Operator set to open dispensary in ‘weeks’

August 5th, 2011 by admin Leave a reply »

Posted: August 5
Updated: Today at 11:14 PM

Operator set to open dispensary in ‘weeks’

Northeast Patients Group signs a financing deal that will enable it to open a facility in Thomaston soon.

By MICHAEL SHEPHERD Kennebec Journal

AUGUSTA – Maine’s largest licensed operator of medical marijuana dispensaries has signed a deal for new financing that it says will enable it to open its first dispensary in “a couple weeks.”

Wellness and Pain Management Connection LLC will lend Northeast Patients Group $1.6 million over eight years at 8.5 percent annual interest, according to documents provided to the Kennebec Journal by the Maine Department of Health and Human Services.

A database search for Wellness and Pain Management Connection LLC showed that the company was formed in Delaware on Wednesday, the day the agreement with Northeast was finalized.

The collective is composed of The Farmacy, based in West Hollywood, Calif., and Cuttino Mobley, a former NBA and Maine Central Institute basketball player, according to state documents.

JoAnna LaForce is the owner and co-founder of The Farmacy, which operates a chain of marijuana dispensaries in California.

According to the term sheet released Thursday, LaForce will “oversee and support delivery of certain consulting and related services.”

Northeast’s Executive Director Rebecca DeKeuster said Thursday that The

Article source: http://www.pressherald.com/news/Operator-set-to-open-dispensary-in-weeks_2011-08-05.html

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