CannaBusiness Advisory Spotlight William Schreier

CannaBusiness Advisory Spotlight William Schreier

The CannaBusiness Advisory Spotlight Series features expert perspectives from Burns & Levinson clients and contacts who are blazing new trails in the cannabis market.

This week we spotlight William Schreier, Principal and COO of KreditForce.

From your corner of the cannabis industry, what’s the single greatest challenge?

Like many emerging industries, the legal cannabis industry faces various challenges in raising capital efficiently and at attractive terms. The difficulty is even more pronounced in the early stages of a business’s life cycle. Founders, friends and family, and other angel-type investors often provide initial seed capital for the start-up phase. But most businesses exhaust this initial capital well before reaching stability and gaining access to traditional banks or other institutional financing. The vast majority of traditional financial institutions are still unwilling to lend to most aspects of the legal cannabis industry, leaving many cannabis-related businesses (CRBs) with few options to raise non-dilutive debt capital in modest size (e.g., < $20m) just as they are accelerating into their critical growth phase.

How does your business solve issues related to this challenge?

KreditForce LLC is an independent merchant bank dedicated to legal cannabis and related industries that are highly regulated. We … Keep reading

Interviewer | Frank A. Segall

Narbé Alexandrian is the President and CEO of RIV Capital, an investment and acquisition company specializing in cannabis in the U.S. market. Zachary George is the CEO of Sundial Growers Inc., a licensed cannabis producer based in Canada. Together they join partner and chair of Burns & Levinson’s Cannabis Business & Law Advisory Frank A. Segall to share insights and stories about their journeys into the cannabis space, business strategies, and what’s next on the horizon for the marijuana industry.

Click here to watch the full video.… Keep reading

Moderator | Scott Moskol

Payment, delivery and e-commerce platforms have been evolving, innovating, grabbing market share and attracting serious capital. Thought leaders from companies that are blazing trails in the cannabis industry with new technologies share strategies on how to be dominant players in the space.

Click here to watch the full video.… Keep reading

Moderator | Max Riffin

How is the cannabis industry accessing capital? What is the status of the M&A market? Are SPACs the new exit? How are deals being structured, and who are the active players? Our panel of experts consists of buyers and sellers, capital sources and advisers who offer answers rooted in firsthand experience.

Click here to watch the full video.… Keep reading

Navigating Regulation & Legislation: Where Are We Really Headed?

Moderator | Scott Moskol

The marijuana industry’s ever-evolving regulatory and legislative updates create layers of complexities and hurdles for businesses and investors – but can also generate ample opportunities. Our panelists will share opinions on the latest legal and political developments, predictions on what’s next, and strategies to take advantage of new opportunities and thrive in this shifting space.

Click here to watch the full video.… Keep reading

The Cannabis Administration and Opportunity Act: Too Much Too Soon? Too Little Too Late? Or Just the Right Time?

On July 14, 2021, Senators Chuck Schumer, Cory Booker and Ron Wyden introduced a bill to legalize and regulate cannabis at the federal level, titled “The Cannabis Administration and Opportunity Act.” This short, impactful bill is sure to stir up controversy and polarizing debate among legislators when, and if, it ever reaches the Senate floor.

The deadline for public comment recently passed – September 1, 2021 – and, unsurprisingly, the drafters of the bill were flooded with input from special interests groups, including the U.S. Cannabis Council, the Marijuana Policy Project, a number of prominent universities and legal scholars, and the DC Fiscal Policy Institute.

While not required, it is likely the drafters of the bill will revise based on some of the comments received, with the actual filing of the bill to follow. Once filed, it will be sent to committee for continued revision and debate.

Recent polls state that 60% of Americans support the legalization of cannabis, but, despite the ideological promises of a representative government, popular support does not necessarily convert into affirmative votes on the Senate floor. The bill requires the support of every Democratic Senator and at least 10 Republicans.

Many Washington insiders are … Keep reading

Featured on CUInsight | Reading the Fine Print: Are Your Directors and Officers Protected?

Cannabis banking can offer many valuable financial benefits for credit unions choosing to serve the industry. However, implementing a well-managed, compliant cannabis banking program requires considerable planning and an understanding of all potential areas of risk. This includes ensuring that the credit union’s directors and officers are covered by their institution’s Directors and Officers (D&O) liability insurance policy. Shield sat down with corporate and finance-focused attorney Scott Moskol, a partner of Boston-based law firm Burns & Levinson and co-chair of the firm’s Financial Restructuring & Distressed Transactions and Cannabis Business & Law Advisory practices. Named an inaugural “Cannabis Trailblazer” by The National Law Journal in 2018, Scott has been providing corporate counsel to clients in the cannabis industry since 2013 and offers his insights on this complex issue.

Read the rest on CUInsight.com.… Keep reading

Cannabis Reform Hits the Senate: A Brief Overview of the Cannabis Administration and Opportunity Act

This past week, Senate Majority Leader Chuck Schumer (D-NY) unveiled the first draft of his long-awaited bill to legalize marijuana at the federal level. Along with Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ), Sen. Schumer presented the proposal at a July 14 press conference. Titled the Cannabis Administration and Opportunity Act, the legislation – which was partly modeled after the social equity-focused Marijuana Opportunity Reinvestment and Expungement (MORE) Act – largely aligns with advocate and stakeholder expectations.

See “MORE Act: Federal Cannabis Legalization Reintroduced in House” for discussion of the House legislation and its social equity provisions.

“Communities that have been most harmed by cannabis prohibition are benefitting the least from the legal marijuana marketplace,” reads the findings section of the bill, further noting that a “legacy of racial and ethnic injustices, compounded by the disproportionate collateral consequences of 80 years of cannabis prohibition enforcement, now limits participation in the industry.” If enacted, the senators’ bill would decriminalize and deschedule cannabis, expunge prior convictions, and allow the states to create their own marijuana policies.

The proposal is multifaceted and comprehensively addresses several critical issues:

  • Federalism: States may decide whether or how
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