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
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