06:31:29 EST Fri 06 Dec 2019
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Hexo Corp
Symbol HEXO
Shares Issued 246,805,520
Close 2019-05-30 C$ 9.05
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Stockhouse sues three advertising clients

2019-05-30 10:01 ET - Street Wire

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by Mike Caswell

Stockhouse Publishing Ltd. has filed three lawsuits in the Provincial Court of British Columbia seeking to collect outstanding advertising fees. It claims that Newstrike Brands Ltd., Vodis Pharmaceuticals Inc. and Redfund Capital Corp. each bought advertising packages, worth as much as $100,000. The companies then failed to pay the entire amounts owing, Stockhouse says.

The allegations are contained in three brief notices of claim that Stockhouse filed on May 24, 2019, in Vancouver. According to Stockhouse, the three defendants each purchased what it calls the "Market Builder Program." The program, as set out in the lawsuits, grants a buyer one year of advertising on the Stockhouse website. Newstrike and Redfund Capital agreed to pay $100,000 each for the program, while Stockhouse does not say exactly what Vodis agreed to pay.

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Vodis, while having great potential with their very soon to be received ACMPR Cultivation Licence, have yet to prove they have the management skills to properly run a successful Cannabis Company. The tiny amount of money that appears to be still owing on their Stockhouse promotion package would be laughable if it did not indicate that no-one apparently was on the ball in their 'front office'. Apart from that, they need to put up a website that doesn't look like something my 3 year old daughter scribbled out on her pre-school pretend laptop - and execute on their promises to post photos etc! None of this makes the company look good. On the contrary, it reflects very badly on their reputation which does nothing to encourage new investors to place their bets on Vodis.

Posted by David Shurvell at 2019-05-31 15:06