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Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Clariant AG (OTCMKTS: CLZNY), MoneyLion, Inc. (NYSE: ML), Cronos Group, Inc. (NASDAQ: CRON), and Agrify Corporation (NASDAQ: AGFY). Our investigations concern whether these companies have violated the federal securities laws andor engaged in other unlawful business practices. Additional information about each case can be found at the link provided.

Clariant AG (OTCMKTS: CLZNY)

On February 14, 2022, Swiss chemical maker, Clariant AG, disclosed that it will delay issuing Q4 2021 and full year 2021 financial results due an ongoing internal investigation into potential accounting fraud.

Clariant AG is investigating internal whistleblower complaints that the company has known about since September 2021, pertaining to booking issues aimed at boosting results to meet targets.

On this news, shares of Clariant AG ADR shares fell more than 14% in intraday trading on February 14, 2022.

For more information on the Clariant investigation go to: https://bespc.com/cases/CLZNY

MoneyLion, Inc. (NYSE: ML)

On March 10, 2022, MoneyLion disclosed in a filing with the U.S. Securities and Exchange Commission that "the Company's management has noted errors related to operating expenses, net loss and basic and diluted earnings (loss) per share in the condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and additional paid-in capital and retained earnings in the condensed consolidated balance sheet as of September 30, 2021, along with related impacts to the condensed consolidated statement of cash flows for the nine months ended September 30, 2021 and the condensed consolidated statements of redeemable convertible preferred stock, redeemable noncontrolling interests and stockholders' deficit for the three and nine months ended September 30, 2021." MoneyLion further disclosed that "the Company's management identified a second error . . . as the denominator of the diluted net income per share calculation for the three months ended September 30, 2021 did not include the impact of dilutive securities" and that "[t]he Company's management, in consultation with its advisors, has determined that the calculation of diluted net income per share included within the condensed consolidated statement of operations for the three months ended September 30, 2021 should have included the impact of dilutive securities." Accordingly, the Audit Committee of MoneyLion's Board of Directors determined that the financial statements in question "should no longer be relied upon and should be restated in order to correct the errors described above."

On this news, MoneyLion's stock price fell $0.18 per share, or 7.11%, to close at $2.29 per share on March 10, 2022.

For more information on the MoneyLion investigation go to: https://bespc.com/cases/ML

Cronos Group, Inc. (NASDAQ: CRON)

On November 9, 2021, Cronos filed a Form 8-K with the U.S. Securities and Exchange Commission, stating that "[o]n November 8, 2021, Cronos Group Inc. . . . determined that it will be required to restate its previously issued unaudited interim financial statements for the three and six months ended June 30, 2021 previously filed on Form 10-Q on August 6, 2021" and advising that "[t]he Company's financial statements for this period should therefore no longer be relied upon." Cronos further stated that "[t]he Company concluded that it should have recorded an impairment charge of not less than $220 million on goodwill and indefinite-lived intangible assets in its U.S. reporting unit for the three and six months ended June 30, 2021. The Company will restate its unaudited interim financial statements for the three and six months ended June 30, 2021, accordingly." According to Cronos, the Company "is also evaluating whether to record an additional impairment in the three and nine months ended September 30, 2021."

On this news, Cronos's stock price fell $1.01 per share, or 15.05%, to close at $5.70 per share on November 9, 2021.

For more information on the Cronos Group investigation go to: https://bespc.com/cases/CRON

Agrify Corporation (NASDAQ: AGFY)

On December 16, 2021, during trading hours, market analyst Bonitas Research published a report regarding Agrify which alleges several issues at the Company including that "[w]e believe that Agrify created artificial demand for its product by financing undisclosed Company insiders to act as independent customers." Further the report alleges that "Agrify insiders lied to investors about the independence of its customer base in order to execute a dubious stock promotion for self-enrichment at the expense of minority shareholders[,]" and that "[e]vidence showed that five (5) of Agrify's eight (8) customer announcements in 2021 are either with undisclosed Company insiders or with unlicensed unproven operators."

On this news, Agrify's common stock price fell sharply during intraday trading on December 16, 2021.

For more information on the Agrify investigation go to: https://bespc.com/cases/AGFY

CareDx, Inc. (NASDAQ: CDNA)

On January 25, 2021, the Company sold 1,923,077 shares of its common stock through an underwritten public offering at a public offering price of $91.00 per share.

On October 28, 2021, after the market closed, CareDx released Q3 2021 financial results in which the Company disclosed that the U.S. Department of Justice ("DOJ") had recently served a civil investigatory demand requesting documents in connection with a False Claims Act investigation. The DOJ is investigating business practices related to CareDx's kidney testing and phlebotomy services. The Company also disclosed that it received a subpoena from the U.S. Securities and Exchange Commission ("SEC") for similar issues as well as certain accounting and public reporting practices, and the Company received an information request from an unnamed state agency.

On this news, the Company's share price declined by $19.34 per share, or approximately 27.5%, from $70.34 per share to close at $51.00 per share on October 29, 2021.

For more information on the CareDx investigation go to: https://bespc.com/cases/CDNA

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com . Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com


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Cannabis Investing

Ongoing Growth in North America’s Cannabis Space

An article curated by Bazinga highlighted the cannabis market trends from last week. Even though last week was short, the cannabis sector was a busy. The article went on to highlight a number of the cannabis companies looking preparing for their IPOs, among other cannabis related news.

The article went on to highlight the Flowr Corporation as one of numerous companies looking to go public by the end of the year. Flowr’s management team is responsible for the creation and success of MedReleaf, an R&D focused company in the medical cannabis space. In preparation for its RTO in Canada, the company has raised $36 million in financing.

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The Greenrose Holding Company Reports First Quarter 2022 Results

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The Greenrose Holding Company Inc. (OTC: GNRS, GNRSW) ("Greenrose" or the "Company"), a multi-state grower and producer of cannabis brands and products, is reporting financial and operating results for the first quarter ended March 31, 2022 .

First Quarter 2022 Financial Summary (Non-GAAP)

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36 of the Best Ideas Companies to Present at the Spring into Action - Best Ideas Investor Conference on May 16th - 20th, 2022

36 of the Best Ideas Companies to Present at the Spring into Action - Best Ideas Investor Conference on May 16th - 20th, 2022

The Spring into Action- Best Ideas Virtual Investor Conference will take place on May 16th - 20th, 2022, where 36 SmallCap, MicroCap and NanoCap public companies will be presenting via virtual webcast to a global investor audience

The Spring into Action: VIRTUAL begins on Monday, May 16th, 2022, with a Biotech Discovery Day. Company presentations begin at 1:30 PM Eastern Time. Presentations will be webcast on Monday, Tuesday and Wednesday (May 16th, 17th and 18th) with 1x1 Meetings being held on Thursday and Friday (May 19th and 20th).

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TerrAscend Launches First-Ever Concentrates in New Jersey

Liquid Live Resin Vape Cartridges and Live Resin Crumble Now Available Exclusively at New Jersey Apothecarium Dispensaries

 TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced the first-ever launch of cannabis concentrates in the state of New Jersey . Kind Tree Liquid Live Resin Vape Cartridges and Kind Tree Live Resin Crumble are available exclusively at The Apothecarium Maplewood and Phillipsburg locations. The company also commenced sales of adult-use cannabis-infused edibles under its Valhalla brand.

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Adastra Holdings Announces New Director

Adastra Holdings Announces New Director

Adastra Holdings Ltd. (CSE: XTRX) (FRA: D2EP) ("Adastra" or the "Company"), a Health Canada Licensed cannabis company focused on processing, sales, organoleptic testing, and analytical testing, is pleased to announce the appointment of Smoke Wallin to the Company's board of directors.

Adastra Holdings brand ticker (CNW Group/Adastra Holdings Ltd.)

"We are extremely honoured and privileged to welcome Mr. Wallin to Adastra's board of directors," said Michael Forbes , CEO of Adastra. "Mr. Wallin is an accomplished leader and international business builder in the CPG, cannabis, health and wellness, food and beverage, distribution, hospitality and technology industries. Mr. Wallin is a seasoned executive and serial entrepreneur who has a wealth of knowledge in the cannabis industry. I am confident that he will be an important contributor to our Company's long term success."

Mr. Wallin added, "I'm excited to support Michael and the team at Adastra as they build on an already impressive set of production assets in the Canadian cannabis market, with an eye toward additional capabilities in some super innovative forward looking therapeutics including Psilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD. I believe in their strategy and the team's ability to execute their growth plan profitably, something quite rare in this rapidly growing market."

Mr. Wallin is a highly accomplished CEO, entrepreneur, leader, board member and philanthropist with more than 25 years of success across the consumer products, beverage, cannabis, distribution and technology industries. He is a partner and Managing Director for STS Capital Partners; has frequently served as CEO for new and existing businesses; has been directly involved in $1.7 billion in mergers and acquisitions and financings; and has acquired, created, or sold 50+ brands and companies. He has been recognized with the Ernst & Young Entrepreneur of The Year award, and the Vanderbilt Business "Distinguished Alumni Award." He was also named one of the 100 most influential leaders in the cannabis industry by High Times Magazine. Smoke earned an MBA from Vanderbilt University and a B.S. degree in Agricultural Economics from Cornell University's Dyson School of Applied Economics at the Cornell SC Johnson College of Business.

About Adastra Holdings Ltd.

Founded in 2018 and formerly known as Phyto Extractions Inc., Adastra is a leading manufacturer and supplier of innovative ethnobotanical and cannabis science products designed for the adult-use and medical markets and forward-looking therapeutic applications. Adastra is recognized as a high-capacity processor and co-manufacturer throughout Canada . Adastra is known for its popular line of Phyto Extractions branded cannabis concentrate products available on shelves at over 1,400 adult-use retailers across the country. The Company also operates Adastra Labs, a 13,500 sq. ft. agricultural-scale Health Canada licensed facility located in Langley, BC , focused on extraction, distillation, and manufacturing of cannabis-derived products. Adastra has successfully taken steps in becoming a licensed cultivator, tester, extractor, and seller of controlled substances, including Psilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD by applying for a Controlled Substances Dealer's Licence, which is under review by Health Canada. Pending Health Canada approval, Adastra is poised to be a drug formulation and development leader in this emerging sector. In addition, with the recent acquisition of 1225140 B .C. Ltd., doing business as PerceiveMD, Adastra operates a multidisciplinary centre for medical cannabis and psychedelic therapies, working alongside doctors and healthcare professionals within the regulated environment to help create efficacious remedies that address the actual needs of patients. For more information, visit: www.adastraholdings.ca.

Forward-Looking Information

This news release includes forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking information in this news release includes statements with respect to: (i) the Company's long-term success; (ii) the Company building on production assets in the Canadian cannabis market and additional therapeutic areas including Psilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD; and (iii) the Company's execution of its growth plan. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the cannabis extraction sector in general; (iii) changes in regulations surrounding cannabis as a controlled substance; and (iv) other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

SOURCE Adastra Holdings Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2022/16/c7339.html

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Cresco Labs Announces the Expiration of the HSR Act Waiting Period for the Proposed Acquisition of Columbia Care

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