Radient Technologies (RDDTF)

[BlueGreenPower]

Deep dive on the Aurora / Radient partnership...

‘It’s Easier to Sell a Dream Than Reality’: Inside Canada’s Cannabis Crash

In an email from his public-relations agency, Terry Booth refuted the claims of the class-action suit and pointed to a motion to dismiss the lawsuit, which has been filed on several grounds. Aurora’s legal team says that the lawsuit is generally deficient, its allegations are based solely on hindsight and it should be struck out. The motion contends, among other things, that the claims related to Radient are purely speculative, the plaintiffs fail to allege facts that support any evidence of a round-trip transaction and there is nothing unusual about a sell-and-hold transaction—in this case, where the product sold to Radient (biomass) was different from the product purchased from Radient (extract).

Radient, which is not a defendant in the suit, did not respond to my requests for comment. According to corporate documents from 2020, “Aurora ceased to have significant influence over the Company [Radient] as a result of no longer having a director on the Company board and their ownership dropping below 10 per cent of the Company and therefore were no longer considered a related party to the Company.”

https://www.canadianbusiness.com/ideas/canada-cannabis-stocks-crashing/

The headline for me is Radient is not a defendant in the suit. This is all water under the bridge now, but still a interesting snapshot of the hype and excesses of the time. The former Radient insider sounds like she's relieved to be out of the cannabis business, but still rooting for Radient to succeed in its present form. I'm rooting for Radient too :) glta

Hey SG, Congrats on the gain. I'll keep updating what I find. good luck :)