September 17, 2020
Lift & Co. Corp. and Lift & Co. Ltd. (TSX:LIFT), the Toronto, Ontario-based cannabis events and marketing firm behind the "Canadian Cannabis Awards", filed for bankruptcy on September 17, collectively listing approximately $9.8 million in liabilities, including $5.5 million to Gotham Green Fund 1, LP. This filing follows the company's failure to reach a deal with its debt holders regarding the sale of its consumer and trade marketing divisions, the proceeds of which would have been used to grow the company's marketing operations. Currently, the company does not have the working capital necessary to repay the amount owing on its $3.5 million secured convertible debentures or to continue carrying on its business. PwC is the bankruptcy trustee.