Dear Clients & Colleagues,

In 2020, new capital has been hard to come by for cannabis operators of all shapes and sizes. For going-concern or start-up equity applicants and companies, the right partner who understands the nuances of local requirements and aligns with your values can seem like a unicorn. In any case, whether your company is seeking a strategic partner to either expand or monetize your holdings, this can be a particularly challenging period.

In an effort to help our clients in search of the right mergers & acquisitions deals, we’ve partnered with a group of attorneys, accountants and investment bankers in a new initiative called the “ CA Cannabis Partnership Marketplace ” (More details below.) The focus of this project is to help you source, engage, communicate, and hopefully transact with similarly situated or interested cannabis operators, subject to strict confidentiality agreements executed between the parties.

Interested in learning more?
Opt-in to the CA Cannabis Partnership Marketplace here:
Once you have done so, additional information will be shared to further refine where your potential interests are. 
The firm will extend discounts on attorney rates for qualified equity applicants and operators participating in the marketplace who find a good match.
We are here to help. Let us know if you have any questions. 
Warm regards,
Ariel & Nicole

CA Cannabis Partnership Marketplace

Licensed California cannabis companies are finding it difficult to grow. Raising capital (debt or equity) or selling to a Canadian PubCo, two common paths to achieving scale, are currently non-existent for all but a few operators. While these doors may be closed, there are alternatives to the increasingly difficult path of “going it alone”. These options include:

  • Merging with a like-minded operator
  • Acquiring a business or a specific asset from another operator
  • Divesting an asset that has become non-essential
  • Selling to a larger private operator


To assist companies consider these and other opportunities, a coalition of lawyers, investment bankers and CPAs have established the CA Cannabis Partnership Marketplace. This ecosystem is designed to match the strategic needs of cannabis companies with others who are interested in combining forces as a path to scalable growth. The objective is to solidify and strengthen CA cannabis through the formation of partnerships that will be highly desirable when the capital markets open up.

How to Participate

There are three ways cannabis companies can participate. 
1.  Company – Your company can participate as a conduit to merge or acquire others. 
2.  Divestitures – You can divest an underutilized asset and “sell” that to a transaction of others.  
3.  Licenses – You can offer licenses and/or real estate assets for some form of compensation. 

The Process

At the 30,000-foot level the process is as follows:

Phase 1: Opt-in (May & June)

Interested companies opt-in to the process and provide a high-level overview of the core assets they are looking to sell, merge or divest. All companies that provide this information will be able to review similar data submitted by others to determine if there is a potential fit. Phase 1 will be 100% confidential – no company names will be associated with the shared data.

Phase 2: Relationship building (Q3 July-Sept)

Phase 2 begins with a “speed-dating” phase with the goal of matching participants with others that have similar interests. This phase is where companies begin to communicate with specific targets regarding a possible transaction. This phase includes guidance from coalition members on a wide range of topics that are critical to creating successful transactions. Phase 2 will end with the execution of a term sheet between the parties. 

Phase 3: Transaction (Q4 Oct-Dec)

Phase 3 is the transaction. In this phase coalition members, as selected by the companies, will assist with agreed to services including, as applicable, the drafting, signing and closing of the transaction*. This will include a host of topics including reverse due diligence, tax and deal structuring, integration planning and more. Ideally the deals will close prior to the end of 2020 and the “NewCo’s” will be positioned to be market leaders in 2021 and beyond. 
Click Here to Learn More and Opt-In by June 30
[1] Disclaimer: Coalition members are separate entities and each coalition member provides different services. Any assistance provided by a coalition member will be pursuant to an agreed upon engagement letter that defines the services to be provided.
We stand with you:
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– Ernestine Rose


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If you have any questions about how the above or would like to discuss how it could impact your business, please contact your attorney directly or call our main line at 877-257-2442.

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