A licensed cannabis producer facing significant financial issues is alleging the company's own founders misappropriated approximately $14 million from its coffers, leaving hundreds of shareholders will little to show for their investments.
A video obtained by the Financial Post of a private shareholders' meeting Jan. 14 shows executives of Green Relief detailing a series of transactions they allege were executed by two of the company’s co-founders — Warren and Lyn Bravo — resulting in millions being siphoned out of Green Relief for personal use over a period of six years.
The Bravos have denied all allegations made by Green Relief executives against them.
The Hamilton, Ont.-based private medical cannabis company, which touts itself as the world’s only cannabis company that uses aquaponics to grow medical cannabis, has been struggling to stay afloat since March 2019, a month after Warren Bravo stepped down from his position as chief executive.
Read more at business.financialpost.com
