"The event was not coming together in the way that it was envisioned."
Originally announced in June, the event was due to take place in the Riviera Maya on the Yucatán Peninsula in late January 2017. Aside from the band themselves, DJ Harvey, The Black Madonna, Juan Maclean and Carl Craig were among those booked.
In a statement posted on the festival's website, organizers said that "The event was not coming together in the way that it was envisioned," and "all parties have agreed that putting on an event that is less than 100% would be a disservice to the fans and bands alike." Fans who purchased ticket packages will get a full refund, including for airfare.