Great Panther Mining Limited (TSX:GPR)

Great Panther Mining Limited (TSX:GPR), a precious metals producer focused on the operation of the Tucano Gold Mine in Brazil, filed an NOI on September 6, listing approximately $17.9 million in liabilities, including approximately $17.1 million to Asahi Refining Canada Limited. The following day, the company also filed a judicial reorganization proceeding in the Brazil. The filing was precipitated by, among other things, Inflationary pressures significantly impacting costs, operational challenges, the necessary acceleration of certain capital programs, and contractor mobilization delays because of equipment availability issues, all of which led the company to forecast that it would likely default on several material agreements. A&M is the proposal trustee. By Dina Milivojevic

Medipure Pharmaceuticals Inc. and Medipure Holdings Inc.

Medipure Pharmaceuticals Inc. and Medipure Holdings Inc., Vancouver, British Columbia-based biopharmaceutical companies, had their NOI proceedings continued under the CCAA on August 19. Due to funding issues in the NOI proceedings, the companies had incurred various post-filing arrears, including an estimated $305,000 owed to legal counsel to the company. This resulted in a material adverse change, and it appeared as though the companies may face bankruptcy. However, they were able to locate a new DIP lender, Wealth Management Experts Inc. ("WMEI"), and obtained CCAA protection. WMEI has provided $3.0 million in funds, which are being held in trust. These funds are expected to be sufficient to cover the $792,000 in post-filing arrears owing to employees, creditors and professionals in connection with the NOI proceedings, along with the estimated disbursements to October 28, leaving an estimated $592,000 for professional fees associated with the CCAA proceedings. Deloitte was appointed monitor. Counsel is Boughton Law for the companies and Clark Wilson for the monitor. By Dina Milivojevic

Trevali Mining Corporation and Trevali Mining (New Brunswick) Ltd.

Trevali Mining Corporation and Trevali Mining (New Brunswick) Ltd., base-metals mining companies focused on the exploration, development, operation, and optimization of mining properties in Canada, Burkina Faso, and Namibia, obtained CCAA protection on August 19. Trevali has seen a drastic deterioration of its financial situation in 2022, including because of a tragic flooding event at its Perkoa Mine in Burkina Faso, which resulted in the loss of eight lives, and material challenges at the Caribou Mine in New Brunswick. Apart from the tragic loss of human life, the Perkoa Mine flood has significantly impacted Trevali's financial health in the second quarter of 2022, including, among other things, (1) the need to incur more than $25 million of direct and indirect costs related to dewatering efforts, infrastructure refurbishment, and construction linked to repairs and rehabilitation; and (2) the cessation of all operations at the Perkoa Mine for more than four months. In addition, the production performance at the Caribou Mine has been significantly impacted following continued operational issues due to low equipment availability and productivity rates with a mining contractor. FTI was appointed monitor. Counsel is Blakes for the companies, Dentons for the monitor, Fasken for BNS, McCarthy Tétrault for Glencore International AG et al., KND Complex Litigation for an ad hoc committee of shareholders, Koskie Glavin Gordon for the union at the Caribou Mine and Cassels for Trevali's directors. By Dina Milivojevic

GetSwift Technologies Limited

GetSwift Technologies Limited, a British Columbia holding company, and Get Swift, Inc. ("GSI"), its wholly-owned Delaware subsidiary, had their Chapter 11 proceedings recognized under the CCAA on August 18. The companies are a leading provider of last mile SaaS logistics technology and services. They began to explore capitalization options in early 2021, after a period of financial difficulty caused by class action lawsuits and a regulatory proceeding involving a non-debtor Australian subsidiary. In May 2022, the company announced it had signed an LOI with Stage Equity Partners, LLC (“Stage”) to acquire substantially all of the software assets of GSI. At the last minute, the bridge financing partner for Stage pulled out of the financing deal and, as a result, the companies decided to pursue the sale while under creditor protection. Grant Thornton was appointed information officer. Counsel Moncur Mowbray LLP for the information officer and Miller Thomson for the companies. By Dina Milivojevic

Cedar Road Bioenergy Inc.

Cedar Road Bioenergy Inc., a Nanaimo, British Columbia-based clean energy company, was placed in receivership on August 4, on application by Vancouver City Savings Credit Union. In 2005, the company entered into a development agreement with the Regional District of Nanaimo pursuant to which the company was permitted to construct and operate a facility to harvest methane gas, convert it to electricity which was ultimately sold to third parties including BC Hydro. The company's business was interrupted by labour shortages and material and equipment servicing delays in early 2020 due to the Covid-19 outbreak. Parts and servicing required for each of the company's two generators are not currently available due to supply chain delays. The company defaulted on its loan to Vancouver City Savings Credit Union and was unable to repay the loan following the expiry of the demand letters. D. Manning & Associates was appointed receiver. Counsel is Owen Bird Law Corporation for Vancouver City Savings Credit Union. By Dina Milivojevic

Speakeasy Cannabis Club Ltd. (CSE:EASY) and its wholly-owned subsidiary 10161233 Canada Ltd.

Speakeasy Cannabis Club Ltd. (CSE:EASY) and its wholly-owned subsidiary 10161233 Canada Ltd., cannabis companies based in Rock Creek, British Columbia, were granted CCAA protection on July 27. The companies are currently in a liquidity crisis. In May 2021, they entered into an exclusive sales agreement with Decibel Cannabis Company Inc. pursuant to which all of the companies’ sales would be made to Decibel for six months, with 25% of the purchase price being paid on delivery and the remaining 75% being paid 90 days later. In August 2021, Decibel experienced financial difficulties, resulting in product having been delivered but 75% of the purchase price remaining unpaid. In addition, the companies' secured lenders, who were expected to convert their secured loans into equity and become shareholders of the companies, instead sought repayments of the secured loans in cash. Crowe MacKay was appointed monitor. Counsel is Clark Wilson for the companies and Dentons for the monitor. By Dina Milivojevic

Speakeasy Cannabis Club Ltd. (CSE:EASY) and its wholly-owned subsidiary 10161233 Canada Ltd.

Speakeasy Cannabis Club Ltd. (CSE:EASY) and its wholly-owned subsidiary 10161233 Canada Ltd., cannabis companies based in Rock Creek, British Columbia, were granted CCAA protection on July 27. The companies are currently in a liquidity crisis. In May 2021, they entered into an exclusive sales agreement with Decibel Cannabis Company Inc. pursuant to which all of the companies’ sales would be made to Decibel for six months, with 25% of the purchase price being paid on delivery and the remaining 75% being paid 90 days later. In August 2021, Decibel experienced financial difficulties, resulting in product having been delivered but 75% of the purchase price remaining unpaid. In addition, the companies' secured lenders, who were expected to convert their secured loans into equity and become shareholders of the companies, instead sought repayments of the secured loans in cash. Crowe MacKay was appointed monitor. Counsel is Clark Wilson for the companies and Dentons for the monitor. By Dina Milivojevic

Voyager Digital Ltd. (TSX:VOYG)

Voyager Digital Ltd. (TSX:VOYG), a publicly-traded cryptocurrency platform, had its Chapter 11 proceedings recognized under the CCAA on July 12. The company is incorporated and has its registered office at a law firm in British Columbia. Its subsidiaries in the US operate a cryptocurrency brokerage and custodial and lending services. The company maintains that the centre of its main interests is in the US. The company's request for a recognition order was unopposed, save and except with respect to the question of whether the Chapter 11 proceedings are foreign main or non-main proceedings. Certain investors and a proposed representative plaintiff in a recently commenced proposed class action in Ontario each advised that they required some additional time to formulate their position and file submissions on the issue, so the Court's determination on this question was adjourned to July 19. A&M was appointed information officer. Counsel is Fasken for the company, Aird & Berlis for certain investors, Siskinds for the proposed representative plaintiff and Blakes for the information officer. By Dina Milivojevic

Premium Comfort Heating & Air Conditioning Ltd

Premium Comfort Heating & Air Conditioning Ltd., a Kelowna, British Columbia-based HVAC company, was placed in receivership on June 15 by National Bank of Canada, owed approximately $2.1 million. In late 2019, National Bank made certain credit facilities available to the company. In 2022, the company defaulted on its working capital ratio and reporting requirements under the credit agreement, and the parties began negotiating a forbearance agreement. However, on June 10, the company advised National Bank that it was shutting down operations effective immediately. The company later advised National Bank that some of the company's employees and suppliers were taking assets off the business premises. While National Bank engaged a bailiff to change the locks and move certain mobile assets to a secure location, because the premises were vacant and assets remained on and around the premises, National Bank was concerned that the property’s value may be impaired due to neglect, looting and vandalism. FTI was appointed receiver. Counsel is Faskens for National Bank and Blakes for the receiver. By Dina Milivojevic

Zenabis Global Inc. & al. (the “Zenabis Group”)

Zenabis Global Inc. & al. (the "Zenabis Group"), a medical and recreational cannabis cultivator which up until recently licensed approximately 1 million square feet of cultivation space in Atholville, New Brunswick, Stellarton, Nova Scotia, and Langley, British Columbia, obtained CCAA protection on June 17. The Zenabis Group was previously a publicly traded company on the TSX. On June 1, 2021, the Zenabis Group was acquired by Hexo Corp., which has been supporting the Zenabis Group's financial losses and providing operational and other support since that time. The Zenabis Group has consistently produced negative cash flows due to a variety of factors, including market pressures caused by the fragmentation of the overall cannabis industry and the resulting downwards pressure on margins and general operational and financial underperformance by the group. These factors were compounded by the financial pressures resulting from the group's obligations to its creditors, including its first ranking secured creditor, 2657408 Ontario Inc. The restructuring plan of the group will involve, among other things, the monetization of the current cannabis inventory of the Zenabis Group and the implementation of a SISP for the Atholville and Stellarton facilities. EY was appointed monitor. Counsel is Norton Rose for the Zenabis Group, Osler for the monitor and McCarthy Tétrault for the senior secured creditor. By Dina Milivojevic