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Colorado’s medical marijuana sales hit lowest point since legalization

Colorado’s medical marijuana sales fell to their lowest point since retail sales began — the latest signal that the state’s once-robust industry is facing headwinds as others crowd the U.S. market and new regulations take hold. In July, the state’s marijuana sales for both recreational and medical were shy of  $154 million, according to Colorado Department of Revenue figures, down from nearly $203 million a year earlier. Sales for the calendar year have passed the $1 billion mark. July’s medical marijuana sales reached a little more than $18 million – the lowest monthly number since January 2014, when retail sales were legalized in the state. Recreational marijuana sales fared better at more than $135 million – down from $168 million a year earlier, but higher than the numbers in April, Ma...

LivWell to be Colorado cannabis giant after powerhouse PharmaCann plans to buy boutique chain

Cannabis retailer LivWell Enlightened Health is set to dominate the Colorado market with 26 dispensaries after PharmaCann announced its plan to buy The Clinic, a boutique dispensary chain in the Centennial State. LivWell is a cannabis brand owned by PharmaCann — one of the biggest privately-held, vertically integrated cannabis companies in the U.S. With its roots in Colorado, LivWell currently manages 22 stores throughout the state, giving it a slight lead over other major players in the local cannabis industry. Comparatively, The Green Solution — a Colorado-based cannabis company — lists 20 locations on its website. Established in 2010, independently-owned Native Roots Cannabis Co. also operates 20 stores throughout the state. Read the rest of this story on DenverPost.com.

Denver officials want to save struggling cannabis delivery businesses

Weed delivery has yet to catch on in Denver, but government officials are pushing dispensaries to drop their resistance to save the transporter businesses of marginalized entrepreneurs. “Delivery has not taken off in the way that we had hoped that it would,” said Molly Duplechian, Excise and Licenses Department director. “We’re hearing that they’re struggling.” At a marijuana industry check-in meeting on Tuesday, the department proposed a bill that would permanently limit store deliveries to licensed transporters owned by social-equity applicants. Stores wouldn’t be allowed to do their own delivery. Read the rest of this story on DenverPost.com.

Colorado’s cannabis industry prepares for tough times as U.S. recession looms

Colorado’s cannabis industry is preparing for tough times as marijuana sales drop and economic problems pile up. During the COVID-19 pandemic lockdowns, weed businesses serviced consumers eager to stock up on their favorite edibles, concentrates and pre-rolls. That high has since given way to a low for the industry, as less consumer spending means sales are falling in both the recreational and medical markets, according to Headset, which provides insights into cannabis consumer trends. In Colorado, total sales for marijuana stood at $153 million in April – a 26% decrease compared to about $206 million sold that month last year, according to the Marijuana Industry Group, the trade association for the state’s cannabis industry. Medical sales specifically took a hit, plunging to about $20 mil...

Buddy Boy dispensaries will shutter their doors Friday as state’s weed sales tumble

Published: Jun 19, 2022, 12:54 pm • Updated: Jun 19, 2022, 12:54 pm By Megan Ulu-Lani Boyanton Buddy Boy Brands’ seven metro-area dispensaries will shutter their doors permanently on Friday, with the owner blaming a market downturn and high costs. John Fritzel took over Buddy Boy in June 2014. Buddy Boy’s locations dot the Denver area, selling flower, concentrates, edibles, topicals and more. Fritzel, who also owns dispensaries Lightshade and PotCo, initially said sales tumbled off of a cliff, forcing him to close Buddy Boy. However, he admits “a tax balance” is also a contributing factor. Read the rest of this story on DenverPost.com.

Four towns just said no to marijuana sales, but how strong is rural Colorado’s distaste for weed?

HOOPER — Charlie Williams doesn’t believe there should be stores selling pot in his tiny town deep in the San Luis Valley. The 67-year-old pastor isn’t alone. Two dozen of his fellow residents joined him last month in successfully turning down — 25 to 18 — a measure that would have allowed recreational and medical cannabis sales in this town of fewer than 100 just west of Great Sand Dunes National Park & Preserve. “It’s a lot of conservative-minded people who really don’t want that in their town,” said Williams, who preaches at the non-denominational Church of the Living God in Hooper. “Some of us in Hooper wanted to draw a line and keep that out of here.” Read the rest of this story on DenverPost.com.

Method Man announces new cannabis edibles, concentrates in time for 420 concert in Denver

When Method Man came to Colorado to perform with Wu-Tang Clan at Red Rocks Amphitheatre last August, the rapper and actor debuted an original line of cannabis flower that had fans lighting up with excitement. Method Man returned this week for two concerts, including a performance Wednesday at the stoner-focused 420 on the Rocks, bringing another smokeable announcement with him. Method Man is collaborating with two local companies to release TICAL edibles and several concentrates in the coming months. That includes three kinds of gummies with Dialed In, recently named the top cannabis brand to watch in Colorado by analytics firm BDSA, and three concentrate products with Soiku Bano, the best rosin manufacturer in Denver, according to Westword. Both companies are working with Vera Cultivation...

Colorado’s first cannabis “bar” with THC beer opens this week in Denver

Coloradans will soon have a bar where they can belly up to enjoy a non-alcoholic, THC-infused beer and order a gram of marijuana served with a side of rolling papers. JAD’s Mile High Smoke is poised to be the first recreational sales and hospitality business in the state, a formal title meaning a lounge where consumers can come to buy weed and smoke, eat or drink it onsite. The business, located at 7667 Washington St. in Denver, is slated for an April 22 opening. Owner Josh Davis said he’s an appropriate person to open this first-of-its-kind business. As founder and CEO of Legacy 64, he’s spent five years helping other marijuana businesses in Colorado and beyond ensure they’re in compliance with state and local laws. Read the rest of this story on DenverPost.com.

Colorado marijuana companies take a hit from global supply-chain issues

Colorado’s marijuana companies aren’t immune to the supply chain disruptions testing industries worldwide, with some feeling the squeeze on packaging, nutrients and more. “Cannabis is no different than any other industry,” said Matt Jacobs, vice president of operations at Veritas Fine Cannabis. “We’ve got the same issues that other people do when it comes to the supply chain right now.” The coronavirus pandemic thrust the global supply chain into disarray, with overloaded warehouses, backlogged ports and labor shortages intensifying shipping delays. And the U.S. inflation rate continues to rise after hitting a 40-year high in December, the Bureau of Labor Statistics’ Consumer Price Index reports. Read the rest of this story on DenverPost.com.

Broomfield pauses lottery for marijuana licenses after outcry over application process

Broomfield has suspended a lottery it was scheduled to hold this month to award three retail marijuana licenses after the county received “considerable feedback” about who was applying and whether they were playing by the rules. The pause, which the county announced last week, came after Terrapin Care Station sued Broomfield and a number of competing applicants, claiming that several contenders among the 26 who applied used multiple versions of the same corporate name while at least three contenders are directly related to one another. Related Articles Read the rest of this story on DenverPost.com.

Battle for Broomfield’s three marijuana retail licenses spurs accusations, lawsuit

A mad scramble is on in Broomfield to score a trio of coveted licenses to sell recreational marijuana, with 26 applicants jostling for a spot in a city that until now has banned all weed sales. One established cannabis company is crying foul, charging that the lottery system Broomfield will use this month to award the licenses is essentially rigged to raise the odds for some contenders — and the city is doing nothing about it. “They’re allowing various individuals to submit multiple applications into the lottery through various shell companies,” Jordan Factor, attorney for Terrapin Care Station, told The Denver Post. “We’re baffled.” Read the rest of this story on DenverPost.com.

Marijuana tourism is evolving in Aurora and Denver with legal tour buses, lounges

Published: Aug 26, 2021, 6:29 am • Updated: Aug 26, 2021, 6:32 am By John Aguilar Aurora flung open the doors on the next — and perhaps final — frontier in the world of legal cannabis in Colorado, giving initial approval this week for smoking lounges, tasting rooms and tour buses filled with stoned customers. “I see this as a game-changer for the industry,” said Victoria Osler, an Aurora entrepreneur who plans to roll out a “party bus” called Dreamy Illusions, complete with a stripper pole, thumping music, strobe lights and, of course, mobile consumption. “You will be able to consume cannabis on the party bus,” she said. Read the rest of this story on DenverPost.com.