Messier suing Alberta cannabis company CEO after losing $500K: report
Mark Messier must be wondering what he was smoking after investing $500,000 in what he later discovered was a “worthless company.”
The Hall of Famer alleges that he lost his entire investment in Alberta cannabis company Destiny Bioscience, according to a report from TSN’s Rick Westhead, and now he’s suing the company’s CEO Ed Moroz.
According to court records, Messier filed the lawsuit in New York County Courts on November 18 with law firm Paul, Weiss, Rifkind, Wharton and Garrison.
New: Former New York Rangers All-Star Mark Messier alleges he lost a $500K investment in Alberta cannabis company Destiny Bioscience.
Messier says in a lawsuit vs Destiny CEO Ed Moroz that Destiny used his celebrity to raise $30M in funding.— Rick Westhead (@rwesthead) December 15, 2020
According to a “personal and confidential advisory agreement” signed May 31, 2019, Messier was willing to be a “’good will’ ambassador for Destiny…. [helping build] business relationships with potential partners of Destiny…”
— Rick Westhead (@rwesthead) December 15, 2020
Destiny used Messier’s celebrity status to raise $30 million in funding, according to Westhead’s report. Messier was to be a goodwill ambassador to Destiny, but the former NHL star claims he was given a “personal guarantee” that he wouldn’t lose money on the investment.
“Destiny was not a sure thing. Quite the opposite,” Messier says in the lawsuit. “It was a worthless company propped up by nothing more than Moroz’s grandiose promises.”
According to a “personal and confidential advisory agreement” signed May 31, 2019, Messier was willing to be a “’good will’ ambassador for Destiny…. [helping build] business relationships with potential partners of Destiny…”
— Rick Westhead (@rwesthead) December 15, 2020
Messier: “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's claims have not been proven in court and Moroz has not filed a statement of defence.— Rick Westhead (@rwesthead) December 15, 2020
A “science-based cannabis genetics and cultivation inputs research and development company,” Destiny has been in receivership since May 22.
This isn’t the first time Messier has been in the news for a legal dispute. He successfully took the Vancouver Canucks to arbitration and was awarded $6 million in 2012 — 12 years after departing the team. That dispute stemmed from Messier having a clause in his contract that would compensate him if the value of the franchise increased over the life of his contract, which expired in 2002.
Messier retired from pro hockey in 2005 after 25 NHL seasons with the Edmonton Oilers, New York Rangers, and Vancouver Canucks. His 1,887 career points are the third-highest in NHL history, behind only Wayne Gretzky and Jaromir Jagr.
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