Two LI Companies See Pot of Gold in Cannabis Greenhouses

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