All is not zen at
Namaste Technologies Inc. (TSX: V.N). The cannabis tech company announced on Monday that it has fired its CEO Sean Dollinger and will be
conducting an investigation into his actions.
His termination came about after a special committee ran an investigation into the company’s board of directors based on accusations based by short seller Citron Research in October 2018. This led Namaste to learn of that Dollinger had committed several breaches of fiduciary duty and now the company is looking at all value-maximizing alternatives, which could include massive transactions or selling the company. Namaste’s Chief Product Officer Meni Morim has stepped in to serve as interim CEO.
The company's stock lost as much as 14% in morning trading, down to $1.18 (CAD).