Alberta · CCAA
Sworn Affidavit of J Chiasson - Part 1 (Filed)
Affidavit · 19 November 2025
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What we verified from this filing5 verified
- financial positionnote: Liabilities table includes Van Maren Indebtedness ($6,000,000), Y.S. Bhullar Indebtedness ($2,000,000), Sonidech Indebtedness ($15,000,000), and Shareholder Loans ($10,000,000) among other items - these figures differ slightly from the more precise amounts stated elsewhere in the affidavit (paras 109-164) and are rounded estimates. · page: 19 · as at: 2025-11-10 · basis: Estimated balance sheet (Exhibit 14); assets based on a July 2024 appraisal; described by affiant as estimates only due to limited available information following the Cyber Attack and IT manager withholding server access · scope: entity - Sirona Pharma Inc. only (not consolidated for all Applicants) · currency: CAD · total assets: 59000000 · total liabilities: 39500000
- secured creditorsnote: Primary secured creditor. Original facility limit $5,253,000 (Jan 23, 2024) plus a $357,000 supplemental loan (Sept 15, 2025). Statement of Claim filed March 21, 2025 for $5,575,890.09. Estimated indebtedness $5,964,454.87 as of Aug 15, 2025, superseded by $6,321,454.87 as of Aug 25, 2025 ('Van Maren Indebtedness'). Secured also by personal guarantees of Diane Walsh, Glenn Walsh and Jean Chiasson (directors/related parties). Applicants in default of Forbearance Agreement (Sept 15, 2025) and exposed to Consent Receivership Order. · page: 24 · as of: 2025-08-25 · amount: 6321454.87 · debtor: SuneRa Acreage Holdings Inc. (borrower); guaranteed by Sirona Pharma Inc. and Acreage Development Corp.; mortgage granted by Sirona Pharma Inc. over Facility Lands · creditor: Van Maren Financial (2019) Ltd. · currency: CAD · security: Collateral Mortgage on Facility Lands (max $5,253,000 principal, registered instrument #242051271, plus Supplemental loan GSA dated Sept 25, 2025); General Security Agreements (Sirona Pharma, SuneRa, Acreage Development); Caveat re Assignment of Rents and Leases; Certificate of Lis Pendens registered May 1, 2025
- secured creditorsnote: 'Bhullar Indebtedness' - plus interest and costs, remains outstanding as of filing date. Part of original Sonidech Debenture Lender Group; Six-Month Note facility limit was $1,500,000. Second demand and notice of intent to enforce issued Feb 5, 2025. · page: 26 · as of: 2025-02-08 · amount: 2691731 · debtor: SuneRa Acreage Holdings Inc. (borrower); guaranteed by Sirona Pharma Inc. and Acreage Development Corp.; mortgage granted by Sirona Pharma Inc. over Facility Lands · creditor: Yadevinder Singh Bhullar · currency: CAD · security: Collateral Mortgage on Facility Lands (max $1,500,000, registered instrument #242142497, postponed in favour of, but ranking ahead of Sonidech Mortgage); General Security Agreements (Sirona Pharma, SuneRa, Acreage Development)
- secured creditorsnote: 'Bhullar Group Indebtedness' - plus interest and costs, remains outstanding as of filing date. Original Two-Year Notes totalled $750,000 (Nov 25, 2022), part of Sonidech Debenture Lender Group. SuneRa consented to immediate appointment of private receiver upon breach. · page: 27 · as of: 2025-02-08 · amount: 750000 · debtor: SuneRa Acreage Holdings Inc. (borrower); guaranteed by Sirona Pharma Inc. and Acreage Development Corp.; mortgage granted by Sirona Pharma Inc. over Facility Lands · creditor: Bhullar Group (Yadevinder Singh Bhullar, Jainder Singh Bhullar and Comet Warehousing & Distribution Services Limited) · currency: CAD · security: Collateral Mortgage on Facility Lands (max $875,000, registered instrument #252089581, postponed in favour of, but ranking ahead of Sonidech Mortgage); General Security Agreements (Sirona Pharma, SuneRa, Acreage Development); Guarantees dated Jan 15, 2025 up to $875,000
- secured creditorsnote: Document states Applicants owe the Lender Group $15,000,000 in outstanding principal plus approximately $6,000,000 in interest ('Sonidech Indebtedness') as of Nov 13, 2025; document explicitly states this figure includes the Bhullar Indebtedness ($2,691,731) and Bhullar Group Indebtedness ($750,000) reported separately above - components not summed per reporting rules to avoid double count. Sonidech Mortgage is subordinated (postponed) to Van Maren, Y.S. Bhullar and Bhullar Group mortgages despite earlier registration date. · page: 31 · as of: 2025-11-13 · debtor: SuneRa Acreage Holdings Inc. (borrower); mortgage granted by Sirona Pharma Inc. over Facility Lands · creditor: Sonidech Holdings Ltd. (Lender Group) · currency: CAD · security: Mortgage on Facility Lands, original principal $15,000,000 (registered instrument #232109920, April 6, 2023), postponed to Van Maren, Y.S. Bhullar and Bhullar Group mortgages by registered postponements; Sonidech GSAs; Sonidech Collateral Mortgage