In short, you don’t. So then, how does one go about buying an existing Cannabis license? First, you will need to amend the existing license(s) with the new ownership, while retaining one of the existing owners. Only after the ownership amendments have taken place can you remove the former owner without jeopardizing the license(s) active status.
Take my word when I say that transactions within the cannabis industry often encompass a multifaceted journey, rather than a single transaction. My approach is centered on understanding the intricate processes involved in transferring cannabis property and licensing, ensuring a smooth and seamless transition for all parties involved. Leveraging 6+ years of extensive experience over hundreds of licenses, I have crafted a comprehensive array of legal documents essential for structuring deals effectively. From negotiating Letters of Intent and drafting Property Leases to formulating Operating Agreements and Joint-Venture Agreements, I tailor our services to meet the unique needs of each transaction.
Understanding of the nuances of the cannabis industry will provide your project with a well-versed ability to address regulatory considerations, compliance requirements, and industry best practices, ensuring that every aspect of the transaction is executed with precision and legal compliance. My collaborative approach involves working closely with buyers and sellers to understand their goals and objectives, providing strategic guidance and personalized solutions tailored to their specific circumstances. Whether facilitating the transfer of cannabis property or licensing, my goal is to empower clients with the knowledge and support needed to achieve their business objectives effectively.
