Colorado Medical Cannabis Business & Marijuana Legal News

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.

Google Preparing to Work With the Cannabis Industry?

Omar Sacirbey  | July 6, 2016

By Omar Sacirbey

Is global technology giant Google the latest major U.S. corporation to kick the tires of the marijuana industry?

It could be. Signs suggest the Mountain View, California-based company is exploring the opportunity to work with cannabis businesses.

Helix TCS Acquires Colorado Marijuana Wholesale Site

John Schroyer  | July 5, 2016

Helix TCS, a Colorado cannabis company that offers a wide range of services for industry firms, announced Tuesday it has acquired Cannabase, a leading online wholesale platform where many of the state’s growers and retailers buy and sell marijuana.

The move broadens Helix TCS’s reach into the marijuana industry. Helix, a public company which trades …

Colorado Wholesale Recreational Cannabis Prices Tumbling

John Schroyer  | July 5, 2016

By John Schroyer

The recreational marijuana price drop many in Colorado’s industry have been predicting for over a year has occurred – at least at the wholesale level.

The average price wholesale growers are asking retailers, edibles producers and others to pay for recreational marijuana has tumbled by a third since January.