Canadian agriculture company Maple Leaf Green World has agreed to purchase a Nevada cultivation permit from BioNeva Innovations of Henderson LLC for $500,000, according to a press release from Maple Leaf.
The deal will see a 33,500-square-foot facility located in Henderson, 16 miles from Las Vegas, be transferred to the Canadian firm, who will work with Bill Monroe, a primary member of BioNeva, on transferring the property and helping the company adapt to the new regulations in the state.
“We are thrilled to be able to purchase this cultivation permit so close to Las Vegas at a reasonable price, and we are especially pleased to have the opportunity to engage the services of Bill Monroe to assist us with the development of our operations in Nevada,” Raymond Lai, President & CEO of Maple Leaf said in the report.
The deal would have been reduced by half if Nevada voters had failed to legalized adult-use cannabis in the state.
Maple Leaf does not currently hold a license to produce medical cannabis in its home nation; however, it is working with Woodmere Nursery Ltd to lease a greenhouse for medical cannabis production, the release says.
The companies expect the agreement to be finalized by Dec. 7.