Hockey Hall of Famer Mark Messier said he lost $ 500,000, which he invested in the Destiny Bioscience cannabis company.
According to The Sports Network journalist Rick Westhead, in a lawsuit against CEO Ed Moroz, Messier claims that Destiny Bioscience used his fame to raise $ 30 million in funding.
“Messier’s lawsuit says he is one of the greatest hockey players in history, a former New York Rangers captain, six-time Stanley Cup winner and one of New York’s most celebrities.” His investment and support would help Destiny Bioscience and Frost gain immediate trust. According to a “Personal and Confidential Advisory Agreement” signed on May 31, 2019, Messier was willing to become a Destiny Goodwill Ambassador to help build business relationships with potential partners of the company.
While other Destiny investors were likely taking risks, Messier says he was given a guarantee that he would not lose money after his holding company, Mar-Lyon USA Inc, bought 400,000 Destiny shares at $ 1.25 per share. piece. Messier claims Moroz agreed to give him a personal guarantee and pay him the difference between $ 750,000 and the value of 200,000 Destiny shares as of December 31, 2019. This means that if Destiny’s stock price drops to $ 0, then Messier will likely be paid $ 750,000.
The former hockey player says Destiny was a useless company backed only by Frost’s grandiose promises. Messier’s claims have yet to be proven in court, and Moroz has not filed an objection to the claim. Destiny was outsourced in May 2020 with a debt of $ 42 million. Its assets, including buildings for growing organics and cannabis, are up for sale, “Westhead wrote.