Legal Proceedings.
−Removed: On July 22, 2020, the Company was served with a statement of claim in which it was named, together with several other Canadian licensed cannabis producers, as a defendant in a proposed class action proceeding filed in Calgary, Alberta, Canada.
−Removed: The plaintiffs allege that the defendants, including the Company, marketed and sold medicinal and recreational cannabis products with an advertised content of THC and CBD that was inaccurate and that the amount of the difference between the actual amount of THC and/or CBD in the medicinal and recreational cannabis products and the amounts of THC and/or CBD listed on the label was outside the permissible variability limits.
−Removed: The proposed class has not yet been certified.
−Removed: The Company is currently evaluating the merits of the claim and has not yet been required to respond.
−Removed: The Company has been named as a defendant, together with all of PharmHouse, Canopy Rivers, TerrAscend Corp.
+Added: As previously disclosed in the Company’s quarterly report on Form 10-Q for the quarterly period ended September 30, 2020, the Company has been named as a defendant, together with all of PharmHouse, Canopy Rivers, TerrAscend Corp.
and TerrAscend Canada Inc., in an action commenced in the Ontario Superior Court of Justice sitting at Windsor on August 31, 2020 by the PharmHouse JV Partner.
3 unchanged sentences
The action was stayed by a court order made September 15, 2020, by the Ontario Superior Court at Toronto (Commercial List) (the “Court”) on application made by PharmHouse pursuant to the Companies’ Creditors Arrangement Act.
−Removed: On October 30, 2020, the Courts made a further endorsement directing that the PharmHouse JV Partner will discontinue the aforementioned claim against all defendants, entirely without prejudice in all respects to the PharmHouse JV Partner’s rights to recommence the claim against all defendants other than PharmHouse.
+Added: On October 30, 2020, the Court made a further endorsement directing that the PharmHouse JV Partner will discontinue the aforementioned claim against all defendants, entirely without prejudice in all respects to the PharmHouse JV Partner’s rights to recommence the claim against all defendants other than PharmHouse.
The PharmHouse JV Partner may not recommence the claim until at least January 1, 2021.
+Added: The action was discontinued November 9, 2020 by the PharmHouse JV Partner.
+Added: As of the date hereof, it has not been recommenced.
Risk Factors.
6 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.