TLRY - MediPharm Settles Commercial Agreement Dispute With Tilray's Hexo For $9M | Benzinga
MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) entered into a settlement agreement on September 29, 2023 to resolve a claim in connection with a commercial agreement dispute, for a total consideration value of $9 million.
On January 24, 2020, MediPharm Labs filed a statement of claim in the Ontario Superior Court of Justice against one of its long-term customers, HEXO Corp., regarding a long-term supply agreement for cannabis concentrates. The claim related to the payment of outstanding amounts due to the company for products shipped to and received by the customer and deposits owed to the company for committed amounts not yet shipped. MediPharm was awarded a favorable summary judgment in the Ontario Court of Justice in July of 2022.
The summary judgment was appealed by Hexo Corp. and a hearing at the ...