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$36 million raised for Ohio marijuana legalization proposal

COLUMBUS, Ohio -- Investors have raised at least $36 million to fund ResponsibleOhio's plan to legalize marijuana and purchase the commercial growing sites promised to investor groups.

Investors contributed $4 million to each of nine limited liability corporations tied to ResponsibleOhio last year, according to securities offering filings with the U.S. Securities and Exchange Commission. ResponsibleOhio officials have said they expect to spend more than $20 million to get their constitutional amendment on the statewide ballot and passed by a majority of voters in November.

Legalizing marijuana Several proposals are in the works to legalize marijuana in Ohio. Check here for an update on the status of those efforts.

ResponsibleOhio's proposed constitutional amendment would establish a legal marijuana industry fueled solely by marijuana grown at 10 sites, which would be owned and operated by investor groups. The organization has revealed a dozen investors including basketball all-star Oscar Robertson, former...

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URL: 
http://www.cleveland.com/open/index.ssf/2015/03/36_million_raised_for_ohio_mar.html