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by Mike Caswell
A dispute over a stock option potentially worth about $800,000 has landed in the Supreme Court of British Columbia. A privately held entity claims that it is entitled to an option to acquire 830,000 shares of Emerald Health Therapeutics Inc., a medical marijuana hopeful. According to the suit, the option was part of a finder's fee arrangement.
The allegations are contained in a brief notice of claim filed at the Vancouver courthouse on Nov. 30, 2016, by Jescorp Capital Inc. The defendants are Emerald Health chief executive officer Bin Huang and Victoria resident Renee Gagnon. The lawsuit does not name Emerald Health itself as a defendant.
The option in question, as described by Jescorp, arose out of a May, 2015, transaction in which it acted as a finder. Jescorp says little about the deal, other than to identify it as one involving a company named Medna Biosciences Inc. (In May, 2015, Medna acquired 20.15 million shares of an Emerald predecessor.) For its assistance in completing the deal, Jescorp received the option, which came from Ms. Huang personally, the suit claims. It was valid until Dec. 31, 2018.
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