We proceed to symbolize myriad patrons and sellers of OLCC marijuana licenses. At any given time, we’re working 10-12 of those transactions, and typically extra, as now we have for a few years. Not too long ago, there have been just a few adjustments value noting, notably as to the OLCC protocols. I’ll contact briefly on different market dynamics, too.
The OLCC updates
a. Quick software assignments
Gone are the times of patrons and sellers ready months to listen to from an OLCC investigator, following submission of a change-of-ownership software. The OLCC’s “processing dates” page experiences that change-of-ownership functions at the moment are being assigned and processed by September 3, 2025 submissions. That’s not correct. For the previous month or so, we’ve seen a collection of functions assigned inside every week or two of submissions. These are shifting quick.
b. Accomplished functions required
OLCC licensing workers have begun to pre-screen submissions, and they’re returning functions that lack required paperwork. The previous observe of candidates importing placeholder paperwork will not be accepted. The thought right here is to make sure organized candidates aren’t pressured to attend in line behind their disorganized counterparts, inflicting a bottleneck. Going ahead, incomplete functions will solely be positioned into the project queue as soon as all lacking paperwork are offered.
c. 60-day project interval going away
In case you missed it, OLCC filed a Notice of Proposed Rulemaking on September 25, 2025. The chief function was to implement 2025 laws, however some technical updates made their means in, as properly. Amongst these are OAR 845-025-1135(2)(A) and (B), which give that candidates:
“… should full the appliance course of inside 60 calendar days of the Fee notifying the applicant that the appliance has been assigned” and that “if the applicant doesn’t full the appliance course of inside 60 calendar days, the appliance might be unassigned and place on maintain.”
Getting booted into this sort of purgatory is a harmful recreation. Most buy agreements have drop-dead dates, escrow forfeiture provisions, and different adversarial penalties for patrons particularly who fail to adequately transfer issues ahead. On the vendor facet, a booted software will be devastating the place there are landlord points, or the place a vendor has given over the keys underneath a management agreement—one thing individuals are nonetheless doing often, typically in opposition to recommendation.
d. Restricted inspectors
We’ve seen some delays not too long ago relating to OLCC inspector availability. There most likely aren’t sufficient of them. A number of are additionally assigned to broad territories, making scheduling a problem. Issues are inclined to decelerate over year-end holidays, too. With changes-in-ownership, remaining inspections are usually required on each the customer and vendor facet, and events should be versatile right here.
Different market dynamics
a. Purchaser’s market
Too many OLCC license and enterprise gross sales are “hearth gross sales” these days. Many sellers are failing companies trying to salvage some worth, underneath duress, and make a hasty exit. This offers patrons important leverage, which ought to proceed unabated regardless of OLCC bettering its processes, and regardless of the continuing moratorium on new license issuances. This market dynamic is the brand new regular, and has been for some time.
b. Brokers
Oregon hashish transactions proceed to be tormented by unscrupulous or incompetent hashish brokers, with just a few exceptions. Each week, patrons and sellers come to us with complicated LOIs, hazardous buy agreements, wacky leases and different contracts drafted by brokers, a few of whom additionally purport to function escrows, software advisors and normal deal consiglieres. We’ve talked to those brokers and even filed unauthorized observe of regulation complaints; however finally it’s as much as patrons and sellers to make use of frequent sense right here.
c. Purchaser profiles
We’re seeing a lot of Chinese language patrons within the final yr or so, following the jap European wave of purchasers just a few years again. Current chain operators additionally proceed to scoop up licenses right here and there. There’s little or no multi-state operator (MSO) motion at this level, and seemingly no Canadian public firm curiosity.
Keep tuned
I’ll contact on all of this once more on the finish of the yr, in my annual Oregon hashish “State of the State” submit. Till then, take care and please give us a name for those who want help buying or liquidating an Oregon hashish license.
