#Filing
Approval and Reverse Vesting Order and Stay Extension and Termination Order Application was filed.
Source: Approval and Reverse Vesting Order and Stay Extension and Termination Order Application
CanadaBis Capital Inc., 1998643 Alberta Ltd., Stigma Pharmaceuticals Inc., 2103157 Alberta Ltd., and Full Spectrum Labs Ltd.
FollowActive
- Proceeding
- CCAACompanies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- File
- 2601-07007
Filings held26
Last activity27 Aug 2026
On the record157 days
Secured debt$1.21M
OverviewSummary updated
CanadaBis Capital Inc. and four subsidiaries — 1998643 Alberta Ltd., Stigma Pharmaceuticals Inc., 2103157 Alberta Ltd. and Full Spectrum Labs Ltd. — commenced CCAA proceedings in Alberta on April 17, 2026, reporting combined liabilities of $19,250,525 on an unaudited basis against approximately $1,340,000 of available cash as at April 14, 2026. The largest claim is the Canada Revenue Agency's excise tax exposure of approximately $7,621,000; CRA had demanded $5,732,843 within 14 days by letter dated March 4, 2026, received March 25, and threatened enforcement. Connect First Credit Union Ltd. is owed $3,592,324 on a commercial mortgage maturing July 2026 and $631,587 on a $750,000 line of credit, and has waived a debt service coverage covenant breach outstanding since July 31, 2025 only until July 31, 2026. The applicants recorded a net loss of $835,204 for the year ended July 31, 2025.
Proceedings AIAsk this case — answers cite the filings
Case updates27 dated entries
#Report
The officer filed report no. Third Report. The Applicants continue to operate their cannabis cultivation, processing, and sale business while pursuing a court-approved sale and investment solicitation process (SISP), resulting in a reverse vesting share purchase transaction with 2208318 Alberta Ltd. as Successful Bidder.
Source: Third Report of the Monitor
#Order
The court approved a sale and investment solicitation process. A phase 1 deadline of 2026-07-15. A bid deadline of 2026-08-10.
Source: SISP Notice
#Order
The court approved a sale and investment solicitation process. A phase 1 deadline of 2026-07-15. A bid deadline of 2026-08-10.
Source: SISP Order
#Order
The court approved a sale and investment solicitation process. A phase 1 deadline of 2026-07-15. A bid deadline of 2026-08-10.
#Order
The court approved a sale and investment solicitation process. A phase 1 deadline of 2026-07-15. A bid deadline of 2026-08-10.
Source: SISP Procedures
#Order
CanadaBis Capital Inc., 1998643 Alberta Ltd., Stigma Pharmaceuticals Inc., 2103157 Alberta Ltd., and Full Spectrum Labs Ltd. — CCAA filed, Alberta.
Source: Initial Order
AnalysisAll insights
Case update
CanadaBis: the licence is the asset, so the company is what gets sold
Excise duty ran at 41 to 47 per cent of gross revenue and the CRA wanted $5,732,843 in fourteen days. Four months later the sale process produced one bid, from a company whose director sits on the debtor's own board — and because a cannabis licence cannot be assigned, the deal is structured so the licence never moves.
Parties
Debtor
CanadaBis Capital Inc., 1998643 Alberta Ltd., Stigma Pharmaceuticals Inc., 2103157 Alberta Ltd., and Full Spectrum Labs Ltd.
Monitor
FTI
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Simard | Court of King's Bench of Alberta | 1 order, Aug 2026 | 25 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorFTI | Fasken Martineau DuMoulin LLP | 20 Apr 2026 | Service list · 20 Apr 2026 |
| ApplicantCanadaBis Capital Inc., 1998643 Alberta Ltd., Stigma Pharmaceuticals Inc., 2103157 Alberta Ltd., and Full Spectrum Labs Ltd. | Thornton Grout Finnigan LLP | 20 Apr 2026 | Service list · 20 Apr 2026 |
| CreditorServus Credit Union / Connect First Credit Union | Burnet Duckworth & Palmer LLP | 20 Apr 2026 | Service list · 20 Apr 2026 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (CRA) · in 926 casesOutstanding excise tax liabilities; quasi-governmental deemed-trust class claim. Figure is approximate as stated ("approximately $7,621,000"). A prior CRA Demand letter dated March 4, 2026 (received March 25, 2026) demanded an exact amount of $5,732,843, payable within 14 days; enforcement threatened absent payment arrangement. — debtor: 1998643 Alberta Ltd. ("199") and the Applicants generally · as of 14 Apr 2026 | $7.62M | Originating Application |
| 4 | Secured | 2208318 Alberta Ltd.Secured loan; principal amount $1,168,000 (outstanding balance includes accrued interest) — debtor: CanadaBis Capital Inc. and its subsidiaries (the Applicants) · as of 14 Apr 2026 | $1.21M | Originating Application |
| 4 | Secured | Runway Developments Inc.$650,000 demand loan; security interest not specified in the document — debtor: CanadaBis Capital Inc. and its subsidiaries (the Applicants) · as of 14 Apr 2026 | $652K | Originating Application |
| 4 | Secured | Connect First Credit Union Ltd. · in 8 cases$750,000 Line of Credit facility (drawn amount); same lender/facility grouping as Commercial Mortgage — Line of Credit is substantially drawn; subject to same covenant breach/waiver noted for the Commercial Mortgage. — debtor: CanadaBis Capital Inc. and its subsidiaries (the Applicants) · as of 14 Apr 2026 | $632K | Originating Application |
Sale processAs stated in the filings
Approval pending — Monitor declared the Purchaser the Successful Bidder and recommends Court approval of the Subscription AgreementThird Report of the Monitor · 19 Aug 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 2208318 Alberta Ltd.the Applicants' business and assets, structured by way of a reverse vesting share purchase transaction · share sale · agreement 19 Aug 2026 | SealedPurchase Price described only as 'As set forth in the Confidential Report.' | Proposedoutside 8 Oct 2026 | Third Report of the Monitor |
AdvisorsFTI Consulting Canada Inc. (sale agent)SISP Procedures
Fees and ratesAs stated in the filings
1 engagement · 1 firm — Fasken Martineau DuMoulin LLP, 27 Mar – 16 Aug 2026Third Report of the Monitor · 19 Aug 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Fasken Martineau DuMoulin LLPCounsel to the monitor | 27 Mar – 16 Aug 2026 | — | — | $884stated average | Third Report of the Monitor · 19 Aug 2026 |
Estate financialsReported figures — never derived
Total liabilities at filing$19.3M
As at 15 Apr 2026 · per Applicants' own statement in the Originating Application (unaudited, stated to satisfy CCAA's $5,000,000 statutory threshold) · Combined total liabilities of all Applicants (CanadaBis Capital Inc., 1998643 Alberta Ltd., Stigma Pharmaceuticals Inc., 2103157 Alberta Ltd., and Full Spectrum Labs Ltd.) — Total assets not stated in this document. Applicants had approximately $1,340,000 in available cash as at April 14, 2026, and trade accounts payable and accrued liabilities in excess of approximately $937,000. Applicants recorded a net loss of $835,204 for fiscal year ended July 31, 2025, and a further net loss of approximately $128,539 for the three-month period ended October 31, 2025.
Professional fees to date
$572K
As at 19 Aug 2026Third Report of the Monitor
Documents
26 filings
| Date | Document | File |
|---|---|---|
| Approval and Reverse Vesting Order | ||
| First Affidavit of Dannallyn Salita | ||
Approval and Reverse Vesting Order and Stay Extension and Termination Order Application
| ||
| First Affidavit of Jeffrey Holmgren | ||
Third Report of the Monitor
| ||
SISP Notice
| ||
SISP Order
| ||
SISP Procedures
| ||
Second Amended and Restated Initial Order
| ||
Second Report of the Monitor
| ||
| Bench Brief of the Applicants | ||
| Book of Authorities | ||
SISP Order and Second ARIO Application
| ||
| Second Affidavit of Travis McIntyre | ||
Amended and Restated Initial Order
| ||
Bench Brief - Amended and Restated Initial Order
| ||
| First Report of the Monitor | ||
Application - Amended and Restated Initial Order
| ||
Service List
| ||
Affidavit of Travis McIntyre
| ||
| CCAA FAQs | ||
Initial Order
| ||
| List of Known Creditors | ||
| Notice to Creditors | ||
Originating Application
| ||
Pre-Filing Report of the Proposed Monitor
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “CanadaBis Capital Inc., 1998643 Alberta Ltd., Stigma Pharmaceuticals Inc., 2103157 Alberta Ltd., and Full Spectrum Labs Ltd.” (CCAA), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/canadabis-capital-inc-1998643-alberta-ltd-stigma-pharmaceuticals-inc-2103157-alb