Business
C21 Investments Announces Settlement of Eco Firma Farms Litigation
Vancouver, British Columbia--(Newsfile Corp. - September 4, 2025) - C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) ("C21" or the "Company"), a vertically integrated cannabis company, today announced it has entered into a settlement agreement (the "Settlement Agreement") with respect to certain actions filed in the Oregon State Circuit Court for Clackamas County and the Oregon Court of Appeals by two owners (each, a "Vendor") of Proudest Monkey Holdings, LLC ("Proudest Monkey"), an entity that..
About this update from C21 Investments Inc
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - September 4, 2025) - C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) ("C21" or the "Company"), a vertically integrated cannabis company, today announced it has entered into a settlement agreement (the "Settlement Agreement") with respect to certain actions filed in the Oregon State Circuit Court for Clackamas County and the Oregon Court of Appeals by two owners (each, a "Vendor") of Proudest Monkey Holdings, LLC ("Proudest Monkey"), an entity that was previously the sole owner of Eco Firma Farms LLC ("EFF"), a wholly-owned subsidiary of the Company (the "Oregon Actions") and an action filed in the Supreme Court of British Columbia by Proudest Monkey and one of its owners (the "BC Action", and together with the Oregon Actions, the "Litigation").","length":891,"tagName":"p"},{"type":"text","content":"The Company acquired all the membership units of EFF from Proudest Monkey pursuant to a purchase and sale agreement dated January 19, 2018 (the "EFF Agreement"). Pursuant to the Oregon Actions, two Vendors have alleged, among other allegations, claims related to contract, employment and statutory damages against the Company, its wholly-owned subsidiaries 320204 US Holdings Corp, EFF, Swell Companies Limited, and Phantom Brands LLC, in addition to three directors, two officers, and one former employee of the Company.","length":531,"tagName":"p"},{"type":"text","content":"On or about September 13, 2019, the Company delivered notice to all of the Vendors under the EFF Agreement of an alleged breach and default under the EFF Agreement in connection with certain conduct by the Vendors which occurred prior to and after the completion of the acquisition of Proudest Monkey. As a result of the aforementioned alleged breaches by the Vendors, the Company refused to issue certain equity consideration payable to the Vendors pursuant to the terms of the EFF Agreement, as a result of which Proudest Monkey and one of the Vendors launched the BC Action.","length":577,"tagName":"p"},{"type":"text","content":"Pursuant to the Settlement Agreement, the parties to the Litigation have agreed to fully and finally settle all claims between them, have each action dismissed with respect to all remaining claims on a w...