Two publicly traded Long Island companies have joined forces to pursue the cannabis greenhouse market.
One of companies, Power REIT, a real estate investment trust, in recent months has acquired properties in Colorado, Oklahoma, Maine and Michigan to be used in marijuana cultivation.
The other, Millennium Investment & Acquisition Co. Inc., has initiated cannabis cultivation operations at two of the Power REIT sites in Colorado and Oklahoma with plans for further expansion.
Alon Y. Kapen, a securities lawyer at Uniondale-based Farrell Fritz P.C., said the liberalization of state marijuana laws has created an opening for the companies.
“It’s probably a positive move for shareholders,” he said.
Read the full article on Newsday here:
Two LI companies see pot of gold in cannabis greenhouses – Newsday
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