Springs Dreams, seeking investors, PTSD, and more 


Smoking in the 'burbs

Holland Park is joining the cannabis club scene. Springs Dreams (4157 Centennial Blvd., facebook.com/springsdreams) opened July 18 in what was for years a chiropractic office. Owner Eddie Martinez, 38, is a Springs native, and he's happy to bring a new business to the neighborhood.

"I think everybody should have a neighborhood cannabis club to go to, just like a neighborhood bar," Martinez says. "I always thought it would be nice for smokers to have a place to go and chill out."

And chill is the word; on opening day, the space was relaxing and welcoming with a warm paint job and an open bar area damping any residual doctor's office vibe.

"We did quite a bit of remodeling already," says Martinez. Future plans, he says, include adding a pool table and converting a storage room into a second private room. Martinez also wants as much live entertainment as he can book.

All flower, concentrates and edibles are grown and made in-house. Cover is $5 for men, but women pay a one-time $5 fee. Because club members reimburse Springs Dreams for growing their plants, you can take home what you don't smoke there.

The other green

Every cease and desist order in the industry is a learning opportunity for others. Take the recent case of Ryan M. Quinn of MMJ Mountain Resorts. He tried Craigslist to seek investors for two to three dispensaries in and around resort towns. But Quinn didn't follow due diligence with the Colorado Division of Securities).

"To sell securities in Colorado, you have to be licensed with the Division of Securities," says Jillian Sarmo of the DoS. "He was soliciting investors in direct violation of those statutes." She notes that all securities — stocks, bonds or options — must also be registered with the DoS.

As for how to do legitimate business, Sarmo says "[Marijuana companies] could certainly give the Division a call if they want to attempt to [seek investors]."

"The Colorado Crowdfunding Act could be an avenue for that when it comes into effect in August," notes Sarmo. HB 15-1246 allows online intermediaries — think Kickstarter and its kin — to "match a Colorado investor with a Colorado business that wishes to sell securities pursuant to a simplified regulatory regime." The bill imposes limits on how much money can be involved and requires issuers to keep investors informed about the increased risk.

Keef crumbs

• Citing a lack of scientific evidence, the Colorado Board of Health voted 6-2 against allowing medical marijuana treatment for post-traumatic stress disorder on July 15. Electa Draper of the Denver Post reported the decision was met with boos and hisses. But, as we noted in last week's CannaBiz, Dr. Sue Sisley has received a grant from the Colorado Department of Public Health to do a proper clinical trial on the effects of cannabis on PTSD.

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