Harvest Health Dismisses Lawsuit Against Falcon International

Harvest Health and Recreation (CSE: HARV) has dismissed its previously announced lawsuit against that of Falcon International, a recently filed Form 7 with the Canadian Securities Exchange has shown. The lawsuit was in relation to allegations that Falcon had failed to provide auditable financial statements, and that multiple legal obligations have failed to be met.

The lawsuit was originally announced to the market on January 7, with Harvest making a number of allegations against potential acquiree Falcon International. Claims against Falcon were numerous, and included allegations of illegally bringing cannabis product across state lines which is a federal offence.

A subsequent news release issued by Falcon International highlights that the firm was certain they would win the lawsuit, but was short on details. Falcon was also certain that they would be privy to a $50 million break free as described within the contract. This however omitted the fact that as a result of the lawsuit, Harvest Health was looking to terminate and rescind the prior entered merger agreement.

Whatever the case may be, in a Form 7 filed this morning by that of Harvest Health with its listing exchange, the company identified that it had dismissed the Falcon lawsuit, and instead the parties had agreed to send the dispute to the American Arbitration Association as of February 26, 2020.

No further details were provided by the company on the matter.

Harvest Health last traded at $2.75 on the CSE.


Information for this briefing was found via Sedar, Falcon International and Harvest Health and Recreation. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Trulieve: Canaccord Retains $97 Price Target Following Harvest Health Transaction

On October 1, Trulieve Cannabis (CSE: TRUL) announced that they completed their $1.75 billion acquisition...

Sunday, October 10, 2021, 01:03:00 PM

MSO Hiring Through A Year of COVID-19 – Trulieve Leads The Way

The outbreak of COVID-19 threw a wrench into the plans of many companies who were...

Wednesday, March 17, 2021, 11:43:00 AM

Haywood Reiterates $80 Price Target On Trulieve After Harvest Health Purchase

On October 1st, Trulieve Cannabis (CSE: TRUL) announced that they completed their $1.75 billion acquisition...

Monday, October 11, 2021, 04:43:00 PM

Harvest Health Director, President Resign – Is Linton On The Way In?

Harvest Health & Recreation (CSE: HARV) announced late Friday night the resignation of two key...

Saturday, September 21, 2019, 07:00:14 AM

US Cannabis, Momentum, With Lots of Hurdles

The US Cannabis market has been a confusing ride for investors to comprehend. We have...

Thursday, September 12, 2019, 04:09:33 PM