Skymint had sunk millions into the former Summit Sports and Ice Complex to turn the 200,000-square-foot facility into a huge cannabis cultivation and processing operation. As has been the case with Skymint lately, things didn't go as planned.

Had they, Skymint would have doubled its weed production capabilities.

But…Skymint never completed the build-out and ended up surrendering the facility and 21 acres near Lansing back to the developers, Innovative Industrial Properties Inc. (NYSE: IIPR), which happens to be the country's largest cannabis property developer as well as the first and only to trade on the NYSE.

What Now?

Green Peak Industries, doing business as Skymint, is now under the control of a court-ordered receiver for owing more than $130 million to investors for …

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