MJBizMagazine September 2021 - 18

CompanyNews | U.S., Canada & International
in cash and $5.4 million in stock upon closing. The
company plans to build out the cultivation capacity
over the next year.
Hard Rock Cafe, Cointreau Allege
Hemp Trademark Infringement
Hard Rock Cafe and spirits maker Cointreau Corp.
are the latest to bring trademark complaints against
CBD manufacturers. In lawsuits filed in New York and
Florida, the companies allege that CBD makers are
trying to confuse customers into thinking they are
buying branded CBD products coming from the older
companies.
Restaurant chain Hard Rock Cafe sued Hard Rock
Hemp, a South Carolina company that makes CBD
topicals, edibles and pre-rolls. Cointreau Corp. filed
suit against Canopy Growth Corp. for its line of hempderived,
CBD-infused beverages sold under the brand
Quatreau.
Hard Rock and Cointreau both seek unspecified
damages. The hemp companies have not replied to
the charges and did not return messages from Hemp
Industry Daily.
Verano to Acquire Sierra Well for $29 Million
Illinois-based cannabis multistate operator Verano
Holdings said it is spending $29 million to acquire
Sierra Well, a vertically integrated marijuana company in
Nevada with two retail outlets as well as production and
cultivation facilities.
In exchange for $5.6 million in cash and 1.5 million
shares, Verano is getting 11 cannabis licenses in Nevada.
The two retail stores are located in Carson City and Reno.
MassRoots and Hedge Fund
in Legal Tangle Over Stock Claim
Denver-based cannabis social media platform
MassRoots, which recently announced a deal to
merge with metal-recycling firm Empire Services, is
trying to fend off a $12 million arbitration claim by an
investment fund.
Iroquois Master Fund, a hedge fund operated by
Iroquois Capital Management of the Cayman Islands,
claimed in a demand for arbitration that it holds a
warrant entitling it to purchase up to 156.3 million
shares of MassRoots stock at $0.0004 per share.
MassRoots counters that it's not subject to the warrant,
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MJBizMagazine September 2021

Table of Contents for the Digital Edition of MJBizMagazine September 2021

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