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CannaRoyalty Shares Update on Rich Extracts
Author: Bryan Mc Govern 10/11/2017 - 16:32:00

CannaRoyalty (CSE:CRZ; OTCQX:CNNRF) provided shareholders with an update on the situation with Rich Extracts. 

As quoted in the press release: 

As disclosed in the Company’s last financial statements, a lawsuit was previously filed against RE by CURA, a raw materials supplier for payment of debts owing. CannaRoyalty successfully negotiated a settlement agreement between the two parties, but RE was subsequently unable to successfully deliver on the terms of the settlement. 

The Company was informed today that Mr. R. Wilkinson, the principal of Rich Extracts, was arrested in Nebraska earlier this week, for possession of marijuana with intent to distribute. The possession and distribution of marijuana are illegal in Nebraska. This development has accelerated the Company’s efforts to enforce on its security interest in Rich Extracts and remove Mr. Wilkinson from the Rich Extracts extraction business. Following these recent developments, CannaRoyalty has alerted the Oregon Liquor Control Commission (OLCC). CannaRoyalty intends to work with the OLCC and relevant state authorities to take all available legal action to realize its security over Rich Extracts and its extraction facility.

Click here to read the full press release.

The post CannaRoyalty Shares Update on Rich Extracts appeared first on Investing News Network.

Original article from investingnews.com:CannaRoyalty Shares Update on Rich Extracts


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