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Cannabis company Phoena will wind down business under creditor protection

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Phoena Holdings Inc. plans to wind down its business and has obtained creditor protection for a second time.

Melissen founded Kenzoll and took the helm of Phoena when former chief executive Greg Guyatt stepped down in February.

An Ontario court, who heard a case brought by the Ontario Securities Commission, acquitted three of the company’s former executives last year. Peter Aceto, Eric Paul and Mark Litwin had been charged with offences linked to the alleged unlicensed growing, but midway through the case the securities regulator revealed it no longer had a reasonable prospect of convicting the men.

 

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Cannabis company Phoena will wind down business under creditor protection - BNN BloombergPhoena Holdings Inc. plans to wind down its business and has obtained creditor protection for a second time.
Source: BNNBloomberg - 🏆 83. / 50 Read more »