Denver Company Backs Southern Illinois Marijuana Grower
ANNA, Ill. (AP) - A medical marijuana business in far southern Illinois intends to start construction this month of a 27,000-square-foot facility that would produce a first harvest in late fall.
Wellness Group Pharms' Managing Partner Paul Montes of Elmhurst says backing from a Denver cannabis consulting company has been crucial to his operation near Anna, Illinois. Wellness Group Pharms is one of 18 companies awarded permits to grow marijuana in Illinois.
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AmeriCann of Denver will own the facility and get 25 percent of cannabis sales, plus a 20 percent royalty from the sale of cannabis extractions and infused products. AmeriCann also will get an annual consulting fee of $240,000 and $6 per square foot lease payments.
AmeriCann CEO Tim Keogh says his company was a partner before the company submitted its application.
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