As we get closer and closer to the election, contributions to both pro-legalization and anti-legalization efforts have not stopped. Yesterday we wrote about how billionaire Sheldon Adelson was putting millions of dollars towards fighting the legalization of marijuana in this election. In one Colorado county specifically, the Chieftain's Peter Strescino reported recent contribution statistics from the Colorado Secretary of State.
Pueblo County, Colorado has been a hot-bed for legalization efforts in the election, and these opposing industry groups have been receiving contributions up to the end. It is clear which side the money is on. Below is a pie chart showing the relative share of the contribution money for the opposing Pueblo County initiatives.
In the recent fundraising period we see a massive difference between nearly $250,000 raised by pro-legalization group, Growing Pueblo's Future, and the less than $18,000 raised by anti-legalization group, Citizens for a Healthy Pueblo.
Proposed by Citizens for a Healthy Pueblo, Ballot Issue 200 "would prohibit retail sales of recreational marijuana and require all existing retail marijuana facilities to close" according to KOAA's Shayla Girardin. If passed, this would be terrible news for a lot of recreational marijuana facilities and recreational marijuana retailers in Pueblo County. Two Rivers Water & Farming Co. (OTC:TURV) has stepped up as a major contributor to pro-legalization group, Growing Pueblo's Future.
Two Rivers Water & Farming:
Growing Pueblo's Future just received a $20,000 contribution from TR Capital Partners LLC of Denver included in the $237,145 total. TR Capital Partners is listed as a subsidiary of Two Rivers Water & Farming.
According to Two River Water & Farming's profile on OTC Markets, "Two Rivers current farm operations convert feed crop farmland into fruit and vegetable crop production in Pueblo County Colorado, which generates six times more revenue with better profit margins. In November 2012, Colorado legalized the personal use and cultivation of marijuana. As a result, Two Rivers is providing greenhouses and processing facilities for licensed marijuana growers in Colorado on land with water rights not used for fruit and vegetable crop production."
Essentially, Two Rivers Water & Farming owns and acquires farmland with attached water rights, then develops higher revenue and higher profit operations (like leasing cultivation facilities) on the farmland. Two Rivers Water & Farming has a majority owned subsidiary, GrowCo, Inc., which owns major marijuana cultivation and processing facilities in Pueblo County that they lease to tenants. Additionally, Two Rivers Water & Farming sells unused water rights to these marijuana cultivation tenants. This means that Two Rivers Water & Farming has a lot to lose if Issue 200 gets passed. Tenants of their facilities will be forced to move operations elsewhere.
Tax Benefits to Pueblo County:
Cannabis tax benefits include $3,000,000 to complete Pueblo County High School construction, $900,000 annually to a Cannabis Studies Program at Colorado State University - Pueblo, and more. For a full info page on all the benefits of legalized marijuana in Pueblo County are, click here.
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