Cannavest Files Lawsuit Against Aurora Cannabis Inc.
(via Thenewswire.ca)
Vancouver, BC / TheNewswire / July 19, 2016 - Cannavest Capital Corp. ("Cannavest") announces that it has filed a lawsuit against Aurora Cannabis Inc. (CSE: ACB, OTCQX: ACBFF) ("Aurora") in the Supreme Court of British Columbia.
Cannavest is challenging Aurora's refusal to honour Cannavest's legal right to exercise common share purchase warrants (the "Warrants") for common shares in the capital of Aurora at a price of $0.02 per common share. Nine million Warrants were originally granted to Cannavest while Aurora was a private company and were, subsequently, reissued to Cannavest by Aurora when the common shares of Aurora listed on the Canadian Securities Exchange on December 9, 2014. On December 4, 2015 Cannavest exercised 500,000 of the 9,000,000 warrants it holds. Aurora failed to issue 500,000 shares to Cannavest or provide it with share certificates and new warrants reflecting the balance of the shares purchasable under the Warrants. Cannavest has retained the services of Miller Thomson LLP to enforce its lawful right to the Warrants, and the underlying common shares, and to claim for damages. A trial has tentatively been set for March 2017.
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