In the wake of a failed merger that would have created one of the largest operators in the cannabis market, one party is seeking a significant amount in damages.
According to a court filing surfaced by MJBizDaily, Goodness Growth is seeking more than $860 million from Verano Holdings.
In 2022, Verano announced it was terminating the merger due to Goodness Growth’s breaches of covenants and representations in the agreement.
Both companies at the time said they planned to seek damages, with Verano eying nearly $15 million in termination fees plus the reimbursement of transaction expenses.
Now Goodness Growth is hitting back at Verano and accusing the company of depriving it of capital needed for continued operations.
“That vulnerability persists and increases with each passing day,” Goodness Growth said in a filing with Canadian authorities.
