Cannabis industry attorney Sean McAllister of the Denver-based McAllister Law Office returned as a guest of Ricardo Baca on a recent Cannabist Show. McAllister is representing Gaia Gardens, which has been sued in a wrongful death case relating to edibles it manufactured, and discussed the case, which he expects will be dismissed.
McAllister, who also represents O.penVAPE, said that their bid to secure the naming rights to Mile High Stadium, said that the company is serious in its efforts. He pointed out that O.PenVAPE is not technically a cannabis company but rather a manufacturer of vape pens.
Baca and McAllister discussed the pending rule changes regarding residency requirements for investors in cannabis companies, which McAllister believes is a game-changer. While the top 10% of the companies are doing well, he believes that the middle of the market struggles with access to capital. He expects that there could be more consolidation in Colorado but thinks the influx of capital will help the industry quit cutting corners when it comes to regulatory compliance. McAllister is expanding his practice to Southern California and plans to fight to improve residency requirements there.
Watch the video interview between Baca and McAllister “Will the lifting of residency requirements change the Colorado cannabis industry?”: http://www.thecannabist.co/2016/06/01/colorado-cannabis-residency-requirements-lifted/54827/