Michigan Cannabis Regulatory Agency approves KBIC nonprofit

 (KBIC Image)
(KBIC Image) (WLUC)
Published: Nov. 28, 2022 at 2:53 PM EST
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BARAGA, Mich. (WLUC) - Mashkiki, a nonprofit corporation founded by the Keweenaw Bay Indian Community (KBIC), has been approved by the Michigan Cannabis Regulatory Agency.

The approval means that KBIC-created entities will be the majority stakeholders of Frostbite Management, Inc., the company that owns and controls current KBIC cannabis businesses.

KBIC Cannabis Developer, Gary Loonsfoot, Jr, would like to acknowledge everyone who has dedicated their time and effort to achieve the goal. First, he extended Miigwech (thank you) to the KBIC membership. Loonsfoot said the venture would not have been possible without trust and support. After securing support from the community, Loonsfoot recognized former Tribal President Warren “Chris” Swartz’s vision to “blaze a trail” and create a path for the KBIC and all tribes to pursue state licensure as the best means to quickly and legally participate in the relatively new Michigan Cannabis industry.

Loonsfoot said he is proud to have been entrusted with the opportunity to develop, coordinate, and negotiate the planning and construction of the community’s cannabis ventures.

“Miigwech to everyone involved, past and present,” said Loonsfoot. “Our legal team of Craig Aranoff, Lauren Aranoff, Manny Lentine, Joseph O’Leary, Kevin Carlisle, Paul Mooney, and JLyn Jorgensen navigated the ever-changing legislative and legal landscape and managed to ‘stuff a square peg (KBIC sovereignty) into a round hole (the Michigan cannabis regulatory scheme)’.”

Loonsfoot also thanked the Mashkiki Board Members who “stepped up and successfully underwent the rigorous vetting process required by Michigan law,” the KBIC Tribal Council, and their business partner, Mark Abraham.

“Mark’s leadership, training, and industry knowledge, which he attained through many years of hands-on experience, has been invaluable,” said Loonsfoot.

Finally, Loonsfoot extended thanks to the Outpost staff and management.

According to the KBIC, the next steps in the roll-out of Mashkiki include a community meeting with KBIC membership, tentatively planned for the week of December 14, 2022. The meeting will inform attendees of Frostbites’ current status, market trends, P&L, debt repayment schedule, possible revenue disbursement, and as well as future development options and opportunities