Sweet Cannabis, the Las Vegas wholesaler for Vancouver, British Columbia-based Ascent Industries Corp., might face closure after allegedly violating its license in Clark County, Nevada.
The menace provides to a number of issues the corporate is dealing with after the Canadian manufacturing license of subsidiary Agrima was suspended. Agrima’s license to deal in medical marijuana additionally was suspended, each in Canada and internationally.
The potential suspension, revocation or nonrenewal of the Sweet Cannabis license surrounds claims the corporate hosted an unlawful consumption occasion, made errors in stock and recordkeeping and operates illegally due to the Canadian suspensions.
Sweet Cannabis officers will seem earlier than a listening to Feb. 28 to contest the allegations.
The firm stated the consumption occasion passed off Nov. 15, 2018, underneath the corporate’s former administration staff, which resigned every week later.
Ascent has till Feb. 20 to make any further submissions to Health Canada on the license suspensions.
Ascent laid off greater than a 3rd of its employees since its compliance troubles started.
Former firm executives are looking for to exchange the present board, and director Mark Brown introduced his resignation Feb. 15.
Ascent trades on the Canadian Securities Exchange beneath the ticker image ASNT.