Proactive Investors - Run By Investors For Investors

Namaste Technologies says ex-CEO Sean Dollinger is suing the cannabis company

Earlier this week, the company announced that following an investigation by a special committee of the board, Dollinger was fired
A law book
Ex-CEO Sean Dollinger’s suit is now before an Ontario court, according to Namaste

Namaste Technologies Inc (OTCMKTS:NXTTF) (CVE:N) said its former CEO, Sean Dollinger, is suing the company over his departure from the cannabis company.

The Vancouver-based company said Monday in a press release distributed by Cision that the matter is now before the Ontario Superior Court of Justice Commercial List, which handles commercial litigation.

READ: Namaste Technologies says ex-CEO Sean Dollinger is suing the cannabis company

Earlier this week, the company announced that following an investigation by a special committee of the board, Dollinger was terminated as CEO.The company also said it was starting a strategic review to consider alternatives including a sale of Namaste.

Meni Morim was appointed interim CEO.

According to the company, the investigation focused on the sale of Namaste's US subsidiary, Dollinger Enterprises US Inc, and subsequent transactions involving its assets and companies in which Dollinger had an interest. 

"I intend to begin setting the record straight and clearing any misconceptions caused by the inaccurate allegations levelled against me," said Dollinger in a statement issued Tuesday.

Shares fell 3% to US$0.87 in morning OTC Markets trading and lost 4.2% C$1.14 in Canada.

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full N profile View Profile

Namaste Technologies Inc Timeline

Related Articles

scientist in lab
December 18 2018
VAL401 is ValiRx’s most advanced compound, with earlier trial results suggesting it can improve quality of life and chances of survival of lung cancer patients
1538160791_petri-dishes.jpg
September 28 2018
The biotech group revealed it had brought in $9.1mln via an oversubscribed placing
1537236236_main-better-use.jpg
September 17 2018
The company is utilising technology and big data to tackle the growing healthcare crisis and personalise treatment options for preventative care.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use