One among Connecticut’s 4 licensed hashish producers was offered final week, in response to a filing with the Securities and Trade Fee (SEC). NewCo, a subsidiary of DXR Holdco, bought Theraplant, which was in foreclosures, for an undisclosed sum.
In keeping with the submitting, Theraplant had $4,107,400 value of property in foreclosures. NewCo indicated these obligations can be “happy in full” however that $5 million in different monetary obligations “stay excellent.”
Theraplant’s chief monetary officer, Bernard Wang, was fired in reference to the deal.
In a press release to CT News Junkie, Division of Client Safety spokesperson Kaitlyn Krasselt mentioned the possession change “didn’t impression [Theraplant’s] operations and they’re persevering with to produce the market with out incident.”
“Sustaining acceptable market provide, significantly for medical sufferers, stays a precedence for the division and as soon as notified of a proposed change in possession the division critiques the transaction for any provide impacts and works with licensees to make sure sufficient provide.” — Krasselt to CT Information Junkie
Greenrose Holding Firm, Theraplant’s earlier proprietor, final August disclosed $24 million in losses to the SEC in the course of the first half of 2022 and the corporate additionally confronted a debt assortment lawsuit in Arizona, in response to a CT News Junkie report.
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