Cannabis MSO PharmaCann Closing Colorado & Pennsylvania Cultivation Sites
- PharmaCann Inc. is closing its large cannabis cultivation facility in Denver, Colorado, and a cultivation and manufacturing site in Allegheny County, Pennsylvania.
- The closures and layoffs are set to take effect on May 20, as notified to state officials on March 20.
- The Denver closure will result in furloughing 162 employees, while the Pennsylvania site will lose 60 jobs.
- PharmaCann is reportedly exiting the Colorado market after selling its LivWell retail brand and associated assets to Vireo Health for approximately $49 million last December.
Chicago-based multistate operator PharmaCann Inc. recently disclosed it is shuttering its cannabis cultivation operations in Denver, Colorado, one of the state’s largest licensed grow sites, and is also closing down a cultivation and manufacturing facility in Allegheny County, Pennsylvania.
The company announced the closures to state officials on March 20, as required under federal law, and said the closures and subsequent layoffs would take effect on May 20.
“The entire facility will close on May 20,” the company’s chief manufacturing officer, Nathan Fete, wrote in a March 20 notice to the Colorado Department of Labor and Employment.
“The action is expected to be permanent. The employee separations because of this action will occur on May 20.” — Fete, in the letter, via the Denver Post
The company is also furloughing 162 employees from the Denver site, while there will be 60 jobs lost from the Pennsylvania facility, located in Scott Township, PennLive reports.
Meanwhile, PharmaCann appears to be exiting the Colorado marketplace after announcing last December the sale of its LivWell retail brand, including leases, licenses, inventory, contracts, and intellectual property, for about $49 million to another cannabis MSO, Vireo Health.