CSE:WIB - Post Discussion
Post by
KozmoT on May 14, 2021 6:18pm
LOL, looks like Matica is already in legal hot water
couldn't happen to a nicer crew! Love how they tried to sneak into the bottom of an unrelated NR, on a Friday afternoon.
... "
As per Matica press release dated November 16, 2020, Matica increased its position in its subsidiary, RoyalMax Biotechnology Canada Inc. DBA West Island Culture ("RoyalMax"), from 70% to 99.97%. In March 2021, the Company was served with a nuisance lawsuit by 9076484 CANADA INC., seeking principally an order declaring that it is a 14.5% owner of RoyalMax Biotechnology Canada Inc. The Company believes the claim is frivolous and without merit. The Company will aggressively defend itself and seek all available remedies under the law. Further, the Company was served a 2nd nuisance lawsuit by Cannatechnologie Inc. The Plaintiff is seeking payment of $200,000 which Matica acknowledges are owed, but, owed to parties other than Cannatechnologie Inc. Also, Cannatechnologie Inc. is seeking an order overturning RoyalMax' issuance of shares to Matica as per the aforementioned press release of November 16, 2020. The Company believes each of these 2 lawsuits is without merit and were commenced in order to seek a payment via a settlement. The Company will aggressively defend itself, and seek all available remedies under the law."
Be the first to comment on this post