Investor Presentaiton
APPENDIX
298 million Americans have access to legal cannabis
While cannabis is still illegal federally, access is widespread
and there is significant momentum for additional medical and
adult-use legalization
Key Legalization Updates
NOVEMBER LEGALIZATION ACTIVITY
• New Jersey and Arizona voters approved adult-use consumption
Montana approved adult-use legislation
• Mississippi voters approved medical-use consumption
• South Dakota approved measures legalizing medical and adult use,
considered to be an industry first
Medical-use
Adult-use
1. See "Forward-Looking Statements" disclaimer on pages 3-4.
SAFE BANKING ACT
SECURE AND FAIR ENFORCEMENT BANKING ACT
Creates protections for banks that provide financial services to legitimate
cannabis businesses; broad bipartisan support in the House
• Bill passed U.S. House of Representatives in 2019
STATES ACT
STRENGTHENING THE TENTH AMENDMENT THROUGH ENTRUSTING STATES ACT
. Amends Controlled Substances Act of 1970 to exempt from federal
•
enforcement individuals or corporations in states who are in compliance with
state, territory, district, or tribal laws in relation to cannabis
Reintroduced in April 2019 and likely to pass in next 18 months with
Democratic control of Senate¹
MORE ACT OF 2019
MARIJUANA OPPORTUNITY REINVESTMENT AND EXPUNGEMENT ACT
• Would decriminalize and deschedule cannabis at the federal level, and
expunge certain cannabis-related offenses
• 5% federal sales tax would fund job training, small business loans, and
minimize barriers to licensing
• Symbolic House vote passed in December 2020
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