A legal dispute pitting a Scotts Miracle-Gro subsidiary against an investment fund controlled by the executive chair of cannabis multistate operator TerrAscend has been settled, with the MSO-connected investment fund in effect agreeing to be bought out of a deal involving the purchase of a New York medical marijuana company.
RIV Capital, a Toronto-based investment firm bankrolled in part by the Hawthorne Collective, a cannabis-focused subsidiary of Scotts, announced the settlement in a news release Thursday.
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Scotts has funded legalization efforts in the Northeast and is trying to enter the retail cannabis market in that part of the country.
Last March, RIV Capital announced it had struck a deal to purchase Etain Health for $247 million.
Etain is one of the 10 vertically integrated medical marijuana companies allowed in New York state under current law.
The company has locations in midtown Manhattan as well as upstate.
RIV
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