By Associated Press - Saturday, June 28, 2014

CAMBRIDGE, Mass. (AP) - The head of a company seeking to set up a medical marijuana dispensary in Cambridge says he plans to appeal the decision by the Department of Public Health to overturn its earlier agreement to license his firm.

John Greene is the CEO of The Greeneway Wellness Foundation that was among 20 applicants who received provisional licenses in January. The process was eventually suspended while the state verified information provided by the approved applicants.

Greene said on Saturday that state public health officials cited inadequate financial capital in rejecting his application Friday.

Greene argues that banks refused to work with his group out of fear of violating federal drug laws, forcing his organization to enter into custodial arrangements in keeping with state regulations.

Greene says his group has had the required funds available and will appeal the rejection.

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