The virtual meeting, necessitated by temporary amendments to the open meeting law, was chaired by Kathleen Joyce and included other board members. The focal point of the meeting was an amendment request by Stones Throw Cannabis LLC DBA Firebrand Cannabis. The establishment, located on Atlantic Avenue in the Chinatown-Leather District, sought approval to add investors to acquire various percentages of ownership. During the five-minute presentation by the company’s representatives, it was clarified that the new investors were subject to a convertible note and that the change would not affect the company’s status as a majority-owned social equity company.

However, the board’s discussions soon became mired in the details of a pending lawsuit related to the company. Board members raised questions about the lawsuit’s relevance to the ownership amendment. Company representatives maintained that the lawsuit was separate from the issue at hand and did not impact the board’s decision-making process.

Adding to the meeting’s complexity was the dispute over the ownership status of James Finny and Eric Lawrence. These individuals claimed to be rightful owners, yet there were contradicting statements about their actual status. The discussion evolved into an examination of equity distribution and the potential dilution of ownership. This disagreement underscored the need for greater clarity, and as a result, the board decided to defer the matter until the court case associated with the ownership dispute was resolved.

The board also addressed other business items during the meeting. Additionally, the board acknowledged the decision by a cannabis retailer to halt operations as a medical treatment center.

Looking forward, the Boston Cannabis Board scheduled its next transactional hearing for May 15th, 2024. This upcoming meeting is expected to further address pending issues and new business items, including the likely revisitation of the Stones Throw Cannabis LLC ownership amendment, depending on the progress of the related lawsuit.