New Colorado Law Has Opened the State's $1.5 Billion-A-Year Cannabis Industry to Outside Investors and Capital
DENVER, May 30, 2019 /PRNewswire/ -- Medicine Man Technologies, Inc. (MDCL) ("Medicine Man Technologies" or "Company"), a rapidly growing, vertically integrated cannabis operator, today cited the signing of the Colorado House Bill 19-1090 by Colorado Governor Jared Polis and applauded the passage of the bill.
House Bill 19-1090 was introduced in January to repeal the provisions that prohibit publicly traded companies from holding a marijuana license. Sponsored by Representatives Gray and Van Winkle and Senators Gonzales and Hill, the bill went through the House and Senate Committees over the course of four months. The final decision was made on April 27, 2019 by the full legislature with a vote of 27-7-1, and with the signing of the bill by Governor Polis today, the bill was made effective immediately.
"This is an incredible milestone, and we are witnessing a monumental occasion for the Colorado cannabis industry," said Mr. Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies. "At a time when cannabis is valued at $1.5 billion and is expected to grow to $2.1 billion by 2022 in Colorado alone, this legislation will serve to accelerate Colorado's leadership position in the entire cannabis industry, and those entities fortunate enough to do business in our state â including our own. This was a tremendous win for the industry and for Medicine Man Technologies as we approach closer to securing our acquisitions of MedPharm and Medicine Man Denver."
House Bill 19-1090:
For more information about Medicine Man Technologies, please visit https://www.medicinemantechnologies.com/.
For more information regarding HB19-1090, please visit https://leg.colorado.gov/bills/hb19-1090
About Medicine Man
Technologies
Medicine Man Technologies is a fully
integrated operator in the cannabis industry, offering consulting,
retail pharma-grade products, and turnkey solutions for cannabis
cultivators for over a decade. Medicine Man Technologies is
leveraging its expertise and intellectual property to vertically
integrate retail, cultivation, formulation, and distribution
operations. The Company's client portfolio includes active and past
clients in 18 states and seven countries.
Forward-looking Statements
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release contains "forward-looking statements." Such statements may
be preceded by the words "intends," "may," "will," "plans,"
"expects," "anticipates," "projects," "predicts," "estimates,"
"aims," "believes," "hopes," "potential," or similar words.
Forward-looking statements are not guarantees of future
performance, are based on certain assumptions, and are subject to
various known and unknown risks and uncertainties, many of which
are beyond the Company's control, and cannot be predicted or
quantified. Consequently, actual results may differ materially from
those expressed or implied by such forward-looking statements. Such
risks and uncertainties include, without limitation, risks and
uncertainties associated with (i) our inability to manufacture our
products and product candidates on a commercial scale on our own,
or in collaboration with third parties; (ii) difficulties in
obtaining financing on commercially reasonable terms; (iii) changes
in the size and nature of our competition; (iv) loss of one or more
key executives or scientists; and (v) difficulties in securing
regulatory approval to market our products and product candidates.
More detailed information about the Company and the risk factors
that may affect the realization of forward-looking statements is
set forth in the Company's filings with the Securities and Exchange
Commission (SEC), including the Company's Annual Report on Form
10-K and its Quarterly Reports on Form 10-Q. Investors and security
holders are urged to read these documents free of charge on the
SEC's website at http://www.sec.gov. The Company assumes
no obligation to publicly update or revise its forward-looking
statements as a result of new information, future events, or
otherwise.
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