Consolidating and cashing in on medical marijuana
Marijuana legalization is likely far off in New Mexico, but you wouldn’t know it from the way some businesses are acting.
Recent news of a Canadian company’s encroachment into Santa Fe spawned backlash from those critical of an out-of-state, out-of-country company attempting to get a piece of New Mexicos’ medical marijuana industry.
Last month, Toronto-based Nutritional High announced that it would be acquiring 51 percent of shares from and assuming management operations of Sacred Garden, a Santa Fe nonprofit medical marijuana producer that’s been operating for nearly five years.
The plan drew immediate backlash from patient advocates and others in the industry.
“We don’t need the money that comes in the program going out of state, yet alone out of the country,” Tim Scott, president of New Mexico Cannabis Patients Alliance, told New Mexico Political Report.
The criticism even may have put speed bumps in front of the deal.
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