Owner of Denver’s Storied Patterson Inn Plans a First-of-Its-Kind Cannabis Consumption Lounge in a Boutique Hotel to Meet Tourism Demand
DENVER, May 17, 2022--(BUSINESS WIRE)--The 420 Hotels Inc. is entering the next phase of opening Denver’s first legally licensed cannabis consumption lounge in a boutique hotel by announcing the launch of an equity crowdfunding campaign, and by filing their Form C with the SEC, through the investing platform Republic.com. This campaign is now open to anyone who wants to get in on the ground floor of a new era for cannabis hospitality.
"We’ve cleared the major hurdles to create a truly unique, 4-star hotel experience where cannabis is welcome," said Chris Chiari, CEO and Founder of The 420 Hotels Inc., which owns the historic Patterson Inn. "With our successful refinancing amid the pandemic and rezoning granted from the city of Denver last year, and our now provisional cannabis hospitality license, we're thrilled to move full steam ahead in launching this equity financing campaign."
The 420 Hotels Inc. is developing this first location by adding a well-appointed cannabis consumption lounge as an amenity to the adjacent Patterson Inn. Hotel guests and annual members will be able to legally smoke and vape cannabis flower and concentrate, and consume infused edibles in a safe, sophisticated and legal lounge environment. A distinguished National Landmark built in the 1890s, the Victorian-style boutique hotel is situated in the heart of Denver’s upscale Capitol Hill neighborhood.
"Creating and licensing space for responsible cannabis consumption represents the final-mile in legalization," Chiari continued. "In the years since Colorado legalized adult-use cannabis, public consumption in parks, on sidewalks and in vehicles continued to be the only option left available to tourists for too long. I’m proud that The 420 Hotels is on the forefront of providing a solution."
The 420 Hotels Inc. has now launched an equity crowdfunding campaign through Republic.com, a private investment platform for investors seeking high growth potential in highly vetted, early stage ventures.
About The 420 Hotels Inc.
The 420 Hotels aims to be amongst the nation’s first hotel chains where guests will be able to consume cannabis onsite in legally licensed lounges. The company is converting intimate boutique hotels into high-end, members-only cannabis consumption clubs merged with luxury overnight accommodations that will offer both sophisticated locations to consume and onsite guest service representatives who can advise consumers on safe consumption practices. The 420 Hotels intends to expand to multiple locations over the next several years as more municipalities and states across the country pass laws that allow for onsite consumption of cannabis in commercial establishments.
Republic is a leading investment platform that provides access to startup, real estate, crypto, and gaming investments for both retail and accredited investors. Republic has facilitated over $700 million in investments by our global community of 1.5 million members. For more information, terms and conditions, visit www.republic.com.
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With regard to communications by an issuer on the Site to gauge interest in a potential securities offering pursuant to the Regulation CF exemption from the registration requirements of the Securities Act, including opportunities to "reserve" securities as indications of interest in the potential offering, please note that pursuant to Regulation Crowdfunding Rule 206 (i) that no money or other consideration is being solicited thereby, and if sent in response, will not be accepted, (ii) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through a registered intermediary’s platform, (iii) any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given after the Form C is filed, and (iv) an indication of interest is non-binding and involves no obligation or commitment of any kind.
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