Aurora Cannabis sued over $1.9-million option
2017-12-04 10:59 ET - Street Wire
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by Mike Caswell
Aurora Cannabis Inc. is a defendant in a lawsuit filed in the Supreme Court of British Columbia over a stock option allegedly worth $1.9-million. A Nevada company claims that it received the option in a 2015 consulting agreement. It says that when it attempted to exercise that option, Aurora refused to allow the share issuance.
Details of the dispute are contained in a notice of claim filed at the Vancouver courthouse on Nov. 29, 2017. The lawsuit was filed by Electrum Partners LLC of Las Vegas. Electrum identifies itself as a consulting firm with expertise and contacts in the legal cannabis industry.
According to the suit, Electrum entered into a consulting agreement with Aurora on March 16, 2015. The agreement called for Electrum to provide Aurora with some sort of services (which the lawsuit does not describe). According to Electrum, as part of that agreement it received an option to buy 300,000 shares of Aurora at 39 cents. The consulting agreement ended after one year, but the option was to be exercisable for five years, or until March 16, 2020, Electrum claims.
Aurora Cannabis sued over $1.9-million option
2017-12-04 10:59 ET - Street Wire
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Mike Caswell
Aurora Cannabis Inc. is a defendant in a lawsuit filed in the Supreme Court of British Columbia over a stock option allegedly worth $1.9-million. A Nevada company claims that it received the option in a 2015 consulting agreement. It says that when it attempted to exercise that option, Aurora refused to allow the share issuance.
Details of the dispute are contained in a notice of claim filed at the Vancouver courthouse on Nov. 29, 2017. The lawsuit was filed by Electrum Partners LLC of Las Vegas. Electrum identifies itself as a consulting firm with expertise and contacts in the legal cannabis industry.
According to the suit, Electrum entered into a consulting agreement with Aurora on March 16, 2015. The agreement called for Electrum to provide Aurora with some sort of services (which the lawsuit does not describe). According to Electrum, as part of that agreement it received an option to buy 300,000 shares of Aurora at 39 cents. The consulting agreement ended after one year, but the option was to be exercisable for five years, or until March 16, 2020, Electrum claims.