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Posted March 12, 2014
Cannabis Shortage Combatted by GrowLife GIFT
By Juliette Fairley
L.E.A.F. Aspen's transaction involved Articulated Investors, a real estate investment company in New York.
"Articulated Investors purchased a commercial building in Aspen, Colorado and they are leasing that building to the team at L.E.A.F. Aspen," Scott told MainStreet. "Before companies like Articulated Investors are prepared to go forward with real estate acquisitions they want to be confident that leasees, such as L.E.A.F. Aspen, will service the lease with agreed upon payments."
Currently, GrowLife (PHOT) is considering 10 to 20 other GIFT transactions with various legal cannabis related companies.
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"It's a great way for cannabis companies and especially start ups to get into the industry," said Darrin C. Duber-Smith, marketing professor with Metropolitan State University in Denver. "It's simply smart marketing on the part of GrowLife because the state of Colorado is wide open to these alliances right now. It's also a good opportunity to make money at least in the short term and building goodwill in the industry isn't a bad idea either."
The GIFT program was launched on the heels of an emerging shortage of legal cannabis in Colorado, which is partly a result of a state requirement that the nearly 20 dispensaries of legal cannabis in Denver grow 70% of the amount they sell.
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