420 Premium Markets Ltd., 420 Investments Ltd. and Green Rock Cannabis (EC1) Ltd., NOI

420 Premium Markets Ltd., 420 Investments Ltd. and Green Rock Cannabis (EC1) Ltd., Alberta-based cannabis companies, filed an NOI on May 29.

The companies do business under the brand of Four20 Premium Markets, one of the largest cannabis retailers in Alberta with over 30 retail stores in Alberta and recent expansion into Ontario.

As a result of a failed $110 million transaction in 2020 with Tilray Inc., the company initiated litigation, backed by litigation funder Nomos Capital, against Tilray seeking damages of approximately $130 million.

In early 2024, Tilray, through its subsidiary High Park Shops Inc., obtained an approximately $9.8 million judgment against 420 for repayment of a bridge loan and related interest and costs. 420 is currently appealing the judgment.

KSV is the proposal trustee.

Counsel is Stikeman Elliott for 420 and Bennett Jones for the proposal trustee.

By: Dina Milivojevic