A group of investors has alleged that a Northern California cannabis farming cooperative refused to pay back or even acknowledge their $600,000 loan that came due earlier this year. In a complaint filed Tuesday in Los Angeles state court, the investors allege they entered into a deal in May 2019 to loan the money to Humboldt County cannabis grower Emerald Family Farms and its purported agent, SoCal Building Ventures LLC, to help finance the construction of a new processing facility. According to the complaint, the loans were to be repaid in two years but could also be converted into equity in either…
To Read The Rest Of This Article By Sam Reisman on Law360
Published: November 18, 2021
Founder & Interim Editor of L.A. Cannabis News
