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At least four other marijuana companies are currently under the direction of a court-ordered receiver, according to data obtained by Crain's from the Michigan Cannabis Regulatory Agency.
TerrAscend said it effectively overpaid for both Gage and Pinnacle as value in the Michigan market plummeted due to product oversupply and increased competition.
TerrAscend said it effectively overpaid for both Gage and Pinnacle as value in the Michigan market plummeted due to product oversupply and increased competition.
SunStream Bancorp said in a press release Monday it would pay existing employees and "certain" management while the receiver worked to stabilize finances or prepare the business for a sale.