In a latest growth, Harvest of Ohio has issued a forceful response to allegations of mortgage default by Florida-based Trulieve Hashish Corp TCNNF and its subsidiaries.
What Occurred: Harvest of Ohio accused Trulieve Inc., Harvest Well being and Recreation (HHR), and related entities of orchestrating an illegal enterprise to execute a hostile takeover of their Black and woman-owned medical cannabis enterprise in Ohio.
The response contended that Trulieve Entities, as an alternative of delivering on their guarantees to help Harvest of Ohio, engaged in predatory practices that hindered the enterprise’s operations.
These practices included imposing predatory loans with exorbitant costs, providing empty operational help, underfunding the cultivation facility, and deceptive state regulators, per a press launch.
Harvest of Ohio additional alleged that Trulieve Entities exploited a statutory carve-out supposed to advertise fairness in Ohio’s hashish trade, whereas concurrently scheming to displace the predominantly Black and feminine possession group and government group.
Furthermore, the response claims that Trulieve deliberately engaged in bad-faith negotiations whereas securing licenses to compete with Harvest of Ohio within the Ohio market.
Subsequently, Trulieve abruptly terminated negotiations and initiated a lawsuit.
The case is now pending within the Ohio Courtroom of Frequent Pleas, Franklin County, underneath Case No. 23 CV 005001.
Worth Motion: Trulieve’s shares traded 0.16% down at $ 6.20 per share on the time of writing late Friday afternoon.
Picture by Sasun Bughdaryan On Unsplash