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John Fraser

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John provides cannabis businesses with the regulatory guidance and counsel they need to secure and maintain licensure. John has organized, guided, and secured state and local licensure for dozens of cannabis businesses of all sizes and types throughout Michigan.

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The adult-use marijuana market in Michigan has seen a plunge in the price of marijuana. According to the Cannabis Regulatory Agency, the average price of one ounce of marijuana in December 2020 was $350.88. In contrast, the average price fell to $109.22 in September 2022. This rapid price compression puts tremendous pressure on many marijuana businesses as they face greater competition with ever-slimming margins. For some, these market forces may present a financial or existential crisis.

Often, financially-distressed companies seek the protection afforded by federal bankruptcy courts to restructure their finances. There are several benefits to an overwhelmed debtor going through the bankruptcy process. As just one example, once a debtor files for bankruptcy, an automatic stay on actions prevents creditors from collecting against a debtor until the bankruptcy case is resolved or the Court allows the stay to be lifted. In addition, bankruptcy provides an orderly process that provides the debtor with the means of resolving creditor claims simultaneously.
Continue Reading Legal Options for Investors and Owners of a Financially Struggling Marijuana Business

The lazy stoner jamming out to Pink Floyd in his VW van? That trope is long gone. Today’s enthusiasts are a diverse collection that includes executives, parents, healthcare workers, and everyone in between. As new markets continue to emerge and legislative hurdles ease, M&A activity in the cannabis industry is primed for a big year. Here’s what to expect in 2023: 
Continue Reading M&A Industry Spotlight: Cannabis

On July 14, 2022, the Michigan Court of Appeals issued a published opinion in Cary Investments, LLC v City of Mount Pleasant—their second interpreting the application and licensing process within the Michigan Regulation and Taxation of Marihuana Act (MRTMA). Cary Investments, LLC is of critical importance for all licensees and prospective licensees who may find themselves facing a competitive or limited municipal license application process, as it details when a denied applicant must file an appeal of a denied application versus when a licensing and application process can be properly challenged in a lawsuit. This case also aims to answer questions that many applicants, prospective applicants, municipalities, and circuit courts have faced concerning the competitive municipal licensing process required by Section 9(4) of the MRTMA.
Continue Reading Rapid Growth of the Adult-Use Market Is Underscored by New Opinion From Michigan Court of Appeals

MRA - CRA

Effective April 13, 2022, the Michigan Marijuana Regulatory Agency has a new name—the Cannabis Regulatory Agency. On February 11, 2022, Michigan Governor Gretchen Whitmer issued Executive Order No. 2022-1, which made a number of significant changes to various Michigan administrative agencies.  

Notably, the Executive Order re-named the Marijuana Regulatory Agency to the Cannabis Regulatory Agency (“CRA”) and transferred the regulation and oversight of industrial hemp processing from the Michigan Department of Agriculture and Rural Development (“MDARD”) to CRA. Regulatory oversight and licensure of industrial hemp cultivation will remain with MDARD. 
Continue Reading Agency Name Change: Meet the Michigan Cannabis Regulatory Agency