Chalice Brands Ltd., CCAA

Chalice Brands Ltd., which, together with its subsidiaries, forms a vertically-integrated corporate group that grow, process, distribute and sell cannabis and cannabis products, obtained CCAA protection on May 23. The Chalice Group primarily operates within the State of Oregon. As a result, concurrent with the commencement of the CCAA proceeding, Chalice commenced receivership proceedings in Oregon. Chalice has debt of over $120 million, including amounts owing to noteholders and secured lenders. The purpose of the restructuring proceedings is to pursue a going-concern sale process. Osler is counsel for the company. KSV was appointed Monitor and is represented by Cassels.

By: Dina Milivojevic