−Removed: March 25, 2024, our indirect wholly owned subsidiary, Mary Jones Michigan LLC (“MJM”), received a Notice of Claims for arbitration
−Removed: (the “Core Claim”) from Core for an arbitration proceeding to be held in Columbus Ohio, unless otherwise agreed to by the
−Removed: The Core Claim alleges that MJM breached the terms of the agreement entered into between MJM and Core on August 24, 2023 (the
−Removed: “Core Agreement”).
−Removed: The Core Agreement provided that Core was to manufacture a line of Hemp derived Delta-9 THC craft sodas
−Removed: Previous to the Core Claim, MJM sent a Notice of Material Breaches by Core Manufacturing and Demand for Audit dated February
−Removed: 1, 2024, which claimed that Core was in breach of its commitments under the Core Agreement.
−Removed: In the Core Claim, Core is seeking to enforce
−Removed: the break-up fee provision in the Core Agreement (which Core calculates to be $7,220,357), as well as obtain other damages arising from
−Removed: MJM’s alleged failure to comply with the Core Agreement.
−Removed: June 10, 2024, MJM filed a legal claim against P3 Capital Partner LLC (“P3”), an entity related to Core, in the United States
−Removed: Court for the Western District of Michigan, asserting fraud, conversion, and breach of contract in connection with a $155,700 deposit
−Removed: previous paid to P3 in connection with the license and manufacturing agreement between MJM and P3 (the “P3 Litigation” and
−Removed: together with the Core Claim, the “Litigation Matters”) .
−Removed: February 2025, a confidential settlement agreement was entered into between all the parties to the Litigation Matters, which has resulted
−Removed: in the settlement and/or dismissal of both Litigation Matters.
−Removed: than the above, we are not currently involved in any material legal proceedings.
−Removed: We may be involved from time to time in various claims
−Removed: and legal actions arising in the ordinary course of business, including proceedings involving employee claims, contract disputes, product
−Removed: liability and other general liability claims, as well as trademark, copyright, and related claims and legal actions.
−Removed: In the opinion of
−Removed: our management, the ultimate disposition of these matters will not have a material adverse effect on our consolidated financial position,
−Removed: results of operations or liquidity.
−Removed: SAFETY DISCLOSURES.
+Added: LEGAL PROCEEDINGS.
+Added: are not currently involved in any material legal proceedings.
+Added: We may be involved from time to time in various claims and legal actions
+Added: arising in the ordinary course of business, including proceedings involving employee claims, contract disputes, product liability and
+Added: other general liability claims, as well as trademark, copyright, and related claims and legal actions.
+Added: In the opinion of our management,
+Added: the ultimate disposition of these matters will not have a material adverse effect on our consolidated financial position, results of
+Added: operations or liquidity.
+Added: MINE SAFETY DISCLOSURES.
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.