Medical Marijuana Equipment Auction Shows Pot Can Be a Risky Business
In the market for 350 marijuana grow lights, 50 air ventilators or two dozen giant fans? You're in luck.
More than $1 million worth of equipment inside a defunct medical cannabis producer's former 6,100 square-metre facility in Richmond, B.C., will be auctioned off on Thursday.
MediJean's closure draws attention to the costly risks of launching a pot-production business, observers say.
Former chief operating officer Chris Dollard said he left the company before it closed, but he believes Health Canada rejected its application to be a licensed producer.
"We were waiting, waiting, waiting. That's what Health Canada does. They keep you waiting until you run out of money," he said. "It's pretty clear that if they had been accepted, they'd be in business."
Dollard said companies have to hire staff, buy equipment and establish operational facilities before Health Canada can approve their applications, a process that takes years. He would not...
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