Hempsana Inc.
- Proceeding
- NOIBANKRUPTCY AND INSOLVENCY ACT, R.S.C., 1985, C. B-3, AS AMENDED
- File
- BK-24-03054351-0031
- Industry
- Cannabis · Cannabis producers
Hempsana Inc. filed a notice of intention to make a proposal under the Bankruptcy and Insolvency Act on March 11, 2024, with B. Riley Farber Inc. as Proposal Trustee, in the Ontario Superior Court of Justice (in Bankruptcy & Insolvency) (Commercial List) under court file BK-24-03054351-0031. A DIP term sheet dated the same day sets a facility limit of CAD 500,000 from related party Movengo Developments Inc., secured by a senior secured super-priority DIP Charge over all present and future property, assets, rights and undertaking of the borrower, ranking behind a court-ordered Administration Charge of up to CAD 200,000 for the Proposal Trustee, its counsel and the borrower's counsel, and ahead of other security interests, claims and deemed trusts. DIP Loan proceeds are intended to pay out the existing first mortgage on the company's real property in full. The proceeding remains active.
Application filed April 8, 2024 in the Ontario Superior Court of Justice under the existing insolvency file.
Source: Supplementary Motion Record f Hempsana Inc. – returnable April 9, 2024
Motion Record of Hempsana Inc. – returnable April 9, 2024 — Application / notice of application
Certificate of Filing of a Notice of Intention to Make a Proposal — NOI certificate of filing
Undated filings1 — no date appears on the document · show
Debtor
Hempsana Inc.
Proposal trustee
B. Riley Farber
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Apr 2024 | 318 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorHempsana Inc. | Fogler, Rubinoff LLP | 9 Apr 2024 | Order · 9 Apr 2024 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Movengo Developments Inc. (DIP Lender)as of DIP Term Sheet dated March 11, 2024 — Senior secured super-priority DIP Charge over all present and future property, assets, rights and undertaking of the Borrower (the Collateral), ranking behind the Administration Charge but ahead of other security interests, claims and deemed trusts — Facility limit (maximum amount of DIP Loan), not an outstanding balance; related-party/DIP financing arrangement — debtor: Hempsana Inc. | $500K | First Report of the Proposal Trustee |
| Secured | |||
| Secured |
2 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale process approved — the SISP, in relation to all of Hempsana's current and future assets, undertakings and properties of every nature and kind whatsoever and wherever situate... is approvedOrder of Justice Cavanagh · 9 Apr 2024
Unsecured creditors: a distribution. Malvin Mana paid in full.EstimatedTrustee’s Preliminary Report
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Malvin Mana | — | paid in full | Finalper the trustee | Trustee’s Preliminary Report |
| Unsecured | — | — | a distributionconditional | Estimatedper the trustee | Trustee’s Preliminary Report |
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.
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Newspaper Adv
| PDF · Subscribers | |
| Affidavit of Mailing | PDF · Subscribers | |
Creditors Package
| PDF · Subscribers | |
| Certificate of Assignment | PDF · Subscribers | |
Bidding Procedures
| PDF · Subscribers | |
Endorsement of Justice Cavanagh
| PDF · Subscribers | |
Order of Justice Cavanagh
| PDF · Subscribers | |
| Supplementary Factum of Hempsana Inc. | PDF · Subscribers | |
Supplementary Motion Record f Hempsana Inc. – returnable April 9, 2024
| PDF · Subscribers | |
First Report of the Proposal Trustee
| PDF · Subscribers | |
Motion Record of Hempsana Inc. – returnable April 9, 2024
| PDF · Subscribers | |
| Certificate of Filing of a Notice of Intention to Make a Proposal | PDF · Subscribers | |
Opportunity Teaser
| PDF · Subscribers | |
Trustee’s Preliminary Report
| 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., “Hempsana Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/hempsana-inc