With congressional leaders appointing key lawmakers to negotiate the final form of a broad manufacturing and innovation bill in recent days, many advocates and stakeholders are hopeful it will be the vehicle to finally enact protections for banks that work with state-legal marijuana businesses—as the House included in its version of the large-scale legislation that’s now heading to a bicameral conference committee. Already, there are signs that the bipartisan Secure and Fair Enforcement (SAFE) Banking Act could be a focal point for negotiators, with the chairwoman of the House Financial Services Committee on Monday listing the bill as one of her panel’s legislative “priorities” as lawmakers move closer to the conference. The measure’s sponsor also emphasized that a strong majority of members appointed to the conference committee have already either cosponsored or voted for marijuana banking legislation in the past. Rep. Maxine Waters (D-CA) didn’t explicitly say how hard she would fight for the cannabis measure’s inclusion in the final package in her capacity as a conferee, but she made a general comment about how Democrats have pushed for policies meant to maximize economic impact and said that cannabis banking reform would both support state markets and provide public safety protections.

Kyle Jaeger, Marijuana Moment, 04/11/2022 17:41:00

Open article: https://www.marijuanamoment.net/marijuana-banking-push-set-to-be-revived-as-congressional-leaders-appoint-negotiators-on-large-scale-manufacturing-bill/

A Southwestern Ontario pot producer that bills itself as Canada’s first female-focused cannabis company filed for creditor protection as it faces a “critical cash shortage.” Article content An Ontario court has approved a request by Eve and Co., a licensed cannabis grower that operates a massive greenhouse in Strathroy, to sell assets and seek investment after it was granted protection under the Companies Creditors Arrangement Act (CCAA). “The creditor protection is kind of a temporary holding status,” said Michael Armstrong, a professor at Brock University’s Goodman School of Business who studies the cannabis industry. “All of the current debts are kind of frozen. Now, any new loans under creditor protection, are protected by the court. It allows the company to bring in more money, enough to keep it running.” Eve and Co., a publicly-traded company listed on the TSX venture exchange, didn’t respond to a request for comment Monday. The company and its subsidiary, Natural Medco, was founded by Melinda Rombouts, who became the first woman to helm a cannabis producer after converting her Strathroy flower-growing greenhouse into a medical marijuana grow-op.

Mmp News Author, Medical Marijuana Program Connection, 04/12/2022 02:31:00

Open article: https://mmpconnect.com/local-cannabis-firm-seeks-creditor-protection-amid-critical-cash-shortage/