Tuesday, January 26, 2021 Headlines | Marijuana Today Daily News


A close-up photograph shows a dark-green mature marijuana plant- just the fan leaves- no buds are showing. The background is blurred and appears to show an outdoor setting. The dark green of the leaves in sharply contrasted with the white vein-lines running over them.

Marijuana Today Daily Headlines
Tuesday, January 26, 2021 | Curated by host Shea Gunther

// Boycott spurs Massachusetts cannabis trade group to withdraw delivery suit (Marijuana Business Daily)

// Virginia Marijuana Legalization Bill Approved By Senate Committee With Home Cultivation Provisions Intact (Marijuana Moment)

// Arizona Begins Recreational Marijuana Sales Just Weeks After Voters Approve Legalization (Marijuana Moment)


These headlines are brought to you by the upcoming Homegrown Weed Summit, the first and only online event dedicated to teaching you how to grow elite cannabis from seed to harvest right in your home. The Homegrown Weed Summit is coming up on February 15 and will feature four days of online events with noted cannabis pros like Tommy Chong, Danny Danko, and Ed Rosenthal. You can learn more about the Homegrown Weed Summit and get your free ticket now over at HomeGrownWeedSummit.com!


// Harvest closes $34.6M Florida sale-leaseback deal with marijuana REIT (Marijuana Business Daily)

// New Psychedelics Reform Group Sets Sights On Congress As Movement Builds (Marijuana Moment)

// Washington Lawmakers Approve Marijuana Homegrow Bill In Committee (Marijuana Moment)

// Premium flower demand drives Colorado wholesale marijuana prices to nearly five-year highs (Marijuana Business Daily)

// Marijuana Legalization Could Create $43 Million In Annual Tax Revenue Delaware State Auditor Reports (Marijuana Moment)

// Anti-Marijuana Lawmaker Files Legalization Bill In North Dakota To Avoid Activist Ballot Measure (Marijuana Moment)

// New Mexico Governor And Senate Leader Say Marijuana Legalization Can Pass This Year (Marijuana Moment)

Check out our other projects:Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement. • Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Elsa Olofsson/Flickr

Tuesday, January 28, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Tuesday, January 28, 2020 | Curated by host Shea Gunther

// Confiscated California vape pens contained dangerous additives, regulators say (USA Today)

// Mexico’s President Says A New Marijuana Panel Will Make Legalization Recommendations (Marijuana Moment)

// Arizonans spent more than $500M on medical marijuana in 2019 as legalization proposal attracts more donations (AZ Central)


These headlines are brought to you by MJToday Media, publishers of this podcast as well as our weekly show Marijuana Today and the most-excellent Green Rush Podcast. And check out our new show Weed Wonks!


// USDA Approves Hemp Plans For Texas, Nebraska, And Delaware (Marijuana Moment)

// Cannabis REIT Adds Cresco Labs Ohio Cultivation Facility to Its Portfolio (New Cannabis Ventures)

// Maine’s marijuana market in legislative spotlight (Portland Press Herald)

// Temporary uptick in Washington state wholesale cannabis flower prices on shuttered businesses, unused canopy (Marijuana Business Daily)

// Vermont Governor ‘At The Table’ On Marijuana Legalization Talks, Top Lawmaker Says (Marijuana Moment)

// The SQDC has slashed its retail plan from 150 stores to 100 (Leafly)

// Toronto spent over $300,000 to block illicit dispensaries with concrete (Leafly)


Check out our other projects:
Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Lindsay Fox/Flickr

Thursday, February 13, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Thursday, February 13, 2020 | Curated by host Shea Gunther

// Recreational pot bill spurned in New Mexico Legislature (CT Post (AP))

// Vermont Farmers Fear Pot Bill Will Shut Them Out of the Marijuana Market (Seven Days VT)

// Michigan recreational marijuana delivery now only a click away (Michigan Live)


These headlines are brought to you by Atlantic Farms, a Maine-based multistate cannabis business with operations in Maine and Massachusetts. Atlantic Farms is looking for people to help it grow and evolve as investors. Open up TheAtlanticFarms.com for more on the company and email info@theatlanticfarms.com to learn about investment opportunities.


// Medical marijuana bill filed at Alabama State House (ABC 33 40)

// Top Mexican Senator Says Marijuana Legalization Bill Will Be Approved This Month (Marijuana Moment)

// Canopy Growth earnings: When will the weed drinks arrive? (Market Watch)

// Many landlords will take cash from marijuana tenants report says (Marijuana Business Daily)

// L.A. pot licensing delays costing industry millions (LA Weekly)

// Two Pending Bills Could Substantially Change Washington’s Cannabis Advertising Laws (Canna Law Blog)

// Kentucky Lawmakers Approve Medical Marijuana Bill In Committee Vote (Marijuana Moment)


Check out our other projects:
Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Ron Cogswell/Flickr

Thursday, March 12, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Thursday, March 12, 2020 | Curated by host Shea Gunther

// Oglala Sioux Tribe approves medical, recreational marijuana (Leafly (AP))

// Oregon Psychedelic Mushroom Campaign Collects More Than 100,000 Signatures For Ballot Measure (Marijuana Moment)

// Spannabis cannabis conference postponed amid coronavirus pandemic (Marijuana Business Daily)


These headlines are brought to you by Curaleaf, one of the leading vertically-integrated cannabis operators in the U.S. With legal medical marijuana dispensaries, cultivation sites, and processing facilities all over the United States, Curaleaf has served more than 165,000 medical cannabis patients and looks forward to helping many more long into the future. Swing over to Curaleaf.com to learn more about this very cool company!


// Washington state to allow social equity applicants exclusive access to revoked cannabis licenses (Marijuana Business Daily)

// Germany launches application process for distribution of domestically produced cannabis flower (Marijuana Business Daily)

// Survey reveals Canadians favor 5 mg or less of THC in edibles (Green Camp)

// Maryland House Votes To Expand Marijuana Decriminalization Law (Marijuana Moment)

// Innovative Industrial Properties Adds Parallel as New Tenant with $35 Million Florida Cannabis Cultivation Facility Acquisition (New Cannabis Ventures)

// Tennessee Senate Committee Approves Medical Marijuana Bill (Marijuana Moment)

// The Vast Majority of California Vape Illness Patients Used Black Market Weed (Merry Jane)


Check out our other projects:
Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Will Power/Flickr

Thursday, March 12, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Thursday, March 12, 2020 | Curated by host Shea Gunther

// Oglala Sioux Tribe approves medical, recreational marijuana (Leafly (AP))

// Oregon Psychedelic Mushroom Campaign Collects More Than 100,000 Signatures For Ballot Measure (Marijuana Moment)

// Spannabis cannabis conference postponed amid coronavirus pandemic (Marijuana Business Daily)


These headlines are brought to you by Curaleaf, one of the leading vertically-integrated cannabis operators in the U.S. With legal medical marijuana dispensaries, cultivation sites, and processing facilities all over the United States, Curaleaf has served more than 165,000 medical cannabis patients and looks forward to helping many more long into the future. Swing over to Curaleaf.com to learn more about this very cool company!


// Washington state to allow social equity applicants exclusive access to revoked cannabis licenses (Marijuana Business Daily)

// Germany launches application process for distribution of domestically produced cannabis flower (Marijuana Business Daily)

// Survey reveals Canadians favor 5 mg or less of THC in edibles (Green Camp)

// Maryland House Votes To Expand Marijuana Decriminalization Law (Marijuana Moment)

// Innovative Industrial Properties Adds Parallel as New Tenant with $35 Million Florida Cannabis Cultivation Facility Acquisition (New Cannabis Ventures)

// Tennessee Senate Committee Approves Medical Marijuana Bill (Marijuana Moment)

// The Vast Majority of California Vape Illness Patients Used Black Market Weed (Merry Jane)


Check out our other projects:
Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Will Power/Flickr

Real Estate Development in California: Join us February 26 in L.A.!

Developers of cannabis projects in California want to turn projects around as quickly and cheaply as possible, and are frequently frustrated by the amount of time, money, and effort required for the entitlement process. On Wednesday, February 26, a panel of real estate development experts will explain the entitlement process in California at a LACBA panel moderated by our own Julie Hamill.

Julie will be joined by:

  • Amy Freilich, Partner at Armbruster Goldsmith & Delvac;
  • Larry Kosmont, CEO of Kosmont Companies; and
  • Corinne Verdery, Chief Development Officer at Caruso.

The panelists will describe the steps that a developer goes through to entitle a project, and how political strategies, community outreach, CEQA, and new development laws play into the process. Theses panelists are working on some of the biggest development projects in Southern California and will share their war stories, successes, and challenges with the audience in a guided discussion followed by audience Q&A.

This panel is for real estate practitioners, land use lawyers, developers, and students eager to learn more about how the mysterious world of land use really works. The panel is not tailored specifically toward the cannabis industry, but will be worthwhile for anyone interested in development in this or any other industry in California. Registration information is available here.

Thursday, February 13, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Thursday, February 13, 2020 | Curated by host Shea Gunther

// Recreational pot bill spurned in New Mexico Legislature (CT Post (AP))

// Vermont Farmers Fear Pot Bill Will Shut Them Out of the Marijuana Market (Seven Days VT)

// Michigan recreational marijuana delivery now only a click away (Michigan Live)


These headlines are brought to you by Atlantic Farms, a Maine-based multistate cannabis business with operations in Maine and Massachusetts. Atlantic Farms is looking for people to help it grow and evolve as investors. Open up TheAtlanticFarms.com for more on the company and email info@theatlanticfarms.com to learn about investment opportunities.


// Medical marijuana bill filed at Alabama State House (ABC 33 40)

// Top Mexican Senator Says Marijuana Legalization Bill Will Be Approved This Month (Marijuana Moment)

// Canopy Growth earnings: When will the weed drinks arrive? (Market Watch)

// Many landlords will take cash from marijuana tenants report says (Marijuana Business Daily)

// L.A. pot licensing delays costing industry millions (LA Weekly)

// Two Pending Bills Could Substantially Change Washington’s Cannabis Advertising Laws (Canna Law Blog)

// Kentucky Lawmakers Approve Medical Marijuana Bill In Committee Vote (Marijuana Moment)


Check out our other projects:
Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Ron Cogswell/Flickr

Tuesday, January 28, 2020 Headlines | Marijuana Today Daily News

Marijuana Today Daily Headlines
Tuesday, January 28, 2020 | Curated by host Shea Gunther

// Confiscated California vape pens contained dangerous additives, regulators say (USA Today)

// Mexico’s President Says A New Marijuana Panel Will Make Legalization Recommendations (Marijuana Moment)

// Arizonans spent more than $500M on medical marijuana in 2019 as legalization proposal attracts more donations (AZ Central)


These headlines are brought to you by MJToday Media, publishers of this podcast as well as our weekly show Marijuana Today and the most-excellent Green Rush Podcast. And check out our new show Weed Wonks!


// USDA Approves Hemp Plans For Texas, Nebraska, And Delaware (Marijuana Moment)

// Cannabis REIT Adds Cresco Labs Ohio Cultivation Facility to Its Portfolio (New Cannabis Ventures)

// Maine’s marijuana market in legislative spotlight (Portland Press Herald)

// Temporary uptick in Washington state wholesale cannabis flower prices on shuttered businesses, unused canopy (Marijuana Business Daily)

// Vermont Governor ‘At The Table’ On Marijuana Legalization Talks, Top Lawmaker Says (Marijuana Moment)

// The SQDC has slashed its retail plan from 150 stores to 100 (Leafly)

// Toronto spent over $300,000 to block illicit dispensaries with concrete (Leafly)


Check out our other projects:
Marijuana Today— Our flagship title, a weekly podcast examining the world of marijuana business and activism with some of the smartest people in the industry and movement.
Marijuana Media Connect— A service that connects industry insiders in the legal marijuana industry with journalists, bloggers, and writers in need of expert sources for their stories.

Love these headlines? Love our podcast? Support our work with a financial contribution and become a patron.

Photo: Lindsay Fox/Flickr

Receivership and Distressed Cannabis Assets in California

Succeeding in the cannabis industry is not easy, especially in California. Complex regulation, high taxes, expensive real estate, and competition with the black market are just a handful of factors that challenge cannabis businesses. The majority of players lack sufficient reserves and agility to stay in the game. Due to the substantial upfront costs required to obtain state and local licenses, many don’t even open their doors before cash flow problems lead to unpaid rent and defaulted loans.  We are seeing an increasing number of distressed businesses in the cannabis space.

So, what happens when a cannabis business goes belly-up? A typical business can file for bankruptcy protection, and a court-appointed trustee may liquidate or reorganize the business to satisfy creditors and discharge the debt. Due to the federal prohibition against cannabis, however, cannabis businesses are not eligible for bankruptcy protection, and cannot discharge their debts the same way that other businesses can. Bankruptcy cases are handled exclusively in federal court, and the rationale is that it wouldn’t be possible for a United States Trustee to control and administer a debtor’s assets (cannabis) without violating the federal Controlled Substances Act. (See here for more on that).

What are the Options for a Distressed Cannabis Business?

One option, if all parties are in agreement, is to voluntarily work out a deal between creditors and the debtor outside of court. While this avenue carries risk due to the absence of any formal court order, and creditors will have to trust that the debtor will follow through with their promises, it could be the most cost-efficient means of resolving a creditor dispute if the arrangement works out.

Another option, which is growing in popularity, is the use of a court-appointed receiver.

What is a Receiver, How is one Appointed and What Does a Receiver Do?

 In California, a receiver is an officer appointed by the court to take possession of and to protect assets for the benefit of all persons who may have an interest in those assets. The receiver is a neutral agent of the court and holds assets for the court, not for the plaintiff or the defendant. A receivership is only a provisional remedy in an action that seeks some other relief by final judgment. In other words, you cannot file a lawsuit for the sole purpose of having a receiver appointed.

The court will outline the powers of the receiver in an order, which typically include temporarily managing the business until it gets back into better financial standing, selling off assets, employing employees and professionals, and entering into contracts or leases, among other powers.

In the context of a cannabis business, a likely scenario would involve the business defaulting on a loan, the creditor suing to recover the money, and then the creditor seeking to have the court appoint a receiver to take over the business during the pendency of the action. As we have written about previously, receivership can be a helpful tool where there is a dispute between business owners, but it is not without risk.

Receivership can be expensive, and the costs are generally paid from the income stream generated by the receivership estate (AKA the cannabis business). However, when the receivership estate produces no income or produces income insufficient to compensate a receiver (or when equity requires), the appointing court has broad discretion in determining which party to the litigation should pay the expenses of a receivership. Ordinarily, a court will require the party that requested the receiver’s appointment to bear these costs. That means if you are a creditor who sues a cannabis business and asks to appoint a receiver, and the business does not generate enough income to pay the receiver’s fees, you could be on the hook to pay!

How Does Receivership Work in the Cannabis Industry?

The use of receivership in the cannabis industry can yield strong results (the assets of a cannabis business in receivership were recently sold at auction for $8.5 million), but it is a tricky and novel thing to navigate.

While there are California statutes specifically addressing the use of receiverships to transfer the interest of a debtor in an alcoholic beverage license, no such laws exist (yet) relating to receiverships for cannabis businesses. Combine that with the prohibition against transferring state licenses, the different regulations for ownership changes from the BCC, CDPH and the CDFA, the restrictions applicable to a person who engages in management and control of a cannabis business, and local jurisdiction requirements, and cannabis receivership becomes a very complicated endeavor. While the non-license business assets are less of an issue (e.g., the sale of real property and equipment is more straightforward), the management and sale of a business and license are a different story. We expect to see some legislation and/or regulation addressing receiverships for cannabis entities at some point in the future.

Opportunities for Investment in Distressed Cannabis Assets

The cannabis industry’s regulatory framework is extremely complicated to navigate. However, well-capitalized and savvy investors may be able to take advantage of distressed assets in receivership if they are prepared to deal with the uncertainty and risk.

Cannabis Real Estate Leases Part 2: Lease Audits and Lease Abstracts

In a cannabis business, like most other businesses, “location, location, location” means everything and dictates whether you have the optimal growing, manufacturing, processing, or retail location. Once you find your perfect location, having a great lease and understanding your lease are two crucial parts in solidifying this important business foundation. In this post, I share the starting point for my lease audits so that when you or your attorney audit your lease you will be able to recognize your lease’s strengths and weaknesses. I also provide some practice pointers to help you think more strategically about your marijuana leasing relationships.

I am a transactional attorney, which means I thrive on putting together and executing a great business deal for my clients that is tilted as much as possible to their advantage. I live and die by my data points, and I often use Excel so that I can crunch the data and identify trends. The more data I have about my client or the opposing party, the better deal I can put together. In a recent transaction I reviewed about 15 leases for a client as part of the due diligence in an acquisition, and for each lease I filled out the following chart, which we call a lease abstract. This chart can also be useful in negotiating a lease at an entirely new location or with a new landlord or tenant.

Lease TermComments
Property Address: (fill in Lease section to reference here and in all parentheses below)
Premises: ( )Your leased premises may only be a portion of a larger property (like a strip mall) and may include other portions of the property (like dedicated restrooms or storage areas).
Property Use: ( )Even if your lease or proposed lease does not specifically exclude your contemplated use, you should ensure that the location is zoned and the lease explicitly permits your planned activities.
Landlord: ( )Make sure the landlord’s full legal name, entity type, and state of formation is used and not some unregistered dba or incorrect name.
Tenant/Subtenant: ( )If you are the landlord, make sure the tenant’s full legal name, entity type, and state of formation is used and not some unregistered dba or incorrect name.
Lease Term: ( )This is the length of time for the lease’s initial term.
Lease Commencement Date: ( )This is the date the lease “starts.” Often a lease will be negotiated in advance and have a commencement date in the future after certain preparations (the buildout) are made by landlord or tenant.
Lease Expiration Date: ( )This is the date the initial term ends.
Base Rent: ( )Some leases include base rent only; some include percentage rent based on some financial metric; and others incorporate base rent plus percentage rent.
Rent Due Date: ( )This can be the 1st, 10th, 15th, or whatever date makes the most sense based on when the landlord’s mortgage payment is due.
Late Payment Penalty: ( )If you are the landlord, you want the late payment penalty to apply without any notice from the landlord to tenant that the rent payment is past due. If you are the tenant, you want a long payment window without any late payment penalty.
Rent Increase: ( )Most rent increases occur on a set schedule, either in straight dollar increases or a percentage increase, often pegged to one of the consumer price indices (CPI).
Gross Lease Amount: ( )This lets both landlord and tenant (or their CFOs) to see at a glance the value or cost of the lease over the life of the lease.
Security Deposit: ( )This becomes important at the lease termination or upon sale of the underlying real estate when the lease is still in force.
Utilities: ( )Determine which utilities are tenant’s responsibility and which are landlord’s, as well as who will actually remit payments.
Taxes: ( )Determine which taxes are tenant’s responsibility and which are landlord’s, as well as who will actually remit payments.
Tenant’s Responsibilities: ( )These could include maintenance, cleaning, garbage removal, snow removal, and structural and nonstructural repairs to the leased premises.
Landlord’s Responsibilities: ( )These could include maintenance, cleaning, garbage removal, snow removal, and structural and nonstructural repairs to the leased premises.
Parking: ( )Reference whether tenant has any dedicated parking, which can be extremely important for retail locations.
Tenant Improvements: ( )Include whether the tenant is permitted to make improvements and which improvements will be considered (a) fixtures that become part of the leased premises or (b) non-fixtures that the tenant can (or must) remove at the end of the lease term.
Lease Extension Provisions: ( )Indicate whether the lease can be extended only by mutual agreement of the landlord and the tenant or whether the tenant can unilaterally extend the lease.
Lease Extension Notice Date: ( )Even if the lease can be unilaterally extended by the tenant, often lease extension notice is required three, six, or 12 months prior to the end of the lease.
Tenant’s Holdover: ( )Some leases treat the tenant’s holdover at the end of the lease term as an automatic lease renewal; others expressly exclude the tenant’s holdover and apply a 2x or 3x rent multiplier to discourage the tenant from holding over.
Termination Provisions: ( )Include who can terminate the lease and how the lease must be terminated, especially the termination notice date and method of giving notice.
Termination Notice Date: ( )This date is as crucial as the renewal notice date.
Assignability: ( )Often leases can be freely assigned by the landlord and sometimes by the tenant. Other times the landlord requires notice of the tenant’s assignment, including subleasing.
Guarantor(s): ( )Most landlords require the owners of tenants that are new companies to personally guarantee the lease.
Landlord’s Contact: ( )If the landlord uses a managing company or other third party, or if the landlord is an entity, you will want to know who to contact and have reliable contact information, including a cell phone number for emergencies.
Landlord’s Notice Address: ( )This notice address becomes extremely important to the tenant if the landlord does not timely perform its lease obligations, such as snow removal or other maintenance or repairs.
Landlord’s Payment Address: ( )Often the location of where to pay rent differs from the landlord’s primary business address.
Additional Information / Issues: ( )Include anything here that may be relevant to negotiations or to responsibilities under the lease that do not fit in any category above.

 For more helpful information on leasing, see: