NetworkNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Announces Receipt of Statement of Claim Relating to PharmHouse JV
Canopy Rivers (TSX: RIV) (OTC: CNPOF), today announced its receipt of a statement of claim filed by 2615975 Ontario Inc., the company’s joint venture (“JV”) partner in PharmHouse Inc., concerning certain disputes relating to PharmHouse. According to the update, the claim makes a number of allegations against the company, Canopy Growth Corporation and TerrAscend Corp. and TerrAscend Canada Inc. (together, “TerrAscend”), including claims relating to bad faith, fraud, civil conspiracy, breach of the duty of honesty and good faith in contractual relations and breach of fiduciary duty, and claims relating to PharmHouse’s offtake agreements with Canopy Growth and TerrAscend. The company considers the claim as it relates to the actions of Canopy Rivers to be completely without merit and intends to vigorously defend its position at the appropriate time and in the appropriate forum.
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