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Marijuana producer already looking to sell business

Marijuana producer already looking to sell business

SPOKANE VALLEY, Wash. - Marijuana producers are getting ready to ship their first crop to retail stores, the target date for opening just a week away, but one business owner is hoping to sell more than just marijuana. He already wants to put his business up for sale.

Sean Green of Kouchlock Productions has a tier three producer/processor license which means he can grow 21,000 square feet of marijuana canopy. He's already had an offer to buy his business that's in the millions of dollars.

"I'm looking to move on to the next step the next level of our industry," said Green.

Green was one of the first business owners to get a producer license, now he's getting ready for another first in the growing industry, selling his business.

"Not looking to sell it to the highest bidder necessarily, more looking for the most qualified operator. I've got my blood, sweat and tears into this, really excited to see what happens as it moves forward," said Green.

The liquor control board said Green can't sell his license but he can sell his business with the potential new owner assuming that licenses after undergoing a background check with the liquor control board.

"We did field a $2 million offer earlier today. It is on the lower end, we'll see where that goes," said Green.

In the meantime Green says he's ready to supply retails stores with product when they open sometime next week.

Out at his facility in Spokane Valley Green has plants in production, with strains ranging from UW Purple, Pineapple Express and Dutch Treat.

"We've nine strains available in this first round. Total of 62 different strains that are in our rotation and about another 150 strains that we have seeds to work with," said Green.

Green may have to operate that business for quite some time before handing the reins to a new license holder. The state says they'll only start processing those types of transactions after they're done processing current producer processor applications.

There are close to 3,000 applications waiting for the Liquor Control Board's approval and as of last Wednesday only 79 producer processor licenses have been issued.