TSXV:EVE.H - Post by User
Post by
mystique1on Sep 16, 2020 10:03pm
159 Views
Post# 31572412
Another cash strapped company files for protection
Another cash strapped company files for protectionwho is next....... PharmHouse files for creditor protection, halting court proceedings against Canopy Growth Canadian cannabis cultivator PharmHouse is the latest pot-related company to be granted creditor protection, a move that will help restructure its business and operations while halting court proceedings where several pot producers were sued for US$500 million over a supply dispute. Canopy Rivers, which holds a 49 per cent stake in PharmHouse, will provide the cultivator with US$7.2 million in debtor-in-possession financing. The announcement comes less than a month after a numbered company that controls the remaining 51 per cent of PharmHouse sued a group of cannabis producers including Canopy Growth, Canopy Rivers and TerrAscend Corp. for $500 million in damages.