Invest in Downtown LA Cannabis
The Basecanna Opportunity Fund
Invest in Downtown LA Cannabis
The Basecanna Opportunity Fund
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News / May 18, 2015
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| CEO, Mixmasters
Brennan has been cultivating under California law since 1997 and currently has 18 tested, popular LA strains.
In 2006, Brennan founded Venice Beach Care Center, one of the top 10 highest grossing dispensaries in LA and the only to receive 7 Certificates of Appreciation from the LA City Council. Brennan also owned, reorganized, rebranded, and managed West Hollywood Dispensary Cannacology until it was sold in 2016.
Both of his dispensaries were sold to MedMen Enterprises in 2016 and 2017 for over $10 Million (MedMen Venice and MedMen West Hollywood – two of LA’s highest grossing dispensaries)
Brennan is a known operator, advocate, and public figure. CNBC recently featured Brennan in “The Profit in Marijuana Country” on January 2nd, 2018 with Marcus Lemonis.
| Founder, Milkman Dispensary
Thomas founded Milkman Collective delivery service within San Luis Obispo County in April 2015.
Thomas has over 20 years of professional sales experience and earned a BS in Cellular and Development Biology from UCAL – Santa Cruz.
| Managing Partner, BaseCanna
Jack has been recognized as an innovative and successful real estate manager, broker, developer and conversion expert. An entrepreneur over the past four decades, Jack has created and managed many businesses that have become leaders in their industries.
After graduating from Wharton School of Finance, Jack specialized in the development, conversion and management of condominiums, cooperatives and other multi-family residential properties. Through various companies and partnerships, Jack has actively developed, converted and/or managed 30,000 units. He has also been active in commercial and retail management and re-development. He and his team have developed, converted or managed nearly $5 Billion of real property, including residential sub-divisions, luxury single-family homes, multi-unit luxury towers, and hotel and vacation properties with several international projects that involved resorts, hotels, luxury homes and condominiums and vacation properties.
Jack also has earned a law degree from Rutgers School of Law. Although he no longer practices law, his law firms were dominant participants in the national legal debt collection industry, at one time having under active management up to $10 Billion in receivables portfolio
RISKS & DISCLOSURES
CANNABIS IS A SCHEDULE I CONTROLLED SUBSTANCE UNDER THE FEDERAL CONTROLLED SUBSTANCE ACT. THE MANUFACTURE, SALE, POSSESSION, TRANSPORTATION, AND USE OF CANNABIS, INCLUDING THE AIDING AND ABETTING OF SAME, REMAINS FEDERALLY ILLEGAL, EVEN IN STATES THAT HAVE LEGALIZED MEDICINAL OR ADULT-USE CANNABIS. THE MOVEMENT AND STORAGE OF MONEY PERTAINING TO CANNABIS, EVEN IF NOT DIRECTLY RELATED TO THE ABOVE ENUMERATED ACTS, PRESENTS A FEDERAL RISK. FOR THESE REASONS, IF FEDERAL LAWS IMPACTING CANNABIS WERE STRICTLY ENFORCED, BASECANNA LLC WOULD LIKELY BE UNABLE TO PROCEED WITH EXECUTING ITS BUSINESS PLAN. FURTHERMORE, STRICT ENFORCEMENT OF FEDERAL LAW MAY RESULT IN CRIMINAL PENALTIES, INCLUDING BUT NOT LIMITED TO MISDEMEANOR OR FELONY CHARGES, CRIMINAL INVESTIGATIONS, FINES, ASSET FORFEITURE AND IMPRISONMENT OF MANAGEMENT PERSONNEL, FOR VIOLATING SUCH LAWS. IN ADDITION, IT IS STILL UNKNOWN THE POLICY THE NEW PRESIDENTIAL ADMINISTRATION WILL ADOPT WITH REGARD TO ENFORCEMENT OF FEDERAL LAW AGAINST COMPLIANT BUSINESSES OPERATING WITHIN ROBUST STATE PROGRAMS.
IN STATES WHERE CANNABIS HAS BEEN LEGALIZED FOR MEDICINAL OR ADULT USE, LOCAL AND STATE AUTHORITIES HAVING JURISDICTION MAINTAIN BROAD DISCRETION AND POWERS TO REGULATE AND IMPACT THE OPERATIONS OF CANNABIS COMPANIES. RECREATIONAL CANNABIS PRODUCTS AND OPERATIONS ARE GOVERNED UNDER NEW AND EVOLVING LAWS AND REGULATIONS. GIVEN THE EARLY STAGE OF LEGALIZATION IN MANY STATES, THE LOCAL AND STATE REGULATIONS IMPACTING THE CANNABIS INDUSTRY ARE CONTINUING TO DEVELOP AND ARE SUBJECT TO CHANGING INTERPRETATIONS. REGULATORY CHANGES AND DEVELOPMENTS MAY REQUIRE THE PROJECTS TO INCUR SIGNIFICANT EXPENSES SUCH AS LEGAL REPRESENTATION COSTS AND MANDATORY COMPLIANCE FEES THAT MAY NECESITATE A CHANGE OF THE BUSINESS PLAN.
BASECANNA CANNOT FORESEE THE IMPACT OF FUTURE REGULATIONS OR LAWS ON THE BUSINESS PLAN, AND FUTURE REGULATIONS OR LAWS MAY THEREFORE LIMIT THE ABILITY TO EXECUTE THE BUSINESS PLAN. AN INVESTMENT INVOLVES SIGNIFICANT RISKS INCLUDING THE RISK OF LOSING A PORTION OR ALL OF YOUR INVESTMENT. THE RISK IS EVEN HIGHER FOR COMPANIES DEALING WITH RECREATIONAL CANNABIS PRODUCTS AND OPERATIONS. ONLY SOPHISTICATED INVESTORS THAT UNDERSTAND THESE RISKS AND ARE ABLE TO BEAR THEM SHOULD CONSIDER AN INVESTMENT. BASECANNA CANNOT GUARANTEE OR PROVIDE REPRESENTATION THAT IT WILL ACHIEVE ITS INVESTMENT GOALS OR PROVIDE A RETURN ON INVESTMENT TO ITS INVESTORS. ALL INVESTORS MUST BE PREPARED TO LOSE ALL OR A PORTION OF THEIR INVESTMENT.
FUTURE EARNINGS PROJECTIONS AND FINANCIAL ESTIMATES ARE INHERENTLY SPECULATIVE AND BASED ON A NUMBER OF VARIABLES, ESTIMATES, AND JUDGMENTS ON MATTERS, INCLUDING THOSE OVER WHICH THE FUND WILL HAVE NO CONTROL. STATEMENTS CONCERNING FUTURE PERFORMANCE, DEVELOPMENTS OR EVENTS, EXPECTATIONS FOR GROWTH AND INCOME FORECASTS, AND ANY OTHER GUIDANCE ON FUTURE PERIODS, CONSTITUTE FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO A NUMBER OF RISKS AND UNCERTANTIES. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM STATED EXPECTATIONS. BASECANNA DISCLAIMS ANY OBLIGATION TO PROVIDE UPDATES TO ANY FORWARD-LOOKING STATEMENTS TO REFLECT FUTURE EVENTS OR DEVELOPMENTS. THE FOREGOING INFORMATION IS INTENDED TO PROVIDE A BRIEF SUMMARY OF THE MATERIAL RISKS ASSOCIATED WITH AN INVESTMENT, BUT THIS SUMMARY SHOULD NOT BE CONSIDERED OR RELIED UPON AS A COMPREHENSIVE DESCRIPTION OF THE RISKS INVOLVED. AN INVESTMENT IN BASECANNA OFFERINGS IS HIGHLY SPECULATIVE AND INVOLVES SIGNIFICANT RISKS. YOU ARE STRONGLY ENCOURAGED TO SEEK YOUR OWN COUNSEL FOR GUIDANCE REGARDING THE TAX, FINANCIAL, AND LEGAL RISKS ASSOCIATED WITH AN INVESTMENT.
IT IS ACKNOWLEDGED AND AGREED BY THE ACCEPTANCE OF THESE MATERIALS FOR REVIEW THAT THE INFORMATION CONTAINED HEREIN INCLUDES CONFIDENTIAL AND PROPRIETARY DETAILS. THE RECIPENT OF THIS INFORMATION UNDERSTANDS THAT PROTECTING THE SECRECY OF THIS INFORMATION IS OF UTMOST IMPORTANCE TO ALL PARTIES. THE RECIPIENT WILL REFRAIN FROM USING OR DISCLOSING ANY CONFIDENTIAL INFORMATION FOR ITS OWN USE OR FOR ANY PURPOSE OTHER THAN TO CARRY OUT DISCUSSIONS CONCERNING INVESTMENT WITH BASECANNA LLC. THE RECIPIENT IS EXPECTED TO TAKE ALL REASONABLE MEASURES TO PROTECT THE SECRECY OF, AND AVOID DISCLOSURE OR USE OF CONFIDENTIAL INFORMATION TO PREVENT IT FROM FALLING INTO THE PUBLIC DOMAIN OR TO ANYONE OTHER THAN THE RECIPIENT AND ITS AGENTS AND ADVISORS. BASECANNA LLC, REQUESTS NOTIFICATION OF ANY ACTUAL OR SUSPECTED MISUSE, MISAPPROPRIATION OR UNAUTHORIZED DISCLOSURE OF CONFIDENTIAL INFORMATION IN ORDER TO PROTECT THE INTEGRITY OF THE PARTIES INVOLVED.
THE LLC INTERESTS ARE BEING OFFERED PURSUANT TO RULE 506(C) ISSUED BY THE SECURITIES AND EXCHANGE COMMISSION. RULE 506(C) DOES NOT REQUIRE DISCLOSURE OF ALL THE INFORMATION THAT WOULD BE REQUIRED IN SOME OTHER KINDS OF SECURITIES OFFERINGS, SUCH AS A PUBLIC OFFERING OF SHARES. ALTHOUGH EVERY EFFORT HAS BEEN MADE TO PROVIDE ALL THE INFORMATION BELIEVED TO BE NECESSARY TO MAKE AN INFORMED DECISION, ANSWERS ANY QUESTIONS ARE AVAILABLE. IT IS POSSIBLE THAT YOU WOULD MAKE A DIFFERENT DECISION IF YOU HAD MORE INFORMATION.
Fill in the fields below to download the Offering Memorandum.
*This is more for security reasons than anything else.
Download the OM