Marijuana co. with local ties headed for IPO

Three local marijuana dispensaries have gone corporate, signing licensing agreements with Altitude Organic Licensing Corporation.

Three of the company’s Altitude Organics stores are in Colorado Springs. They are located at 409 S. Nevada Ave., 822 W Colorado Ave and 204 Mt. View Lane.

The Denver-based firm is a venture partner with The Amergence Group of Scottsdale. The firms hope to eventually transition their joint operation to a public company, said Altitude Organic CEO Brian Cook in a statement this week.

“We endeavor to meet the demand from new licensees and rapidly grow our business at a pace that is consistent with the current growth of this multibillion dollar market,” he said.

Medical marijuana is now legal in 14 states and the District of Columbia.  A New York Times article June 25 titled, “When Cannabis Meets Capitalism” http://www.nytimes.com/2010/06/27/business/27pot.html stated the Colorado Medical Marijuana patient registry is still adding 1,000 names per day, netting the state more than $90,000 per day in revenue.

Altitude Organics Licensing Corp. generates its revenue by licensing its pending “Altitude Organic™” Federal Trademark to dispensaries.

The company also offers medical cannabis advocacy and consulting services to its licensed dispensaries. The corporate website is www.AltitudeOrganicMedicine.com.

All of the stores under the Altitude Organic brand get joint marketing help from the parent organization. In addition they get access to services such as national brand recognition, legal support, public awareness, purchasing power for all approved partner products and services, medical consulting, graphic design assistance, commercial real estate placement and dispensary operation support.