It is rare to see companies go public with business gone bad, but that is exactly what Cannafornia Inc. did with Colby Covington.
The California-based cannabis company revealed in a press release that they had parted ways with Covington after he failed to abide by the terms of their sponsorship agreement. Fansided’s Amy Kaplan shared the press release on Twitter.
“Colby and I had become friends, taking trips together to Los Angeles and Jamaica,” Paul King, CEO of Cannafornia, said in the statement. “However without explanation, in December, Colby stopped posting to Instagram and deleted all his prior Cannafornia posts in direct violation of the sponsor agreement.