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by Mike Caswell

Yourway Cannabis Brands Inc. is facing a case in the Supreme Court of British Columbia from its chief executive officer, Jacob Cohen, over the company's upcoming annual general meeting. Mr. Cohen says that he intends to nominate his own slate of directors, but the company unfairly refused to allow a vote on his board. He is seeking a court order stating that his nominees are eligible for election.

The request from Mr. Cohen is contained in a petition he filed at the Vancouver courthouse on Wednesday, July 27. Mr. Cohen identifies himself as the CEO, director and a significant shareholder of the company. (Mr. Cohen came to Yourway when it acquired Labronix Inc., also known as Venom Brands, in March, 2020, and became CEO on Oct. 12, 2021. At the time, Yourway called him a "winner" and cheered the "tenacity, drive and natural capabilities" that he brought.)

The dispute, as set out in the petition, arises from the composition of the company's board. At present, it includes Mr. Cohen and five others. Mr. Cohen, however, is attempting to install his own slate of directors, and provided the company with notice to that effect on June 16, 2022. The company held a board meeting two weeks later to consider whether it would put his proposed board to shareholders. According to the petition, the board was evenly split on the matter, voting 3-3. The company's chairman, Jakob Ripshtein, used a tiebreaker vote to go against Mr. Cohen's proposed board.

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