YOURF - Surprise Inspection Forces Cannabis Company To Cancel $3M Sale Deal Shareholders Opposed | Benzinga
YourWay Cannabis Brands Inc. (CSE: YOUR) (OTC: YOURF) has terminated the definitive agreement to sell Labtronix, Inc.
The special meeting of shareholders scheduled for Dec. 28, 2023 to vote on the sale of Labtronix has been canceled.
What Happened
Last week, the Labtronix manufacturing location was visited by the fire department for a surprise inspection and was ordered to cease all extraction operations immediately until certain improvements are made to the facility, the company said on Tuesday.
It is undetermined how long it will take to rectify this issue as it requires engineering and permitting through the City of Phoenix.
In direct response to this infraction the license holder that Labtronix was operating under pulled the license from the building requiring all operations of Labtronix to cease. The company is in discussions with the ...