Article by Arun Srinivasan, Yahoo Sports
Former Edmonton Oilers and New York Rangers great Mark Messier stated that he lost a $500,000 investment in an Alberta-based cannabis company, TSN’s Rick Westhead reports.
Messier invested in Destiny Bioscience and is now filing a lawsuit against CEO Ed Moroz, alleging that the company used his celebrity status to gain “instant credibility” with other investors.
“Destiny was not a sure thing. Quite the opposite. It was a worthless company propped up by nothing more than Moroz’s grandiose promises,” Messier stated in the lawsuit.
Messier alleges he was granted a personal guarantee that he wouldn’t lose money upon purchasing 125,000 shares at $1.25. However, the business failed miserably and Destiny was placed in receivership in May 2020 after amassing $42 million in debt, with their state-of-the-art facilities in Nisku, Alberta placed for sale.