Good Natured Products Inc. et al (CCAA)

Good Natured Products Inc. and the entities listed in Schedule "A" to its petition obtained protection under the Companies' Creditors Arrangement Act in the Supreme Court of British Columbia on June 28, 2024, court file S-244212, with Alvarez & Marsal Canada Inc. as Monitor. On management's unaudited statements at March 31, 2024, the consolidated group reported total assets of $91,566,000 against total liabilities of $85,711,000, following an audited FY2023 net loss of $15.5 million and a $5.0 million unaudited loss in Q1 FY24. Wells Fargo Capital Finance Corporation Canada holds first-ranking security over group assets for facility obligations of $11.0 million, with mortgages held by TD on the Brampton facility, RBC on Ayr and American Community Bank & Trust on Richmond, Illinois. Trade payables stood at $20,620,000 and convertible debentures at $15,553,000. The Monitor mailed notice to 295 known creditors on July 5, 2024. The proceedings remain active.