Ensuring Entrepreneurs and Businesses Stay Informed of Developments in the Burgeoning Cannabis Industry

Latest Senate Coronavirus Relief Bill Omits Cannabis Banking Protection

Once again, the Senate appears to be punting on much-needed banking and insurance reform for the cannabis industry.  The SAFE Banking Act would allow banks and insurance companies to offer their services to marijuana-related businesses without violating federal law. As we discussed here, it’s had solid support in the House—a standalone bill passed the House with bipartisan support last year and the text of the bill was included in the House’s proposed stimulus package in May 2020.

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Significant Financing Deal A Good Sign for Cannabis Companies Large and Small

According to a recent Bloomberg article, New York-based LeafLink recently closed a significant credit facility of $250 million. Leaflink is a wholesale marketplace that connects retailers with a variety of brands and distributors in the legal cannabis marketplace. LeafLink also assists in providing liquidity to the broader market by factoring accounts receivable.

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Arizona Group Files 420,000 Signatures Supporting Recreational Marijuana on November Ballot

Last week, Smart and Safe Arizona reportedly filed 420,000 signatures with the Arizona Secretary of State in an effort to legalize adult-use marijuana. The proposed measure would permit those 21 or older to possess up to an ounce of cannabis and cultivate up to six plants for non-commercial purposes at home, as well as allow for the expungement of certain marijuana convictions.

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Where’s the Money At? Industry Cash Crunch Exacerbated by the Pandemic

If you’ve been following the cannabis industry in 2020, you’ve likely heard the term “cash is king” more than once. This has become the industry consensus as stocks (mostly traded in Canada) began to slide after some disappointing earning numbers in the middle of 2019. That, in turn, resulted in decreased valuations and a reduction in investment capital.

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