Folium Biosciences and Australis dealings lead to start of SEC Inquiry

Folium Biosciences and Australis dealings lead to start of SEC Inquiry

U.S. cannabis company Australis called off its reverse merger with Colorado-based CBD wholesale company, Folium Biosciences, this month stating their due diligence found new information that made them want to back-out of the deal. Australis didn’t explain what that new information was but Cannabis Law Report reviewed private communication from an Aurora board member that said Australis parent company was alarmed at Folium’s recent massive layoffs and their was real concern that one of the former employee’s lawsuits, filed in Federal court, against Folium could lead to “catastrophic loss”. Additionally, Cannabis Law Report obtained copies of Folium’s 2019 accounting which…

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Source : CANNANNEW REPORT
Link to original : Folium Biosciences and Australis dealings lead to start of SEC Inquiry
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