Colorado Medical Cannabis Business & Marijuana Legal News

Colorado cannabis sales still soaring

John Schroyer  | October 14, 2016

Marijuana sales in Colorado continue to reach new highs, fueled by increasing demand for recreational cannabis.

Sales of medical and adult-use marijuana hit $846 million during the first eight months of 2016, up 33% from the same period last year, according to calculations by Marijuana Business Daily based on the latest state tax data.

Dispensaries and …

Potential rec marijuana ban in Colorado county could create havoc for state’s MJ industry

Bart Schaneman  | October 12, 2016

By Bart Schaneman

A vote next month on whether to ban recreational marijuana businesses in Pueblo County, Colorado, could have huge ramifications for the entire state’s cannabis industry.

If Ballot Question 200 passes, a major marijuana supply source would dry up, dozens of businesses would have to close and scores of workers could lose their jobs.

MassRoots receives $1.1 million in new funding

Bart Schaneman  | October 10, 2016

Cannabis-centric social media site MassRoots received $1.1 million in funding on Friday, mostly from new investors, and disclosed it slashed the salaries of its top executives to cut costs.

MassRoots’ founder and CEO, Isaac Dietrich, led the latest funding round, with former CEO Steve Markowitz also among the contributors. The announcement came as the …

MassRoots pays off March debt of nearly $1M

John Schroyer  | October 7, 2016

MassRoots, the publicly traded cannabis-centric social media site, said Friday it has repaid its creditors after disclosing last month it had missed nearly $1 million in payments that were due to holders of its convertible notes.

“We’re excited to have this debt fully repaid and behind us. We expect MassRoots will be cash-flow …

Denver marijuana packaging firm files for bankruptcy

Omar Sacirbey  | October 6, 2016

High Supply, a Denver producer of child-resistant containers for marijuana products, has filed for bankruptcy protection, claiming the company’s “severe financial stress” was caused by “theft and corporate espionage by former employees.”

High Supply CEO Paul Lufkin is also suing a former co-owner and several formal employees, asserting they tried to launch another …

SEC accuses marijuana-focused company, CEO of fraud

Omar Sacirbey  | October 4, 2016

The Securities and Exchange Commission has filed fraud charges against a publicly traded company and its top executive, alleging they falsely claimed to have secured $100 million to finance marijuana businesses.

The SEC complaint – filed Sept. 30 – said Denver-based Infinex Ventures and its CEO Ronald Salem actually did not have money to invest. The …

Fire safety group developing marijuana business guidelines

Omar Sacirbey  | October 3, 2016

A major fire safety group is updating its codes to include a section devoted to marijuana cultivation and processing sites, a sign that cannabis businesses will need to be increasingly focused on these types of guidelines.

The National Fire Protection Association, a member-based nonprofit that develops codes and standards for fire safety, has been …

New Colorado edibles rules: Major cost for producers, ‘blip on the radar’ for others

John Schroyer  | September 29, 2016

By John Schroyer

New labeling rules that take effect Oct. 1 for marijuana edibles produced in Colorado have been a huge expense for many infused products manufacturers – and may cause headaches for retailers, too.

Edibles companies have spent upwards of six figures to retool manufacturing equipment, retrain employees and pay for new packaging. 

Colorado Springs shuttering nine cannabis clubs

Omar Sacirbey  | September 21, 2016

The city of Colorado Springs has ordered nine cannabis consumption clubs to shut their doors.

It is the first crackdown on cannabis clubs since the Colorado municipality’s city council enacted a ban on the clubs on March 22, according to the Colorado Springs Gazette.

Some clubs are appealing the cease-and-desist orders, while others are …