Thriving Cannabis Businesses in New Mexico's Not-for-Profit Industry

Chris Romero, Willie Ford, Tim McGivern and Jacob White of Reynold Greenleaf & Associates
Chris Romero, Willie Ford, Tim McGivern and Jacob White of Reynold Greenleaf & Associates

New Mexico’s medical cannabis industry requires that license holders operate as not-for-profit entities, but that doesn’t mean some companies aren’t making profits.  The Albuquerque Journal does a great job of discussing how it works and sharing the stories of two leading companies, Reynold Greenleaf & Associates and Ultra Health.

The New Mexico Department of Health has issued 35 licenses to grow and sell medical cannabis, all to licensed nonprofit producers (LNPPs), but many of them hire third parties to manage their cultivation and dispensary operations.  The rules may change, as Cannabis Producers of New Mexico, which represents almost half of the LNPPs, has filed a suit against the Department of Health to eliminate the rule requiring them to be nonprofits.

Reynold Greenleaf & Associates has three different LNPP clients. Ultra Health, based in Arizona, operates a cultivation facility that produces 1200 pounds per year and four dispensaries on behalf of Top Organics.  The company will soon open a cultivation facility and dispensary in Las Vegas, Nevada.

Read Olivier Uyttebrouck’s “Budding operation: NM’s nonprofit medical marijuana takes ‘big business’ turn”:

Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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