Only three weeks after saying it was “undergoing a deep analysis” of the arrangement, Phoenix-based marijuana operator Tilt Holdings on Monday announced that it was selling its interest in a cannabis partnership with the Shinnecock Nation.
To leave the partnership involving the Little Beach Harvest dispensary in New York, Tilt sold all its interests in Standard Farms NY to CGSF Investments for $1.4 million, according to a news release.
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Standard Farms NY holds a 75% interest in CGSF Group, which was formed in 2021 to establish vertical cannabis operations on the Shinnecock Nation aboriginal tribal territory in the Hamptons on Long Island.
CGSF Investments, a wholly owned subsidiary of PowerFund Partners, is the parent of CGSF Group.
Conor Green Consulting, a cannabis project development firm, will continue to hold a minority interest in CGSF Group.
Tilt said in August it was pausing its joint venture
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