Ayurcann Holdings Corp. and Ayurcann Inc.
Follow- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- File
- CL-26-00000039-0000
Ayurcann Holdings Corp. and Ayurcann Inc. have been under the Companies' Creditors Arrangement Act since January 30, 2026, on their own application to the Ontario Superior Court of Justice in Court File No. CL-26-00000039-0000, with Alvarez & Marsal Canada Inc. as monitor. The list of creditors filed as of that date, prepared without admission as to liability or quantum, puts the Canada Revenue Agency's claim at $9,539,045 and Health Canada's at $281,621. The largest trade claims listed are $240,023 to One Cannabis Market and $158,918 to Sichenzia Ross Ference Carmel LLP, followed by $59,885 to Uncle Sam's Cannabis and $58,114 to Astro Nova. The stay of proceedings has been extended.
A claims procedure has been established — see the order for deadlines.
Per the Claims Procedure Order dated 1 June 2026.
31 earlier updates, back to 30 January 2026 — subscribers.
Outcome brief
Ayurcann: licences to Emblem, debts to a shell, and one pool for creditors
Emblem Cannabis took the Pickering vape and extract maker through a reverse vesting order at $5,004,200, the sale process's minimum overbid, after stalking horse Auxly declined to bid at auction; on August 26, 2026, Justice Cavanagh consolidated the parent and a 2024 merger shell into one estate, with $2,795,000 held by the Monitor against approximately $19.6 million in filed claims.
Debtor
Ayurcann Holdings Corp. and Ayurcann Inc.
Monitor
Alvarez & Marsal
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Kimmel | Ontario Superior Court of Justice | 4 orders, Jan 2026 – Jun 2026 | 182 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Aug 2026 | 288 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorAlvarez & Marsal | Reconstruct LLP | 28 May 2026 | Service list · 28 May 2026 |
| ApplicantAyurcann Holdings Corp. and Ayurcann Inc. | Bennett Jones LLP | 8 Feb 2026 | Order · 8 Feb 2026 |
| Interim lender | Aird & Berlis LLP | 28 May 2026 | Service list · 28 May 2026 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Canada Revenue Agency · in 926 casesDeemed trust class (CRA indebtedness) — debtor: Ayurcann Holdings Corp. and Ayurcann Inc. · as of 30 Jan 2026 | $9.54M | List of Creditors |
2 transactions · 1 not completed · 1 closed — The Emblem Transaction closedFifth Report of the Monitor · 19 Aug 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Auxly Cannabis Group Inc.Stalking horsesubstantially all of the property, assets, and undertakings of the Applicants including the share interests of their affiliates Ayurcann Holding Corp. and Can Ayurcann Merger Sub Inc. · asset sale · agreement 8 Feb 2026 | Subscribers | Not completed | Fifth Report of the Monitor |
| Emblem Cannabis Corporationthe Purchased Shares · share sale · nominee/assignee: its assignee, if any, under the Purchase Agreement · agreement 31 Mar 2026 | Subscribers | Closed5 Jun 2026outside 15 May 2026 | Fifth Report of the Monitor |
Unsecured creditors: a distribution.EstimatedFifth Report of the Monitor · 19 Aug 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | Unsecured Creditors (consolidated scenario) | — | a distribution | Estimatedper the monitor | Fifth Report of the Monitor · 19 Aug 2026 |
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.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
Endorsement of Justice Cavanagh
| PDF · Subscribers | |
Motion Record of the Monitor
| PDF · Subscribers | |
Order (Distribution and Stay Extension)
| PDF · Subscribers | |
| Factum of the Monitor | PDF · Subscribers | |
Fifth Report of the Monitor
| PDF · Subscribers | |
Claims Procedure Order
| PDF · Subscribers | |
| Instruction Letter for the Claims Procedure | PDF · Subscribers | |
| Motion Record of the Applicants | PDF · Subscribers | |
| Notice Letter for the Claims Procedure | PDF · Subscribers | |
| Notice of Dispute of Revision or Disallowance | PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
Third Amended and Restated Initial Order
| PDF · Subscribers | |
Fourth Report of the Monitor
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Approval and Reverse Vesting Order | PDF · Subscribers | |
| Factum of the Applicants (Motion Returnable April 28, 2026) | PDF · Subscribers | |
Third Report of the Monitor
| PDF · Subscribers | |
| Factum of the Applicants (Motion Returnable February 13, 2026) | PDF · Subscribers | |
| Supplemental Report to the Second Report of the Monitor | PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
| Factum of the Applicants (Motion Returnable February 9, 2026) | PDF · Subscribers | |
Sale Process Approval Order
| PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
| Application Record of the Applicants | PDF · Subscribers | |
Endorsement of Justice Kimmel
| PDF · Subscribers | |
List of Creditors
| PDF · Subscribers | |
| Monitor’s Certificate | PDF · Subscribers | |
| Notice to Creditors | PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
| Factum of the Applicants (CCAA Application) | PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
| Pre-Filing Report of the Proposed Monitor | PDF · Subscribers | |
Second Amended and Restated Initial Order
| 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., “Ayurcann Holdings Corp. and Ayurcann Inc.” (CCAA), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/ayurcann-holdings-corp-and-ayurcann-inc