Donated to History Colorado by Canyon LLC. ,
Canyon LLC:
Founded in 2010, Canyon LLC is a leading Colorado manufacturer of all-natural, cannabis-infused edibles and was one of the first edible cannabis companies established in Colorado. Morgan Iwersen, Canyon LLC Founder and Chief Executive Officer, started the company initially for the medicinal cannabis market and the company grew to include recreational marijuana products after the passage of Colorado Amendment 64. Canyon LLC received one of the first 50 licenses to produce cannabis products; the company grew over 400% after Amendment 64 passed in 2012. The main product they sold was a sublingual tincture "Drop It" and the focus of their micro dosing product line. All of its products are gluten-free, GMO-free, and made in-house. Canyon is expected to generate gross revenues of $3.3 million in 2019. Andrew Iwersen is the co-owner and Managing Partner of Canyon LLC.
Denver, Colorado-based, Medicine Man Technologies, Inc. (“Medicine Man Technologies” or the “Company”), announced in September, 2019 that it has entered into an agreement to acquire Canyon LLC (“Canyon”) for $5.13 million. Medicine Man Technologies is a provider of cannabis consulting services, nutrients, and supplies. (See attachment, "Medicine Man Technologies to Increase Its Manufacturing Efficiencies and Branded Product Offerings with Binding Term Sheet for Canyon LLC")
Morgan Iwersen was born in Boulder, Colorado in 1975. Andrew Iwersen moved to Boulder in 1976. ,
Colorado Amendment 64:
The measure passed on November 6, 2012, Governor John Hickenlooper officially added the law to his state's constitution on Monday December 10, 2012, and the commercial sale of marijuana to the general public began on January 1, 2014, at licensed establishments. The Amendment allows adults 21 and older to purchase up to one ounce of marijuana from specialty marijuana dispensaries and grow up to six marijuana plants in their homes. Possession is limited to up to an ounce for personal use, but selling marijuana without a license, purchasing marijuana from a party who is not licensed as well as public use of marijuana remains illegal. Under Amendment 64, marijuana is taxed and regulated similar to alcohol and tobacco. It gives state and local governments the ability to control and tax the sale of small amounts of marijuana to adults age 21 and older. (See attachment, "How Colorado Amendment 64, Changed the Legal Cannabis Landscape")