Social-equity applicants ask CCB for time to finalize financing during public comment
March 22, 2025 | Cannabis Compliance Board (CCB), Other State Agencies, Organizations, Executive, Nevada
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CARSON CITY, Nev. — Two social-equity applicants used the Cannabis Compliance Board’s public-comment period on March 20 to request more time to meet financial requirements tied to pending applications.
Rachel Lee, president of Sunflower Compassionate Company, told the board she had secured a business bank account and was negotiating with investors but had encountered predatory offers and setbacks. ‘‘This extension is not in vain. I have made some real progress, and now I have, you know, things such as a banking business account for the company,’’ Lee said. She asked the board to grant the extension so she could complete start-up plans and community programming tied to a nonprofit she founded.
Chandler Cooks, owner of Greenwood Investment Group, spoke on behalf of a Las Vegas project called Mulan Noire and asked the board to approve an extension to complete a required $200,000 liquid-asset proof. ‘‘I’m asking for this extension not as a delay tactic, but as a necessary step to ensure that this … business is built the right way with integrity, stability, and and sustainability,’’ Cooks said.
Both applicants said they had faced predatory investor approaches that they tied to their status as social-equity applicants. Cooks said he and his team prioritized finding reputable partners rather than quick capital.
Board action
Both applicants’ matters were on the consent agenda as extension requests. The board approved the consent agenda items after the public-comment period closed, marking the requested extensions approved as part of the consent package.
Context
The CCB’s consent agenda includes procedural approvals and ministerial items; when no board member pulls an item for separate discussion, multiple consent items may be approved together. Both individuals explicitly stated they were on the consent agenda and spoke during the public-comment period with the option to reserve remarks for their agenda item.
What applicants plan next
Lee described community-oriented programming she intends to launch for foster-care and at-risk youth through a nonprofit called Safe Base, and she said she would continue to pursue funding and partnerships. Cooks said he would continue negotiations with potential investors and was prioritizing long-term stability over speed of financing.
The board recorded approval of the consent agenda extensions; applicants will return with required application materials per the timelines established in the approved extensions.
Rachel Lee, president of Sunflower Compassionate Company, told the board she had secured a business bank account and was negotiating with investors but had encountered predatory offers and setbacks. ‘‘This extension is not in vain. I have made some real progress, and now I have, you know, things such as a banking business account for the company,’’ Lee said. She asked the board to grant the extension so she could complete start-up plans and community programming tied to a nonprofit she founded.
Chandler Cooks, owner of Greenwood Investment Group, spoke on behalf of a Las Vegas project called Mulan Noire and asked the board to approve an extension to complete a required $200,000 liquid-asset proof. ‘‘I’m asking for this extension not as a delay tactic, but as a necessary step to ensure that this … business is built the right way with integrity, stability, and and sustainability,’’ Cooks said.
Both applicants said they had faced predatory investor approaches that they tied to their status as social-equity applicants. Cooks said he and his team prioritized finding reputable partners rather than quick capital.
Board action
Both applicants’ matters were on the consent agenda as extension requests. The board approved the consent agenda items after the public-comment period closed, marking the requested extensions approved as part of the consent package.
Context
The CCB’s consent agenda includes procedural approvals and ministerial items; when no board member pulls an item for separate discussion, multiple consent items may be approved together. Both individuals explicitly stated they were on the consent agenda and spoke during the public-comment period with the option to reserve remarks for their agenda item.
What applicants plan next
Lee described community-oriented programming she intends to launch for foster-care and at-risk youth through a nonprofit called Safe Base, and she said she would continue to pursue funding and partnerships. Cooks said he would continue negotiations with potential investors and was prioritizing long-term stability over speed of financing.
The board recorded approval of the consent agenda extensions; applicants will return with required application materials per the timelines established in the approved extensions.
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