American Cannabis Company, Inc. Receives Approval from Colorado’s Marijuana Enforcement Division (MED) and the City of Colorado Springs to Acquire, Own, and Operate Naturaleaf™ in Southern Colorado

COLORADO:  American Cannabis Company, Inc. announced that on April 30, 2021, Colorado’s Marijuana Enforcement Division (MED) and the City of Colorado Springs granted regulatory approvals for the Company’s acquisition and operation of Medihemp, LLC, and its wholly owned subsidiary SLAM Enterprises, LLC, and Medical Cannabis Caregivers, Inc., all doing business as Naturaleaf™, a long-standing vertically integrated cannabis business.

As a result of the regulatory approvals and the closing of the asset purchase, the Company acquired Naturaleaf’s three medically licensed retail stores, and a 10,000 square foot cultivation and extraction facility located in the metropolitan area of Colorado Springs. Naturaleaf™ has earned a strong reputation for its quality products and customer experience, having served its loyal and growing patient base since 2009. 

“We are incredibly happy to have completed this acquisition, and this is only the beginning,” said Terry Buffalo, Chief Executive Officer of American Cannabis Company. Buffalo continued, “With the approval from the regulatory bodies now behind us, this is where the real work starts. Brand integration is key for success, and our team is working diligently to dial in processes and procedures, as well as implementing ACC’s company culture and core values, while also maintaining Naturaleaf™ brand integrity. We look to expand production capacities by revamping the cultivation operation, adding technology and equipment, including our proprietary cultivation methodologies and ‘just add water’ all-natural potting mix, SoHum Living Soils®, to effectively grow a consistent, high-value flower product. In addition to the modifications we plan to make in the back of the house, we also aim to elevate the retail experience by adding best-in-market products, new retail equipment and technologies to maximize customer/patient experience, as well as maintain consistent inventories. With this acquisition we anticipate over $2mm+ in gross revenue, and we look to increase upon that. For more details, please read the Company’s most recent 8-K filings.”

Scott Saunders, owner of Naturaleaf™, commented: “We are happy to have been acquired by American Cannabis Company. Since 2009 Naturaleaf has been pioneering the local medical market. The staff is excited to transition under the ownership of a public company, and I am excited for the people of Colorado Springs to see what American Cannabis Company is going to bring to the local community.”

Overall Transaction Background

On December 10, 2020, American Cannabis Company announced that it had executed a non-binding letter of intent to acquire all three (3) Naturaleaf™ medical marijuana centers along with its ten thousand (10,000) square foot commercial cultivation facility that also includes non-volatile extraction facilities.

On March 11, 2021, American Cannabis Company announced that it had executed the official Asset Purchase Agreement (APA) and on April 20, 2021 the Company received a contingent approval letter from Colorado’s Marijuana Enforcement Division (MED), outlining the change of ownership.

After now having obtained final regulatory approval transferring the Naturaleaf™ licenses to the Company, and finalizing the closing of the asset purchase transaction as of April 30, 2021, the Company plans to acquire additional local and national cannabis assets and brands, with the goal of creating a portfolio of cannabis assets elevating the consumer experience through a commitment to wellness, quality products, and cleaner green practices.

For a complete disclosure of the asset purchase agreement, see the Company’s Form 8-K filed with the Securities and Exchange Commission:

https://www.sec.gov/Archives/edgar/data/945617/000172186821000142/f2sammj8k031121.htm

For a complete disclosure of the acquisition for Naturaleaf™ and the received regulatory approval, see the Company’s Form 8-K filed with the Securities and Exchange Commission:

https://www.sec.gov/Archives/edgar/data/945617/000172186821000254/f2sammj8k043021.htm

Proposed New Law Aims To Allow Cannabis In Bars And Clubs, But Is That The Best Way To Socially Smoke Pot?

COLORADO:  It’s a busy afternoon at The Lazy Lion, a members-only marijuana club in this notoriously conservative city. Inside the windowless one-story building in an industrial part of town, attendees who’ve paid the club’s $5 daily membership fee line up at a glass bar to acquire bags of marijuana or take hits from one of the establishment’s water pipes, for which they hand over a cash “reimbursement” (under Colorado law, people aren’t allowed to consume cannabis at locations licensed to sell marijuana).

Colorado Springs has banned recreational-marijuana shops in the city, but its zoning laws allow for private clubs, which is where establishments such as The Lazy Lion fit in. These sorts of gathering places are desperately needed, says the club’s general manager, Aaron Stone. “A lot of time on the retail side, people leave the stores with misinformation, and don’t know how to use what they buy,” he says, noting that in its two-and-a-half year run, The Lazy Lion has played host to job interviews, homework sessions and even post-wedding celebrations.

But would Colorado tourists or marijuana novices really feel at ease inside a place such as The Lazy Lion? And if not, where should people go to consume cannabis with their peers? Marijuana, with its pass-the-joint cultural heritage, has always been a social drug. But so far, recreational-marijuana laws have steadfastly avoided dealing with the social parameters of cannabis use. Colorado and other states that have legalized marijuana have outlawed public cannabis consumption, but what about consumption behind closed doors and among consenting adults? It’s a conundrum that has major financial and social implications for the developing legal marijuana industry.

A proposed Denver initiative aims to solve the problem by allowing establishments like bars to permit limited marijuana consumption on the premises, but people are torn as to whether marijuana use should be segregated in separate-but-equal cannabis establishments or integrated with other vices such as alcohol.

More Pot Packaging Battles Loom As Legislative Session Nears

COLORADO:  Marijuana entrepreneur Nick Brown prefers education to regulation when it comes to the packaging, production and marketing of edible pot products so they stay out of the hands (and mouths) of kids.

“With cannabis, parents really need to explain the edible side of things to their children,” Brown said. “You really could end up in the hospital or at least think you need to go to the hospital if you consume too much of an edible product – the gummy bears, the cookies, the brownies.”

That educational focus is understandable coming from Brown, an owner of High Country Healing and its seven retail and medical outlets in Silverthorne, Colorado Springs and Alma. The Princeton grad says his career arc in the pot biz dispels many marijuana myths.

“I’ve consumed cannabis the majority of my life – I’m 32 years old – and I’ve never done a hard drug in my life,” he said. “It’s been the opposite of a gateway drug for me. I was actually the Colorado Football Player of the Year in high school and then I ended up playing football at Princeton for four years while consuming cannabis the whole time. I graduated in four years.”

Marijuana legalization: The blustery crosscurrents of change

COLORADO: Colorado Springs is among the cities debating whether to allow retail sales of marijuana for recreational use. New Hampshire may soon be the 19th state to support marijuana legalization for medical use.When it comes to marijuana legalization, the pot-scented winds of change are blustery.

It’s sometimes hard to read the prevailing winds. [Read more…]

Marijuana legalization: The blustery crosscurrents of change

COLORADO: Colorado Springs is among the cities debating whether to allow retail sales of marijuana for recreational use. New Hampshire may soon be the 19th state to support marijuana legalization for medical use.When it comes to marijuana legalization, the pot-scented winds of change are blustery.

It’s sometimes hard to read the prevailing winds. [Read more…]