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Green Peak Innovations Snags 12 Michigan Medical Marijuana Cultivation Licenses

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Green Peak Innovations Snags 12 Michigan Medical Marijuana Cultivation Licenses

Michigan-based Green Peak Innovations announced it was awarded 12 licenses for medical marijuana cultivation. The decision by the State of Michigan Medical Marihuana Licensing Board puts the company on track to become one of the largest cannabis growers in the state.

What Happened

Green Peak Innovations said in a press release that it prequalified for 12 Class C cultivation licenses, one processor license and 19 provisioning licenses in July.

In October, the first two Class C cultivation licenses were approved and are already being utilized in production at the company's Lansing facility, according to Green Peak. On Monday, the licensing board voted unanimously to issue the other 10 Class C licenses.

Why It's Important

The 10 licenses approved Monday will be used for cannabis cultivation at the company's 25-acre headquarter facility in Harvest Park. 

"We are very excited to reach the final approval of our headquarters facility and become one of Michigan’s largest medical cannabis operators. It has been a long process with a lot of hard work. We appreciate the responsibility granted to us by the state of Michigan and are eager to bring high-quality medicinal cannabis to patients in 2019," CEO Jeff Radway said in a statement. 

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What's Next

Aside from cultivation facilities, Green Peak Innovations owns several properties that it plans to turn into provisioning centers in 2019 and is acquiring more properties in Michigan to take advantage of its 19 provisioning center licenses.

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Posted-In: Green Peak Innovations medical cannabis medical marijuana potCannabis Government Regulations Markets Best of Benzinga

 

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