NEWS BRIEF

Nevada regulators levy fine, strip marijuana company of 14 licenses

The newly installed Nevada Cannabis Compliance Board took swift action at its first meeting by penalizing vertically integrated operator CWNevada for a range of regulatory violations.

According to the Las Vegas Review-Journal, the board and CWNevada agreed to a settlement regarding an alleged 21 violations of state marijuana regulations. The penalties included:

  • A $1.25 million fine.
  • The revocation of six business permits.
  • The required sale of eight additional licenses.

CWNevada was accused of failing to pay state taxes, running afoul of the state’s MJ inventory track-and-trace program, selling untested cannabis products and employees hiding or destroying evidence and lying to regulators.

The company has operated the Canopi dispensaries in Las Vegas as well as grow operations and production facilities in other parts of Nevada.

A court-appointed receiver took over CWNevada in June to keep the company operational until its assets could be redistributed to creditors after several of its dispensaries were shuttered due to nonpayment of taxes.

In 2019, the company was ordered by an arbitration panel to pay $4.99 million for breach of contract and failure to pay for services provided.

Latest Headlines

Leave a Reply

Your email address will not be published. Required fields are marked *