Some pretty scary news out of the Cannabis world, where CW Nevada aka Canopi Dispensaries has seemingly gone completely out of business, with their websites and stores being shut down.
The tip, according to Las Vegas Review Journal writer, Todd Prince, who has seemingly been in a one-side battled with the owners for a year, means some pretty bad news for debtors who already say they are owed millions.
“CW Nevada is imploding and if this court doesn’t do something immediately, creditors will be left with nothing and CWNevada will go up in smoke,” CIMA, maker of Wana-branded edibles, said in emergency application on Saturday seeking a receiver for the company.
While the stores were supposed to be shut down for back taxes, one of them on blue diamond stayed open, and was doing business on Tuesday and the manager told us that a “text message” would go out explaining the situation from their site, and when they would re-open.
The back taxes? Sales Tax: Which in theory is theft, since they collect for the state and are required to turn it over. This is a serious issue, and if they think they can “change names” to start over, they will find the State of Nevada may not be okay with that.
They were already in trouble February ,when 4Front Advisors, part of the Arizona-based multistate marijuana firm 4Front Holdings, won an $8.7 million arbitration award against Nevada-based CWNevada and NuVeda for breach of contract in failing to pay fees for services provided.
