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Lawsuit Filed by Michel & Associates Against Terra Tech on Behalf of Alleged Former Partner Forced Out of Santa Ana Cannabis Shops

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Santa Ana cannabis businessman Wojciech Smolenski, through his counsel at Michel & Associates, PC, has filed a complaint in a Santa Ana court against his former employer, Terra Tech Corp., and alleged former partners contending that Terra Tech and other defendants defrauded him of profits from development of Santa Ana cannabis businesses. Terra Tech, a publicly-traded company specializing in cannabis operations, entered the Orange County cannabis market in 2017 when it acquired The Reserve retail cannabis store in Santa Ana and rebranded it as a Blüm store. Terra Tech later acquired an ownership stake in another Santa Ana cannabis operation, The Healing Tree Collective.

In addition to Terra Tech, Smolenski’s suit names affiliated companies and officers of Terra Tech as defendants.  Smolenski claims that Terra Tech and two company officers used false promises of a partnership in developing several Santa Ana properties into cannabis businesses to induce him to allow Terra Tech to take over lucrative real estate deals on those properties to which Smolenski had exclusive rights.

Smolenski’s July 20, 2019 cross-complaint claims that Terra Tech fêted him to join Terra Tech and several others as a partner in developing Santa Ana cannabis businesses. Terra Tech brought him on board as a company executive.  Smolenski then alleges in his lawsuit that once Terra Tech gained his trust, Terra Tech and its officers terminated his employment and forced him out of their partnership in two other cannabis businesses.  Smolenski’s complaint against Terra Tech, its subsidiaries Medifarm So Cal and 55 OC Collective, and Terra Tech officers Michael Nahass and Derek Peterson, alleges causes of action for fraud, contractual breaches, and employment law violations.

According to Smolenski’s complaint, Terra Tech sought to expand its cannabis business into Orange County in 2017 by purchasing an existing cannabis business in Santa Ana with which Smolenski was affiliated, The Reserve.  Smolenski’s suit alleges that after Terra Tech acquired The Reserve, Nahass and Peterson then began actively recruiting Smolenski to partner with them and Terra Tech to grow the acquired California operations as well as develop new retail, manufacturing, and cultivation businesses at other Santa Ana properties.  Smolenski claims that in exchange for partnering with Terra Tech on developing new businesses at Santa Ana “Green Zone” locations Smolenski was already in escrow to purchase, Peterson and Nahass agreed that Terra Tech would front capital costs on the businesses and share profits from those businesses with Smolenski.  Smolenski claims they also agreed to employ him with a lucrative salary and benefits as a high-level employee of Terra Tech.

Smolenski claims that these promises were shams to get control of the two Green Zone properties Smolenski was already in the process of purchasing.  Specifically, his lawsuit alleges that once Smolenski transferred the purchase rights over to Terra Tech, and secured city cannabis licenses for the properties, Peterson and Nahass came up with pretextual reasons to fire Smolenski from his Terra Tech job and repudiate the existence of the partnership.  Smolenski also claims that Terra Tech failed to provide him stock options and pay bonuses he had earned at the time of his termination from his employment.

Smolenski’s complaint also claims that Terra Tech has a practice of going into new markets, finding investors or local cannabis operations, and then purporting to partner with them only to later force them out.  Smolenski’s claims are similar to claims in a lawsuit settled earlier this year between Terra Tech and a Nevada investor.  In November 2018, Terra Tech and other affiliated companies and officers, including Nahass and Peterson, were sued in a Reno court in Medifarm I, LLC, v. Terra Tech, Inc.

That lawsuit claimed that local Reno businesswoman Heidi Loeb Hegerich was solicited by Nahass, Peterson, and others to contribute capital and other assets to a joint venture with Terra Tech to open Reno-area cannabis businesses. That lawsuit alleged that after Hegerich contributed capital and joined the venture, Terra Tech and other partners improperly diverted assets from the venture, attempted to lock Hegerich out of the operations and the books, and began working with a competing cannabis business.

That lawsuit was settled within three months after it was filed, with Terra Tech paying the plaintiffs $6.3 million but disclaiming liability. Terra Tech has recently decided to sell the Reno dispensary that was part of that lawsuit—Blüm Reno—for $15 million.

Smolenski’s complaint comes in response to Terra Tech’s own lawsuit against Smolenski, Smolenki’s wife, and an affiliated company that was filed earlier this year.  Among the allegations in that complaint, Terra Tech claims that Smolenski stole money from the company, damaged a company computer, and sold cannabis products for Terra Tech but failed to remit the proceeds to Terra Tech.  Smolenski filed an answer to Terra Tech’s lawsuit in July denying the claims.  Terra Tech has not yet answered Smolenski’s suit.

SOURCE Michel & Associates, PC

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SLANG Worldwide to Participate in Investor Events

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Toronto, Ontario–(Newsfile Corp. – August 7, 2020) – SLANG Worldwide Inc. (CSE: SLNG), (“SLANG” or the “Company“), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced its participation in upcoming investor conferences.

August 12: Canaccord Genuity 40th Annual Growth Conference

SLANG CEO Chris Driessen will present at 10:00am EDT and be available for investor meetings, along with other members of the executive team.

August 18: Benzinga Virtual Cannabis Capital Conference

SLANG CEO Chris Driessen will participate in a fireside chat at 1:05pm EDT titled “Adaptability in Business – When and Where to Apply Capital or Pull it Back.”

Mr. Driessen has also joined the Benzinga Cannabis Advisory Council, comprised of thought leaders from different segments in the industry who come together to share their knowledge, connections and expertise with the Benzinga community.

The Company will post details of these and other events on its website, including links to any available webcasts, when they become available. Investors who wish to receive SLANG news releases, monthly newsletters and other information are encouraged to subscribe to the Company’s investor email list though its website.

Media and Investor inquiries

Investors@SLANGww.com

About SLANG Worldwide Inc.

SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. The Company specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. SLANG is listed on the Canadian Securities Exchange under the ticker symbol SLNG. For more information, please visit www.slangww.com.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings “Risk Factors” in SLANG’s final long form prospectus dated January 17, 2019 and “Risks and Uncertainties” in the management discussion and analysis for the year ended December 31, 2019 and three months ended March 31, 2020, each as filed on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61312

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PAOG CEO Interview: Cannabis Pharmaceutical Development; Acquired Revenue; Updated Financials; Why PPS Is Undervalued and Timing of Anticipated Correction

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Sandusky, Ohio–(Newsfile Corp. – August 7, 2020) – PAO Group, Inc. (OTC Pink: PAOG) today announced an interview of CEO James C. DiPrima on MoneyTV with Donald Baillargeon. The interview is available on the MoneyTV website discussing new cannabis pharmaceutical developments, a recently acquired revenue stream, upcoming financial reports bringing the company current with OTC Markets and discussing why the current price per share (PPS) of PAOG is undervalued and what event is anticipated to correct the valuation . Mr. DiPrima also appeared on MoneyTV last week following PAOG’s acquisition of two medical cannabis companies.

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Interview Highlights:

Mr. DiPrima discusses PAOG’s partnership with a Contract Research Organization (CRO) and a formal agreement in the works to advance an Investigational New Drug Application (IND) to ultimately achieve Food and Drug Administration (FDA) approval for RespRx (one of the two acquisitions executed by PAOG last week) as a COPD treatment.

Based on positive results from an informal trial of RexpRx with 25 COVID-19 patients, PAOG also plans to make Coronavirus Treatment Acceleration Program (CTAP) application after entering into a CRO agreement.

The COPD treatment, RespRx, is derived from a patented cannabis extraction method – U.S. Patent No. 9,199,960 entitled, “METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT.”

Mr. DiPrima confirms a recently published new PAOG website and the coming publication of PAOG’s financial reports. He further confirms the company now has a revenue base with the acquisition of a cannabis cultivation operation from Puration, Inc. (PURA). Mr. DiPrima concludes the interview with a discussion of why he believes the PPS is undervalued and that he anticipates a PPS correction when the PAOG financials are published.

MoneyTV with Donald Baillargeon is the internationally syndicated television program all about money and what makes it happen, featuring informative interviews with company CEOs and executives, providing insights into their operations and outlooks for their futures. MoneyTV is seen in over 200 million TV households in more than 75 countries.

The MoneyTV Interview is available at www.moneytv.net and will be syndicated across multiple channels and platforms.

www.paogroupinc.com

Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

CONTACT INFORMATION

Contact Us:
Jim DiPrima
888-272-6472
info@pao.group

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61293

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PURA Announces Dividend Declaration Date and Anticipated Date of Record

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Dallas, Texas–(Newsfile Corp. – August 7, 2020) – Puration, Inc. (OTC Pink: PURA) today announced plans for a formal declaration of a dividend distribution this coming Monday, August 10, 2020. The dividend declaration is expected to be announced the following day, on Tuesday, August 11, 2020. The plan is for the dividend distribution date of record, or the day on which a shareholder must own stock to be eligible for the dividend to promptly follow the declaration date. The declaration date is subject to regulatory approval and the specific date will be released accordingly. The plan is also to pay the dividend promptly. The payment execution is subject to the payment process which involves the transfer agent(s) for the distributed stock and the broker network.

The planned dividend distribution to PURA shareholders results from the recent sale of PURA’s cannabis cultivation operation to PAO Group, Inc. (OTC Pink: PAOG).

The cannabis cultivation operation was sold last week in exchange for PAOG common stock. The stock is slated to be distributed to PURA shareholders in a dividend distribution. The planned distribution ratio is 1 for 1. Accordingly, PURA shareholders will receive one share of PAOG stock in exchange for every PURA share held.

For more information on Puration, visit http://www.purationinc.com

Disclaimer/Safe Harbor:

This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.

Contact:
Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
(800) 861-1350

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61295

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