April 1, 2020
James E. Wagner Cultivation Corporation (TSX:JWCA), a Kitchener, Ontario-based licensed cannabis producer focused on producing clean cannabis using a proprietary aeroponic platform called GrowthSTORM, obtained protection under the CCAA on April 1, listing approximately $41.0 million in liabilities. Since its inception, the company has been cash flow negative and has relied on equity and debt financing for funding. The company now requires additional funding after it expended significant resources to expand its cannabis production and processing capacity as part of a strategy to achieve profitability. During the CCAA proceedings, Trichome Financial will be providing DIP financing. KSV was appointed monitor. Counsel is Davies for the monitor, Torys for Trichome, Bennett Jones as the company's insolvency counsel and DLA Piper as the company's corporate counsel.