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Cannabis company executives point finger at founders over alleged missing $14 million

Green Relief co-founders ‘vehemently deny’ allegations levelled in video, court documents.

A licensed cannabis producer facing significant financial issues is alleging the company’s own founders misappropriated approximately $14 million from its coffers, leaving hundreds of shareholders with little to show for their investments.

A video obtained by the Financial Post of a private shareholders’ meeting on Jan. 14 shows executives of Green Relief Inc. detailing a series of transactions they allege were executed by two of the company’s co-founders — Warren and Lyn Bravo — resulting in millions being siphoned out of Green Relief for personal use over a period of six years.

The Bravos have denied all allegations made by Green Relief executives against them.

The Hamilton, Ont.-based private medical cannabis company, which touts itself as the world’s only cannabis company that uses aquaponics to grow medical marijuana, has been struggling to stay afloat since March 2019, a month after Warren Bravo stepped down from his position as chief executive.

By: VANMALA SUBRAMANIAM Canada.com
Read More Here: o.canada.com/cannabis/cannabis-company-executives-point-finger-at-co-founders-over-missing-funds/wcm/08b02f62-2b10-4c66-b8be-f37c836058fe

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