Medical Cannabis

WeHo cannabis store, ‘Aeon Botanika’ sued for not paying back $1 million loan

Aeon Botanika Los Angeles LLC and Golden Phoenix Holdings LLC — the organizations behind cannabis business Aeon Botanika, which was approved to open in West Hollywood but never did — are being sued over nonpayment of a $1 million loan by Cutter Miller LLC.

Cutter Miller made the loan in March 2021 and gave the borrowers 48 months to repay. At the end of the year, an extension was granted, and the borrowers were lent an additional $305,000. Cutter Miller alleges they now owe $2 million in principal and more than $315,000 in unpaid interest and other fees, according to Green Market Report.

Aeon Botanika was attached to properties at 8448 Santa Monica Blvd. in WeHo and at 1144 S. La Brea in Los Angeles.

A page on emeraldvillageweho.com describes Aeon Botanika, then set to open in Fall 2021, as “a cannabis-inspired wellness company, curating a collection of products and spaces that help customers live happier, healthier lifestyles. Whether at our flagship store in West Hollywood, or out in the world, we are a guide to helping people seek deeper connections to themselves and others. We integrate ethically-sourced cannabis with other plant medicines, nourishing food and expertise to create personalized wellness rituals that elevate health and happiness.”

To Read The Rest Of This Article By Staff on WEHOville

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Published: October 25, 2022

The post WeHo cannabis store, ‘Aeon Botanika’ sued for not paying back $1 million loan appeared first on L.A. Cannabis News.

Content Source: https://lacannabisnews.com/weho-cannabis-store-aeon-botanika-sued-for-not-paying-back-1-million-loan/

Sally Anderson

Sally is a Masters in Business Administration by education. After completing her post-graduation, Sally jumped the journalism bandwagon as a freelance journalist. Soon after that she landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor.

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