5 Corporate Governance Pitfalls in Cannabis Companies

Corporate documents for cannabis companies need to be carefully drafted and tailored for the unique aspects of the industry. Template documents that are found online or taken from other companies may have some useful provisions, but should not be wholly relied upon to suit the particular needs of a cannabis business. In particular, a few […]

Cannabis, the Constitution and a Path to a National Market

Although cannabis is illegal at the federal level, it has been legalized in an increasing number of states in recent years, and is currently legal for either medical or recreational use in 36 states. However, although cannabis is legal in more than 2/3 of states, every state that has legalized cannabis has prohibited both importing […]

Special Purpose Acquisition Companies (“SPACs”) May Be the Future of Cannabis and Hemp Business Growth, and Industry Consolidation

Special Purpose Acquisition Companies, commonly referred to as “SPACs”, have garnered significant public attention and investment capital in the past year and have made investments into a number of different industries, including cannabis. It is estimated that SPACs raised over $82 billion in 2020, which was a six-fold increase from 2019. Several SPACs have made […]

State Agencies Enact Regulations to Improve Banking Access for Cannabis Industry

On February 1, 2021, regulations set forth by the California Department of Food and Agriculture, Bureau of Cannabis Control and Department of Public Health to implement Assembly Bill 1525 were approved by the California Office of Administrative Law and put into effect. The adopted regulations provide a mechanism for licensees to request that state licensing […]