Like many cannabis producers in the country, Cannara is drinking millions of dollars from tax havens to finance its activities.
In January, media revealed that 40% of the producers authorized by Health Canada, including the Ontario 48 North then administered by Martin Cauchon and Alain Dubuc, funded $ 165 million in tax-rate states. very low in the last two years.
Cannara is no exception to this widespread practice. In the last six months, nearly $ 4.3 million of investments have been traded through tax havens, according to financial documents consulted by the medias .
Cascade of millions
On October 12, nearly $ 2.7 million of the $ 28.5 million invested in Cannara went through these lax jurisdictions.
The money came from the British Virgin Islands ($ 2 million), Monaco ($ 378,000), Malta ($ 151,000), Liechtenstein ($ 90,000) and Gibraltar ($ 50,000).
A few months earlier, on June 21st, a $ 50,000 went through Switzerland.
Just over a week later, it was $ 1.5 million of the $ 8.2 million investment that was coming in through the British Virgin Islands ($ 1 million) and Monaco ($ 500,000).
The two shareholders of Cannara are Javaa Private Equity, a mortgage company registered in the Business Register, managed by Zohar Krivorot and The Zohar Krivorot Family Trust, as well as FV Pharma Inc.
The Directors of Cannara are Zohar Krivorot (CEO), Thomas Fairfull, Founder and CEO of FV Pharma, Alexander Wolfe, Cannara Vice President of Business Development, Besar Xhelili, Lawyer at Manor Law, Charles R. Spector, attorney at Dentons, and Ryer Lennie, president of Miles Capital inc.
The parent company of FV Pharma is called FSD Pharma. It is headquartered in the Queen City and is valued at more than $ 443 million on the Toronto Stock Exchange.
The media has repeatedly tried to have an interview with Cannara’s CEO and CEO, Zohar Krivorot, but declined our requests.