A marijuana industry executive testified Monday that his company is losing up to $1.5 million per month because of a cannabis license injunction hearing that could go into August.
“As I sit here today, I’m losing $1.5 million or more per month on a mothballed facility,” said Bob Groesbeck, co-CEO of Planet 13 Holdings Inc. and the former mayor of Henderson. “Those are very real damages. Those have a very real impact to my bottom line.”
Planet 13’s parent company, MM Development Co. Inc., is one of a number of dispensary companies that combined to file an injunction earlier this year against Nevada over its handling of a competitive retail cannabis license application process.