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The Buddy Boy dispensary with seven locations in the Denver metro area has closed. Citing rising costs and economic issues, owner John Fritzel made the decision to close all Buddy Boy locations. In addition to the economic conditions, Fritzel indicated that new state regulations effecting medical marijuana have a detrimental impact on the industry. House Bill 1317 was passes last year with broad bipartisan support. The intent was to curb illegal teen use of cannabis products as well as adult overconsumption of high-potency THC products. The Bill limits how much concentrated cannabis medical marijuana patients can buy each day and allows the state to track purchases to enforce that limit. The law also requires certain concentrate products, called dabs or shatter, to be packaged in single doses. In addition, the Bill requires that patients who are 18 to 20 years old must have the signatures of two doctors from separate practices before they can get a medical marijuana card. House Bill 1317 also requires doctors to recommend a maximum THC potency for medical marijuana products and set a daily use limit if what the patient needs is higher than what’s allowed by law.
There may be more to this story than economic conditions. According to local reports, Buddy Boy Brands were closed by the city of Denver for alleged nonpayment of taxes. Buddy Boy Bands were rough $500,000 behind in back taxes.