Humble & Fume Inc. (CSE:HMBL) et al., CCAA

Humble & Fume Inc. (CSE:HMBL) et al., Toronto, Ontario-headquartered cannabis companies, obtained CCAA protection on January 5, listing approximately $12.8 million in liabilities. The companies, which employ 73 people, hold cannabis licences in Alberta and British Columbia and operate their wholesale business from warehouses located in Manitoba and Texas. The CCAA filing follows years of decreased earnings caused by intense competition and oversupply in the cannabis industry, rising interest rates, regulatory costs associated with being publicly traded, among other factors. The companies will use the restructuring process to run a SISP. Deloitte is the monitor. Counsel is Miller Thomson for the companies, Cozen O’Connor for the monitor and BLG for DGC Investment.

By: Dina Milivojevic