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04/29/2022

Hello Facebook friends!

It has been a minute since our last post. We were waiting for something really big to post about. Unfortunately, we found it.

Many of you are probably aware of HB3208. That bill does two things: (i) it gives the OMMA Director the power to institute a moratorium effective July 1, 2022, and (ii) it mandates a two-year moratorium beginning August 1, 2022 (though the OMMA Director has the power to lift it sooner). Theoretically, the OMMA Director could institute a moratorium on July 1st, but we do not believe that she could make it effective prior to August 1st given that HB3208 contains language expressly allowing folks to submit applications through August 1st.

Here is the bad or good news (depending on your perspective): as of yesterday, both chambers of the Oklahoma Legislature have passed HB3208. This means that the law will be sent to the Governor, who we believe will sign it.

Here are the key takeaways: (i) if you were thinking about obtaining a ma*****na business license in Oklahoma, you need to act fast, or you will have to buy an existing one, and (ii) those with an existing license without legal warts just got a lot more valuable.

If you are wanting to apply for a license prior to the moratorium going into effect and need some help, please do not hesitate to give us a call. We are quite good at licensing and are happy to help.

And if you are wanting to sell your business, it's time to start getting it in order Take the time now to evaluate your current structure and compliance program. You want to position yourself in the best way possible, which may require you to submit a license application prior to the deadline. We can help.

You can call or text us at 405-719-8297. If you prefer email, send it to us at [email protected].

01/18/2022

The man, the myth, the legend, Michael Betts and his legal partner Spencer break it down on everything you need to know (and more) 🤣 on trusts and the Oklahoma cannabis industry!

On this episode of the BC Counselors Legal Brief, Mike and Spencer examine the complexities of the Oklahoma cannabis industry and how those complexities could impact business and estate planning.

01/17/2022

Lifted logix can help take your business from the picture on the left, to the one on the right!

Accurate.

10/02/2021

Recent OMMA statement :

The newest director of the Oklahoma Medical Ma*****na Authority said the agency is undergoing a “hard reset” to catch up on compliance checks and ensure product safety.

09/15/2021

https://tulsaworld.com/news/local/ma*****na/medical-ma*****na-compliance-efforts-highlighted-as-deadline-to-hire-more-staff-looms/article_b7b29d2e-117f-11ec-a801-eb23d9445e8b.html

During an interim study to address the relationship of medical cannabis businesses to others in the agriculture industry, OMMA reported progress of "about 40%" to having businesses undergo a full

08/23/2021

https://kfor.com/news/local/its-never-been-anti-medical-ma*****na-ever-new-omma-executive-director-says-shes-not-anti-ma*****na-after-2018-opinion-piece-resurfaces/

The new Oklahoma Medical Ma*****na Authority executive director said she is not anti-ma*****na Friday after an opinion piece she wrote against the passing of SQ 788 resurfaced.

The new Oklahoma Medical Ma*****na Authority executive director said she is not anti-ma*****na Friday after an opinion piece she wrote against the passing of SQ 788 resurfaced.

08/19/2021

https://www.governor.ok.gov/articles/press_releases/governor-stitt-takes-action-to-address-challenges-

Governor Kevin Stitt named Adria Berry as the new executive director of the Oklahoma Medical Ma*****na Authority.

Official Website of the State Governor of Oklahoma

08/18/2021

Please see the screenshots below for an update on the METRC lawsuit.

08/18/2021

Department of Justice U.S. Attorney’s Office Western District of Oklahoma FOR IMMEDIATE RELEASE Tuesday, August 17, 2021 Oklahoma City Man Pleads Guilty to Making False Statement to Bank to Open Account for Ma*****na Business Local Business Also Pleads Guilty to Laundering More than $770,000 in Ma...

08/16/2021

https://www.ganjapreneur.com/cannabis-derived-tax-revenues-in-oklahoma-up-56-from-2019-to-2020/?&utm_source=newsletter&utm_medium=email&utm_campaign=pharmacann_planning_1b_ipo_botched_police_raid_costs_cannabis_operator_millions_and_more&utm_term=2021-08-16

Medical cannabis-derived tax revenues in Oklahoma increased 56% from 2019 to 2020 to more than $66 million, News on 6 reports. Comparatively, in 2020, the state’s tax on ci******es brought in $71 million!

Medical cannabis-derived tax revenues in Oklahoma increased 56% from 2019 to 2020 to more than $66 million.