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1090 Timeline

| August 30, 2019

Here are 6 key takeaways from this interview with Chuck Smith on HB-1090:   House Bill 1090 became law on May 29, 2019. It allows investment into Colorado’s cannabis industry from outside the state. The bill mirrors some of the growing pains of Amendment 64, passed on January 1, 2014. Guardrails and steering committees must be in place to ensure the bill has its desired effect. Colorado’s Phase 1 in the cannabis industry involved the structuring of a regulated recreational cannabis industry. Phase 2, then, entails positioning Colorado as a research hub for cannabis. In order to invest in Phase 2, new sources of income are necessary. With the funds from 1090, Colorado can generate new ideas, new investment capital, and new ways of doing business that they can innovate within the state and then push out to the rest of the country. The goal is to have all the rules made and signed off on by Q4 of 2019. At that time, the MDB can start receiving applications from companies that they can vet in order to invest and/or acquisition licensed holders in Colorado. Dixie Brands will be right at the forefront of filling out that application so they can work more closely with our Colorado licensee.   Watch below to hear Chuck Smith go into more details on these points.  

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