It’s time for your Daily Hit of cannabis financial news for May 18, 2018:
On The Site:
The cannabis technology company Eaze finds itself in legal jeopardy as a class action lawsuit has been filed alleging that the company violated the Telephone Consumer Protection Act (TCPA) of 1991 by sending out unsolicited marketing text messages en masse various individuals across the country.
The lawsuit was filed by Farrah Williams and reported in MJ Biz Daily, who alleges that between September 2017 through the present she received dozens of unsolicited texts messages from Eaze. Williams’ suit claims that Eaze contacted her through the use of an autodialer and that the same had happened to countless others. The case also mentions the technology provided by (among other agents or affiliates) a company called Bitesize, which was founded and is operated by an individual named Jessica Lee. As restitution Williams is seeking an injunction prohibiting Eaze from committing any further violation of the TCPA, $2000 for herself and each member of the lawsuit for each and every text message that violated the TCPA, and payment of attorneys’ fees and costs.
In Other News
The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TGODF) announced that on May 9, 201,8 its facility based in Ancaster, Ontario received organic certification from Ecocert Canada, an internationally recognized world-leading organization in organic certification.
“This is another step in TGOD’s planned expansion to be the world’s largest branded organic cannabis company. Consumers world-wide are interested in quality products and TGOD will continue to strive to provide the highest quality organic product that complements the natural product preferences of today’s consumer,” said Mr. Robert Anderson, Co-Chairman and CEO.
Marapharm Ventures Inc.
Marapharm Ventures Inc. (MRPHF) announced today that it intends to proceed with a non-brokered private placement of up to 6,666,667 Units at CDN $0.60 per Unit to raise gross proceeds of up to $4,000,000. The Unit will consist of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each warrant entitles the holder thereof to purchase one Common Share of the Company at an exercise price of $0.70 for a period of 12 months from the date of issuance of the warrant.
Cronos Group Inc. (CRON) announced that it has appointed Jim Rudyk as lead director and has entered into an engagement agreement to retain Athena Advisors LLC as its agency of record for investor relations and corporate communications.