New Colorado Marijuana Bill Allows for Publicly Traded Owners | CashCropToday
0 Shares 97 Views

New Colorado Marijuana Bill Allows for Publicly Traded Owners

March 1, 2018
97 Views

House Bill 1011, “Marijuana Businesses Allow Publicly Traded Owners,” on Wednesday passed the House Finance Committee on a vote of 8 to 5.  The bill, if passed into law, would open the doors for out-of-state individuals and publicly traded companies to invest or have ownership interest in state-licensed cannabis businesses.

Colorado may have been a trailblazer in regulating adult-use cannabis sales, but many of its homegrown businesses feel they are being left in the dust as the industry goes global.  More than a dozen medical and recreational cannabis states have allowed for out-of-state investors or publicly traded companies and, as such, are seeing more investment capital flow to their industries.  The new bill repeals provisions that limit out-of-state ownership to 15 individuals as well as the provisions that prohibited publicly traded entities from holding a marijuana license. Proponents hope the bill will open the door to increased investment from existing public companies as well as granting local licensed businesses the chance to become publicly traded and, thus, raise new capital.

However, not all of Colorado’s cannabis businesses are necessarily on board with the move.  Opponents believe that a material change in the state’s regulations may increase the risk of federal scrutiny as well as the risk of “bad actors” entering the market.  The bill now heads to the House Appropriations committee and would subsequently need to garner a passing vote in both the House and Senate before going to the Governor’s desk to be signed into law.  Stay tuned to Cash Crop Today for information on any further developments.

You may be interested

More Banks Willing to Work with Cannabis Businesses as Legality is Debated
Politics
56 views
Politics
56 views

More Banks Willing to Work with Cannabis Businesses as Legality is Debated

Editor - June 20, 2018

If you live in any of the nine U.S. states that support recreationally legal cannabis legislation like California, Alaska, Colorado, Maine, Massachusetts, Nevada, Oregon, Vermont, and Washington,…

Canada Officially Legalizes Recreational Cannabis
Politics
139 views
Politics
139 views

Canada Officially Legalizes Recreational Cannabis

Editor - June 20, 2018

The Canadian government has officially passed Bill C-45 yesterday, better known as The Cannabis Act. Now legislation has been set in place by the country's Senate and…

California Based Edible Company Signs LOI For the Chance to Go Public in Canada
Market Watch
147 views
Market Watch
147 views

California Based Edible Company Signs LOI For the Chance to Go Public in Canada

Editor - June 20, 2018

The Bhang Corporation, a privately-held cannabis edible and accessory company with operations out of California, has entered into a LOI (letter of intent) with Canadian public company…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: