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Namaste Technologies Inc

Namaste Technologies says ex-CEO Sean Dollinger is suing the cannabis company

Earlier this week, the company announced that following an investigation by a special committee of the board, Dollinger was fired

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Ex-CEO Sean Dollinger’s suit is now before an Ontario court, according to Namaste

Namaste Technologies Inc (OTCMKTS:NXTTF) (CVE:N) said its former CEO, Sean Dollinger, is suing the company over his departure from the cannabis company.

The Vancouver-based company said Monday in a press release distributed by Cision that the matter is now before the Ontario Superior Court of Justice Commercial List, which handles commercial litigation.

READ: Namaste Technologies says ex-CEO Sean Dollinger is suing the cannabis company

Earlier this week, the company announced that following an investigation by a special committee of the board, Dollinger was terminated as CEO.The company also said it was starting a strategic review to consider alternatives including a sale of Namaste.

Meni Morim was appointed interim CEO.

According to the company, the investigation focused on the sale of Namaste's US subsidiary, Dollinger Enterprises US Inc, and subsequent transactions involving its assets and companies in which Dollinger had an interest. 

"I intend to begin setting the record straight and clearing any misconceptions caused by the inaccurate allegations levelled against me," said Dollinger in a statement issued Tuesday.

Shares fell 3% to US$0.87 in morning OTC Markets trading and lost 4.2% C$1.14 in Canada.

Quick facts: Namaste Technologies Inc

Price: $0.42

Market: TSX-V
Market Cap: $135.13 m
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