Sometimes, you just bet on the wrong horse.
And such was the case for dozens of medical cannabis companies and their backers in Maryland this week as they learned they would not receive preliminary approval in the first round of lucrative licenses to be granted by the state. There were 146 potential growers and 124 potential processors competing for only 15 grower and 15 processor licenses, respectively.
“It’s been a tough 48 hours,” said Kevin Gibbs, chief operating officer of Palace Investment Co. and one of the partners behind Peak Harvest Health seeking to enter Maryland’s medical cannabis market.
Click here to read the rest of the article written by Tina Reed over at Washington Business Journal