JointCraft Inc.
- Proceeding
- NOIsection 50.4(1) of the Bankruptcy and Insolvency Act
- File
- BK-26-003318323-0031
- Industry
- Cannabis · Cannabis producers
JointCraft Inc. filed a notice of intention to make a proposal under section 50.4 of the BIA on January 9, 2026 in Ontario, and the proceeding remains active. Management estimates total liabilities of approximately $10.2 million, with no total assets figure stated: approximately $3.5 million on a secured First Promissory Note and $650,000 on a secured Second Promissory Note, both owing to related-party lender 1158667 Ontario Inc., and approximately $6.1 million unsecured, of which approximately $4.7 million is owed to shareholders on unsecured loans. The Second Promissory Note matured March 31, 2025 and was in default; 115 Ontario delivered a demand for repayment of the entire secured indebtedness and a section 244(1) notice on December 30, 2025. The Proposal Trustee had not obtained an independent security opinion as of its First Report. Motif Labs Ltd., holding a PPSA registration limited to input materials, has given notice it will not renew and will send no further input materials, and none are held at the Vaughan facility.
A claims procedure has been established — see the order for deadlines.
The officer filed report no. Third Report of the Proposal Trustee. The Company continues to operate its cannabis contract manufacturing business as a going concern while implementing the Court-approved SISP; it selected 115 Ontario's credit bid as the Successful Bid, and seeks approval of a reverse vesting transaction and a 45-day stay extension to close the transaction.
Source: Third Report of the Proposal Trustee (March 25, 2026)
Notice to Creditors - Notice of Motion to Approve Reverse Sale Transaction — Application / notice of application
The court approved a sale and investment solicitation process. A bid deadline of 2026-03-13.
Source: SISP Order (February 17, 2026)
The court approved a sale and investment solicitation process. A bid deadline of 2026-03-13.
Source: SISP Process
Extension and DIP Approval Order (February 17, 2026) was filed.
Source: Extension and DIP Approval Order (February 17, 2026)
The officer filed report no. Supplement to the Second Report of the Proposal Trustee. The Company, a licensed cannabis contract manufacturer, is exceedingly short on liquidity and does not have sufficient cash to continue operations without approval of the Revised DIP Term Sheet; absent DIP financing it would be forced to immediately wind down operations.
Source: Supplement to the Second Report dated February 16, 2026
Redline - Revised Draft SISP Order February 16, 2026 to Draft SISP Order Served February 10, 2026 — Sale process approval order
The officer filed report no. Second Report. JointCraft continues to operate as a licensed cannabis contract manufacturer during the NOI proceedings while pursuing DIP financing and a sale and investment solicitation process (SISP), with a stalking horse bid from its secured lender 115 Ontario as a fallback going-concern option.
Source: Second Report of the Proposal Trustee (February 11, 2026)
Motion Record, returnable February 13, 2026 (February 10, 2026) — Application / notice of application
Undated filings1 — no date appears on the document · show
Debtor
JointCraft Inc.
Proposal trustee
Harris & Partners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dietrich | Ontario Superior Court of Justice | 7 orders, Feb 2026 | 132 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Mar 2026 | 245 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeHarris & Partners | Thornton Grout Finnigan LLP | 25 Mar 2026 | Service list · 25 Mar 2026 |
| DebtorJointCraft Inc. | McCarthy Tétrault LLP | 9 Feb 2026 | Order · 13 Feb 2026 |
| CreditorSumeet (Sonu) Dhanju-Dhillon | Torkin Manes LLP | 25 Mar 2026 | Service list · 25 Mar 2026 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | 1158667 Ontario Ltd. ("115 Ontario")General Security Agreement dated October 10, 2024 - first ranking general and continuing security interest over all present and after-acquired property, assets and undertaking (First Promissory Note, principal CAD$3,500,000.00 dated October 10, 2024) — Related-party lender and eventual Stalking Horse/DIP Lender. Stated as 'approximately $3.5 million, plus all accrued and accruing interest' in affidavit; note itself sets principal at exactly $3,500,000.00 with interest accruing at 9% per annum from April 1, 2023 (accrued interest of $373,228.63 as of the note's October 10, 2024 date); matures O · as of 9 Jan 2026 | $3.5M | Motion Record, returnable February 13, 2026 (February 10, 2026) |
| Secured | |||
| Secured | |||
| Secured |
3 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansSale approved — The Court approved the Subscription Agreement and Transactions with 1158667 Ontario LimitedApproval and Reverse Vesting Order (March 27, 2026) · 27 Mar 2026
Stalking horse
1158667 Ontario Limited · Subscribers
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1158667 Ontario Limitedthe Subscribed Shares, which shall represent 100% of the issued and outstanding shares in the capital of the Company · share subscription · ResidualCo: 1583178 B.C. Ltd. · agreement 25 Mar 2026 | Subscribers | Closed7 Apr 2026outside 3 Apr 2026 | Proposal Trustee’s Certificate (April 7, 2026) |
Unsecured creditors: no distribution.EstimatedTrustee’s Preliminary Report · 4 May 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee’s Preliminary Report · 4 May 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.
As at ·
Cash on hand
$198K
As at 14 Mar 2026Third Report of the Proposal Trustee (March 25, 2026)
Professional fees
As at
1 more reported figure, and the total the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Trustee’s Preliminary Report
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Proposal Trustee’s Certificate (April 7, 2026)
| PDF · Subscribers | |
| First Amending Agreement (April 6, 2026) | PDF · Subscribers | |
Approval and Reverse Vesting Order (March 27, 2026)
| PDF · Subscribers | |
Endorsement (March 27, 2026)
| PDF · Subscribers | |
| Factum of JointCraft Inc., returnable March 27, 2026 | PDF · Subscribers | |
| Motion Record, returnable March 27, 2026 | PDF · Subscribers | |
Notice to Creditors - Notice of Motion to Approve Reverse Sale Transaction
| PDF · Subscribers | |
Service List (March 25 2026)
| PDF · Subscribers | |
Third Report of the Proposal Trustee (March 25, 2026)
| PDF · Subscribers | |
Endorsement (February 17, 2026)
| PDF · Subscribers | |
Extension and DIP Approval Order (February 17, 2026)
| PDF · Subscribers | |
Notice of SISP
| PDF · Subscribers | |
SISP Order (February 17, 2026)
| PDF · Subscribers | |
SISP Process
| PDF · Subscribers | |
Teaser
| PDF · Subscribers | |
Affidavit of Meena Alnajar (sworn February 16, 2026)
| PDF · Subscribers | |
Redline - Revised Draft Extension and DIP Approval Order February 16, 2026 to Draft Extension and DIP Approval Order Served February 13, 2026
| PDF · Subscribers | |
| Redline - Revised Draft SISP Order February 16, 2026 to Draft SISP Order Served February 10, 2026 | PDF · Subscribers | |
Revised Draft Extension and DIP Approval Order
| PDF · Subscribers | |
| Revised Draft SISP Order | PDF · Subscribers | |
Supplement to the Second Report dated February 16, 2026
| PDF · Subscribers | |
Endorsement (February 13, 2026)
| PDF · Subscribers | |
Stay Extension Order (February 13, 2026)
| PDF · Subscribers | |
Factum of JointCraft Inc., returnable February 13, 2026 (February 11, 2026)
| PDF · Subscribers | |
Second Report of the Proposal Trustee (February 11, 2026)
| PDF · Subscribers | |
Motion Record, returnable February 13, 2026 (February 10, 2026)
| PDF · Subscribers | |
Endorsement (February 9, 2026)
| PDF · Subscribers | |
Stay Extension Order (February 9, 2026)
| PDF · Subscribers | |
First Report of the Proposal Trustee (February 8, 2026)
| PDF · Subscribers | |
Proposed Stay Extension Order, returnable February 9, 2026 (February 8, 2026)
| PDF · Subscribers | |
| Amended Notice of Motion, returnable February 9, 2026 (February 6, 2026) | PDF · Subscribers | |
| Notice of Motion, returnable February 9, 2026 (January 27, 2026) | PDF · Subscribers | |
| Certificate of filing | PDF · Subscribers | |
| Proof of Claim Form | 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., “JointCraft Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/jointcraft-inc