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CCB approves several transfers and a security interest; board flags $920,000 tax issue in Sunday Co acquisition
Summary
The board approved ownership transfers for Anacol and Taproot, authorized a Taproot security interest, and approved Indoor Garden Farms' license transfer to Sunday Co while noting co-owner Matt Price's outstanding Oregon/federal tax liabilities (about $920,000) and attaching a status‑check requirement.
At its Sept. 18 meeting the Cannabis Compliance Board approved multiple transfer‑of‑interest requests and a proposed security interest while discussing tax compliance concerns raised during one acquisition.
Anacol LLC: The board approved TOI #25003 allowing owner Bernard Garth to transfer 20% ownership to Erica Gilliland (his wife). Staff reported no investigative concerns.
Indoor Garden Farms: The board approved TOI #2500008 for Indoor Garden Farms LLC to transfer Carson City cultivation and production licenses to Sunday Co LLC, which has been operating the facility under a management services agreement. Staff reported an area of concern: co‑owner Matt Price has outstanding personal and state tax liabilities related to Oregon operations totaling roughly $920,000. Price and counsel said payment plans and remediation efforts are underway; the board discussed suitability and required a staff status check in approximately one year to confirm tax remediation and compliance. Counsel and a third‑party compliance vendor (Voracious Compliance Solutions) described active compliance supports in place.
Taproot Holdings: The board approved Taproot's requested internal restructuring to add two members (Nathan Jerger and Teresa Nakatani) and granted a limited waiver under NCCR 5.11 for transfers under 5% that will expire at Taproot's next TOI agenda date. The board also approved a proposed security interest in Taproot Holdings NV LLC held by ROK Real Estate LLC (Kane Nicole Assarge) tied to a conditional convertible promissory note; staff characterized that as a secured debt instrument, with conversion an option subject to future board review under ownership limits.
Board members emphasized the difference between business‑entity compliance and personal tax liabilities and asked for follow‑up reporting and status checks where remediation is ongoing.
