Colorado Medical Cannabis Business & Marijuana Legal News

Landing a Bank Account: Q&A With Sundie Seefried of Partners Colorado Credit Union

Omar Sacirbey  | August 25, 2016

By Omar Sacirbey

Sundie Seefried was ready to retire as CEO of a Colorado credit union when some lawyer friends asked why she couldn’t bank their marijuana business clients.

Good question, she thought. Seefried met with bankers, lawyers and cannabis business owners. What she learned scared her out of retiring.

Canna-Centric Software Company Nets $1.6 Million in Seed Funding

Omar Sacirbey  | August 5, 2016

Baker, a Denver-based customer-engagement software company for marijuana dispensaries and edibles brands, announced on Friday it has landed $1.6 million in seed funding.

The funding round was led by Michael Lazerow, founder of Golf.com and Buddy Media, a social marketing software company purchased by another customer-relationship management business, Salesforce, for $800 million.

Other investors include …

Pioneering Denver MJ Business Sold to Willie’s Reserve Processor

Omar Sacirbey  | August 4, 2016

The owners of a pioneering recreational and medical cannabis business, Denver Relief, announced the sale today of their cultivation and infused products facilities to CMH Brands, a Colorado company tapped by Willie’s Reserve to process its marijuana products.

The sale comes two weeks after Denver Relief, founded in 2009, sold its retail store …

CO Online Wholesaler Partnering With Cannabis Software Firms

John Schroyer  | August 1, 2016

Colorado-based online wholesale platform Cannabase has entered into exclusive partnerships with seed-to-sale tracking software companies MJ Freeway and BioTrackTHC.

The partnership, announced by the companies, will bring new weight to Cannabase’s pricing and inventory information, given that it will now be backed by MJ Freeway’s and BioTrackTHC’s data. In a pair …

One of Denver’s Oldest Cannabis Shops Sold

John Schroyer  | July 21, 2016

The founders of one of Denver’s oldest cannabis retailers have sold their business to a growing Boulder cannabis chain.

Denver Relief, which launched in 2009 as a medical marijuana dispensary before transitioning to the recreational market as well, has been sold to Terrapin Care Station for an undisclosed sum, according to a press release issued by the …

Head of Prominent MJ Industry Group Leaves

John Schroyer  | July 21, 2016

Mike Elliott, for years a staple of cannabis business advocacy in Colorado, has left the Marijuana Industry Group (MIG), a state trade organization he helped develop into a true political force.

Elliott, the former executive director of MIG, has not yet commented on why he left the organization, according to the Denver Post.

But …

Assessing the Marijuana Investment Climate: Q&A With First Capital Venture’s Erin Turoff

John Schroyer  | July 21, 2016

By John Schroyer

Erin Turoff packed her belongings and moved to Denver from New York City earlier this year for one reason: to get into marijuana investing.

The seasoned asset management professional – who previously rubbed elbows with institutional investors and hedge fund managers – is convinced cannabis is the investment world’s next big thing. 

Colorado Suspends Doctors for MJ Violations

Omar Sacirbey  | July 20, 2016

States with medical marijuana programs are increasingly clamping down on doctors accused of writing medical marijuana recommendations for people who don’t need them.

The implications are significant for medical marijuana businesses, since physicians write recommendations for their patients, and such violations could invite greater regulatory scrutiny on the industry.

The latest state to take …

Denver Edibles Business Looks to Grow Own Marijuana

Omar Sacirbey  | July 15, 2016

About four years after starting BlueKudu, Andrew Schrot is about to make a major change to the business model of his Denver chocolate edibles company – and he’s spending about $2.5 million to do so.

Last summer, BlueKudu bought a 20,000 square-foot warehouse in northeastern Denver for $975,000, and is now investing $1.5 …

New IRS Audits in Colorado Worry Cannabis Companies

John Schroyer  | July 12, 2016

By John Schroyer

The Internal Revenue Service has begun probing the large cash transactions of dozens of Colorado marijuana companies, sparking uncertainty and unease among cannabis entrepreneurs.

The audits – focusing on Form 8300 – have raised the specter of money laundering charges. But legal experts are divided over whether such fears are overblown.

Colorado Marijuana Potency Cap Backers Cancel Campaign

John Schroyer  | July 8, 2016

Supporters of a proposed ballot measure to cap cannabis product potency at 16% THC abruptly halted their campaign on Friday, saying they didn’t have the financial resources to beat the marijuana industry.

“We simply couldn’t go toe-to-toe with the marijuana moguls,” Ali Pruitt, one of the two primary proponents of Amendment 139, said in a …

Week in Review: MMJ Stare Down, Miracle Wager in Cannabis & Colorado’s Industry Unites

John Schroyer  | July 8, 2016

By John Schroyer and Omar Sacirbey

Two medical marijuana campaigns slug it out in Arkansas, Scotts Miracle-Gro wagers big on a different kind of grass, and Colorado cannabis business leaders unite to fight a potency cap.

Here’s a closer look at some notable developments in the marijuana industry over the past week.