Husch Blackwell employment law attorney Chris Ottele was featured in the November 7, 2018 issue of the Kansas City Business Journal. Chris speaks about potential employer issues posed by medical marijuana as Missouri voters have signed off on legalizing medical marijuana. Read the full article here.
While the basic principles of due diligence still apply, vetting existing marijuana and hemp businesses presents some unique variables and risks.
The cannabis industry is expected to grow exponentially over the next decade. Cutting a deal at this stage could potentially reap outsized rewards, but as ever, deals carry with them a certain element of transactional risk.
In this white paper we discuss:
- Assessing financial statements
- Intellectual property due diligence
- Business and regulatory relationships
- Regulatory compliance
Read this white paper to learn more about a more customized approach to cannabis industry-related due diligence.
Cannabis is a hot topic in the news. On October 17, 2018, our friends to the north made headlines when cannabis was officially legalized for adult use. As the November 6 midterm elections draw closer in the United States, we’ve compiled a round-up of ballot initiatives across the country that will ask voters to weigh in on a variety of marijuana and industrial hemp initiatives.
Ballotpedia.com maintains a database of local ballot measures extending back to the beginning of the century. According to the website, there have been 164 cannabis-related local ballot measures in California since 2000. Amazingly, 77 of them—or 47 percent—appeared this year, a remarkable spike in number.
Husch Blackwell Partner Steve Levine and the Cannabis team were featured in the Sacramento Business Journal on September 19, 2018. In the article Steve explores California’s laws and regulations on the emerging cannabis industry. Husch Blackwell opened our Sacramento office doors on January 2 of 2018.
Husch Blackwell is proud to support @TheNCIA Northern California #CannabisCaucus on Tuesday, October 9 in Santa Rosa, CA. NCIA’s Cannabis Caucus event series has quickly become the gold standard event for professionals serving the cannabis industry! Join the industry’s most influential leaders for an evening of hors d’oeurves, cocktails (cash bar) and the latest organizational and federal policy updates. A registration link can be found here. Please use promo code HUSCH75 for 75% off tickets to this event.
Husch Blackwell Cannabis team attorneys Steve Levine and Meghan Brennan will participate in today’s #DENStartupweek events by speaking on a panel on the topic of the States of Cannabis. Since Colorado legalized the cultivation, manufacturing and sale of cannabis, cannabis has grown from small mom and pop operations to a large scale agribusiness, and regulations have followed suite. Attendees will learn about the spectrum of state, local and international regulations that have developed since initial legalization. Panelists will also discuss the impact such regulations have on the industry and trends they are seeing due to the very different approaches to cannabis regulation. The panel will discuss the differences between the United States and the uncertainty at the federal level and Canada, where cannabis was legalized at the federal level. Megan and Steve will join other panelists Alyssa Samuel and Dylan Sheji. The panel will be held from 10:15am – 11:15am. Location is the offices of Akerman LLP at 1900 Sixteenth Street, Suite 1700.
“U.S.-listed shares of Canada-based Canopy Growth Corp. soared almost 30% Wednesday, after liquor seller Constellation Brands Inc. said it will invest another CAD $5 billion, or about $4 billion, in the diversified cannabis company.”
What does this mean?
Investment continues to be poured into Canadian marijuana companies listed on US stock exchanges (See Tilray listing on NASDAQ). This most recent investment is likely do to the already $700 million return that Constellation has earned from its previous investment into Canopy of $100 million. Obviously the alcohol industry views the marijuana industry as a threat and Constellation is taking big steps to ensure it is diversifying in an effort to create further shareholder value. This investment further emphasizes the missed opportunities for many cannabis companies operating here in the US due to the fact that cannabis is still federally illegal.