Q2 Cannabis Industry Group Newsletter
Q2 Cannabis Industry Group Newsletter
Welcome to your quarterly rundown of the latest legal, policy, and market happenings in the cannabis and hemp industry.
The Intoxicating Hemp Derivatives Market:
By Robert Hoban
All of the hemp plant’s uses and contrivances must be respected for the hemp family of uses to exist. This year’s NoCo brought me down memory lane, as I recalled the various industry consumer product trends over the past nine NoCo Hemp Expos, like CBD, hemp flower, hemp cigarettes, CBG, THCa, etc. Today’s market trend is Delta-8 THC and related compounds, such as Delta-10 THC, Delta-11 THC, HHC, and the like. Numerous states are actively promulgating regulations to ensure that these compounds are produced and sold in a manner that is safe and consumer friendly.
These products fall into a category that I generally describe as Intoxicating Hemp Derivatives (”IHDs”). Make no mistake about it, IHDs are very much here to stay. So much so that economists and market analysts are beginning to categorize “cannabinoids” as a third distinct sector of the broad and sweeping cannabis industry.
Read the full article here.
Q2 2023 in the Cannabis Industry Group:
Last month, Co-Chair of the Cannabis Industry Group Sander Zagzebski sat down with the Managing Director of Sharp Capital Advisors, Colin Campbell to discuss the current state of marijuana sector mergers and acquisitions and the cannabis dealmaking landscape in 2023.
On April 23, Delaware became the 22nd state in the country to legalize marijuana for recreational use. With the passage of the new law, Delaware employers face new challenges and questions. This article is intended to offer some answers.
By: Craig Small
Marijuana use has become increasingly common in the United States, with many states legalizing its use for medical or recreational purposes. However, U.S. federal law still classifies marijuana as a Schedule I drug, which means it is illegal under federal law. This creates a confusing legal landscape that can impact the rights of citizens, particularly when it comes to the US Constitutional Second Amendment right to bear arms. This article explores how U.S. marijuana laws affect citizens’ rights to bear arms and what this means for those who use marijuana.
By: Michael A. Walsh
The FDA held a “stakeholders” call on May 25th to present information on how it reached its present stance concerning CBD and to answer a few questions. FDA’s presentation included its assessment of survey data concluding that the predominant uses of CBD are ingestion resulting in multiple adverse health effects. Based on its findings, FDA concluded that the safety profile for CBD ingestion does not fit into the definition of a food additive, but requires a health safety/”harm reduction” analysis, and tossed this politically charged hot potato to Congress.
Announcing the New Denver Clark Hill Office:
This month, Clark Hill announced today that its Denver office has moved to 1400 Wewatta Street, Suite 550 in the Lower Downtown district near Union Station. With the move, Clark Hill is doubling its square footage in Denver from 6,000 square feet to just over 12,000. The expansion reflects the success of Clark Hill’s Cannabis Industry Group and the firm’s plans to build a full-service offering for clients out of its Denver office.
“Our Denver location will still be a hub for cannabis work at the firm, but we’re looking to attract talented attorneys with practices in other industries to serve a broader audience,” said Denver Member-in-Charge Robert Hoban. The new location has been built from scratch and features robust technology enhancements, several conference rooms equipped to encourage internal and external collaboration, a kitchen space, and a quiet meditation room. The office layout presents a hoteling floorplan to allow for frequent visitors and a rotating roster of attorneys working in the office and from home.
On June 19th-23rd, Co-Chair of the Cannabis Industry Group, Robert T. Hoban will be at Psychedelic Science in Denver, CO.
On June 29th-30th, Co-Chair of the Cannabis Industry Group, Robert T. Hoban will be in Berlin, Germany speaking at the Global Investment Forum at ICBC.
On August 9th-11th, Cannabis Industry Group attorneys, Michelle Donovan and Michael Pattwell will be at the Michigan Cannabis Industry Association Summer Annual Conference and Chronic Cup championship.
On August 11th-12th, Co-Chair of the Cannabis Industry Group, Robert T. Hoban will be speaking about the state of cannabis law in Manhattan, NY.
The Cutting Edge in Cannabis Law:
House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) is investigating the Food and Drug Administration’s (FDA) failure to regulate cannabidiols (CBD) products as dietary supplements. In a letter to the Commissioner of Food and Drugs at the FDA, Dr. Robert M. Califf, Chairman Comer raises concern that the agency’s failure to regulate CBD products could allow dangerous products to come to market and is requesting documents and information to enable oversight of the FDA’s failure to provide Americans with regulatory guidance.
While the state of the U.S. Food and Drug Administration’s (FDA’s) regulation of Cannabidiol (CBD) remains gray, the agency now sees a path forward through federal legislation.
The bipartisan federal legislation aimed at providing safe harbor to financial institutions servicing the cannabis industry was reintroduced in Congress.
More than six years after legalization, regulators are scoring applications in the state’s first formal licensing process for the current medical cannabis program.
This publication is intended for general informational purposes only and does not constitute legal advice or a solicitation to provide legal services. The information in this publication is not intended to create, and receipt of it does not constitute, a lawyer-client relationship. Readers should not act upon this information without seeking professional legal counsel. The views and opinions expressed herein represent those of the individual author only and are not necessarily the views of Clark Hill PLC.
WEBINAR: The Race to 2024: Politics and Social Media in the Workplace and Employer Rights.
Over the last several years, employers have seen and continue to see increased political activities from their employees at work and on social media platforms, including on business-related social media platforms, like LinkedIn. Managing employee expression causes unique challenges for employers and HR professionals, and in a General Election year, these challenges are likely to increase as the Presidential race, and other races, heat up.
WEBINAR: Cybersecurity Resilience in Law Firms
This webinar focuses on law firms seeking useful information about robust cybersecurity strategies to protect their clients, maintain ethical and legal compliance, and fortify their digital infrastructure.
WEBINAR: Using Equity/Ownership Incentives to Retain Key Employees
This webinar will provide an overview of how to evaluate and implement strategies to retain your key employees and executives using equity based incentives.