Mark Messier Suing Pot Company CEO for Squandering $500K Investment

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Mark Messier is suing Ed Moroz, the CEO of the Canada marijuana company Destiny Bioscience, for half a million dollars. Messier alleges that Moroz personally guaranteed him that this would be a risk-free investment. In addition to investing the money, Messier was apparently a “goodwill ambassador” for the firm, which helped them raise $30 million in additional money.

Most of the details, which are shared below in a Twitter thread by Canadian journalist Rick Westhead, are relatively straightforward in terms of how celebrity investments and endorsements can take a wrong turn. What is wild about it is that cannabis is such a booming industry that losing tens of million dollars — the company was put in receivership with $42 million in debt — is mind boggling.

Here is the thread with the pertinent details:

Still hard to reckon with losing that much money when marijuana stock valuations are skyrocketing. It’s almost like losing double.

Written by Ryan Glasspiegel

Ryan Glasspiegel grew up in Connecticut, graduated from University of Wisconsin-Madison, and lives in Chicago. Before OutKick, he wrote for Sports Illustrated and The Big Lead. He enjoys expensive bourbon and cheap beer.


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