Mint Cannabis License Transferred In MA For $1 Million Fee
Mint Cannabis sold its license to Clover Partners, LLC, for $1 million
The cannabis retailer that planned to open on Pleasant Street has transferred its license to another retailer, according to Town Administrator Patrice Garvin.
Mint Cannabis, LLC, which had signed two different host community agreements with Belmont, sold its license to a group called Clover Partners, LLC, for $1 million, a transaction allowed under state statute, Garvin said.
“I was also told that this seemed to be on the low side of other transfers happening in this industry,” she said. “The Cannabis Control [Commission] gets multiple transfers.”
The board recently voted to require the new retailer to negotiate a new community host agreement.
“I think it’s also good to have a chat with new business owners in the community and make sure it works well for everybody,” said Select Board Chair Matt Taylor.
Select Board member Carol Berberian agreed.
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