GenCanna Says Ky. Hemp Processor Walked Away From Deal

By Sam Reisman (May 26, 2021, 8:46 PM EDT) -- A dispute between the recently reorganized CBD company GenCanna and hemp processor Vertical Wellness over a contract to dry out millions of pounds of hemp culminated in GenCanna filing a lawsuit in Kentucky federal court this week.

GenCanna Acquisition Corp. alleged in a complaint filed Monday that California-based Vertical Wellness reneged on the terms of the parties' July agreement to provide drying services for up to 12 million pounds of hemp when it failed to assuage GenCanna's concerns about the company's viability.

GenCanna alleges that it asked Vertical Wellness to pause its drying in November, around the same time that a Kentucky...

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