- Ward, Peter Strang, and Silvio Serrano are accused of issuing misleading statements while raising capital for company called Canadian Cannabis Corp. Ward was CEO and director of the company, while Strang and Serrano were vice-presidents.
- Among other things, the OSC alleges the three siphoned “more than $3M” off 125 CCC investors, roughly half of them in Ontario. Full allegations are listed here.
Financial Post, Deep Dive
- An initial hearing will occur on September 30.
Citing the industry’s “credibility problem,” James West predicted the scandal would tighten already-strained access to capital.