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.