Cannabis Crowdfunding

Remember those huge wildfires in Northern California last year? They burned through a number of state-legal (and illegal) cannabis farms.

The farmers started a crowdfunding campaign on YouCaring that were promptly closed as the site decided that since cannabis is still illegal under Federal law, it could not process the donor payments.

Now, new cannabis-oriented sites are springing up, like CannaFundr and Fundanna or 420FundMe. These sites claim to democratize the ability of the common man to invest in an industry that previously was available only to rich “accredited” investors.

Note also that there are publicly traded Canadian cannabis companies that have been, one assumes, vetted somewhat for the casual investor.

https://www.potnetwork.com/news/crowdfunding-turns-cannabis

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in accredited investor, balance, Banks, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, FINRA, Funding Portals, Investments, Jobs, Legislative Intent, review, SEC, Small Business and tagged , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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