By The Canadian Press

Medical marijuana equipment auction reveals risky business for pot entrepreneurs

May 31, 2016 | 3:02 PM

RICHMOND, B.C. — If you’re in the market for 350 marijuana grow lights, 50 air ventilators or two dozen giant fans, then you’re in luck.

All the equipment in defunct medical cannabis producer MediJean’s former 20,000 square-foot facility in Richmond, B.C., will be auctioned off on Thursday.

Observers say the company’s closure draws attention to the costly risks involved in launching a pot-production business in Canada.

MediJean’s former chief operating officer Chris Dollard says he left the company before its shutdown but he believes its application to be a licensed producer was rejected by Health Canada.

He says companies have to invest millions to establish operational facilities before Health Canada can approve their applications, and the process takes years.

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Able Auctions president Jeremy Dodd says the building was sold with its contents and the new owners are auctioning off all the equipment, worth more than $1 million.

The Canadian Press