Colorado marijuana sales in November pushed the industry’s annual revenue to $2 billion for the first time. In November, dispensaries sold $175.1 million worth of products, according to figures released by the Department of Revenue on Tuesday. Recreational sales accounted for about $140.5 million, while medical sales accounted for nearly $34.7 million, the agency reported. While the total is down about 12% compared to the month prior, it was enough to help Colorado hit yet another financial milestone in an already banner year for cannabis. From January through November 2020, consumers purchased slightly more than $2 billion, the Department of Revenue reported. The previous year, dispensaries reached $1.75 billion in annual sales, a record at the time. Read the rest of this story on DenverP...
Weed enthusiasts purchased more than $206.4 million worth of Colorado-made marijuana products in September, as sales from a record-breaking year moderately cooled off. Recreational dispensaries sold $166,547,119 during the month, while medical dispensaries sold $39,941,149 for a combined $206,488,268 in revenue, according to data from the Colorado Department of Revenue. Sales decreased 5.5% compared to August, but are up 33% compared to September 2019 as marijuana experiences a banner year for sales despite the coronavirus pandemic. Read the rest of this story on DenverPost.com.
Colorado Gov. Jared Polis plans to mass-pardon 2,732 convictions of low-level marijuana possession through an executive order Thursday after signing a bill earlier this year that gave him that authority. “This really catches Coloradans up with where the law is today,” he told The Denver Post. House Bill 1424, passed by the General Assembly earlier this year, included a provision that allows the governor to pardon those who have convictions on their criminal records for possessing up to 2 ounces of marijuana — the current legal limit for medical marijuana users. Read the rest of this story on DenverPost.com.
Denver Mayor Michael Hancock on Monday ordered residents to stay in their homes and announced that non-essential businesses such as liquor stores and recreational marijuana dispensaries would close across the city starting Tuesday. The closure will take effect at 5 p.m. Tuesday and continue through April 10. Restaurants and bars will still be able to sell alcohol, including wine, beer and cocktails, following an executive order from Gov. Jared Polis on Friday. Restaurants and bars offering food and drinks for takeout or delivery are considered essential businesses and will remain open for those services, Hancock clarified during his press conference on Monday. Even though liquor stores remain open alongside essential businesses in other states, in Denver, they will close. Read the rest of ...
A Denver-based company hopes to be the state’s first to study the effects of marijuana on Alzheimer’s disease, thanks to a newly available research and development license in the city. MedPharm Holdings plans to apply for a Denver marijuana R&D license to test delta-9 tetrahydrocannabinol (THC), cannabidiol (CBD) and other cannabinoids’ effects on Alzheimer’s and dementia patients. According to the Alzheimer’s Association, 5.8 million Americans have the disease, a degenerative brain disorder that affects a person’s memory and thinking skills. While there are drugs that help ease symptoms, they do not change the course of the disease. Read the rest of this story on DenverPost.com.
Patrons at the Smokin Gun dispensary in Glendale will be among the first in Colorado to have a place to socially smoke marijuana when the pot shop opens an onsite tasting room this spring. Smokin Gun, billed as a late-night dispensary and anti-Prohibition museum, is planning a tiny onsite tasting room called The Joint where customers can consume products they buy at the dispensary, including flights of different strains of flower, according to an announcement Wednesday. Because the dispensary has something of a Wild West theme, The Joint will resemble a jail cell. It’s expected to open on April 20. Read the rest of this story on DenverPost.com.
Published: Jan 14, 2020, 6:18 am • Updated: Jan 14, 2020, 6:19 am By Saja Hindi Two Colorado lawmakers want to pass a law to protect workers who use marijuana when they’re off the clock. House Rep. Jevon Melton, D-Aurora, has introduced a bill to prevent businesses from firing employees for partaking in legal activities on their own time — even if the activities are only legal under state and not federal law. To pass, though, the bill will likely require some compromise to address expected objections from the business community. Melton says the measure would correct an oversight in Colorado law. Read the rest of this story on DenverPost.com.
Entrepreneurs who broke into Colorado’s cannabis industry at the ground level — the growers — have endured economic whiplash over the last two years as the market for wholesale flower experienced volatile swings in price. The average market rate slumped to a low of $759 per pound in 2018 after peaking at $2,007 per pound in early 2015. That rate has rebounded to $1,316 per pound this month, after five consecutive quarters on the rise, reaching the highest price in three years. Still, many anticipate the wholesale cost will remain relatively flat in 2020. Or at least they’re hoping it will. Read the rest of this story on DenverPost.com.
Published: Dec 27, 2019, 6:06 am • Updated: Dec 27, 2019, 6:08 am By John Wenzel, The Know From eye-level, Tetra Lounge looks like an upscale coffee shop rolled into a nightclub. Brick walls, painted white, box in DJ booths and a bar, while attractive glass cases and furniture dot the 2,000-square-foot space at 3039 Walnut St. in the River North Art District. But look down and you’re suddenly in a weed dealer’s apartment from the black-market era of cannabis: plush but worn couches, video game controllers, scattered bits of bright-green leaves, and a friendly, roaming Rottweiler named Kena. Read the rest of this story on DenverPost.com.
Earlier this year, Denver resident Oswaldo Barrientos was barred from becoming a U.S. citizen because of his work in Colorado’s legal cannabis industry, despite a perfectly clean record. But a bi-partisan bill introduced in Washington this week could make it possible for those like Barrientos to clear that final hurdle. Sen. Cory Gardner, R-Yuma, joined forces with an unlikely partner in Sen. Elizabeth Warren, D-Massachusetts, to introduce legislation that would remove participation in the legal cannabis industry from the list of activities that automatically bar naturalization. It comes months after Denver Mayor Michael Hancock pressed the Trump administration to rethink its citizenship policies, which issued guidance in April that anyone working in the marijuana industry — even in states...