A Canadian cannabis company is being investigated by a securities regulator after two of its directors sold millions of dollars worth of shares only days before it announced a large equity financing.
The licensed producer, Maricann Group, also failed to disclose to investors that its CEO is under investigation for actions at a previous company, The Globe and Mail reported.
The Ontario Securities Commission confirmed to Marijuana Business Daily that there is an active investigation but didn’t comment further.
A Canadian cannabis company is being investigated by a securities regulator after two of its directors sold millions of dollars worth of shares only days before it announced a large equity financing.
The licensed producer, Maricann Group, also failed to disclose to investors that its CEO is under investigation for actions at a previous company, The Globe and Mail reported.
The Ontario Securities Commission confirmed to Marijuana Business Daily that there is an active investigation but didn’t comment further.
