It’s all getting a bit silly really
MJ Biz
Marijuana multistate operator Goodness Growth Holdings is seeking $860.9 million in damages from Verano Holdings Corp., alleging breach of contract after the latter MSO terminated its agreement to acquire Goodness Growth.
Minneapolis-headquartered Goodness Growth filed an application on May 2 with the Supreme Court of British Columbia requesting an expedited summary trial.
Goodness Growth alleges that it continues to pay a steep cost for the failed all-stock deal initially valued at roughly $413 million after Chicago-based Verano wrongfully terminated the deal.
“Verano’s repudiation of the Arrangement Agreement constitutes an existential threat to Goodness Growth’s ongoing operation,” according to the filing.
“It deprived the company of the access to capital it needed in circumstances where its looming debt facility deadline made it particularly vulnerable. That vulnerability persists and increases with each passing day.”
Read along as MJBizDaily reporter Kate Robertson details the litigation and how Goodness Growth and Verano got here.
