MjLink Cannabis Business News and Press

SAN FRANCISCO, April 21, 2022 - PRESS RELEASE - Treez, an enterprise cloud commerce platform that powers retail and supply chain operations for the cannabis market, announced the completion of a $51 million Series C funding at a valuation in excess of $260 million.

The round brings new investment from Long Ridge Equity Partners, a New York-based growth equity fund focused on high growth software and fintech companies, Kayne Partners, a Los Angeles-based growth equity group, and Synchrony Financial, a consumer financial services company. Existing investors also participated in the round. JMP Securities LLC, a citizens company, served as exclusive financial advisor to Treez.

Treez will use the funding to fuel its aggressive sales growth and accelerate product innovation, which include developing new payments and advanced analytics solutions, enhancing the functionality of its open cloud commerce platform for single-store and multi-store operators, and expanding its geographic reach. Already, Treez has unveiled new integrations that enhance online ordering and delivery options for retailers. Treez was also one of the few cannabis technology companies to achieve a successful SOC 2 Type 1 audit earlier this year, demonstrating the company's commitment to compliance and customer data security. The company has recently expanded into two state-regulated markets and now supports retailers in eight states. 

As part of the funding round, Treez named Angad Singh, partner at Long Ridge, and Gowri Narayanan, an experienced FinTech investor and global leader, to the Board of Directors. Nishita Cummings, managing partner and co-head of Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, and Josh Aycock, principal at Synchrony, were named as observers on the Board of Directors. 

"We look forward to working with a renowned group of investors and new board members with deep fintech expertise," said John Yang, Treez CEO. "They are very excited about this space, aligned and supportive of our vision to deliver the most innovative open cloud commerce platform that powers retailers' growth as the industry moves forward." 

This latest funding round follows Treez's 82% revenue growth in 2021, where it was recognized as one of the fastest-growing companies by Inc. 5000 and Deloitte Technology's Fast 500. Last year, it expanded its workforce by 40 percent across 19 states and three countries. 

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The New Hampshire House passed legislation last month that would allow state-run liquor stores to sell adult-use cannabis, but lawmakers in the Senate aren’t as keen on the proposal.

The Senate Ways and Means Committee recommended killing the legislation in a 5-0 vote April 20, according to the New Hampshire Bulletin.

House Bill 1598, sponsored by Rep. Daryl Abbas, R-Salem, would legalize the possession and use of cannabis for adults 21 and older, and would allow the New Hampshire Liquor Commission to regulate and oversee the cultivation, manufacturing, testing and sale of adult-use cannabis in the state.

The legislation would also allow New Hampshire’s municipalities to limit or prohibit adult-use cannabis businesses within their jurisdictions.

The Ways and Means Committee deemed H.B. 1598 “inexpedient to legislate,” and the committee’s recommendation will appear before the full New Hampshire Senate for a vote in the coming weeks, the New Hampshire Bulletin reported.

Two weeks after Detroit City Council members voted, 8-1, to allow adult-use cannabis businesses to start operating in their jurisdiction, Michigan’s largest city opened its online application process.

Starting April 20, Detroit officials began accepting license applications from potential growers, processors, secured transporters, safety compliance facility operators (testing) and event organizers, offering a step-by-step guide with a checklist to assist in obtaining a license.

Those five license types are unlimited under the ordinance council members approved April 5.

RELATED: Detroit City Council Approves Adult-Use Cannabis Participation

Meanwhile, adult-use retail licenses will be capped at 100, half of which will be reserved for social equity applicants. The Office of Marijuana Ventures and Entrepreneurship, which operates under the Detroit Department of Civil Rights Inclusion and Entrepreneurship (CRIO), will provide updates on its website for when applications for those licenses will become available.

“We are so excited to announce the opening of our adult-use marijuana licensing program,” Megan Moslimani, director of Marijuana Ventures and Entrepreneurship, said in a news release. “We are confident and proud of the space that we have carved out for social equity applicants to take part in this billion-dollar industry.”

Tennessee is the latest state to grapple with delta-8 THC as lawmakers consider new legislation that would outlaw products containing the cannabis compound.

House Bill 1927, sponsored by Rep. William Lamberth, R-Portland, aims to regulate delta-8 by making it illegal except when present in trace-level concentrations, according to WBIR.

Delta-8 products are currently legal to sell and consume in Tennessee since the compound is produced from hemp, the news outlet reported, but lawmakers have expressed concern about the lack of regulations governing delta-8 THC in the state.

RELATED: Tennessee Lawmaker Files Legislation to Tax and Regulate Cannabis, Including Delta-8

H.B. 1927 has already been amended to include other hemp-derived THCs, including delta-9 and -10, as well as the derivative hexahydrocannabinol (HHC), WBIR reported.

As the hemp farming landscape continues to shift, East Fork Cultivars CEO Mason Walker says growers are looking for more variety in their fields—and East Fork’s new Partner Trial program aims to meet their needs.

The Oregon-based hemp breeder and cultivator has launched a new Partner Trial program that offers up to 75 hemp seeds—25 seeds each of three of the company’s exclusive varieties—to state-licensed farmers in the U.S.

“It’s something that we’ve done on a very small scale in the past, and we decided to make it public this year,” Walker told Cannabis Business Times. “The response so far has been really good.”

The program aims to place new cultivars that are not yet commercially available in the hands of growers in exchange for insights and experiential data that will ultimately help East Fork fine-tune the varieties for commercial sale.

“Folks are looking for more variety in their fields, looking for different things … that are not widely available on the market,” Walker said. “As breeders, we do a lot of small-batch seed for folks. … We had a bunch of promising lines that weren’t quite ready for commercial sale this year, so we decided to massively expand our Partner Trial program, where we give free seed to folks of lines that are one step away from being commercially ready to sell.”

PORTLAND, Ore., April 21, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Chalice Brands Ltd., a premier consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, has announced the signing of definitive agreements and services agreements to acquire two retail stores located in Bend and Corvallis, Ore., from Miracle Greens, Inc and two outdoor cultivation assets in Grants Pass, Ore., from Totem Farms, LLC for total consideration of US$2.63 million. The closing of the transaction is subject to approval by the Oregon Liquor and Cannabis Commission (OLCC) and the satisfaction of other closing conditions.

“We are very excited to be able to serve the Bend and Corvallis communities as Chalice’s retail footprint expands to a total of 18 stores owned and managed in Oregon. This transaction is crucial to support our scale and strengthen our vertically integrated operations as we continue to elevate our brand presence on the west coast. Our team is energized to provide best-in-class product offerings and retail experiences as we execute on our collective vision of providing consumers with the next generation of plant-based medicines. We look forward to further capitalizing on significant expansion opportunities in the market as the pathway to full U.S. federal legalization gains momentum,” said Jeff Yapp, president and chief executive officer of Chalice Brands.

Transaction Highlights:

Under the terms of the agreements, Chalice will acquire 100% of the assets of two retail dispensaries from Miracle Greens located in Bend and Corvallis, Ore., and two outdoor cultivation assets from Totem Farms located in Grants Pass, Ore., for total consideration of US$2.63 million. Totem Farms, LLC’s, assets are being purchased for US$563,587 and Miracle Greens Inc.’s assets are being purchased for US$2,063,999.The purchase price will be paid 50%  in cash due at closing, US$1,313,793, and the balance equally split between equity and a promissory note to be paid over 54 months at 8% interest (US$656,896.50 respectively) with each being prorated based on the purchase price of the entity’s assets.Upon signing, Chalice contracts to operate the Miracle Greens retail stores including staffing, pricing, and procurement, and the Totem Farms cultivation assets pending regulatory approval.Miracle Greens retail stores are expected to carry Chalice Brands products immediately upon commencement of services agreements, providing the opportunity to broaden the quantities and varieties of flower available to the existing footprint.Cultivation assets located in Grants Pass, Ore., will expand the quantities and varieties of flower available to the existing Chalice footprint and more than doubles our capacity by adding approximately 3,000 lbs. of additional capacity to current greenhouse grow, located at Bald Peak, which has approximately 2,500 lbs. annual capacity.

“I am thrilled to have Totem Farms become part of Chalice Brands. Totem gives us our first two premier outdoor grows in Southern Oregon, one of the best locations for growing in the country,” commented Meghan Miller, chief operating officer of Chalice Brands.

“We are pleased to have completed the accretive transaction of Totem Farms and Miracle Greens to expand Chalice’s retail presence and cultivation capacity to bolster our market share in the Oregon cannabis market. Our growth strategy through opportunistic consolidation will provide accelerated revenue contribution and improve margins to drive shareholder value. The company will remain disciplined with our capital allocation strategy to support our long-term vision as a premier multi-state operator,” noted John Varghese, executive chairman of Chalice Brands.

NEW YORK, April 21, 2022 -- PRESS RELEASE -- Acreage Holdings, Inc., a multi-state operator of cannabis ‎cultivation and retailing facilities in the U.S., today launched adult-use cannabis operations in two New Jersey locations. Acreage’s products, including its flagship brand, The Botanist, will be available for adult-use consumers at its Egg Harbor Township and Williamstown dispensaries in southern New Jersey.

Acreage is among the inaugural group of cannabis operators permitted to commence adult-use sales in New Jersey. As of April 21, the Egg Harbor Township and Williamstown locations will offer The Botanist flower, pre-rolls, vape cartridges and more to all adult-use customers who are 21+ years old. The Botanist dispensaries have served New Jersey patients for nearly five years and will continue to provide access to high-quality cannabis products for both medical and adult-use consumers amidst growing consumer demand. Additionally, with Acreage’s recent cultivation expansion, the company is uniquely positioned to become a significant wholesale supplier as the New Jersey market develops.

“After serving New Jersey medical patients for almost five years, we are thrilled to be among the first operators establishing New Jersey’s adult-use market. With New Jersey adult-use sales projected to reach $2.4 billion by 2026, The Botanist is well-positioned through our expanded cultivation capabilities to meet consumer demand and increase sales in the coming years,” said Peter Caldini, CEO of Acreage. “Our company has been committed to providing exceptional patient care since its inception, and we will continue to prioritize medical patients while providing the same level of care and expertise to our new adult-use consumers.”

To celebrate the first day of adult-use sales, The Botanist Williamstown will host an opening event attended by former NFL player and Last Prisoner Project ambassador Marvin Washington. The Botanist Williamstown is located at 2090 North Black Horse Pike and The Botanist Egg Harbor Township is at 100 Century Drive. The Botanist Atlantic City, located at 1301 Boardwalk, will continue to serve medical patients. The Botanist locations are open seven days a week from 10 a.m. to 7 p.m., with special hours for medical patients. Please visit shopbotanist.com for more details including hours specific to opening day.

To accommodate increased adult-use and medical operations, Acreage hired more than 25 employees and is actively seeking additional hires from economically disadvantaged areas. Acreage is committed to fielding a diverse team that reflects the communities the company serves.

WAKEFIELD, Mass., April 21, 2022 – PRESS RELEASE – Curaleaf Holdings Inc., a leading international provider of consumer products in cannabis, announced that it has been approved by the New Jersey Cannabis Regulatory Commission to commence adult-use cannabis sales. Starting April 21, 2022, the Curaleaf dispensary in Bellmawr will begin serving adult-use customers, with Edgewater Park and Bordentown to quickly follow.

RELATED: Adult-Use Cannabis Sales to Launch in New Jersey April 21

During this period of expansion, patient care for individuals licensed under New Jersey’s Medical Marijuana Program will remain Curaleaf's top priority at all New Jersey retail locations. In anticipation of increased demand, the company has tripled its cultivation capacity to ensure that medical patient supply is prioritized in the event of a product shortage. Additionally, Curaleaf will implement the following designated medical patient services for individuals who qualify:

Private consultation areasSecure online ordering systemsExpanded parking with dedicated spots for licensed medical patientsSeparate medical-patient only lines and check-outsTwo hours of operation every day dedicated solely to serving licensed medical patients, totaling 14 hours each week at each dispensary.

On April 21, adult-use consumers 21 and older can purchase up to 1 ounce of cannabis per day at Curaleaf Bellmawr, located at 640 Creek Road. Adult-use customers can choose from a product assortment that includes innovative products such as Select Squeeze, a fast-acting THC beverage enhancer, as well as traditional inhalable products including Curaleaf 3.5-gram flower jar, the Curaleaf 1-gram preroll and Curaleaf 0.5-gram vape cartridge. Shortly after launching, Curaleaf New Jersey will also offer its expanded assortment of award-winning Select products, including Select Bites and Select Elite vape cartridges, pending regulatory approvals.  

"The launch of New Jersey's adult-use marketplace is a major step forward for the cannabis industry and it is a privilege to be among the inaugural group of licensees that will mark the beginning of the state's adult-use market," Curaleaf CEO Joe Bayern said. "Our local teams look forward to building strong relationships with new consumers while deepening our ties with the medical community. Providing top-tier medical patient care remains our main priority and we have adopted considerable safeguards to make sure they can seamlessly access products to find relief. We thank you for your continued support as we join the state of New Jersey on this historic journey."

As New Jersey's cannabis market continues to evolve, Curaleaf will maintain a direct line of communication with members of the local medical cannabis community. For more information on Curaleaf's locations, patient resources and products in New Jersey, please visit www.curaleaf.com/dispensary/new-jersey.

Ohio state Reps. Casey Weinstein, D-Hudson, and Terrence Upchurch, D-Cleveland, are already sponsoring an adult-use legalization bill, but that didn’t stop them from filing similar legislation on behalf of those whom they represent.

The northeast Ohio Democratic duo filed bill language on April 20 to formally introduce the initiated statute sponsored by the Coalition to Regulate Marijuana Like Alcohol (CRMLA), a citizen-led effort that met a 132,877-signature threshold to put its petition before state lawmakers, the Ohio Secretary of State announced on Jan. 28.

The coalition’s proposed statute seeks to allow adults 21 and older to buy and possess up to 2.5 ounces of cannabis (or 15 grams of extract) and grow up to six plants per person or 12 plants per household. In addition, the proposal aims to impose a 10% tax on cannabis sales, with revenue going toward state costs to run a legalized program; substance abuse and addiction treatment programs; supporting municipalities with dispensaries; and social equity and jobs programs.

If the General Assembly fails to act and pass the statute—or an amended version of the language proposed—within four months, as determined under the Ohio Constitution, then the coalition has the option to double its signature collection (roughly 266,000 total) by early July to put the proposal directly to the voters in November.

“Marijuana legalization is overdue in Ohio,” Weinstein said in a press release to announce the 4/20 filing. “The hundreds of thousands of Ohio voters who signed this petition—and millions more who support legalization statewide—asked for action from our Legislature. Instead, GOP leaders have ignored them.”

Specifically, Ohio Senate President Matt Huffman, R-Lima, told reporters Feb. 9 (less than two weeks after the Ohio Secretary validated the signatures) that he won’t act on calendaring the CRMLA citizen proposal to legalize adult-use cannabis for floor debate in his chamber.

Missouri could be the first state where a Republican-controlled Legislature passes an adult-use cannabis legalization measure not initiated at the ballot, but the timeline is tight.

The House Rules Committee on Legislative Oversight voted, 6-4, to advance the Cannabis Freedom Act on April 19, clearing the legislation for floor consideration by the full lower chamber. The Missouri General Assembly’s 2022 session is scheduled to end May 13.

Sponsored by Republican Rep. Ron Hicks, the legislation, House Bill 2704, aims to legalize the possession and personal use of cannabis for adults 21 and older, allowing them to purchase commercial cannabis from a licensed retailer, and to cultivate and possess no more than six mature plants for noncommercial use, according to the bill summary. Personal possession limits are not defined in the current version of the 76-page bill.

Under current Missouri laws and penalties, possessing up to 10 grams of cannabis is a misdemeanor punishable by a max fine of $500 on the first offense, and up to a year of incarceration with a max fine of $2,000 on the second offense or for the possession of 10 grams to 35 grams. Possessing more than 35 grams is a felony punishable by up to seven years of incarceration and a $10,000 max fine.

The legislation also aims to release all non-violent cannabis offenders from prison and create a system for individuals to expunge cannabis-related offenses from their records.

Republican Rep. Phil Christofanelli, who chairs the House Rules Committee, said he had “grave concerns” about the current version of the bill during Tuesday’s hearing that culminated in the 6-4 committee vote to advance the legislation, the St. Louis Post-Dispatch reported.

On April 20, more attention than usual is paid to the power of cannabis. And, already, in states like Connecticut, where an adult-use market has been given the green light by voters, cannabis gets a lot of attention.

Adult-use sales are expected to begin later this year, which will amp up the excitement. For now, though, what’s needed to get a market like that off the ground? Reporter Matt Grahn at The Bulletin put that question to regional business owners. 

Long story short: Capital is being raised, and capital is being spent to acquire real estate and get facilities up and running.

“In terms of investing in these facilities, we’re going to be pumping $10 million to $15 million into Norwich,” Jason Webski, the CEO of Sweetspot Farms, told Grahn. “That’s not just investing in the real estate; that’s local contractors. It stimulates the economy in many ancillary ways.”

The Sweetspot Farms team is seeking a cultivation license in the small city of Norwich.

Just recently, Norwich aldermen revised the city’s zoning ordinances to allow “plant-based” manufacturing—specifically paving the way for just such a business as what Sweetspot Farms brings to the table. 

Michigan regulators withdrew a proposal April15 that would allow hemp-derived THC products to be sold in the licensedcannabis market.

The proposal would have permitted hemp growers to sell plants to cannabisprocessors to extract into THC to then use in products sold in the licensedcannabis market, such as edibles, vapes, and tinctures, MLive reported. Any hemp-derived THC product sold would have beenrequired to be labeled as such.

But consumer safety concerns were the main driver to withdraw the proposal.

“After receiving a significant amount of public comment regarding safetyconcerns and the lack of scientific and public health data related to theconversion process outlined in the proposed industrial hemp rules ... theCannabis Regulatory Agency (CRA) has withdrawn this request for rulemaking,” CRA officials announced Friday. CRA was formerly the Marijuana Regulatory Agency.

RELATED: Cannabis Regulatory Agency Replaces Marijuana Regulatory Agency as Michigan Cannabis Regulator

DenisePollicella, founder and managing partner at the Cannabis Attorneys of Michigan, also argued that existing producers would not be ableto compete with the out-of-state companies producing low-cost hemp to sell inthe Michigan cannabis market, MLive reported.

Minnesota growers or processors looking to cultivate hemp for the 2022 growing season must apply for a license through the Minnesota Department of Agriculture (MDA) by April 30.

RELATED: Minnesota Sees Stability in a Volatile Hemp Industry

In addition to the application, first-time applicants must undergo a background check and submit fingerprints. Individuals growing on tribal reservations that do not have an approved hemp plan must obtain a license from the tribe or USDA.

RELATED: Colorado and Montana Top Lists of Most Hemp Acres Planted and Harvested in 2021

According to Echo Press, growers and processors can also expect some changes to the 2022 program, which include:

The fee for testing THC per grower sample has been reduced from $125 to $100;growers will now be charged for the first sample collected;the MDA will now begin to inspect processor locations;and the minimum cost of a processing license is $500, $250 for the license fee and $250 for the location.]]>

The Louisiana House Health and Welfare Committee advanced legislation April 19 to expand medical cannabis access in the state.

The committee approved Rep. Joe Marino’s House Bill 758, which would expand the number of medical cannabis pharmacy licenses in the state from 10 to 25, according to the Associated Press. The legislation would set aside 30% of the new licenses for minority- and women-owned businesses, the news outlet reported.

H.B. 758 would also give preference to Louisiana pharmacists for the new licenses, according to a News Star report.

RELATED: Louisiana Legislature Considers Bills to Expand State’s Medical Cannabis Program

A separate proposal from Marino, House Bill 135, would allow patients from other states to access medical cannabis at Louisiana’s pharmacies, the news outlet reported.

As Senate leadership from both sides of the aisle has continued to hold cannabis banking reform hostage since September 2019, one of the loudest reform voices in Washington sent a letter urging those in the driver’s seat to act.

Rep. Ed Perlmutter, D-Colo., who first authored and introduced the Secure and Fair Enforcement (SAFE) Banking Act in July 2013 with former congressman Denny Heck, D-Wash., addressed the letter to Senate Majority Leader Chuck Schumer, D-N.Y., Senate Banking Committee Chairman Sherrod Brown, D-Ohio, Senate Finance Committee Chairman Ron Wyden, D-Ore., and Sen. Cory Booker, D-N.J.

“The SAFE Banking Act is an immediate solution to get cash off our streets and ensure state-legal, legitimate businesses can operate like any other type of business, particularly small and minority-owned cannabis businesses who have been disproportionately impacted by the lack of banking services,” Perlmutter wrote.

The letter, sent April 19, comes after the U.S. House has passed SAFE Banking six times, including twice as a standalone bill via a 321-103 vote on Sept. 25, 2019, and by a 321-101 vote on April 19, 2021. Most recently, SAFE Banking passed the House as an amendment to the America COMPETES (Creating Opportunities to Meaningfully Promote Excellence in Technology) Act on Feb. 3, 2022.

RELATED: Rep. Perlmutter Makes Final Push on SAFE Banking

Despite bipartisan support for the legislation, SAFE Banking has never seen the light of day in the Senate because former Majority Leader Mitch McConnell, R-Ky., never acted on calendaring it for floor debate in the upper chamber the first three times the House passed it. Now, Schumer and his Democratic colleagues have handcuffed advancing the reform effort in the latter three House passages.

RALEIGH, N.C., April 20, 2022 /PRNewswire/ -- PRESS RELEASE -- West Town Bank & Trust, a bank with a mission to make financial services more accessible to emerging and underserved industries, announces the launch of its dedicated cannabis banking program. The program provides the cannabis industry with secure, convenient, and modern financial tools, enabling businesses to operate more efficiently and reduce the risks associated with operating a cash-intensive business.

Due to federal regulations, cannabis businesses currently have difficulties accessing reliable financial products, forcing many businesses to operate without bank accounts or electronic payments. Others go to third-party intermediaries who partner with FDIC-insured banks behind closed doors. The lack of dependable financial services stunts the industry's potential for growth, profitability, and increased consumer trust.

"As one of the first banks to roll out a hemp banking program after the 2018 Farm Bill, we witnessed first-hand the role dedicated banking programs played in advancing the entire industry," says Ross Sloan, West Town Bank & Trust Senior Vice President of Hemp & Cannabis Banking, "We're excited to do the same for cannabis businesses, offering them the banking services they need to fuel not only their growth, but the growth of the entire cannabis industry."

The banking program at West Town Bank & Trust offers a full suite of financial service products to cannabis businesses and their ancillary partners. Cannabis businesses will have access to business checking accounts, electronic payment options, and more. With an in-house team entirely comprised of Certified Cannabis Bankers, regulatory compliance is a key cornerstone of the Bank's cannabis banking program.

Mel Barnes, Hemp & Cannabis Program Director at West Town Bank & Trust, believes the Bank's existing framework and successful track record in the hemp space will raise the standard for cannabis financial services, "Legal cannabis businesses should be able to access the same financial services as other industries. Using our in-house industry expertise, along with leveraging technology partners such as RiskScout, we've built a robust online onboarding and due diligence infrastructure that allows customers to access the services they need while feeling secure in their financial partner. This same infrastructure provided the opportunity to effectively scale our hemp program and we are excited to have the support from our Board of Directors and Executive Management Team to make a full commitment to serve the cannabis market."

The cannabis banking program at West Town Bank & Trust is now accepting applications at www.westtownbank.com/cannabis-banking.

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As an industry still in its early stages, hemp is a crop that still needs development in nearly all parts of its supply chain to reach maturity.

A new research initiative spanning federal governmental agencies, universities, and private companies is attempting to help facilitate connections to bolster that development.

The Hemp Research Consortium is a new initiative coordinated by the Foundation for Food & Agriculture Research (FFAR), a federal organization founded by the 2014 Farm Bill to connect funders, researchers, and farmers to support agricultural projects.

Researchers from Cornell University, North Carolina State University, and the University of Kentucky are leading the charge on research projects that will help address some of the industry’s most pressing issues, including genetic development, agricultural production systems, product development, and more.

As part of its requirement to match every public dollar spent on research with a dollar of private funding, the FFAR has secured $5 million for the research project, half of which was funded through private investments, while the FFAR matched the other half using public funds.

Leaders of the research project hope that investment is just the beginning.

How is your business celebrating 4/20 this year? 

When Chris Chiari first saw Denver’s historic Patterson Inn in 2011, he immediately saw its potential to be a cannabis consumption lounge—especially with its address, 420 East 11th Ave.

“The first time I saw the house, I literally looked up at the house and I said, ‘I want to turn you in to a marijuana bed and breakfast,’” Chiari, who purchased the Patterson Inn four years ago, told Cannabis Business Times. “It seemed like the perfect place to start telling this next chapter of the story of cannabis legalization.”

The previous owners had turned the Denver landmark into a luxury hotel, which has been operating for nearly a decade.

Now, Chiari has launched The 420 Hotels as a separate entity that will ultimately become a cannabis consumption space in the hotel’s carriage house.

Chiari views on-site cannabis consumption as the “final mile of legalization” that will further destigmatize and help normalize the plant, and he plans to unveil his consumption space at the Patterson Inn as a unique hotel amenity.

Coloradans will soon be able to enjoy a new bar-and-lounge atmosphere but without the alcohol.

JAD’s Mile High Smoke plans to open its bar-themed cannabis consumption lounge April 22 on Washington Street, on Denver’s north side, where adults 21 and older will be able to purchase cannabis products as well as smoke, eat and drink on-site.

Josh Davis, the lounge’s owner, has spent the last four-plus years helping other Colorado cannabis businesses get their feet under them as the CEO and founder of Legacy 64 LLC, a Denver-based management consulting firm specializing in compliance, applications and licensing, facility build-outs and inspections, risk management, standard operating procedure writing, and sales and marketing.

With that background and experience, Davis told The Denver Post that he’s the appropriate person to trailblaze a path for consumption lounges in the cannabis sales and hospitality business sector of the industry.

“I am giving recreational users a safe place to come in and consume marijuana,” he told the news outlet. “A safe place to come and get high, be relaxed, stay as long as you want or you have to, because I’m not going to let you leave inebriated.”

JAD’s 4,000-square-foot facility will offer a place for customers to purchase and consume/use cannabis flower, prerolls, dabs, vape cartridges, single-use vape pens and edibles, including THC-infused sparkling water, soda and non-alcoholic beer on tap at its bar, the Denver Post reported.