Out $1,000,000 for Halted Super Bowl Party, Cannabis Entrepreneur to Sue Los Angeles

BigMike Super Bowl

One of the cannabis industry’s most successful entrepreneurs, Mike “BigMike” Straumietis, the founder and CEO of Advanced Nutrients, was planning a huge Super Bowl party, but, facing pressure from Los Angeles and several agencies, he cancelled it on Saturday after having invested over $1mm. BigMike, visibly upset during a press conference to discuss the events, blamed the stop-work order, which he called nothing new, on discrimination due to his involvement in the cannabis industry.

Straumietis, upon review by his CFO and legal team, will commence the “Super Bowl Lawsuit” and take action against the city and its officials. BigMike has responded to the actions by creating the Cannabis Freedom Fund, which he has funded with $100K, and he will be donating any recoveries from his lawsuit to it as well. Listen to the 11 minute press conference:

H/T: Complex

Breaking news by Alan Brochstein, CFA

ab-byline-ncvBased in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV.

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