Cura Cannabis, one of Oregons largest marijuana companies, agreed to pay a record $110,000 penalty to the state.
The company paid the fine to settle charges that it falsely claimed its Select brand of vaping products contained 100% marijuana when they also contained additives.
According to the settlement, Cura Cannabis incorrectly claimed that more than 186,000 vapes were 100% cannabis, but the products also contained botanically derived terpenes and/or medium-chain triglyceride (MCT) oil as an ingredient.
With the fine out of the way, the pending sale of Cura Cannabis toMassachusetts-based multistate operatorCuraleaflikely will close Feb. 1.
In May 2019, Curaleaf agreed to acquire Cura Cannabis – aka Cura Partners – in an all-stock deal that, at the time, was valued at almost $1 billion.
In October, however,Curaleaf reduced the number of shares it was offering by 42.5%, dramatically lowering the acquisition price.
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Originally posted on OOregon marijuana firm Cura hit with record fine as sale closing nears via Cannabis Industry News
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