What’s going on:
- Hedge fund JW Asset Management and former NBA star Chris Webber launched a $100M private equity fund to support equity cannabis businesses.
Reuters - A SPAC backed by Tuatara Capital raised $175M to acquire PotCos.
MJBiz - Court filings said a former CEO of Eaze will face federal charges in a case accusing two businessmen of tricking banks into processing $100M in cannabis credit card payments. It’s not clear what charges he will face. Eaze has not been charged, denies wrongdoing and says it cooperated with investigators. (Paywall)
Law360 - Court filings suggest who invested $100M in MSO Green Thumb Industries.
New Cannabis Ventures - Cannabis Wire scoops that plaintiffs suing the city of Los Angeles over equity have proposed a settlement in order to accelerate the licensing process. (Paywall)
- 2020 pot sales in Colorado fell just short of $2.2B.
Westword - An equity oriented REC bill advanced in New Mexico.
KOB - Some suggest the Biden administration could be supportive of the medical psychedelics agenda.
Rolling Stone - It’s not surprising that some early cannabis titans have fallen writes lawyer Robert Hoban.
Forbes - A cannabinoid company backed by David Beckham plans to list in London.
Sky - A SoCal mother’s search for her missing budtender son showed her the dark side of the cannabiz.
L.A.Times
