US (MI): TheraCann cancels plans for marijuana facility

A Canadian company that wanted to build a $20 million medical marijuana facility in Kingsley has changed its plans. TheraCann says it still wants to do business in Michigan - just not in Kingsley.

Last month, the village council approved new rules that would allow TheraCann to go forward with its plans. But now those plans are canceled.

“We had to make a business decision," says Richard Goodman, TheraCann's president of U.S. operations. "At this point in time, it’s just not going to be Kingsley, unfortunately.”

Goodman says Kingsley just took too long to make a decision.

He says the company has “scaled back” its $20 million facility, and instead of acting as a sort of landlord for local marijuana growers, TheraCann now wants to do all the growing itself.

Read more at Interlochen (Aaron Selbig)

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