I've heard that it can be done and the SEC has been allowing these to go through. If you listen to the pundits, they say it is impossible in WA but I've read every rule and law since legalization and the only limit is this one:
The proposed sale of more than ten percent of the outstanding or issued stock of a corporation licensed under chapter 3, Laws of 2013, or any proposed change in the officers of such a corporation, must be reported to the *state liquor control board, and *state liquor control board approval must be obtained before the changes are made. A fee of seventy-five dollars will be charged for the processing of the change of stock ownership or corporate officers.
And also an investor can't have an interest in both a producer/processor and retailer at the same time.
And maybe this: The source of funds identified by the applicant to be used for the acquisition, startup and operation of the business is questionable, unverifiable, or determined by the WSLCB to be gained in a manner which is in violation by law.
So basically some reporting and screening is all that's necessary. Kinda like know your investor type stuff.
Am I missing something? What's a good cheap penny stock that would be suitable for a takeover? How much money does this typically take to pull off? What's a good sub for people looking to invest in cannabis?
Submitted July 11, 2020 at 07:12PM by MrNeurotypical https://ift.tt/2W9UMpb
