While federal authorities have not cracked down on state legal cannabis, the WSJ reports a section of the Justice Department called the U.S. Trustee Program is blocking companies and people connected to cannabis from obtaining bankruptcy protection.
- The rules have been applied not only to plant-touching businesses but also to individuals who have worked in the industry and ancillary businesses.
Separately, a WSJ piece suggests interstate trade, should it arrive in a few years, could undermine indoor growers with high costs.
Quick Hits
- Atlanta-based Surterra Wellness raised $100M from investors including Ed Brown former CEO of the Patrón Spirits Company.
Press Release
- High Times is exploring OTC trading after failing to qualify for the NASDAQ.
MJBiz
