Item 8.01. Other Events -
Update Regarding Marengo Township, Michigan Greenhouse Cultivation Facility
As previously announced, cannabis licensing at the Marengo Township greenhouse
cultivation facility has been delayed based on a dispute with Marengo Township
Building Official ("BO"). The BO has taken the position that changing the plant
grown in the greenhouse to cannabis would require building permits and a
Certificate of Occupancy for the existing structure which previously did not
require any. On
- The existing greenhouse portion of the facility was granted the following variances: ? A variance from the Energy Code requirements ? A variance from fire suppression consistent with the conclusion of theMichigan Bureau of Fire Services ? A variance related to egress requirements consistent with the conclusion of theMichigan Bureau of Fire Services - Building permits may be required for modifications to the structure but not for the pre-existing structure itself
Based on the outcome of the CBA hearing, the project is now positioned to move forward with securing state and local cannabis licensing. We are working on a strategy related to seeking the required permits for some work that has been completed or is in process after which we would expect to receive a Certificate of Occupancy. We are also working on a strategy related to the overall path forward related to this project. There can be no assurance as to how long this process will take.
Update Regarding Portfolio
As previously disclosed, the wholesale prices for Cannabis in
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit Description of Exhibit 10.1 Marengo Township ConstructionBoard of Appeals Resolution Granting Variance 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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