TheraCann & Sprout AI initiates counterclaim alleging market manipulation by K2 and advocating for transparency, seeking $140M damages.

Sprout AI (CSE:BYFM)

CALGARY, ALBERTA, CANADA, January 11, 2024 /EINPresswire.com/ — TheraCann International Benchmark Corporation (TheraCann International), the controlling shareholder of Sprout AI Inc (SAI) which is publicly listed on the Canadian Security Exchange (CSE) under symbol BYFM, wish to inform the public and our stakeholders of the Civil Action (Court of King’s Bench of Alberta #2301 – 05347) between The K2 Principal Fund LP (K2), a debenture holder of TheraCann International and a founder of SAI.

The Plaintiff, K2 alleges that TheraCann International owes $2,843,792 CDN on two debenture agreements from 2018 and 2019. TheraCann International denied the Claim, and responded with a Counterclaim.

Counterclaim:

The Plaintiff by Counterclaim, TheraCann International, is the founder and major shareholder of SAI. TheraCann International alleges that K2, and other named individuals engaged in a scheme to interfere with the operations of both TheraCann International and SAI, resulting in significant financial harm. The Counterclaim alleges that K2 unlawfully engaged in market manipulation (i.e. pump and dump), causing significant losses of market valuation and other financial harm to TheraCann International and SAI.

TheraCann International claims damages in excess of $140 million, alleging loss of capitalization in the amount of $90 million and economic opportunity in the amount of $50 million; TheraCann International seeks punitive damages and full indemnification of costs.

We expect that TheraCann International’s experience might resonate with others. We encourage anyone that has faced similar adversities with K2 to reach out to our legal team at Torres Arteaga Lawyers, ATTN: Francisco Torres ([email protected]).

TheraCann International and SAI are committed to transparency and integrity in all our dealings. We believe that by addressing this issue head-on and inviting others who have suffered similar injustices to join us, we are advocating for a more ethical and accountable business environment.

For further details and ongoing updates, please refer to our official channels. About TheraCann:

TheraCann is a global provider of turnkey cultivation and technology solutions. With a focus on compliance, quality, and consistency, TheraCann’s comprehensive suite of products and services supports agricultural companies throughout the entire cultivation lifecycle. TheraCann is dedicated to advancing the vertical farming industry through progressive technology and industry expertise.

For more information about TheraCann International Benchmark Corp, please visit our website: http://www.beyondfarming.com

Chris Bolton

Chief Executive Officer Phone: +011 (507) 320-5092

E-mail: [email protected]

About Sprout AI

Sprout AI is a technology company in the business of planning, designing, manufacturing and/or assembling scalable AI-controlled vertical cultivation equipment for international urban farming. The adaptive technology produces an environment with improved growing parameters and early detection of adverse conditions resulting in consistent and repeatable crops, with shorter cultivation cycles, independent of geographic climates. The self-contained multi-level rolling rack technology increases the cubic cultivation area while mitigating the risk of outside and cross-contaminants.

For more information about Sprout AI, please visit our website: http://sproutai.solutions

Colleen McKay
Sprout AI Inc., Sprout AI S.A.,
+507 320-5092
[email protected]
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Originally published at https://www.einpresswire.com/article/680654996/theracann-international-benchmark-corp-and-sprout-ai-inc-address-civil-action-and-encourage-collective-response

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