Alicia Ashcraft Named a Finalist for 21st Annual M&A Advisor Awards

September 20, 2022 Firm News

Partner and Las Vegas Office Managing Attorney Alicia Ashcraft has been named a finalist for the 21st Annual M&A Advisor Awards for her representation of Gravitas Nevada Ltd., a vertically integrated cannabis company, in the sale of various business operations to Jushi Holdings Inc., a Canada-based cannabis company. The transaction is among seven finalists in the Consumer Staples Deal of the Year (between $10MM - $100MM) category. Winners will be announced at a black-tie gala during the 2022 Future of Dealmaking Summit on Nov. 15 in New York City.

As counsel in the transaction, Ashcraft overcame a number of challenges including a reorganization of Gravitas to spin-off different assets and business operations, and obtaining regulatory approval by the Nevada Cannabis Compliance Board.  Following the transaction, Gravitas was able to focus its attention on its other business operations and utilize the proceeds from the sale to enhance and expand those facilities, making them more attractive to potential buyers. Jushi increased its footprint in Nevada and vertically integrated its operations in connection with its prior acquisition of a cultivation and production facility. 

Armstrong Teasdale’s Cannabis and Hemp Law practice area has significant experience advising and assisting companies in securing and keeping licenses to cultivate cannabis, manufacture cannabis-infused products, and dispense flower and infused products. Our robust team has significant experience assisting clients with acquisitions, sales, mergers and joint ventures involving cannabis facilities, enabling portfolio growth across state lines. We also regularly negotiate and prepare financial restructuring agreements and buyouts, as well as represent clients in insolvency proceedings.

Ashcraft is a skilled transactional, corporate and administrative law attorney whose practice encompasses complex commercial transactions, corporate governance, and regulatory compliance matters. With more than 20 years of experience representing clients in highly regulated industries such as cannabis and hemp, gaming, liquor and transportation services, she advises businesses through all phases of operation – from startups, through financing, mergers and acquisitions, corporate governance, land use and licensing. Since 2013, Ashcraft has focused her practice on counseling cannabis and hemp businesses through the regulatory process and emerging legal issues. This includes all phases of the application and operation process.

Ashcraft is widely recognized for her involvement in the cannabis industry, and in 2020, was named a Cannabis Law Trailblazer by the National Law Journal. She is currently chair of the State Bar of Nevada’s Cannabis Law Section; a member of the International Cannabis Bar Association and the Southern Nevada Association of Women Attorneys; and was selected to serve on the Law360 Cannabis Editorial Advisory Board in 2020.

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