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.
Read MoreAs we arrive at the middle of June, the Illinois Department of Financial and Professional Regulation (IDFPR) has not issued any conditional adult-use cannabis dispensary licenses and, as we recently wrote about here, it may be a while before the licenses are issued. Nevertheless, those licenses will be issued eventually, and it is important that cannabis entrepreneurs begin evaluating their next steps.
Read MoreMany 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.
Read MoreIn 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.
Read MoreThe SAFE Banking Act is perhaps the most important piece of federal marijuana legislation outside of bills for full legalization or decriminalization. It has also garnered the most posts of any topic on our blog, because of its importance and the rollercoaster it has gone through since being introduced.
Read MoreTwo longtime legal cannabis proponents—Reps. Earl Blumenauer (D-OR) and Ed Perlmutter (D-CO)—introduced a bill in the House today that would allow marijuana businesses access to federal coronavirus-related assistance.
Read MoreMuch has changed over the last two months. One thing that hopefully has not is the momentum for marijuana reform at both the state and federal levels. On that front, there is good news emanating from Virginia.
Read MoreThe COVID-19 crisis has led to an unprecedented level of federal aid to businesses and individuals alike but much of it does not apply to cannabis businesses. Here is a breakdown of how these recent aid packages affect the marijuana industry
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