Tantalus Labs Ltd., NOI

Tantalus Labs Ltd., a Vancouver, British Columbia-based vertically integrated cannabis business, filed an NOI on June 28. The company’s financial difficulties are primarily due to the systemic issues in the cannabis industry in Canada, including the burdensome regulatory and taxation environment. As a result of the recurring financial losses, Sungrown Mortgage Corporation, the secured creditor, advised the Company that it was no longer prepared to continue its historic forbearance or fund the Company’s losses. EY is the Proposal Trustee, represented by Nathanson, Schachter & Thompson. MLT Aikins is counsel for the company and Dentons is counsel for Sungrown Mortgage Corporation.

By: Dina Milivojevic