Join TMA West Michigan for our Annual Luncheon Series Session 2 on
February 21, 2023
"Can the Cannabis Industry Continue to Stay the Same?"
In 2018, an initiative to legalize recreational use of Marijuana passed with 56% of the vote in Michigan. Cannabis companies arrived, flooding the market and creating a boom. Fast forward three and a half years, and the industry is changing again. Turnaround opportunities have hit the forefront and have many questioning, what is next?
Topics of panel discussion will include:
*Why the Michigan cannabis industry prices have fallen more than 75% since 2020, which is the greatest decline nationwide.
*How are local and private creditors responding to the current state of the industry?
*What state and municipal regulators are doing, or not doing, for the industry and their investors (legal and compliance).
*Pitfalls and potential wins for you and your clients in the industry.
You won't want to miss this lively discussion based on the current data. A Q&A session with the panelists will follow.
John Ruther (O'Keefe)
Michael Kozak (Union Bank of Michigan)
Mike manages the Cannabis Banking Group for Union Bank, a wholly owned subsidiary of Union Financial Corp that operates full-service offices in several Grand Rapids-area communities. He oversees all of the bank’s cannabis related customer relationships providing these customers with cash management solutions, commercial loans, consumer loans and consumer banking. He has nearly 30 years of financial industry experience including prior roles at Fifth Third Bank and Huntington Bank.
Jeffrey Schroder (Plunkett Cooney)
A partner in the firm's Bloomfield Hills office, Jeffrey M. Schroder serves as a Co-Leader of Plunkett Cooney's Cannabis and Health Care Industry groups.
Mr. Schroder focuses his practice in the areas of cannabis and liquor license applications and compliance, health care compliance and audit defense, fraud and embezzlement recovery, municipal law, and zoning/land use. His practice includes all aspects of state and local regulatory compliance, as well as related business issues, including license approvals, transactions, real estate and related litigation.
Christopher Rosmarin (Rehmann)
Chris manages the commercial audit practice in Grand Rapids and also leads the firm’s cannabis and financial due diligence practices. He provides financial statement audit and review services, financial due diligence services (quality of earnings) and accounting advisory services to various companies across industries.
Service Areas include: Manufacturers and distributors, Cannabis, Agriculture, Retailers, Technology companies, Service industry companies, Due diligence Review and Private equity portfolio audits