Banking Archives

Gretchen GaileyJuly 15, 2021

Editors Note: This is an opinion piece. Wednesday afternoon Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) unveiled the discussion draft of their long-awaited cannabis legalization bill, the Cannabis Administration and Opportunity Act. The legislation would federally deschedule the plant, while allowing states to continue […]

Debra BorchardtApril 19, 2021

Cannabis legalization advocates must be feeling a sense a deja vu. Today, the House of Representatives approved legislation (again) that would provide safe harbor for financial service providers to work with cannabis businesses that are in compliance with state laws. Called the SAFE ACT, (Secure and Fair Enforcement) Banking Act, or H.R. 1996, was reintroduced […]

Debra BorchardtJanuary 19, 2021

Cannabis software company Blackbird and payment processor company AeroPay announced a strategic partnership to bring cashless payments to cannabis businesses for online ordering. Blackbird was sold in November 2020 by its parent Tilt Holdings (OTC: TLLTF). Tilt agreed to sell Yaris Acquisition, LLC better known as Blackbird to Slam Dunk, LLC, a Nevada limited liability […]

Debra BorchardtApril 1, 2020

MPG Consulting has recently authored a report looking at the potential of Cannabis Municipal Bonds (CMB). Adam Orens, Founder of MPG and Sal Barnes, Managing Director, MPG have conducted a theoretical analysis using Colorado showing how the state can translate its cannabis revenue into a short-term bond amount of $166 million and long-term bond issued […]

Debra BorchardtMarch 3, 2020

Ceres Group Acquisition Sponsor and Ceres Acquisition Corp. closed on its initial public offering (IPO) of $120 million of Class A restricted voting units of Ceres. Ceres is a newly organized special purpose acquisition corporation (SPAC) incorporated under the laws of the Province of British Columbia for the purpose of acquiring one or more businesses […]

StaffMarch 2, 2020

Not only do cannabis companies face banking challenges, but the employees also face the stigma of the big green leaf. Banks are notoriously conservative when it comes to cannabis and that hurts employees who just want a car loan or a mortgage. The founders of cannabis logistics company Hardcar, saw first hand the struggles with […]

Debra BorchardtDecember 4, 2019

On Tuesday, The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN), and the Office of the Comptroller of the Currency issued a statement clarifying banking rules around hemp customers. Key Takeaway The key takeaway from the statement is that banks no longer need […]

StaffNovember 19, 2019

The Flowr Corporation The Flowr Corporation (TSXV: FLWR)(OTC: FLWPF) reported that it has closed its previously announced credit facility from a syndicate of lenders led by ATB Financial and including Farm Credit Canada. The $25 million facilities consist of a $24.5 million recapitalization term facility and a $500,000 revolving operating credit facility. Flowr will receive […]

Debra BorchardtOctober 23, 2019

Casa Verde, a venture firm that counts Snoop Dogg as a partner, led a $7 million financing round for cannabis short-term lender Bespoke Financial. Bespoke Financial was launched in 2018 by co-founders Benjamin Dusastre, Pablo Borquez-Schwarzbeck and George Mancheril. “While the US legal cannabis market is forecasted to grow over 20% annually, reaching $23B by 2022, […]

StaffSeptember 26, 2019

House Takes First Step Toward Federal Validation of the Marijuana Industry: Votes 321 to 103 to Pass the SAFE Banking Act In a showing of bipartisan support, the House of Congress voted 321 to 103 to pass the SAFE Banking Act. Of those voting yes, 229 were Democrats and 91 were Republicans. Unity amongst Democrats […]

Lykos Therapeutics Secures $100M in Series A Funding, Rebrands from MAPS PBC

Functional Mushrooms Move Into Mainstream as Wellness Trend Grows

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Category: Banking

SAFE Banking Is NOT About Rich People Getting Rich

Cannabis Banking Act Passes House – Again

Blackbird, AeroPay Join Forces For Cashless Payments

Cannabis Municipal Bonds Could Be The Future

Ceres Closes $120 Million SPAC, Begins Trading On NEO Exchange

Cannabis Employees Now Have A Banking Option

Banks Cleared For SARS Reports With Hemp Farmers

Money Moves: Flowr, Meta Growth

Casa Verde Leads $7M Round For Bespoke Financial

House Takes First Step Pass the SAFE Banking Act

The Daily Hit - TEST TEST TEST

Lykos Therapeutics Secures $100M in Series A Funding, Rebrands from MAPS PBC

Functional Mushrooms Move Into Mainstream as Wellness Trend Grows

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