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Colorado Natural Medicine Program Draft Rules Released And Public Hearing Scheduled

By Barine Majewska
Apr 24, 2024

DORA recently presented additional draft rules for Colorado’s regulated natural medicine market to the Natural Medicine Advisory Board, focused on facilitator conduct and relationships, administrative sessions, informed consent, record keeping and advertising. DORA will host a virtual public hearing on the new rules on April 26 and the Natural Medicine Division of the Department of Revenue will host a stakeholder meeting on Healing Center requirements on May 1. These are important opportunities to make your voices heard! Read this article for details on the rules and instructions for joining the meetings.

Colorado Natural Medicine Advisory Bulletin #10.1: Legislative Update

By Vicente LLP, Psychedelic Alpha
Apr 9, 2024

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #10.1 features Vicente LLP's review of SB 24-198, the first legislative update since the passing of SB23-290 in 2023, which implemented the NMHA.

Colorado Natural Medicine Advisory Bulletin #10: March 2024

By Vicente LLP, Psychedelic Alpha
Apr 6, 2024

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #10 focuses on updates from the recent meeting of the Natural Medicine Advisory Board, where draft rules for Facilitator licensing and training were discussed.

Vicente Attorneys Will Sponsor and Attend Bridging the Worlds Psychedelics Conference

Apr 5, 2024

On April 18, 2024, Vicente LLP attorneys Joshua Kappel and Barine Majewska will attend the “Bridging the Worlds: The Confluence of Indigenous Wisdom and Psychedelic Science” conference at the University of Colorado Anschutz Medical Campus in Aurora, CO. Vicente is a sponsor of the event, which will explore the future of psychedelic research in the context of its historical and cultural significance.

[Webinar] From Maryland Lottery to Cannabis Business License: Priorities, Strategies & Solutions

Apr 5, 2024

Watch this informative webinar with members of Vicente’s Maryland and Corporate teams and Cannabis Capital Advisors’ Christopher Stefan. Panelists will guide attendees with essential next steps to successfully navigate Maryland’s cannabis industry, including insights into the application review process, compliance requirements, and financing options for raising capital to build an operational cannabis business in Maryland.

Colorado Natural Medicine Advisory Bulletin #9: February/March 2024

By Vicente LLP, Psychedelic Alpha
Mar 20, 2024

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #9 focuses on updates from the recent meeting of the Natural Medicine Advisory Board and listening sessions held by the Department of Revenue and the Department of Regulatory Agencies Stakeholder Engagement Meeting.

Colorado's Draft Natural Medicine Rules: Full Breakdown & Commentary

By Vicente LLP, Psychedelic Alpha
Mar 5, 2024

Vicente LLP provides a full breakdown of the first set of draft rules regarding Colorado's regulated psychedelics program. The thirty-nine pages of draft rules cover facilitator licensing and training programs, representing months of work by the Natural Medicine Advisory Board and state regulators.

New Year, New Rules: Updated Oregon Psilocybin Services Regulations Now in Effect

By Yolanda Clarke
Feb 27, 2024

Oregon's psilocybin program has updated its regulations, clarifying existing rules and addressing new areas like data reporting and facilitator training. Key changes involve distinguishing between mandatory anonymized data collection and optional personal information from clients, requiring state licensing or specific exemptions for facilitator training programs, and emphasizing nondirective facilitation with support resources instead of advice. Read this Insights post to learn more about the recent rule changes for psilocybin in Oregon.

Colorado Natural Medicine Advisory Bulletin #8.1: Recommendation Round-Up

By Joshua Kappel, Jeff Fitzgerald, Psychedelic Alpha
Feb 15, 2024

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #8.1 gives context to the 123 recommendations which will form the basis of the regulated nature medicine program approved by Colorado voters in November 2022.

Colorado Natural Medicine Advisory Bulletin #8: January 2024

By Joshua Kappel, Jeff Fitzgerald, Psychedelic Alpha
Feb 14, 2024

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #8 focuses on updates on the NMAB's initial set of recommendations for the state’s regulated natural medicine program

Colorado Natural Medicine Advisory Bulletin #7: December 2023

By Joshua Kappel, Jeff Fitzgerald, Psychedelic Alpha
Jan 18, 2024

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #7 focuses on updates from the recent subcommittee meetings.

Colorado Natural Medicine Advisory Bulletin #6: November 2023

By Joshua Kappel, Jeff Fitzgerald, Psychedelic Alpha
Dec 13, 2023

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #6 focuses on updates from the recent subcommittee meetings and the full meeting of the Natural Medicine Advisory Board.

A Potential Breakthrough for Psychedelic Treatments: Ninth Circuit Court Ruling on Psilocybin Rescheduling

By Jason Adelstone
Dec 7, 2023

On October 27, 2023, the Ninth Circuit Court of Appeals, in Aggarwal v. DEA, held that the U.S. Drug Enforcement Agency (DEA) must reconsider its denial of a petition to transfer psilocybin, the active ingredient in “magic mushrooms” from Schedule I to Schedule II. Read this Insights post for more information about the Ninth Circuit Court’s order to reschedule psilocybin.

Colorado Natural Medicine Advisory Bulletin #5: October 2023

By Joshua Kappel, Jeff Fitzgerald, Psychedelic Alpha
Nov 14, 2023

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #5 focuses on updates from the October subcommittee meetings and the full meeting of the Natural Medicine Advisory Board.

Colorado Psychedelics Implementation Update: DOR Natural Medicine Division Listening Sessions - Part 1

By Joshua Kappel, Jeff Fitzgerald, Psychedelic Alpha
Oct 24, 2023

As part of the pre-rulemaking process, the Colorado Department of Revenue's Natural Medicine Division began holding public “Listening Sessions” with the goal of gathering information from the public at large. The October sessions consisted of five, one-hour, online meetings focused on specific topics announced in advance. Read this article for a summary of the first five sessions.

Colorado Natural Medicine Advisory Bulletin #4: September 2023

By Joshua Kappel, Jeff Fitzgerald, Psychedelic Alpha
Oct 17, 2023

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #4 focuses on updates from the September subcommittee meetings and the full meeting of the Natural Medicine Advisory Board.

[Webinar] Preparing for New York Cannabis Business Licensing

Sep 14, 2023

New York's adult-use cannabis licensing is set to open in the fall, and members of Vicente LLP’s New York team and a special guest from Dutchie provide answers to the “who, what, where, when and how” questions on the minds of prospective Empire State cannabis licensees during this webinar replay.

Colorado Natural Medicine Advisory Bulletin #3: August 2023

By Joshua Kappel, Jeff Fitzgerald, Psychedelic Alpha
Sep 7, 2023

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #3 focuses on updates from the August subcommittee meetings and the full meeting of the Natural Medicine Advisory Board. In addition, the Department of Revenue will hold NMHA listening sessions throughout September.

Colorado Natural Medicine Advisory Bulletin #2: July 2023

By Joshua Kappel, Jeff Fitzgerald, Psychedelic Alpha
Aug 14, 2023

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #2 focuses on updates from the July subcommittee meetings and full meeting of the Natural Medicine Advisory Board.

Colorado Natural Medicine Advisory Bulletin #1: Background

By Joshua Kappel, Jeff Fitzgerald, Psychedelic Alpha
Aug 14, 2023

Colorado Natural Medicine Advisory Bulletins provide updates on the implementation of Colorado's legal psychedelics program, the Natural Medicine Health Act. Bulletin #1 focuses on the Natural Medicine Advisory Board: What is the board, how does the board work, what subcommittees exist, what have they done so far, and what's next?

City of West Hollywood Community Educational Forum on Psilocybin Features Psychedelics Attorney Joshua Kappel

Jul 12, 2023

Learn about and support psychedelic policy by attending a community educational forum on psilocybin, featuring Vicente LLP founding partner Joshua Kappel, at the West Hollywood City Council Chambers on July 25, 2023. The educational forum will explore the full spectrum of psilocybin-related topics, including a discussion of past and current legislation aimed at decriminalizing psilocybin mushrooms and other hallucinogenic substances.

Join Vicente LLP at Psychedelic Science 2023 in Denver

Jun 7, 2023

The largest psychedelic gathering in history is coming to Denver June 19-23 and Vicente LLP is ecstatic to sponsor the conference and welcome the global psychedelic community to our hometown. Let’s connect at the conference and the many networking events that week!

Legal Guide to Decriminalized Natural Medicine in Colorado

May 29, 2023

Colorado is the first state to decriminalize natural psychedelics for personal and communal use. This guide contains information on personal use, civil protections, and Colorado's regulated natural medicine access program. Natural psychedelics remain illegal under federal law. Please be conscientious and know the laws.

The Ultimate Guide to SB23-290, Colorado’s Natural Medicine Regulation and Legalization Bill

By Joshua Kappel, Juliana Todeschi, George Winfrey
May 24, 2023

Another key step in bringing natural psychedelic medicine to Colorado was completed this week. Governor Polis signed SB23-290, the Natural Medicine Health Act’s implementation bill. This bill is the most comprehensive piece of legislation ever passed by a state government related to a state-authorized natural psychedelic medicine program. It builds upon the values of the NMHA with a renewed focus on indigenous voices, safety, and regulatory efficiency. The measure goes into effect on July 1, 2023. Read our full analysis of the bill.

Revised New York Adult-Use Cannabis Regulations: What You Need to Know

By Michelle Bodian, Elliot Choi, Brandon Kurtzman, Charles Alovisetti
May 11, 2023

On May 11, 2023, New York’s Cannabis Control Board voted to approve the revised adult-use cannabis regulations. The Office of Cannabis Management (OCM) has indicated adult-use cannabis applications will open up in the fall, meaning these revised regulations will function as our roadmap. This article outlines key changes in the revised regulations.

Buying a Ketamine Clinic: Why, How, and Risks to Understand

May 11, 2023

With ketamine being the only approved psychedelic drug for medical use, ketamine clinics offer a unique opportunity for investors and entrepreneurs looking to enter the expanding market of innovative mental health therapies. In this article, we will explore the reasons behind the growing demand for ketamine clinics and the unique regulatory considerations involved in transactions involving these businesses.

Key Aspects of New York's Cannabis Law and Draft Regulations

By Charles Alovisetti
May 8, 2023

New York's Cannabis Control Board meets this week and a revised set of draft regulations, reflecting comments from the initial period, is expected to be released before the meeting. Attend our webinar on May 17 for a deep dive into the revised regulations.

What You Need to Know About SB23-290, Colorado’s Natural Medicine Health Act Implementation Bill

By Genevieve Meehan and Sara Simons
May 3, 2023

Since its introduction on April 18, SB23-290, the implementation bill for the Natural Medicine Health Act (NMHA), made its way through the Colorado Legislature and now awaits the governor's signature. Although the bill started off with a couple of policy positions that were antithetical to the voter-initiated act, after a series of amendments and a lot of work by Colorado activists and lawyers, it seems clear SB23-290 builds off the intent of the NMHA to create a natural psychedelic ecosystem in Colorado based in equity and safety. Read this Vicente Insights post for key aspects of the bill.

Colorado Psychedelics Update: State House of Representatives Passes Natural Medicine Health Act Implementation Bill SB23-290 with Amendments

By Joshua Kappel
May 1, 2023

Since its introduction on April 18, SB23-290, the implementation bill for the Natural Medicine Health Act (NMHA), made its way through the Colorado House and has now passed with amendments that have generally brought this bill even closer to the original intent of Prop 122! Read this Vicente Insights post for the latest updates and next steps for the bill.    

Colorado Psychedelics Update: Natural Medicine Health Act Implementation Bill SB23-290 Engrossed, Reengrossed, and Heading to the House

By Joshua Kappel, Juliana Todeschi
Apr 25, 2023

Since its introduction on April 18, SB23-290, the implementation bill for the Natural Medicine Health Act (NMHA), has gone through the Colorado Senate Finance and Appropriations Committees and several amendments have been made. The reengrossed version of the now 91-page bill heads to the state House with a new sponsor, Representative Judy Amabile. Read this Vicente Insights post for the latest updates and next steps for the bill.    

[Webinar] Equitable Access & Psychedelics

Apr 13, 2023

Making psychedelic-assisted therapy and training opportunities accessible to historically and systematically oppressed populations is essential to creating a more equitable healthcare model. But how can this be achieved? Watch this webinar for a discussion on equity and psychedelics with professionals from Alchemy Community Therapy Center.

Forming Psychedelic Companies: 10 Lessons from the Cannabis Industry

By Charles Alovisetti
Mar 22, 2023

A new industry is emerging in the United States, and entrepreneurs in the psychedelics space must make critical decisions at the onset of new ventures regarding how to set up and structure their new businesses. Luckily, we have access to another industry with a complex legal framework and a patchwork of different state laws: cannabis. And after forming hundreds of cannabis companies with clients over the past decade, Vicente LLP has lessons to be shared.

[Webinar] Restructuring Options in Cannabis: Out-of-Court Workouts

Mar 15, 2023

Cannabis businesses facing insolvency can't access federal bankruptcy courts, but they do have restructuring options. One of those options is an out-of-court workout between lenders and borrowers. Watch this Vicente LLP session to learn the practical issues around out-of-court workouts and cannabis companies.

[Webinar] Restructuring Options in Cannabis: Receiverships

Feb 16, 2023

Cannabis companies facing insolvency must use state receiverships or out-of-court workouts to restructure an insolvent business. But what does that mean, and what is the right choice for your business? Watch our live session on the practical issues around the receivership of cannabis companies.

[Webinar] Psychedelic Opportunities in Oregon and Colorado

Jan 12, 2023

As states like Oregon and Colorado develop regulated pathways for people to get involved in the regulated psychedelics industry, possibilities—and questions—are increasing: What are the opportunities now, what’s next, and where? Get answers by watching this recorded session.

Oregon Psilocybin Services Releases New Proposed Rules and Public Comment Period

By Yolanda Clarke, Jamie Greenwood
Nov 16, 2022

In another exciting step towards implementing psilocybin services, the Oregon Psilocybin Services Section issued updated proposed rules under the Oregon Psilocybin Services Act this month, making significant changes to the previous iteration. Make your voices heard! The public comment period is open through November 21, 2022.

[Webinar] Cannabis & Psychedelics On the Ballot

Nov 1, 2022

The November 2022 ballot has those interested in cannabis and psychedelic policy reform on their toes. From supporting adult-use cannabis initiatives in Arkansas, Missouri, North Dakota, South Dakota, and Maryland, to potential psychedelic reform in Colorado, there is plenty of excitement!

Colorado Prop 122: A Transformative Measure Grounded in Equity and Healing

By Joshua Kappel and Tucker Wentz
Oct 11, 2022

Vicente Sederberg LLP is proud to stand with Natural Medicine Colorado and support Proposition 122. This measure not only provides safe access to natural psychedelic medicines, but does so in a way that is grounded in equity and conscious capitalism while also protecting legacy communities and existing medicine keepers.

The Natural Medicine Health Act of 2022: A Measure to Access Psychedelic Medicine in Colorado

By Colleen Mitchell, Yolanda Clarke
Oct 10, 2022

Prop 122 would create a regulated system for adults aged 21 and older to access natural psychedelic medicine, such as psilocybin, in a supervised setting to treat various mental health conditions. It would also allow for the cultivation, possession, personal use, and gifting of psychedelic medicine for adults aged 21 and older. Read this for an overview of the proposition’s key components.

Raising Private Capital in the Cannabis Industry

By Charles Alovisetti, Elliot Y. Choi, and Sahar Ayinehsazian
Sep 29, 2022

Charles Alovisetti, Elliot Y. Choi, and Sahar Ayinehsazian write for the Bloomberg Law, reflecting on the challenges and journey of raising private capital in the cannabis industry

Charles Alovisetti to Present Cannabis Real Estate Financing CLE

Jul 1, 2021

The CLE, titled "Financing Cannabis-Related Real Estate: Structuring Options, Enforcement Issues, Regulatory Hurdles" will analyze legal and practical issues borrowers and lenders need to consider when documenting and funding a loan transaction secured by cannabis-related real estate.

What is a Cannabis REIT?

By Charles Alovisetti, Cassia Furman
Apr 23, 2021

To many in the cannabis industry, REIT is not a common acronym. Yet, as cannabis businesses seek ways to raise funds, REITs are coming up in more and more conversations.

What is a Cannabis SPAC?

By Charles Alovisetti and Ilya Ross
Feb 19, 2021

With wary investors and a minimal number of FDIC-insured bank lenders in the space, cannabis entrepreneurs are running out of options to raise capital. SPACs create a unique opportunity to fill the current vacuum of capital in the cannabis industry.

Coronavirus and Cannabis: Colorado Regulatory Updates

By Charles Alovisetti, Corey Cox, Justin Johnson, Andrew Livingston, Jessica Scardina, Jordan Wellington, Catie Wightman
Jan 11, 2021

Vicente Sederberg is monitoring the potential impact of the coronavirus (COVID-19) on cannabis businesses, service providers, and consumers in Colorado.

The Impact of COVID-19 on the Cannabis Industry

By Charles Alovisetti, Sahar Ayinehsazian, Andrea Golan
Nov 5, 2020

The coronavirus and efforts to contain it have led to changes in the regulatory landscape and consumer behavior that are likely to shape the cannabis industry moving forward. In spite of COVID-19, or perhaps because of it, the cannabis industry is thriving, and will continue to do so as long as demand remains strong and operators adhere to the rules and regulations designed to keep consumers and employees safe.

Raising Private Capital in the Cannabis Industry

By Charles Alovisetti, Elliot Choi, Sahar Ayinehsazian
Sep 18, 2020

Raising private capital continues to be a challenge for the nascent cannabis industry, but there are proactive steps companies can take to maximize the chance of a successful raise.

Guide to Closing Cannabis Transactions Between Private Companies

By Charles Alovisetti, Elliot Choi, Ben Leonard, Jeremy Shaw
Aug 6, 2020

Conducting a closing is one of the more stressful tasks for junior and even senior attorneys. When a deal is ready to close, most of the principals and businesspeople are finished with their work, but lawyers are not out of the woods yet.

Avoiding Massive Delaware Franchise Tax Bills

By Charles Alovisetti
Jun 24, 2020

Forming a Delaware corporation is a good idea for some cannabis startups, but often results in a hefty Delaware franchise tax bill. In this article, we explain why you might actually owe less.

Exploring Alternatives to Bankruptcy for Cannabis Businesses

By Charles Alovisetti, Phil Silverman, Jason Adelstone
Apr 17, 2020

Bankruptcy law provides advantages for financially distressed companies to restructure debt while continuing to operate. Without access to U.S. Bankruptcy Code protections, marijuana companies must turn to out-of-court restructurings and state law insolvency proceedings.

How to Get a Medical Marijuana Card via Telemedicine

By Charles Alovisetti, Brandon Kurtzman
Apr 16, 2020

Since COVID-19 has limited patient ability to get in-person consultations and examinations with health care providers, how does one go about obtaining a medical marijuana patient certification?

Public Companies Can Now Own Cannabis Licenses in Colorado

By Charles Alovisetti, Jessica Scardina, Ben Leonard, Carl Werner, and Justin Johnson
Nov 18, 2019

HB-1090 is live and Colorado's cannabis industry is officially open to publicly-traded companies and out-of-state investors. Find out what we've learned so far about this brand-new system.

Blue Sky Laws and the Cannabis Industry

By Charles S. Alovisetti, Partner
Oct 7, 2019

In addition to federal securities laws, each state and territory has its own securities laws, often referred to as blue sky laws. Cannabis company compliance with these rules may be more important due to heightened regulatory scrutiny.

Can Hemp Companies Declare Bankruptcy?

By Charles S. Alovisetti, Partner; Phil Silverman, Counsel; Jason Adelstone, Law Clerk
Sep 27, 2019

One of the many issues arising out of the tension between state and federal law in the cannabis industry is whether cannabis companies can access the protections of federal bankruptcy law.

How to Sell Hemp Food Products Without Breaking the Law

By Charles S. Alovisetti, Partner
Sep 19, 2019

Despite news headlines saying that hemp is federally legal, many hemp-derived food products and supplements currently sold in the US are in violation of federal law. But some hemp food products can actually be sold in complete compliance with US Federal law. How so?

Budding Companies Part 3: Governance, Exits and Investors

By Charles S. Alovisetti, Partner
Sep 9, 2019

The third post in our “Budding Companies: Forming Cannabis Startups” series, where we explore different issues involved in the formation of new marijuana and hemp companies. In this post, we will focus on governance, exits, and investors.

Budding Companies: Forming Cannabis Startups

By Charles S. Alovisetti, Partner
Sep 6, 2019

The first post in our “Budding Companies: Forming Cannabis Startups” series, where we explore different issues involved in the formation of new marijuana and hemp companies. In this post we will focus on entity choice and taxation.