How new rules in two states could give birth to Big Marijuana
When the legal pot industry began to boom in Washington, big-money investors predicted the cannabis trade in the Northwest would soon be the darling of corporate America.
Former Mexico President Vincente Fox appeared at a Seattle news conference in 2013 along with pot entrepreneur Jamen Shively, who laid out plans to create the first national brand of marijuana and promised Big Tobacco-like growth.
“Yes,” he said, “we are Big Marijuana.”
But it all went up in smoke and Shively’s national pot brand never materialized.
The Washington State Liquor and Cannabis Board this week introduced a rule that will allow investors from around the U.S. to help finance the state’s exploding legal marijuana industry. Oregon approved a similar practice last month, and Colorado is expected to follow suit, eliminating its two-year residency requirement for financiers.
Though the change comes with risks of
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