Husch Blackwell’s Cannabis Group is thrilled to announce their expanded presence in the Northeast. This expansion into Boston coincides with a strong year for the cannabis team. In June 2021, Chambers USA cited the team’s cross-disciplinary approach that utilizes its well-established base in regulatory compliance to advise on a range of transactions and business structuring
Key Takeaways:
On Monday, August 9, 2021 the United Nations Intergovernmental Panel on Climate Change Sixth Assessment Report (the “IPCC report”) sent shock waves through the financial markets and the world in general. This report, the most comprehensive of its nature released since 2013, made it abundantly clear that much of the damage incurred by the global ecosystem will be irreversible and the harm is accelerating at an alarming rate. This has catalyzed investment funds and asset managers focusing on ESG investments to rethink their approach. According to Bloomberg Law, Chris Meyer of Praxis Mutual Funds, a well established socially responsible investment firm stated that the report “…changes the calculus. We will need to have a sharper focus. This report shows that investors are not moving quickly enough.” Financial investment itself may not be able to curb the problem, however, what is certain is that fund managers focused on ESG criteria will have an increased focus on environmentally conscious companies and substantial sums of investment dollars will likely flow into companies that commit to more aggressive ESG plans.
Husch Blackwell has named partner Marshall Custer as co-leader of the firm’s 80-plus lawyer Cannabis practice group. Custer will share leadership duties for the team with partner Steve Levine, who was appointed by the firm to lead its Food & Agribusiness strategic business unit. Levine was a prime mover in creating Husch Blackwell’s cannabis
The Marijuana Regulation & Taxation Act (the “Act”) was signed into law by Governor Andrew Cuomo on March 31, 2021. Not only does the Act create the foundation for the adult-use marijuana program, it contains sweeping changes to the current medical marijuana regulatory framework as well as criminal reform elements.
Per the Act, the administration of the adult-use and medical marijuana programs will be two pronged. The Act provides the criteria for the composition of a Cannabis Control Board which will be charged with creating regulations for the medical and adult-use programs. The implementation and enforcement of the policies will be conducted through the Office of Cannabis Management which will enforce the policies. It will be a bit more than a “New York Minute” before these regulators are ready to release the more specific provisions of the regulations or application process here is what we do know:
Marshall Custer was quoted in the November 11, 2019 edition of Law Week Colorado on the U.S. Department of Agriculture first guidance on how
hemp can be lawfully produced under the 2018 Farm Bill.
Read the 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
There has been a lot of speculation about what a Trump administration, and particularly a DOJ lead by Jeff Sessions, will mean for our burgeoning Marijuana industry. The short answer is nobody knows, and given the fact that the Trump team seems intent on using obfuscation as a strategy, I don’t think we will
Jeff Tyler put together a great segment for yesterday’s Marketplace podcast concerning the growing size (and sophistication) of the marijuana industry. This is one of many recent stories from larger media outlets that, like the industry itself, is moving away from the novelty of marijuana and treating it like any other business segment. You can
As a last minute reminder, the MED has posted newly revised medical and retail rules for public comment. The proposed rules cover a wide range of topics, though the largest changes are related to the following:
Colorado recently modified its marijuana establishment ownership laws by creating a new class of ownership called the Permitted Economic Interest (PEI). As a result of this change, the Colorado Marijuana Enforcement Division will be promulgating new rules for individuals that wish to invest or loan money to licensed marijuana establishments through the issuance of convertible