Medical Marijuana Grower Surrendered One Of Three Pot Licenses

The state required a $200,000 fee and a $2 million bond or escrow account for each permit. The warehouses where the plant is grown must be operating within six months or the licensees may forfeit the bond to the state. Green Thumb Industries LLC (GTI) also plan cultivation centers in Rock Island and LaSalle counties.

Thompson said GTI officials told him they preferred not to pay for all three permits partly because of a small Illinois market; there are only about 1,000 confirmed patients so far. A lot of investors are thinking, do we want to put this much money into it if the market isn’t there?, Thompson said.

To read more, visit http://www.washingtontimes.com/news/2015/feb/27/medical-marijuana-grower-gives-up-1-of-3-illinois-/?utm_source=RSS_Feed&utm_medium=RSS

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