CEO of DionyMed cannabis company leaves amid possible default

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Toronto-based DionyMed, a multistate marijuana brands operator, is under pressure after key executives stepped down amid a possible credit default.

CEO Edward Fields and Mark Zinselmeier, the chief operating officer, resigned from the company, which has businesses in states including California and Nevada.

DionyMed received a notice of default under an existing credit agreement demanding immediate payment of $24.8 million plus any additional interest, fees and expenses.

In March, DionyMed agreed to buy a Los Angeles cannabis campus complex for $19 million.

The company also has been involved in protracted lawsuit disputes with delivery company Eaze Solutions.

DionyMed trades on the Canadian Securities Exchange as DYME.

For more on the company’s credit default risk, click here.

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