viewAscent Industries Corp.

Ascent Industries says it's 'fully committed' to addressing Clark County's concerns over marijuana licence

The company also said it has accepted the resignation of Mark Brown from the company’s board of directors

nevada sign
Ascent's wholly owned subsidiary Sweet Cannabis is a cannabis wholesaler with operations in Oregon and Nevada

Ascent Industries Corp (CSE:ASNT) said it is fully committed to addressing concerns raised after its wholly owned subsidiary, Sweet Cannabis (SC), received notice from Clark County's department of business licence that its master marijuana licence may be suspended or not renewed.

“SC has been advised that it must appear before a hearing officer on February 28, 2019 to show cause why the license shall not be permanently suspended, revoked or non-renewed,” said Ascent Industries in a statement. "Ascent is fully committed to addressing the department's concerns, and will appear and provide appropriate information to the department at the February 28, 2019 hearing."

READ: Ascent Industries says it’s committed to ‘constructive dialogue’ with shareholders

The department noted three specific violations: a cannabis consumption event in the H-1 zone resort corridor in Las Vegas, record keeping and inventory errors and parent company license suspension by Health Canada.

Sweet Cannabis has a right of appeal has a right of appeal of such a decision and may also file a petition for a judicial review conducted by the District Court. 

The company said the consumption event appears to have taken place on November 15, 2018, under the former management team of Ascent, who resigned on November 21, 2018.

A company representative declined to provide further comment.

Separately, Ascent announced the resignation of Mark Brown from the board of directors effective immediately. The company did not provide any further details.

Shares of Ascent slipped C$0.03 to C$0.13 in Monday’s Canadian trading.

Contact Katie Lewis at [email protected]

Quick facts: Ascent Industries Corp.

Price: - CAD

Market: CSE
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ascent Industries Corp. named herein, including the promotion by the Company of Ascent Industries Corp. in any Content on the Site, the Company...



Ascent Industries has a plan to be a major player in the Hemp market

Ascent Industries (CSE:ASNT) COO Reid Parr joined Steve Darling from Proactive Investors in the Vancouver Studio to talk about Ascent's strategy for capturing a big piece of the large world wide Hemp market. Reid talked about partnering with AgTech out of Kentucky and how that partnership...

on 13/11/18

2 min read