Kine Mine dispensary is sold to new owner

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Idaho Springs city council votes to approve the sale

By Ian Neligh

The Kine Mine marijuana dispensary in Idaho Springs has a new owner.

IgadI Ltd., which owns marijuana businesses in Tabernash and Central City, bought the business at 2918 Colorado Blvd. from Theran Snyder.

The Idaho Springs city council unanimously approved the sale on Nov. 14. Because of restrictions in the city regarding marijuana businesses and the need for associated permits, the sale needed council approval.

Council member Jason Siegel, who is the Kine Mine’s general manager, recused himself from the discussion and vote.

David Michel, attorney for IgadI, told the city council that his company takes marijuana compliance very seriously and the company was excited for the opportunity provided by the Kine Mine and its two grow houses in the city.

“We really do believe that the Kine Mine location is a phenomenal one. We think we’ll be able to increase sales by drawing in more traffic off of (Interstate) 70, with the help of the new entrance and exit that is there,” Michel said. “We’ll be able to increase sales without taking away from the current market share of what’s already vital to the tax base for your community.”

Michel said IgadI would likely be looking at opening more stores in other locations in Colorado as well.

“We’re excited about taking over these locations, as well as potentially, at a later point in time, increasing production, increasing jobs as we keep up with hopefully doing more production for increased sales that we are able to get in Idaho Springs,” Michel said.

“We’re thrilled to be taking over the Kine Mine operation,” he said. “It’s a great operation, a great location (and has a) great general manager.”

The Kine Mine comes with two grow facilities at 2058 County Road 314 and 2820 Colorado Blvd.

The vote to approve the sale was unanimous.

“It passed,” said Mayor Mike Hillman. “Welcome to our community.”