CWNevada and NuVeda were found in breach of contract
4Front Advisors, part of the Arizona-based multistate marijuana firm 4Front Holdings, won an $8.7 million arbitration award against Nevada-based CWNevada and NuVeda for breach of contract in failing to pay fees for services provided.
Kris Krane, 4Front Holdings’ co-founder and president, told Marijuana Business Daily the award validates 4Front Advisors’ work in helping the two companies secure cannabis licenses.
Krane noted that in the early days of the cannabis industry – when capital was extremely hard to raise – consultants often helped clients win licenses and get operational for a small fee and then a percentage of the licensees’ future revenues for a period of time.
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