THE HIGH ROAD: FINANCING YOUR COMPANY #1 - DEBT VS. EQUITY
You've got the seeds of a million dollar business - maybe you've been growing weed for years and you've been developing new strains and varietals, maybe you've discovered the most efficient way to extract oil from cannabis and hemp, or maybe you make the best pot brownies any of your friends have ever tried. But how do you get started? What's the first step to making it all happen? In the immortal lyrics sung by Liza Minelli in Cabaret, “Money makes the world go around, the world go around, the world go around – a mark, a yen, a buck or a pound – is all that makes the world go around…”. While Neil DeGrasse Tyson might happily explain that gravity, not money, actually makes the world go around, there’s no doubt about the importance of money in making things happen - whether you’re building the next Aurora or just creating the local craft cannabis cultivation business you’ve always dreamed of, you’re going to need some kind of financing. If this resonates at all with you, we hope you’ll find this series of articles helpful for learning about methods of raising money, where money comes from, and how to stay on the right side of the law when raising money.
FH&P Lawyers LLP welcomes Simon Shakibaei to the Firm
Originally from New Brunswick, Simon obtained his Bachelor of Science from Mount Allison University in 2005, and his Bachelor of Laws from the University of New Brunswick in 2011. He was called to the Alberta bar in 2012 and has successfully appeared at all levels of court in Alberta. Simon was called to the British Columbia bar in 2018. Simon's experience includes acting as second counsel in negotiating a highly lucrative funding agreement with the provincial government on behalf of a professional association. He obtained his first reported decision during his articles, in an international child abduction matter: J.S. v. R.M., 2012 ABPC 184. Prior to joining FH&P Lawyers LLP, Simon worked at a firm specializing in construction law matters. Simon's preferred area of practice is in litigation and dispute resolution with an emphasis on construction-related disputes including builders' liens, construction contracts and delay claims. Simon's focus is on providing clients with pragmatic and cost-effective solutions where possible.
The High Road: Growing Pains, The Transition from Illicit to Legal Cannabis
Recreational cannabis has been legal for almost a week now, and as expected the sky has not fallen. It’s almost like the crazed mania portrayed in the infamous 1936 film entitled “Reefer Madness” may have been a tad inaccurate. We are now in a transition period from dispensaries selling medical or illicit cannabis to attempting to obtain licenses to operate onside of the new Cannabis Act.