 2024 22:49:13 +0000 es-US por hora 1 https://wordpress.org/?v=6.4.3 https://harris-sliwoski.com/wp-content/uploads/cropped-Harris-Sliwoski-Logo-FinalIcon-White-1-32x32.png Canna Law Blog, Autor en Harris Sliwoski LLP 32 32 Webinar GRATUITO: Cómo comprar o vender un negocio de cannabis | 17 de abril https://harris-sliwoski.com/cannalawblog/free-webinar-how-to-buy-or-sell-a-cannabis-business-april-17th/ Fri, 22 Mar 2024 14:00:42 +0000 https://harris-sliwoski.com/?post_type=cannalawblog&p=135402 Register Here On Wednesday, April 17, 2024 at 12:00 pacific time, Harris Sliwoski managing partner Vince Sliwoski (Portland), Harris Sliwoski partner Griffen Thorne (Los Angeles), and Andy Shelley of CannXperts will present a free webinar entitled “How to Buy or Sell a Cannabis Business.” Drawing on their extensive experience from representing businesses and entrepreneurs through

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Register Here

On Wednesday, April 17, 2024 at 12:00 pacific time, Harris Sliwoski managing partner Vince Sliwoski (Portland), Harris Sliwoski partner Griffen Thorne (Los Angeles), and Andy Shelley of CannXperts will present a free webinar entitled “How to Buy or Sell a Cannabis Business.”

Drawing on their extensive experience from representing businesses and entrepreneurs through numerous M&A transactions, including crucial state license transfers throughout the United States, our panelists will share insights and practical wisdom from their firsthand experiences in the legal cannabis industry.

  • Crafting and understanding Letters of Intent
  • Understanding the advantages and disadvantages of Asset Sales v. Business Sales
  • Conducting thorough Due Diligence
  • Drafting and Negotiating purchase agreements and ancillary documents
  • Navigating State-Specific Regulatory Concerns
  • Managing Escrow Challenges
  • Optimizing Financial Arrangements: Purchase Prices, Holdbacks, Earnouts
  • Tackling Post-Closing Considerations

As always, we’ll also take Q&A, so please feel free to either submit questions when registering or you will be able to ask comments in chat during the webinar.

Register Here

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Préstamos e inversiones en cannabis | La repetición del seminario web  https://harris-sliwoski.com/cannalawblog/cannabis-loans-and-investments-the-webinar-replay/ Tue, 19 Mar 2024 14:00:03 +0000 https://harris-sliwoski.com/?post_type=cannalawblog&p=135338 If you missed our February 2024 “Cannabis Loans and Investments” Webinar, we have published a full recording and transcript here. Harris Sliwoski partners Vince Sliwoski, Griffen Thorne, and Aaron Pelley focused on a constellation of important factors for both cannabis industry investors and businesses in 2024: What the increase in open state markets means for

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If you missed our February 2024 “Cannabis Loans and Investments” Webinar, we have published a full recording and transcript here.

Harris Sliwoski partners Vince Sliwoski, Griffen Thorne, and Aaron Pelley focused on a constellation of important factors for both cannabis industry investors and businesses in 2024:

  • What the increase in open state markets means for business and investments today;
  • Current high interest rates and downward projections in the macroeconomic environment;
  • Potential impacts of the proposed re-scheduling of marijuana to Schedule III for struggling cannabis businesses, potentially increasing margins;
  • The intricacies of the cannabis financial landscape;
  • Risk management, navigating lending complexities, and capitalizing on investment opportunities;
  • Regulatory challenges and navigating the cannabis industry with secure financial strategies.

Enjoy!

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Mañana Webinar GRATUITO: Préstamos e inversiones en cannabis https://harris-sliwoski.com/cannalawblog/free-webinar-tomorrow-cannabis-loans-and-investments/ mar, 27 feb 2024 15:00:04 +0000 https://harris-sliwoski.com/?post_type=cannalawblog&p=135039 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

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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 rates are high (especially compared to a few years back), but rates are projected to come down again
  • Many cannabis businesses are struggling, but marijuana may move to Schedule III at some point this year, increasing margins

Whether you’re an investor eyeing favorable debt or equity terms, or a cannabis entrepreneur seeking to secure finance, this webinar has you covered. Equip yourself with financial insights that can help you stride confidently in this ever-evolving industry.

Topics of focus:

  • The intricacies of the cannabis financial landscape
  • Risk management
  • Navigating lending complexities
  • Capitalizing on investment opportunities
  • Potential impacts of the proposed re-scheduling of marijuana

We’ll also tackle some of the pressing issues such as regulatory challenges and how to navigate the cannabis industry with secure financial strategies.

Don’t miss out: this is your step towards becoming a well-informed player in the world of cannabis loans and investments.

Register Here

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Cannabis internacional: Adams Lee y Vince Sliwoski en el podcast de Simply Trade https://harris-sliwoski.com/cannalawblog/international-cannabis-adams-lee-vince-sliwoski-on-the-simply-trade-podcast/ Fri, 02 Feb 2024 15:00:15 +0000 https://harris-sliwoski.com/?post_type=cannalawblog&p=134618 Two of our international cannabis lawyers, Vince Sliwoski (business) and Adams Lee (international trade), recently joined the Simply Trade podcast for a lively discussion on the international cannabis trade. You can hear that free-ranging, informative conversation at either of the following links: Apple Podcasts Spotify As explained in the Simply Trade show notes: This episode

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Two of our international cannabis lawyers, Vince Sliwoski (business) and Adams Lee (international trade), recently joined the Simply Trade podcast for a lively discussion on the international cannabis trade. You can hear that free-ranging, informative conversation at either of the following links:

As explained in the Simply Trade show notes:

This episode explores the complex legal and regulatory landscape surrounding cannabis trade, with a focus on importing, exporting, and conducting cross-border business. Experts Vincent Sliwoski and Adams Lee break down the nuances of federal vs. state laws, and provide guidance on how companies can stay compliant.

Main Points:

  • Overview of federal vs. state cannabis laws in the US
  • Rules for importing/exporting hemp vs. marijuana
  • Restrictions on transporting cannabis across international borders
  • Compliance considerations for businesses conducting cannabis trade
  • Updates on rescheduling efforts and future legislative changes
  • Resources for staying up-to-date on this evolving area of law

Takeaways:

  • Cannabis trade spans both domestic and international regulations
  • Proper declarations and permits are required for importing/exporting
  • Transporting cannabis across state/country lines remains prohibited
  • Third party carriers like FedEx have strict policies on controlled substances
  • Compliance is complex but critical for all entities involved in the industry

Enjoy! For more on the international cannabis trade, check out the following posts:

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Perspectivas de los abogados sobre la industria del cannabis en 2024 | Pregúntanos lo que quieras: la repetición del seminario web https://harris-sliwoski.com/cannalawblog/attorney-insights-on-the-cannabis-industry-2024-ask-us-anything-the-webinar-replay/ Thu, 01 Feb 2024 15:00:34 +0000 https://harris-sliwoski.com/?post_type=cannalawblog&p=134554 For anyone who missed it last month, we have published a full recording and transcript of our webinar titled: “Attorney Insights on the Cannabis Industry 2024: Ask us Anything.” You can view the recording and transcript here. The webinar was well attended, and attorneys Vince Sliwoski, Griffen Thorne and Jesse Mondry answered a variety of

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For anyone who missed it last month, we have published a full recording and transcript of our webinar titled: “Attorney Insights on the Cannabis Industry 2024: Ask us Anything.”

You can view the recording and transcript here.

The webinar was well attended, and attorneys Vince Sliwoski, Griffen Thorne and Jesse Mondry answered a variety of questions, including on the following topics:

  • Rescheduling cannabis from I – III
  • 280E Reforms and potential reactions from the IRS
  • Big Pharma, the FDA and Farm Bill influence and potential results
  • States coming online in 2024, Case Study Minnesota
  • California, Interstate Commerce and the illegal/legal markets
  • Alternative cannabinoid products like Hemp and Delta8 and their impact on the market

Enjoy!

Need Help With California Cannabis Law?

Contact Us

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Webinar GRATUITO sobre Préstamos e Inversiones en Cannabis: 28 de febrero https://harris-sliwoski.com/cannalawblog/free-cannabis-loans-and-investments-webinar-february-28th/ Lun, 29 Ene 2024 15:00:56 +0000 https://harris-sliwoski.com/?post_type=cannalawblog&p=134450 Register Here Please join us for our latest cannabis business webinar, 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 rates are high (especially compared

The post FREE Cannabis Loans and Investments Webinar: February 28th appeared first on Harris Sliwoski LLP.

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Register Here

Please join us for our latest cannabis business webinar, 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 rates are high (especially compared to a few years back), but rates are projected to come down again
  • Many cannabis businesses are struggling, but marijuana may move to Schedule III at some point this year, increasing margins

Whether you’re an investor eyeing favorable debt or equity terms, or a cannabis entrepreneur seeking to secure finance, this webinar has you covered. Equip yourself with financial insights that can help you stride confidently in this ever-evolving industry.

Topics of focus:

  • The intricacies of the cannabis financial landscape
  • Risk management
  • Navigating lending complexities
  • Capitalizing on investment opportunities
  • Potential impacts of the proposed re-scheduling of marijuana

We’ll also tackle some of the pressing issues such as regulatory challenges and how to navigate the cannabis industry with secure financial strategies.

Don’t miss out: this is your step towards becoming a well-informed player in the world of cannabis loans and investments.

Register Here

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Cannabis en Nueva York: Estimación del número de licencias https://harris-sliwoski.com/cannalawblog/new-york-cannabis-license-number-estimates/ Lun, 02 Oct 2023 14:00:53 +0000 https://harris-sliwoski.com/?post_type=cannalawblog&p=133023 During New York’s Cannabis Advisory Board’s meeting on September 26, 2023, the Office of Cannabis Management’s (OCM) Executive Director Christopher Alexander revealed that the OCM anticipated issuing “over a thousand, closer to 1,500 licenses” as part of the initial licensing window that is currently scheduled to open on October 4, 2023. As referenced in this

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During New York’s Cannabis Advisory Board’s meeting on September 26, 2023, the Office of Cannabis Management’s (OCM) Executive Director Christopher Alexander revealed that the OCM anticipated issuing “over a thousand, closer to 1,500 licenses” as part of the initial licensing window that is currently scheduled to open on October 4, 2023. As referenced in this comprehensive summary from John Schoyer of the Green Market Report, the OCM had previously disclosed that the OCM ultimately envisions a market with at least 2,000 retailers and 800 growers.

Executive Director Alexander’s announcement did not provide any insight into how the OCM plans on allocating licenses among the license types that will be available during the initial application window. Nor did it indicate whether there will be any sort of geographic allocations in the same way that the Conditional Adult-Use Retail Dispensary licenses were limited by region.

From an application perspective, it is most interesting (or, more appropriately, alarming), that the OCM’s announcement reiterated the October 4, 2023 application opening date. Although Executive Director Alexander stated that there will be a guidance document published in the coming days, no such guidance document has been published to date. It is difficult to comprehend the doubling down of an application start date with so much in the air and so little time, but, well, here we are.

As we openly begged in our recent plea to the OCM, applicants are still missing necessary application forms and crucial guidance for prospective applicants. We guess we’ll just have to see what happens with New York cannabis licensing as we get ever closer to October 4, 2023. Stay tuned.

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Más litigios sobre el programa de cannabis de Nueva York: Impugnación de la Primera Enmienda a las normas sobre sitios web de terceros https://harris-sliwoski.com/cannalawblog/more-new-york-cannabis-program-litigation-first-amendment-challenge-to-third-party-website-rules/ Fri, 22 Sep 2023 14:00:47 +0000 https://harris-sliwoski.com/?post_type=cannalawblog&p=132875 On September 18, 2023, a new lawsuit was filed by, inter alia, Leafly Holdings, Inc. (“Leafly”) against the New York State Office of Cannabis Management (“OCM”) and New York State Cannabis Control Board (the “Cannabis Control Board”). The lawsuit This legal proceeding involves a First Amendment and other challenges to certain regulations adopted by the Cannabis

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On September 18, 2023, a new lawsuit was filed by, inter alia, Leafly Holdings, Inc. (“Leafly”) against the New York State Office of Cannabis Management (“OCM”) and New York State Cannabis Control Board (the “Cannabis Control Board”).

The lawsuit

This legal proceeding involves a First Amendment and other challenges to certain regulations adopted by the Cannabis Control Board. The regulations, known as Resolution 2023-32, introduce new rules under Parts 123 and 124 of the Revised Adult-Use Cannabis Regulations, which significantly restrict the ability of New York dispensaries and consumers to use third-party websites that aggregate information about cannabis products. The petitioners, including Leafly, Stage One Cannabis, LLC (“Stage One Dispensary”), and Rosanna St. John, are seeking to have these regulations invalidated on the grounds that they are arbitrary, capricious, and in violation of both the United States Constitution and the New York Constitution. They are also requesting a temporary halt to the enforcement of these regulations until the legal proceedings are resolved.

The specific provisions being challenged are:

  1. The Third-Party Marketing Ban (9 N.Y.C.R.R. §§ 123.10(g)(21) and 124.5(a)), which restricts certain types of marketing by third-party websites.
  2. The Pricing Ban (9 N.Y.C.R.R. § 124.1(b)(5)(ii)), which imposes limitations on pricing information.
  3. The Third-Party Order Ban (9 N.Y.C.R.R. § 123.10(g)(23)), which restricts the ability to place orders through third-party websites.
  4. The Third-Party All-Licensee Listing Mandate (9 N.Y.C.R.R. § 124.1(b)(2)), which requires third-party websites to list all cannabis licensees.
  5. The Third-Party Distributor Listing Mandate (9 N.Y.C.R.R. § 124.1(c)(1)-(2)), which mandates the listing of third-party distributors.

The arguments

The petitioners argue that the Third-Party Marketing Ban and the Pricing Ban infringe upon free speech rights protected by the First Amendment of the U.S. Constitution and Article I, § 8 of the New York Constitution by limiting lawful commercial speech. They also claim that all the challenged regulations are arbitrary and capricious because they either conflict with New York’s Cannabis Law, lack a rational basis, or exceed the authority of the Cannabis Control Board.

What the plaintiffs want

Furthermore, the petitioners are requesting a temporary stay on the enforcement of these regulations, asserting that they are likely to succeed in their legal challenge and that they are facing irreparable harm due to the violation of their constitutional rights and potential business losses. They argue that maintaining the status quo is in the best interest of justice, and they urge the court to invalidate these regulations on the grounds of being arbitrary, capricious, irrational, and unconstitutional.

_____

This First Amendment challenge is just the latest litigation, unfortunately, in a program that has seen a number of misfires and delays. We will continue to monitor this lawsuit, while awaiting answers on fundamental issues that the Cannabis Control Board has inexplicably failed to address. Stay tuned to our New York coverage for more.

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Cannabis en Nueva York: Un alegato a la Oficina de Gestión del Cannabis https://harris-sliwoski.com/cannalawblog/new-york-cannabis-a-plea-to-the-office-of-cannabis-management/ Thu, 21 Sep 2023 14:00:46 +0000 https://harris-sliwoski.com/?post_type=cannalawblog&p=132877 It has now been over one week since New York’s Cannabis Control Board (CCB) and Office of Cannabis Management (OCM) announced that the general adult-use cannabis license application portal will open on October 4, 2023. For those counting at home, that is less than two weeks away. We, like the many parties with a vested

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It has now been over one week since New York’s Cannabis Control Board (CCB) and Office of Cannabis Management (OCM) announced that the general adult-use cannabis license application portal will open on October 4, 2023. For those counting at home, that is less than two weeks away. We, like the many parties with a vested interest in the opening of the application portal, wait with bated breadth for the OCM to provide any news on the myriad open items that are fundamental to the adult-use application process.

People have invested life-changing amounts of time and money in planning to apply for these licenses. It feels like we are still in the dark on so many vital issues with a little over two months before the application portal is scheduled to close (that’s one month for retail dispensary applicants with secured real estate). This writing serves as a public plea that the OCM at least begin providing information on the crucial topics below.

When is the general adult-use cannabis application portal actually opening?

Just about every attorney in New York’s cannabis space immediately noted that the CCB and OCM’s September 12, 2023 announcement, that the application portal is opening on October 4, 2023, appears to violate the Marijuana Regulation and Taxation Act (MRTA). Put simply, the MRTA required at least 30 days notice prior to opening the application portal. For those counting at home, there are less than 30 days between September 12, 2023 and October 4, 2023.

The always excellent Brad Racino reported the OCM’s response, which took the position that the OCM provided notice of the application opening date “as far back as the July 19 Cannabis Control Board Meeting” and that the timing is “fully compliant with the letter and spirit” of the MRTA. We are not familiar with any official OCM announcement that the application portal was to open on October 4, 2023 before September 12, 2023.

It would be really helpful to know when the application portal is actually opening.

Can we have those forms, please?

We’ve already discussed the missing Notification to Municipality form that is required for any retail dispensary applicants with secured real estate. It would also be pretty helpful to have the official True Party in Interest form. As is the case with the Notification to Municipality, the only available iteration of the form is specific to CAURD applicants.

What about the Guidance and FAQs for adult-use cannabis applications?

During the September 12, 2023 board meeting, there was repeated mention of the OCM releasing guidance and FAQs for prospective applicants. The OCM’s guidance and FAQs were immensely helpful during the CAURD application process, especially given the complexity and variety of license types and application processes.

To date, no guidance or FAQs have been published and, given the rapidly approaching application deadlines, we’d love to receive some guidance from the OCM.

How and who is the OCM prioritizing as social and economic equity applicants?

Kind of buried in the September 12, 2023 presentation is that “prioritization for adult use cannabis licenses will be afforded to applicants qualifying as extra priority, individuals from a CDI, distressed farmers, and service disabled veterans.” The OCM noted that it is “unable to extend the same prioritization as groups qualifying on the basis of gender or race.” Those quotes are from the published transcript from the CCB meeting (h/t to Aleece Burgio).

Of course, the MRTA is very clear that only one category of social and economic equity applicants is entitled to “extra priority”: individuals from communities disproportionately impacted by the enforcement of cannabis prohibition, who have a below median income (there’s some specific language regarding the percentage) and who have or are related to someone who has a marijuana-related offence prior to the enactment of the MRTA (again, there are some specifics).

There is no statutory mention of distressed farmers and service disabled veterans receiving “extra priority.” The roll-out of New York’s adult-use cannabis market is already a pretty litigious situation; the OCM’s deviation from the MRTA with respect to extra priority seems to invite yet another legal challenge should the OCM not “clarify” in advance of opening the application portal.

We are sure that we are missing some other critical issues, not because they aren’t important but because with this many moving parts and so much missing information, it’s hard to capture it all in one post. But we invite you to list any other issues you see in the comments to this post (or in LinkedIn or any other social media).

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Cannabis en Nueva York: El Dispensario Minorista Aviso Municipal https://harris-sliwoski.com/cannalawblog/new-york-cannabis-the-retail-dispensary-municipal-notice/ Thu, 14 Sep 2023 13:21:04 +0000 https://harris-sliwoski.com/?post_type=cannalawblog&p=132726 New York’s Marijuana Regulation and Taxation Act (MRTA) requires anyone applying for a retail dispensary or on-site consumption license to submit a notice of their intention to apply to the municipality (or community board in New York City) at least 30 days prior to submitting the application. The Office of Cannabis Management (OCM) and Cannabis

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New York’s Marijuana Regulation and Taxation Act (MRTA) requires anyone applying for a retail dispensary or on-site consumption license to submit a notice of their intention to apply to the municipality (or community board in New York City) at least 30 days prior to submitting the application. The Office of Cannabis Management (OCM) and Cannabis Control Board (CCB) included that requirement in the final adult-use rules and regulations (Section 119.3).

Here are the specifics:

  • the notification must be made between thirty (30) and two hundred seventy (270) days prior to filing an application; and
  • the notification “shall be in a form provided by the [OCM].”

Here’s why the New York municipal notice requirement is suddenly pressing: during the September 12, 2023 CCB meeting it was announced that the license application portal for retail dispensaries will open on October 4, 2023, with review of retail dispensary applications that include secured real estate to start on November 3, 2023.  That means that, basically, any prospective applicant for a retail dispensary license needs to submit the notification to it’s municipality (assuming it has already secured real estate), like now.

Here is why the notification requirement is an issue: that little reference to a “form provided by the [OCM].” As of this writing, the New York OCM has not provided a form municipal notice for the general adult-use application. The OCM’s website has an entire section devoted to notifying a municipality or community board; the attached form is for CAURD provisional licensees and expressly states that the applicant has “obtained a provision license from the Cannabis Control Board[.]” Clearly, the provided form is not applicable for general adult-use applicants.

To recap, the MRTA and adult-use rules and regulations require the OCM’s “form” to be submitted at least 30 days prior to submitting the application (that 30 day period is likely fast approaching), but no such form currently exists. We took the liberty of asking the OCM about the form and were advised that “the form could change in the future when non-conditional licenses are rolled out” and that “[c]urrently, we have no other form in this regard.”

Of course, you can always modify the OCM’s form to make sure a timely submission is made (not so easy in PDF, but doable), but some community boards have already stated that they will not accept a modified form and it is jarring (albeit unsurprising) that the general application portal is scheduled to open and a required form that must be submitted imminently (accordingly to the timeline) does not yet exist. If you are considering applying for a New York retail dispensary license, we strongly urge you to consult an attorney.

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