Colorado’s largest cannabis grower has suffered a huge financial loss due to an early freeze.
Pueblo-based Los Sueños Farms, the biggest marijuana farm in the state, has disclosed it lost millions of dollars during an early winter storm after half the company’s plants froze before harvest could be completed.
With 36 acres in outdoor production, plus an indoor cultivation operation, Los Sueños says it is the largest cannabis farm in North America.
“It was going to be a huge, bumper year,” Los Sueños founder Bob DeGabrielle said. “Unfortunately, you can’t do anything about Mother Nature.”
“This is definitely going to affect the entire state’s supply,” said Joshua Haupt, chief revenue officer with Denver-based Medicine Man Technologies.
Medicine Man Technologies is in the process of buying Los Sueños Farms for $11.9 million.