2744364 Ontario Limited (o/a True North Cannabis Co.), 2668905 Ontario Limited (o/a Bamboo Blaze) and 2767888 Ontario Inc.
2744364 Ontario Limited (o/a True North Cannabis Co.), 2668905 Ontario Limited (o/a Bamboo Blaze) and 2767888 Ontario Inc. entered CCAA proceedings in Ontario on January 24, 2025 on the application of Vancor, which also served as DIP lender; the file is now closed. Unaudited management balance sheets showed each debtor with liabilities exceeding assets: True North Cannabis, assets of about $15,817,988 against liabilities of about $25,301,507 at November 30, 2024; Bamboo Blaze, $2,727,373 against $3,610,055 at January 19, 2025; and 2767888, $19,208,824 against $20,853,679 at December 31, 2024. The debtors reported eight secured creditors. Firm Capital Mortgage Fund holds 26 mortgages over 2767888's properties securing a March 2022 $10,000,000 facility, with $7,570,000 owing at December 31, 2024. The DIP lender's charge ranks behind Firm Capital's mortgages, the administration charge and the other secured creditors.
The claims bar date has passed — claims were due by
Per the Claims Procedure Notice dated 3 March 2025.
Motion Record of the Applicant dated April 29, 2025, returnable May 1, 2025 — Application / notice of application
A claims procedure was approved, setting a claims bar date of 2025-04-07.
Source: Claims Procedure Notice
A claims procedure was approved, setting a claims bar date of 2025-04-07.
Source: Claims Procedure Order
Motion Record of the Applicant, returnable March 3, 2025, dated February 24, 2025 — Application / notice of application
Motion Record of the Applicants Returnable February 3, 2025, dated January 30, 2025 — Application / notice of application
2744364 Ontario Limited (o/a True North Cannabis Co.), 2668905 Ontario Limited (o/a Bamboo Blaze) and 2767888 Ontario Inc. — CCAA filed, Ontario.
Source: Initial Order
Undated filings1 — no date appears on the document · show
Debtor
2744364 Ontario Limited (o/a True North Cannabis Co.), 2668905 Ontario Limited (o/a Bamboo Blaze) and 2767888 Ontario Inc.
Applicant
The Vancor Group Inc.
Monitor
Deloitte
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Penny | Ontario Superior Court of Justice | 8 orders, Jan 2025 – Mar 2025 | 196 cases on record |
| Justice Dietrich | Ontario Superior Court of Justice | 3 orders, May 2025 – Apr 2026 | 132 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 3 orders, May 2025 | 318 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorDeloitte | Blaney McMurtry LLP | 26 Feb 2025 | Service list · 26 Feb 2025 |
| ApplicantThe Vancor Group Inc. | Miller Thomson LLP | 24 Jan 2025 | Order · 24 Jan 2025 |
| CreditorBank of Montreal | Harrison Pensa LLP | 26 Feb 2025 | Service list · 26 Feb 2025 |
| CreditorGaras Family Holdings Inc | SmithValeriote Law Firm LLP | 26 Feb 2025 | Service list · 26 Feb 2025 |
| CreditorKenneth Schaller | MPG Law Professional Corporation | 26 Feb 2025 | Service list · 26 Feb 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Firm Capital Mortgage Fund Inc. · in 10 cases26 outstanding mortgages on 888's properties (Firm Capital Mortgages) securing a March 2022 $10,000,000 credit facility; general assignment of rents by 888; general security agreement from TNCC (cross-collateralized); GSA/Share Pledge/Assignment of Rents re March 16, 2022 Commitment Letter ($7,556,000) against 888 and TNCC — Loan due May 1, 2025; affidavit states approx. $7.5 million owing as of affidavit date (Jan 23, 2025) - balance sheet figure used as exact dated balance. Personally guaranteed by Vancor (the CCAA Applicant/DIP Lender) and Corry Van Iersel (related parties), plus PICI Inves · as of 31 Dec 2024 | $7.57M | Application Record of the Applicant |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
14 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansUnsecured creditors: a distribution.Under the planFourth Report of the Monitor · 15 May 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | unsecured creditors with Proven Claims | — | of proven claimsconditional | Under the planper the monitor | Fourth Report of the Monitor · 15 May 2025 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
| Monitor's CCAA Termination Certificate | PDF · Subscribers | |
CCAA Termination Order, dated April 29, 2026
| PDF · Subscribers | |
| Monitor's Certificate re: closing | PDF · Subscribers | |
Ancillary Order of Justice Cavanagh re Confidential Appendix
| PDF · Subscribers | |
Approval and Reverse Vesting Order of Justice Cavanagh
| PDF · Subscribers | |
Endorsement of Justice Cavanagh
| PDF · Subscribers | |
Fourth Report of the Monitor
| PDF · Subscribers | |
Endorsement of the Honourable Justice Dietrich
| PDF · Subscribers | |
Stay Extension Order
| PDF · Subscribers | |
| Motion Record of the Applicant dated April 29, 2025, returnable May 1, 2025 | PDF · Subscribers | |
| Third Report of the Monitor | PDF · Subscribers | |
| Proof of Claim Form | PDF · Subscribers | |
Claims Procedure Instruction Letter
| PDF · Subscribers | |
Claims Procedure Notice
| PDF · Subscribers | |
Claims Procedure Order
| PDF · Subscribers | |
Endorsement of the Honourable Justice Penny – dated 2025-03-03
| PDF · Subscribers | |
| Sale and Investment Solicitation Process | PDF · Subscribers | |
Sale and Investment Solicitation Process Order
| PDF · Subscribers | |
| Second Report of the Monitor | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Motion Record of the Applicant, returnable March 3, 2025, dated February 24, 2025 | PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
Endorsement of the Honourable Justice Penny
| PDF · Subscribers | |
| First Report of the Monitor | PDF · Subscribers | |
Factum of the Applicant – dated 2025-01-31
| PDF · Subscribers | |
| Motion Record of the Applicants Returnable February 3, 2025, dated January 30, 2025 | PDF · Subscribers | |
Creditor Listing
| PDF · Subscribers | |
| Creditor Notice | PDF · Subscribers | |
Endorsement of Justice Penny
| PDF · Subscribers | |
| Factum of the Applicant | PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
Reasons of Justice Penny
| PDF · Subscribers | |
Application Record of the Applicant
| PDF · Subscribers | |
Pre-filing Report of the Proposed Monitor
| PDF · Subscribers | |
| Creditors Under $10K | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “2744364 Ontario Limited (o/a True North Cannabis Co.), 2668905 Ontario Limited (o/a Bamboo Blaze) and 2767888 Ontario Inc.” (CCAA), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/2744364-ontario-limited-o-a-true-north-cannabis-co-2668905-ontario-limited-o-a-b