Job offersmore »

Tweeting Growers

Top 5 - yesterday

  • No news has been published yesterday.

Top 5 - last week

Top 5 - last month

Exchange ratesmore »

US (CO): Cannabis greenhouse developer hit with $2M collections suit

A Denver firm that built a massive greenhouse to grow cannabis has not paid back millions in loans, according to a recently filed lawsuit, BusinessDen reports.

GrowCo, which was founded in 2014 to develop industrial greenhouses near Pueblo and lists an office at 2000 S. Colorado Blvd., was sued by Blue & Green LLC for defaulting on $2.1 million in loans.

Blue & Green sent written notice on the default to GrowCo on Nov. 16, according to the lawsuit.

“Despite such written demand, GrowCo has failed to cure its defaults under the notes, and has failed to make the payments due,” the suit says.

The Denver Post reported in 2015 that GrowCo was building on two 40-acre sites in Avondale, Colorado. Each site would have a 91,000-square-foot greenhouse and 15,000-square-foot warehouse and processing facility. According to the Post, GrowCo paid around $45 per square foot to build the space, and planned to lease the greenhouse to Suncanna for $20 per square foot on a triple net basis.

Read more at BusinessDen (Kailyn Lamb)

Publication date: 1/29/2018



Other news in this sector:

8/17/2018 International beverage company invests 4 billion USD in Canopy
8/16/2018 CAN (ON): Toronto-based MMJ producer to take over Leamington grower
8/16/2018 US (CA): 23,000 sq.ft. MMJ greenhouse installation begins in Yolo County
8/14/2018 Denmark: Mother plants shipped to 100,000 sq.ft. MMJ greenhouse
8/10/2018 CAN (AB): Invictus secures financing to fund 180,000 sq. ft. expansion
8/10/2018 US (CA): Air recirculation system to combat cannabis cultivation odors
8/7/2018 US (NY): Construction started on 39,500 sq. ft. MMJ facility
8/7/2018 Aphria completes largest export shipment to date to Medlab Australia
8/6/2018 CAN (BC): Massive open-field operation to compete with greenhouses
8/6/2018 CAN (BC): Pure Sunfarms gets sales license for 1.1 million sq.ft. greenhouse
7/20/2018 Lebanon preparing to legalize medical marijuana
7/19/2018 Canada: Bert Mucci also goes into the cannabis business
7/18/2018 US (WA): Production starts at 35,000 sq.ft. cannabis greenhouse
7/17/2018 5 tech systems anyone with a cannabis greenhouse should be using
7/16/2018 CAN (ON): Hamilton council blocks 123,000 sq.ft. cannabis greenhouse
7/16/2018 CAN (BC): Local governments can regulate MJ growth on agricultural land
7/13/2018 CAN (ON): Councillors consider MJ greenhouse proposal again
7/11/2018 Canada: Aphria's strategy for legalization of recreational marijuana
7/10/2018 Israeli MMJ grower to shift to EU amid red tape
7/10/2018 CAN (QC): Sherbrooke College to provide cannabis production training