BRECKENRIDGE ADOPTS MORATORIUM ON NEW MEDICAL MARIJUANA DISPENSARIES

Breckenridge Town Council on Tuesday unanimously passed an ordinance
imposing a nine-month moratorium on the acceptance and processing of
applications for new medical marijuana dispensaries and grow
operations in Breckenridge.

This moratorium does not affect existing dispensaries and is effective
immediately.

Council members expressed concern about the growing number of
dispensaries licensed to operate in Breckenridge. Another concern was
that the town would be flooded with new applications before the July 1
deadline from Colorado House Bill 10-1284, which regulates the
commercial sale and growing of medical marijuana.

This moratorium will allow the town to study the effects of state laws
as well as the rapidly growing industry in Colorado, and will allow
the town to make any needed changes to the its existing ordinance in
light of the new state laws.

Council recognizes that this is a unique industry - as possession of
marijuana remains a federal offense - and feels it is in the best
interest of the community to further study the recently adopted state
laws.

On Sept. 22, 2009, the council adopted regulations for dispensaries in
town limits. There are six dispensaries operating in town, and one
pending application submitted before Tuesday. This moratorium does not
have an effect on the currently licensed dispensaries or applications
submitted before Tuesday.