Toronto-based Golden Leaf Holdings announced it won’t pursue a $125 million merger with Terra Tech, a vertically integrated multistate marijuana company that was faces a lawsuit alleging theft, stock manipulation and filing false reports.
Golden Leaf and California-based Terra Tech had previously signed a nonbinding letter of intent to merge.
The deal, subject to a number of conditions, would have given Terra Tech access to the Canadian market.
Golden Leaf did not disclose its reasons for pulling back from the deal,
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