Drug firm makes play for Cdale pot operation
An international pharmaceutical company has moved to purchase a Carbondale marijuana dispensary, cultivation facility and lab.
Easton Pharmaceuticals Inc. said Monday it signed a letter of intent to lend money to Cultiv8 LLC to purchase Doctor’s Garden, which is owned by Colorado Product Service LLC, and was the first recreational store to open in the valley, grossing over $1 million in its first year.
Easton, which has offices in Toronto and Chicago, owns topically delivered drugs and both therapeutic and cosmetic health-care products focused on cancer and other health issues. Recently, the company ventured into the medical marijuana industry with a partnership agreement with California-based Medicated Markets International, which owns a cannabis gel formulation.
Upon execution of a closing agreement with Colorado Product Service, Easton intends to purchase a cultivation facility and lab that would supply the dispensary and wholesale market with marijuana and Easton’s infused product formulations within Colorado.
“The purchase is a strategic acquisition of a marijuana dispensary in a beautiful mountain town off the only major highway providing winter access to Aspen, a popular ski resort and tourist destination,” Easton said in a news release.
James Leonard, co-owner of Doctor’s Garden, emphasized that it’s early in the process.
“We’ll see where it goes. I don’t count my eggs before they’re hatched,” he said.
“This has been a dream career. It’s not something we’d give up lightly,” he added. “If this doesn’t go through, we’re super stoked to stay the Doctor’s Garden.”
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
At a public meeting in Rifle Tuesday, those in favor of stricter emission requirements for oil and gas companies outnumbered opponents 3 to 1.