CannMart Labs Inc.
Follow- Proceeding
- CCAACCAA
- File
- BK-24-03063478-0031
CannMart Labs Inc. filed a notice of intention to make a proposal under s. 50.4 of the Bankruptcy and Insolvency Act on April 3, 2024, in the Ontario Superior Court of Justice at Toronto under court file BK-24-03063478-0031. A list of creditors prepared as of May 2, 2024, without admission as to liability or quantum, showed a single secured claim of CAD 10,406,076.14 owing to Lifeist Wellness Inc., a CAD 4,165,726.46 deemed trust class claim by the Canada Revenue Agency, and unsecured claims of CAD 8,679,941.03 by related party CannMart Inc. and CAD 912,735.55 by Adastra Labs Inc., alongside Namaste MD at CAD 65,155.43 and a tail of smaller trade accounts. The proceeding is closed.
16 earlier updates, back to 2 May 2024 — subscribers.
Debtor
CannMart Labs Inc.
Monitor
msi Spergel inc.
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Black | Ontario Superior Court of Justice | 3 orders, Jul 2024 | 176 cases on record |
| Justice Penny | Ontario Superior Court of Justice | 3 orders, May 2024 | 179 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Monitormsi Spergel inc. | Reconstruct LLP | 30 Apr 2024 | Service list · 30 Apr 2024 |
| ApplicantCannMart Labs Inc. | Thornton Grout Finnigan LLP | 30 Apr 2024 | Order · 16 Jul 2024 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Lifeist Wellness Inc. · in 2 casesType of security not specified in list; Lifeist Wellness Inc. shares registered address with CannMart entities, suggesting possible related-party/parent relationship - not confirmed by document. — debtor: CannMart Labs Inc. · as of 2 May 2024 | $10.4M | CannMart Labs Inc. CCAA - Creditor Listing |
Closed · the record states no distribution outcome.
1 engagement · 1 firm — Reconstruct LLP, 22 Apr – 11 Jul 2024Second Report of the Monitor · 12 Jul 2024
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Reconstruct LLPCounsel to the monitor | 22 Apr – 11 Jul 2024 | ••• | ••• | ••• | Second Report of the Monitor · 12 Jul 2024 |
| Date | Document | File |
|---|---|---|
Approval and Reverse Vesting Order July 16, 2024
| PDF · Subscribers | |
Endorsement of The Honourable Justice Black date July 16, 2024
| PDF · Subscribers | |
Stay Extension and CCAA Termination Order July 16, 2024
| PDF · Subscribers | |
| Factum of CannMart Labs Inc. dated July 14, 2024 | PDF · Subscribers | |
Second Report of the Monitor dated July 12, 2024
| PDF · Subscribers | |
| Motion Record of CannMart Labs Inc. dated July 10, 2024 | PDF · Subscribers | |
| SISP - Teaser Document May 10, 2024 | PDF · Subscribers | |
| CannMart Labs Inc. CCAA - Notice to Creditors | PDF · Subscribers | |
CannMart Labs Inc. CCAA - Creditor Listing
| PDF · Subscribers | |
Endorsement of The Honourable Justice Penny dated May 2, 2024
| PDF · Subscribers | |
Initial CCAA Order dated May 2, 2024
| PDF · Subscribers | |
| Letter from Canada Revenue Agency dated May 2, 2024 | PDF · Subscribers | |
SISP Order dated May 2, 2024
| PDF · Subscribers | |
Factum of CannMart Labs Inc. dated April 30, 2024
| PDF · Subscribers | |
| First Report of the Proposal Trustee and the Proposed Monitor dated April 30, 2024 | PDF · Subscribers | |
Service List as at April 30, 2024
| PDF · Subscribers | |
Motion Record of CannMart Labs Inc. dated April 26, 2024
| PDF · Subscribers | |
| Certificate of Filing | PDF · Subscribers | |
| Sale and Investment Solicitation Process | 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., “CannMart Labs Inc.” (CCAA), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/cannmart-labs-inc