2368523 Ontario Limited (dba Curative Cannabis)

2368523 Ontario Limited, operating as Curative Cannabis, has been under court-appointed receivership since September 19, 2019, when the Ontario Superior Court of Justice (Commercial List) appointed A. Farber & Partners Inc. as receiver and manager on the application of Auxly Cannabis Group Inc., under section 243(1) of the Bankruptcy and Insolvency Act, section 101 of the Courts of Justice Act and section 67(1)(e) of the Personal Property Security Act. Auxly, a 24% shareholder and party to a Cannabis Supply Agreement with the debtor, was owed over $17 million as at October 2, 2019 under an Amended and Restated Secured Promissory Note dated April 23, 2019, its $18.0 million principal raised to $21 million under a Forbearance Agreement dated October 10, 2019, supported by limited recourse guarantees from Shpilt and Fitzgerald and a Share Collateral pledge. A November 2019 order vested the Share Collateral in Auxly, discharging the interests of the debtor, Shpilt and Fitzgerald. The receivership remains active under court file CV-19-627308-00CL.