To spur investment, marijuana businesses want rules eased
OLYMPIA — A leading marijuana industry group wants to erase a legal barrier to out-of-state investments in existing businesses and create a new stream of funding for start-ups run by women and minorities.
The Washington CannaBusiness Association is looking to get rid of the rule that a person must live in Washington at least six months before they can obtain a license for or purchase equity in a marijuana growing, producing or retailing operation.
This would open the door to potential investors who are now pouring venture capital into recreational markets of other states, said Vicki Christophersen, executive director of the association which represents producers, processors and retailers.
“We’re seeing that our companies are left behind in access to capital,” she told reporters Monday. She couldn’t say how much might be secured by Washington business but said she anticipated “a significant amount” would flow into the state if the restriction is removed.
https://www.heraldnet.com/business/to-spur-investment-marijuana-businesses-want-rules-eased/?utm_source=DAILY+HERALD&utm_campaign=6217c41646-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_d81d073bb4-6217c41646-228635337
= new reply since forum marked as read
