Tilray became the first US IPO on Nasdaq on July 19th by a marijuana company. The company priced 9 million shares at $17 apiece and by the end of the day, closing at $22.39, a jump of slightly more than 32 percent on day one. As the date of posting this blog and the second
Husch Blackwell Sponsors Q3 Northern California Quarterly Cannabis Caucus
Husch Blackwell is a lead sponsor of the Northern California Quarterly Cannabis Caucuses – next of which is to be held on Tuesday, July 10 in San Francisco, CA at the Hilton Financial District. The 3rd Quarter Cannabis Caucus will bring together executive level industry professionals, policymakers, regulators, and movement leaders to network, learn about
The Hemp Farming Act of 2018….Legalize it!
The bill, known as the Hemp Farming Act of 2018, would legalize hemp, removing it from the federal list of controlled substances and allowing it to be sold as an agricultural commodity. “By legalizing hemp and empowering states to conduct their own oversight plans, we can give the hemp industry the tools necessary
Will Hemp be Legalized Soon?
Yesterday, Senator Mitch McConnell spoke to a group of hemp advocates in his home state of Kentucky that he will introduce legislation to legalize industrial hemp as an agricultural commodity. If approved, Sen. McConnell’s legislation would allow states to control their own hemp regulations by removing federal restrictions.
What does this mean?
While industrial
Cannabis Law Now Seminar: Good Manufacturing Practices
On Thursday, March 29, the Cannabis team at Husch Blackwell and Navigant, will host a cannabis seminar on developing quality systems for the cannabis/hemp industry. We will discuss the process, validations and preparation for Good Manufacturing Practice (GMP) certification. For more details, please read more here.
Congress Protects Medical Marijuana in New Spending Bill…Adult-Use is Still Not Addressed
Yesterday, details of the Fiscal Year 2018 Budget were released. Congress has once again elected to prohibit the Department of Justice (“DOJ”) from spending money on actions that prevent medical marijuana states giving practical effect to their state laws that authorize the use, distribution, possession, or cultivation of medical marijuana. Congress also continued existing provisions
California Cannabis Businesses Take Note: Prop 65 Looms Large
Cannabis businesses may be surprised to learn that Proposition 65, the California law that seeks to warn consumers of chemicals in the products they buy, may apply to many marijuana products. This law requires all parties in the supply chain, from manufacturers to distributors (but not retailers except in certain circumstances) to place warning labels
Adult-Use Marijuana Legalization in Canada is Delayed
Canada’s attempt to finalize its marijuana legislation making it the second country to legalize adult use marijuana (after Uruguay) hit a snag when Health Minister Ginette Petitpas Taylor conceded yesterday it won’t be done in July 2018. New timetables based on legislative necessity target August or September of 2018. As a result, many of
State-Legal Marijuana Sales in Colorado Reach $1.51 Billion in 2017
The state’s marijuana shops raked in $1.51 billion sales of medical and recreational flower, edibles and concentrate products during 2017, according to Colorado Department of Revenue data released last Friday. Adult-use sales topped $1.09 billion in 2017, with the remaining $416.52 million coming from medical marijuana. Cannabis sales in the state were up 15.3 percent in
The Sessions Memo
Attorney General Sessions rescinded, effective January 4, 2018, previous enforcement priorities of the DOJ related to marijuana – including the Cole Memo. The Sessions Memo dictates that federal prosecutors should follow the “Principles of Federal Prosecution” originally set forth in 1980 and subsequently refined over time in chapter 9-27.000 of the U.S. Attorney’s Manual. Sessions goes on to state in his memo that “These principles require federal prosecutors deciding which cases to prosecute to weigh all relevant considerations, including federal law enforcement priorities set by the Attorney General, the seriousness of the crime, the deterrent effect of criminal prosecution, and the cumulative impact of particular crimes on the community.” It is important to note that Sessions has not previously set any specific enforcement priorities with respect to marijuana, nor has this memo created any new enforcement priorities of the DOJ. Rather Sessions has removed the foundational guidance that states have relied on to regulate the production and distribution of marijuana pursuant to state law and the will of each states’ citizens. The Cole Memo actually set 8 enforcement priorities for the DOJ with respect to marijuana, which Sessions has now unilaterally rescinded.