Aspen licensing authority weighs $8 million Green Dragon sale | AspenTimes.com

Aspen licensing authority weighs $8 million Green Dragon sale

Karl Herchenroeder
The Aspen Times
Customer Will Hart makes a purchase at Green Dragon Monday afternoon.
Jeremy Wallace/The Aspen Times |

The Local Licensing Authority will weigh a change of ownership application associated with a potential $8 million sale of Aspen Green Dragon, one of six cannabis dispensers in town, at 9 a.m. Tuesday.

Ryan Milligan, co-owner of Denver-based cannabis company Greenwerkz, filed the application recently with City Clerk Linda Manning. Today’s hearing, which begins at 9 a.m., represents the first set of hurdles in the potential deal with Green Dragon.

The purchase price listed in the application is $8 million, which involves a $7.25 million loan from Andrew Levine, of Denver. When asked if the sale is for the entire Green Dragon business and brand, Milligan said Monday that it’s too early to discuss details. Green Dragon currently operates at two locations, with medical and recreational operations in Aspen and Glenwood Springs. The potential deal would require multiple state and local approvals for multiple licenses.

“It’s a little premature to discuss it,” Milligan said. “Public hearing, license applications — all that stuff means I would like to do this, but there’s a lot of channels to go through before you get an approval. I’ve got the public hearing (today), and just kind of got to let things shake out a little bit.”

Green Dragon ownership could not be reached for comment Monday.

According to the application, Greenwerkz is linked to seven recreational operations and nine medical operations throughout Colorado, including a location in Glenwood Springs. The company was founded in 2009.

Green Dragon opened its Aspen location in March 2014. At one point owners were operating two Hyman Avenue shops, with medical separated from recreational. Both operations now cohabitate in a Hyman Avenue pedestrian mall space. Ron Radtke has owned and operated parent company Green Essentials Medical, LLC in Glenwood Springs since January 2013.

herk@aspentimes.com


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