Announcements

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:

5/18/2018 CAN (BC): Affinor signs agreement with MJ producer license applicant
5/17/2018 CAN (ON): Enniskillen MMJ facility officially opens
5/16/2018 CAN (MB): 120,000 sq. ft. cannabis cultivation operation comes to Winnipeg
5/15/2018 Aurora Cannabis buys MedReleaf for C$3.2 billion
5/15/2018 CAN (QC): 1.5 million sq.ft. Weedon project breaks ground
5/11/2018 "Staffing and managing labor major challenge in cannabis cultivation"
5/10/2018 Record numbers would-be investors for NZ MMJ company
5/10/2018 BC: another 20,000 sq ft MMJ greenhouse planned
5/8/2018 Zimbabwe legalizes cannabis cultivation
5/7/2018 US (CA): Smart Cannabis launches new subsidiary
5/4/2018 Cannabis cultivation begins at High Park Farms
5/3/2018 Police drone spots 15,000 cannabis plants growing on Italian tomato farm
5/3/2018 Australia: The Hydroponics Company acquires botanicals extraction facility
5/3/2018 US (AZ): New owners of Sunizona Greenhouses to cultivate MMJ
5/2/2018 CAN (NB): Zenabis receives cannabis plant sales license
5/1/2018 Scotts Miracle-Gro moves further into marijuana with $450 million deal
4/30/2018 Construction begins on Colombian cannabis cultivation greenhouse
4/27/2018 "Cannabis cultivation will be a race to the bottom"
4/27/2018 Australia: Canopy establishes Asia-Pacific headquarters in Victoria
4/26/2018 Malta: Growers asked to sell land for cannabis cultivation