State board approves ETW licensing transfer to Synergy Investments amid financial scrutiny

The Cannabis Compliance Board (CCB) meeting on May 15, 2025, highlighted significant developments in the Nevada cannabis industry, particularly the approval of multiple Transfers of Interest (TOI) applications. The most notable decision was the approval of ETW Management Group LLC's sale of its cultivation license to Synergy Investments LLC, owned by Gilbert Avila III. This transfer raised two areas of interest: an internal reorganization conducted without prior board approval and Avila's need for additional financing to operationalize the license.

During the meeting, representatives from ETW Management addressed concerns regarding the internal restructuring, clarifying that it was done for tax purposes and did not warrant further investigation. Paul Thomas, a member of ETW, emphasized the importance of notifying the CCB for any future transfers, even within the same ownership structure.

In another key discussion, TGIG LLC's application to purchase Juicy Holdings Inc.'s subsidiary, New Leaf VLV Retail Dispensary LLC, was approved despite an incomplete TOI application previously filed by TGIG. The board noted that the incomplete application did not raise concerns due to the timely submission of a new request and the vetting of the replacement owner.

The meeting also saw the approval of Altmore Debt 1 LLC's acquisition of Lighthouse Strategies Inc.'s cultivation license, which was part of a debt settlement agreement. Altmore's request for a waiver of certain regulations was granted, with the condition that it would expire at the next agenda date.

Lastly, M3 Wellness LLC's transfer of a cultivation license was approved, allowing the company to expand its operations in Mineral County, Nevada. The board expressed support for the local community's engagement and the potential economic benefits of these cannabis operations.

Overall, the CCB's decisions reflect a proactive approach to managing the evolving cannabis landscape in Nevada, ensuring compliance while fostering industry growth. The board's emphasis on transparency and communication with licensees aims to prevent future compliance issues and enhance operational integrity within the sector.