Browsing: Cannabusiness

incredibles_collins20180814_035_1_Jacqueline Collins

As the winter holidays approach, retail companies routinely find themselves needing extra seasonal help for the extra business. But rather than working inside an Amazon warehouse, you could trim weed instead.

“They call it Crop-tober, and it primarily affects outdoor grows in southern Colorado and northern California, around mid-September through October,” explains Karson Humiston, founder of cannabis employment recruiter Vangst.

bongathon_collins2019Jacqueline Collins

Colorado’s tourism industry has had a complicated relationship with cannabis since the state legalized the plant in late 2012. National hospitality businesses remain scared to touch a federally prohibited substance, while a state law banning public pot consumption has kept the majority of out-of-state dispensary shoppers without somewhere to legally light up.

But that tide may finally be turning.

A bill legalizing social pot consumption permits for qualified businesses passed the Colorado Legislature in the 2019 session, opening up new opportunities for cannabis users and entrepreneurs alike; the law will take effect at the beginning of 2020. Meanwhile, Governor Jared Polis appointed Wanda James, a cannabis advocate and dispensary owner, to the state tourism board in August.

jeff_mascio_headshotCourtesy of Cannabis One

Today’s cannabis business conferences look a lot different than they did six years ago. No longer a medical-only option with fringe investment opportunities in a few markets, legal cannabis is now a cash engine pushed by hedge funds and corporate financiers eager for new action.

Jeff Mascio saw marijuana’s momentum several years ago while managing a hedge fund, but left that life to dive all in with Cannabis One in 2017. Mascio’s company now co-owns the Joint dispensary in Denver, as well as cannabis businesses in Washington state and Oregon. Before Colorado pot investment rules change this fall, we caught up with Mascio to get his take.

incredibles_collins20180814_035_1_Jacqueline Collins

The United States House of Representatives just approved a bill that would allow banks and financial institutions to serve marijuana businesses in states where it is legal without risking federal prosecution, marking a landmark step towards marijuana reform.

Introduced by Colorado Representative Ed Perlmutter, the SAFE Banking Act needed approval from two-thirds of the House’s 435 members, or 290 yes votes. It got 321, becoming the first marijuana-centered bill to reach a Congressional floor for a vote — as well as the first to pass.

den_20151124_boulderwellnesscenter_boulder_slentz_01Scott Lentz

After over a year of free-falling, marijuana prices are on the rise in Colorado, according to the state Department of Revenue. But several marijuana producers say those prices could be even higher than the state estimates.

According to the latest DOR estimates, wholesale marijuana flower is currently about $1,000 per pound, increasing by 17.5 percent from July to September, with trim, flower and whole plant matter allocated for extraction all rising in cost, as well. However, wholesale marijuana growers and dispensary general managers are telling us that wholesale flower prices are actually closer or above $1,300, and have been steadily rising all year.

den_canna_20150726_mmjamerica_arapahoe_slentz_05Scott Lentz

As Colorado’s cannabis industry opens up to more investment opportunities and public funding through a new law that takes effect November 1, expect powerful players to enter the fray. A private company is already beating some of those public corporations to the punch, however, purchasing five well-known dispensaries in the metro area this year alone.

Lova, a new dispensary brand, now owns both of MMJ America’s dispensaries in Denver as well as Groundswell Cannabis Boutique, Northern Lights Cannabis Co. in Edgewater and Boulder’s Trill Alternatives (MMJ America in Boulder and Northern Lights in Denver will remain unaffected by the deal). Founded by Matthew Shifrin and Amanda Fox, Lova is funded by Australian billionaire Brett Blundy. We sat down with Shifrin and Fox, a University of Denver alum, to learn more about their plans for their new dispensaries.

incredibles_collins20180814_041Jacqueline Collins

New marijuana business licenses reserved for low-income demographics are set to launch in Colorado in 2020, but questions remain about who should receive these licenses and how they should be regulated.

Created by Senate Bill 224, a 2019 law that overhauls the state’s medical and recreational marijuana regulations, the new licenses are intended to add more diversity to Colorado’s cannabis space while providing opportunity to entrepreneurs who don’t have traditional training or funding outlets. Also known as micro licenses, the new permits would require the new businesses to use the facilities of established pot companies as they research and create their own cannabis products.

04202018_bruce_civic_center_0074 (1)Kenzie Bruce

Vaping is marketed to both tobacco and marijuana smokers as the safer alternative to smoking. But as hundreds of cases of vaping-related illnesses pop up across the country, state and federal health officials are gaining traction in their messaging about the unknown dangers of vape products.

“Vaping products contain more than just harmless water vapor. They are marketed as a ‘safe’ alternative to smoking, but the long-term health effects of vaping are still unknown,” the Colorado Department of Public Health and Environment notes on its website.

As vaping receives criticism from government officials, much of the heat has been directed at nicotine vaping — allowing marijuana vaping products to escape largely unscathed. However, vaporizing marijuana products now covers a larger span than just the plant’s flower, with THC and CBD oil vape cartridges rising in popularity thanks to their convenience — and that’s where recent reports of danger come in.

starbuds_louisville-lentz-2015 (1)Scott Lentz

Starbuds, one of Colorado’s largest dispensary chains, has agreed to sell a handful of stores to a name that’s becoming increasingly common in cannabis-industry acquisition news: Medicine Man Technologies.

The deal between the two parties, announced September 3, has Starbuds selling five stores in Louisville, Longmont, Pueblo, Niwot and Commerce City to the cannabis business conglomerate for just over $31 million in cash and Medicine Man Technology stock shares.

But the news doesn’t end there. Today, September 4, Medicine Man Technologies announced it has agreed to buy Colorado Harvest Company, a chain of three dispensaries in Denver and Aurora, for $12.5 million in cash and stock.

paragon_processing_loading_baysCourtesy of Paragon Processing

Colorado City, a town of less than 2,500 in southern Colorado, will soon be home to up to 50 million pounds of hemp, now that a massive-hemp processing facility is open for business.

Paragon Processing opened a 250,000-square-foot hemp-processing on facility Wednesday, August 29. Not only does the company say that the new facility is the largest of its kind in the country, but it could help bring 250 new jobs to Colorado before the end of the year, with a number of them located in Colorado City.

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