October 18, 2022

Filing Type:

Company Counsel: MLT Aikins

Trustee: A&M

Trustee Counsel: BDP



SugarBud Craft Growers Corp., Trichome Holdings Corp., and 1800905 Alberta Ltd., a Stavely, Alberta-based group of companies in the cannabis business, had their NOI proceedings continued under the CCAA on October 18. The NOI filing was precipitated by a significant working capital deficit, which made the group unable to pay ongoing obligations as they become due, as well as a demand issued by Connect First Credit Union Ltd. ("CFCU"), the companies’ primary secured lender. The primary purpose for the CCAA conversion is to allow for more flexibility and time for the companies to restructure their affairs, including carrying out the SISP approved in the NOI. A&M was appointed monitor. Counsel is MLT Aikins for the companies, BDP for the monitor and Dentons for CFCU

By Dina Milivojevic