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Colorado Sells Nearly $700 Million in Marijuana in 2014

Colorado Sells Nearly $700 Million in Marijuana in 2014

DENVER, CO — Colorado raked in nearly $700 million in recreational and medical marijuana last year, according to newly released data from the Colorado Department of Revenue.

Medical and legal adult-use recreational marijuana sales combined for a total of $699,198,805 in sales, with medical marijuana topping the charts at $385.9 million.  Coming in a close second was recreational pot, totaling $313.2 million in sales.

Colorado state Sen. Pat Steadman (D-Denver) said he is“feeling very encouraged by what we’re seeing so far. Everyone keeps calling this ‘Colorado’s experiment with marijuana legalization,’ but so far everything seems to be working better than planned. … Right now we’re still rolling things out, but it just seems to be rolling out smoother than anyone…

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Marijuana: A New Valentine’s Tradition in Colorado

Marijuana: A New Valentine’s Tradition in Colorado

DENVER, CO — The stars appear to be in alignment for romantics, retailers and cannabis consumers this upcoming Valentine’s Day.

The holiday falls on a Saturday this year. Meanwhile, the National Retail Federation (NRF) says a strengthening economy means consumers will be spending more on that special someone this Valentine’s, compared to previous years.

And according to Ryan Fox, CEO and founder of Denver’s Grass Station dispensary, that combination is great news for people looking for special Valentine’s gifts that go beyond the old-school ties, flowers and candy.

“Here in Colorado this is the second Valentine’s to take place with legalized recreational marijuana [sales] for adults in effect,” he says. “Last year, Valentine’s came too soon [after sales began] for…

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High There: Tinder-style Dating App Pairs Marijuana Users

High There: Tinder-style Dating App Pairs Marijuana Users

DENVER, CO — A new mobile app allowing marijuana users to meet potential mates and network about the best places to score some weed is coming to Apple devices.

Named “High There,” the Tinder-style app was created by CEO Todd Mitchem after one of his dinner dates quickly ended when he revealed his marijuana use.

“We wanted to build a cool piece of technology that solved the problem of where do million and millions of cannabis consumers go to meet people, connect with people and build relationships,” Mitchem told Mashable.

The app is based in Denver, Colo., where recreational marijuana use was made legal in 2012.

High There is only available in the 23 states that have legalized medical marijuana, Mitchem added.

Aside from pairing weed-smokers, the app allows users to discern…

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Illinois Governor Awards Medical Marijuana Licenses Following Review

Illinois Governor Awards Medical Marijuana Licenses Following Review

SPRINGFIELD, IL — Medical marijuana will soon be grown in Illinois, after the office of Governor Bruce Rauner (R) began awarding permits for medical marijuana growers and dispensaries on Monday.

The surprise move to award the permits came following concern from medical marijuana patients and activists, who had been fearing that the new governor would stall the program indefinitely after the outgoing Quinn administration failed to meet its own deadline of issuing the permits by the end of 2014.

Last week, Rauner’s office said no licenses would be issued until a legal review of the process that began under former Gov. Pat Quinn (D), who announced on the morning of Rauner’s inauguration that he would leave the issue for the incoming Republican to decide, was completed.

In total, 18…

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Surna, Inc. Secures $1.1 Million Tech Contract with Indoor Cannabis Grower CWNevada

Surna, Inc. Secures $1.1 Million Tech Contract with Indoor Cannabis Grower CWNevada

BOULDER, CO — Surna Inc. (OTCQB: SRNA), an engineering, manufacturing, and installation company specializing in commercial indoor cannabis cultivation technology, announced today it has finalized an exclusive $1.1 million contract to design, build and install the climate control systems for grower CWNevada.

CWNevada is one of the largest indoor cannabis cultivation facilities in Las Vegas, and was recently granted a Nevada grow license as the state prepares its infrastructure for the growth and distribution of legal medical marijuana in 2015. The Company’s 48,000 square-foot facility requires more than 700 tons of cooling equipment. Surna will provide CWNevada with their proprietary climate control technology which lends greater latitude and precision to the cultivation process…

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Surna Acquires Majority Interest in Leading Cannabis Seed-to-Sale Tracking Platform

Surna Acquires Majority Interest in Leading Cannabis Seed-to-Sale Tracking Platform

BOULDER, CO — Surna, Inc. (OTCQB:SRNA) has signed a definitive agreement to acquire a controlling interest in Agrisoft Development Group, a privately-held company that is one of the leading software developers of seed-to-sale tracking systems for state regulated cannabis cultivation and distribution companies. The deal will provide Surna with additional technology and capabilities to complement its current technology portfolio.

Agrisoft is led by Charles Ramsey, CEO, and Matt Cook, COO. Cook authored and implemented Colorado’s medical marijuana regulatory structure, led the Medical Marijuana Enforcement Division and is widely regarded as the leading regulatory and implementation expert for cannabis. Cook has personally assisted with drafting and implementing state regulated…

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Mainstream Venture Capital Firm Invests in Marijuana Busniess

Mainstream Venture Capital Firm Invests in Marijuana Busniess

NEW YORK, NY — Founders Fund, the $2 billion San Francisco venture capital firm run by Silicon Valley stars including Peter Thiel, co-founder and former CEO of Paypal, is investing in Privateer Holdings, a marijuana company that owns several pot-related brands.

The companies declined to disclose the size of the investment Thursday, but described it as a “multi-million dollar” participation in a $75 million fundraising effort by Privateer. The deal had been rumored last year.

Privateer, based in Seattle, owns the Canadian medical marijuana producer Tilray and the pot information service Leafly. It is also launching a brand of marijuana and products with the family of Bob Marley called Marley Natural.

Founders Fund partner Geoff Lewis, who is leading the firm’s investment in…

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