Colorado Springs Receives First Cannabis Lounge License in Colorado
Two cannabis lounges in Denver, Colorado completed their applications for a cannabis lounge license this morning on Saturday, December 21st. The first business to apply, a social lounge in Colorado Springs, Studio A64, applied for the cannabis lounge license only hours before The Coffee Joint. Studio A64 became the first social lounge to apply for a consumption license in the state of Colorado. Both businesses applied for the cannabis lounge consumption license at the state Marijuana Enforcement Division office.
Rita Tsalyuk and Kirill Merkulov, owners of The Coffee Joint, stated: “This is bigger than us. It’s just a bigger step in the industry. It opens the door to do something different and plan ahead for the next year.”
Cannabis consumption areas in Colorado haven’t been a thing for long within the state that first legalized recreational cannabis in 2013. The Colorado General Assembly passed a bill in 2019 that allowed businesses who qualify to apply for a cannabis consumption license. House Bill 1230 allowed for businesses such as art galleries, restaurants, hotels, yoga studios, and more to apply for this cannabis consumption license. A tasting license, similar to what breweries have, is also an option along with a private consumption license.
The difference in Denver allows for cannabis companies who have a cannabis lounge to stay open through a 2016 initiative. A social consumption program, Initiative 300, was passed by voters in 2016. This initiative granted businesses the ability to apply for a social cannabis consumption license on a limited basis in areas throughout Denver. So far, the Coffee Joint has been the only cannabis business with a lounge to stay open in Denver. It is expected that the city of Denver will revisit the rules on public lounge consumption of cannabis in 2020.
“It feels like a relief to get the application done, but it feels like we accomplished something,” Merkulov says. “This isn’t really a material thing we can measure, but we can at least tell it’s one step further to expanding.”
Colorado Springs Receives First Cannabis Lounge License in Colorado
About Cannin: Your Marijuana Investment Experts
Market analysts expect the marijuana and hemp industry will have an annual value exceeding $75 Billion in the next decade. The time to invest in hemp and marijuana stocks is now. Are you looking to buy stock in hemp companies or marijuana companies? Interested in emerging penny pot stock companies? Looking for the best Canadian marijuana company to invest in?
Cannin is your trusted resource for information about Marijuana and Hemp stock investment opportunities. Our global team of experts evaluates hundreds of emerging marijuana stock investing opportunities. We aggregate hundreds of hours of research and provide tips on the best marijuana stock investments for 2020. We provide the latest marijuana investment and hemp investment news and analysis.
Visit our site for breaking cannabis investing news and featured companies, sign up for the free Cannin Chronicle or get a free trial of our smart marijuana stock algorithm to take the guesswork out of profiting from this exciting industry. Predict the price of marijuana stocks hours in advance with our proven machine learning algorithm. Is it too late to invest in marijuana stocks? No! This is the perfect time to invest.
Profit from the best marijuana stocks – we’ll show you how at cannin.com
