Bloomberg report…
MediPharm Labs Corp. is suing Quebec-based Hexo Corp. after alleging the pot producer failed to pay for millions of dollars worth of cannabis oil over a supply deal signed last year, the marijuana extraction company said in a court filing.
MediPharm issueda press release on Fridaystating its wholly-owned subsidiary filed a lawsuit against an unnamed cannabis producer for $9.8 million in an outstanding payment related to a supply deal announced in 2018.
According to court documents obtained by BNN Bloomberg, MediPharm filed a lawsuit against Hexo in the Ontario Superior Court of Justices London office on Friday for the $9.8 million outstanding. The lawsuit alleges that no payments have been made on behalf of Hexo to MediPharm since October.
The supply deal was first signed between MediPharm and Newstrike Brands Inc.s UP Cannabis brand in Feb. 2018. Hexo acquired Newstrike in an all-stock deal worth about $260 million last March.
Isabelle Robillard, vice president of communications at Hexo, confirmed that the dispute between the two companies involves a contract signed by Newstrike before Hexo acquired the firm, and intends to vigorously defend the claim.
Read full Bloomberg report: https://www.bnnbloomberg.ca/medipharm-sues-hexo-after-claiming-breach-of-contract-for-9-8m-in-unpaid-bills-1.1380458
PRESS RELEASE
Pure CBD Hemp Oil
- Pure CBD Tincture, derived from organic, US-harvested hemp, lab-tested for quality.
- Clinically proven therapeutic effects.
- Relieves anxiety and stress
- Eliminates chronic pain and aches
- Regulates mood and sleep patterns
- Enhances focus and clarity
more details, George Scorsis Liberty Health Sciences
Originally posted on MediPharm sues Hexo claiming breach for $9.8M in unpaid bills via Cannabis Industry News
No comments:
Post a Comment