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

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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Not So Blind Item – The IDFPR is in a Pickle Over Its Tiebreaker Rule

Many in Illinois have been waiting with bated breath for the Illinois Department of Financial and Professional Regulation (IDFPR) to issue new (conditional) adult use cannabis dispensary licenses and it appears that wait may not end anytime soon. By way of background, under the Cannabis Regulation and Tax Act, an ambitious and precedent-setting social equity centered piece of legislation, these license were to be issued before May 1, 2020.

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Note From Our Contributors

Originally published June 3, 2020

The individual contributors to this blog are horrified by the death of George Floyd and dismayed by the pain and destruction in our communities. We want to acknowledge this incredibly trying moment happening in our country right now. Even though we write professionally on a daily basis, we found it incredibly difficult to express ourselves in this situation because it’s difficult to know where to even begin.

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Cannabis Employment Lessons from a Leading Industry Recruiter

Full disclosure: David Belsky is a personal friend (don’t hold it against him) and his company, FlowerHire, is a firm client. He is also one of the foremost authorities on placing talent in the regulated cannabis and hemp industries. Earlier this week, Forbes posted a great interview with Belsky that we highly recommend.

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You Won an Illinois Dispensary License, Now What?

In early January, Illinois received thousands of applications for adult-use cannabis dispensary licenses. Only 75 of those applications will be granted a license…eventually. Although the Illinois Cannabis Tax and Regulation Act (the Act) required the Illinois Department of Financial and Professional Regulation (IDFPR) to issue the licenses before May 1, 2020, Governor J.B. Pritzker and the IDFPR have delayed their issuance indefinitely due to the ongoing COVID-19 crisis.

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