Ascent’s Sweet Cannabis might shed Nevada license



Sweet Cannabis, the Las Vegas wholesaler for Vancouver, British Columbia-primarily based Ascent Industries Corp., might face closure immediately after allegedly violating its license in Clark County, Nevada.

The threat adds to many troubles the organization is facing immediately after the Canadian production license of subsidiary Agrima was suspended. Agrima’s license to deal in healthcare marijuana also was suspended, each in Canada and internationally.

The possible suspension, revocation or nonrenewal of the Sweet Cannabis license surrounds claims the organization hosted an illegal consumption occasion, produced errors in inventory and recordkeeping and operates illegally due to the fact of the Canadian suspensions.

Sweet Cannabis officials will seem ahead of a hearing Feb. 28 to contest the allegations.

The organization stated the consumption occasion took spot Nov. 15, 2018, beneath the company’s former management group, which resigned a week later.

Ascent has till Feb. 20 to make any added submissions to Well being Canada on the license suspensions.

Ascent laid off additional than a third of its staff since its compliance troubles started.

Former organization executives are looking for to replace the existing board, and director Mark Brown announced his resignation Feb. 15.

Ascent trades on the Canadian Securities Exchange beneath the ticker symbol ASNT.



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