- REZYFi is a real estate-oriented mortgage company that primarily targets licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies
- The company is keen on capitalizing on possible opportunities brought by new and pending cannabis legislation
- Recently, the California Department of Cannabis Control sought the legal opinion of the state Attorney General’s office on whether or not interstate cannabis commerce will be viable, given the signing of a state bill to allow the transportation and distribution of cannabis products to other states
- Should the letter yield a positive opinion, legal interstate cannabis commerce could be a game-changer for the California cannabis industry
As states, which have been largely responsible for every advance in legal cannabis, of course, backed by the tolerance of the US Department of Justice, continue to evermore inch the industry forward, companies in the space are keenly watching. One of these is REZYFi, a real estate-oriented mortgage company that primarily targets licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies.
The bills, which expand the opportunities and market for REZYFi and other players in the space, have been introduced and/or signed into state law in a number of states, including California. In September 2022, Governor Gavin Newsom signed several bills to expand the legal cannabis market and remedy the harmful effects of bygone cannabis prohibition. Among these bills was Senate Bill 1326, which set the stage for licensed California marijuana companies to transport or distribute cannabis or cannabis products outside the state (https://ibn.fm/9Q7kW).
Specifically, it “would authorize the Governor to enter into an agreement with another state or states authorizing medicinal or adult-use commercial cannabis activity, or both, between foreign licensees, who are licensed under the laws of other state or states, and entities operating with a [California] state license…” (https://ibn.fm/GZ1et).
However, the bill stipulated that an agreement entered by the Governor can only take effect if one of four criteria is met, one of which requires the state Attorney General to issue a written opinion that the interstate cannabis trade “will not result in significant legal risk to the State of California under the federal Controlled Substances Act.”
It is pursuant to this criterion that the California Department of Cannabis Control (“DCC), through General Counsel Matthew Lee and Director Nicole Elliott, wrote a letter in late January asking the state Attorney General’s office its opinion on the matter. On their part, Lee and Elliott argued that interstate cannabis commerce would not result in significant legal risk to California (https://ibn.fm/iCV0C).
The letter has spawned a lot of excitement, with major players in the legal cannabis space calling it a significant development. Should it yield a positive opinion, legal interstate cannabis commerce is poised to be a game-changer, with some observers noting it could indeed prove profitable (https://ibn.fm/phMj0). It would, for instance, allow producers in California to access markets in new states, giving the state’s cannabis industry the tools it needs to drive growth.
According to an article in Forbes (https://ibn.fm/6Kaim), which quotes the head of Alliance for Sensible Markets, Adam Smith, interstate cannabis commerce bills “are indicative of a realization among forward-looking state leaders that state-siloed markets are unsustainable. In natural producer states like California, thousands of small farms and businesses are on the verge of collapse due to a lack of access to the markets these growing regions have traditionally served. In consumer states, where cannabis is more difficult or expensive to grow at scale, thousands of existing and potential small businesses will wait years for a still-limited and overpriced supply chain. Opening these markets will give those businesses immediate access to thousands of existing, world-class suppliers at more competitive pricing.”
REZYFi is uniquely positioned to benefit from the ever-evolving legal cannabis space. The company is led by a management team that has extensive experience in the cannabis and hemp marketplaces. This, REZYFi believes, allows it to understand the changing landscape of the cannabis industry and source the best opportunities in the sector. Additionally, the team holds significant managerial expertise and experience in a diverse range of real estate and financing subsectors, which allows the company to tailor financing packages to meet the unique needs of cannabis businesses. REZYFi is licensed in 36 states with offices in West Covina, California and Miami, Florida.
For more information, visit the company’s website at www.REZYFi.com.
NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://ibn.fm/REZY
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