Stewart’s Vertical Farms Inc., NOI

Stewart’s Vertical Farms Inc., a wellness-focused cannabis company that primarily produces wellness products that provide relief from health challenges including anxiety, inflammation, muscle pain, and skin conditions, filed an NOI on June 27, listing approximately $8 million in liabilities.

The company distributes its products through medical platforms and provincial recreational channels. Its distribution channels include a presence in Ontario, Alberta, British Columbia, New Brunswick, Manitoba, Nova Scotia, Yukon, as well as an international presence in the Australian market.

Stewart’s Vertical Farms began experiencing liquidity issues in 2019 when a shareholder decided not to advance $5 million under a binding liquidity agreement. This precipitated a series of financial challenges which were exacerbated when the company failed to maintain excise tax payments to CRA, which notified the company that its cannabis license would be revoked effective June 30, 2025. As a result, the company filed the NOI.

Grant Thornton is the proposal trustee.

Counsel is Reconstruct for Stewart’s Vertical Farms and TGF for the proposal trustee.