Colorado to Ease Restrictions on MJ Investors
On May 6, 2015, Colorado legislators approved a measure that will ease restrictions on out-of-state investment in marijuana businesses. Although the law does not eliminate the existing two-year residency requirement for investors, it creates a work-around that, according to Amanda Ostrowitz, Co-Founder and Chief Strategy Officer of CannaRegs, Ltd., “will make investment significantly more appealing and ultimately support the creation of an efficient secondary market for capital and debt investments in the legal cannabis trade.”
Colorado law currently provides that a license will not be issued to a marijuana business owner who has not been a resident of Colorado for at least two years prior to the date of the application. The restriction seems an effort to demonstrate good faith in honoring the Cole memorandum’s focus on preventing revenue from the sale of marijuana from going to criminal enterprises and preventing the diversion of marijuana from states where it is legal...
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