Lender Says Cannabis Farm Breached $4 Million Loan Agreement

By Katryna Perera (April 28, 2022, 4:44 p.m. EDT) – Pure Harvest Corporate Group Inc., a Colorado-based cannabis farm, was sued in federal court in Wyoming on Wednesday by a lender alleging the farm violated the terms of a A line of credit of $4 million that it contracted.

PH Invesco LLC filed a lawsuit against Pure Harvest and its subsidiary Sofa King Medicinal Wellness Products LLC, Pure Harvest CEO Matthew Gregarek, several other individual defendants and Cornbuck-Aurora LLC. The complaint refers to the other individual defendants — besides Gregarek — and Cornbuck as unsecured lenders.

PH Invesco says that in August 2020, it entered into a commercial loan and guarantee agreement…

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