Alberta · CCAA
Originating Application - Initial Order (Filed)
Application / notice of application · 18 November 2025
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What we verified from this filing13 verified
- applicantSIRONA PHARMA INC., SUNERA ACREAGE HOLDINGS INC., ACREAGE DEVELOPMENT CORP. and SIRONA FARMS INC.
- commencement date20 November 2025
- courtCOURT OF KING'S BENCH OF ALBERTA
- court file no2503 23802
- statutory basisCompanies' Creditors Arrangement Act, RSC 1985, c C-36
- appointeeErnst & Young Inc.
- appointee rolemonitor
- secured creditorsnote: Van Maren Indebtedness, excluding interest and costs; original credit facility limit was up to $5,253,000 (facility limit, not balance); a March 21, 2025 Statement of Claim sought judgment of $5,575,890.09 (litigation claim amount, differs from later stated indebtedness); personal guarantees also granted by Jean Chiasson, Dianne Walsh and Glenn Walsh (directors/related individuals) - guarantor role only; Applicants currently in breach of the Van Maren Forbearance Agreement · page: 9 · as of: 2025-08-25 · amount: 6321454.87 · debtor: SuneRa Acreage Holdings Inc. (with guarantees from Sirona Pharma Inc. and Acreage Development Corp.) · creditor: Van Maren Financial (2019) Ltd. · currency: CAD · security: General security agreements from SuneRa, Sirona Pharma and Acreage Development; Collateral Mortgage on Facility Lands (Van Maren Mortgage); additional GSA granted under Forbearance Agreement
- secured creditorsnote: Estimated outstanding indebtedness under Bhullar Loan Agreement, plus interest and costs (Bhullar Indebtedness); original Six-Month Note advance up to $1,500,000 (facility limit, not balance); part of the broader Sonidech Debenture/Lender Group arrangement and included within the later-stated Sonidech Indebtedness; remains outstanding, due and owing, no repayment made · page: 10 · as of: 2025-02-08 · amount: 2691731 · debtor: SuneRa Acreage Holdings Inc. (with guarantees from Sirona Pharma Inc. and Acreage Development Corp.) · creditor: Yadevinder Singh Bhullar · currency: CAD · security: Collateral Mortgage on Facility Lands (Y.S. Bhullar Mortgage); general security agreements from SuneRa, Sirona Pharma and Acreage Development
- secured creditorsnote: Estimated outstanding indebtedness under the Bhullar Group Loan Agreement (Two-Year Notes), plus interest and costs (Bhullar Group Indebtedness); original credit facility up to $750,000 (facility limit, not balance); part of the broader Sonidech Debenture/Lender Group arrangement and included within the later-stated Sonidech Indebtedness; remains outstanding, due and owing · page: 11 · as of: 2025-02-08 · amount: 750000 · debtor: SuneRa Acreage Holdings Inc. (borrower); Applicants · creditor: Bhullar Group (Yadevinder Singh Bhullar, Jainder Singh Bhullar and Comet Warehousing & Distribution Services Limited) · currency: CAD · security: Sonidech Guarantees, Sonidech GSAs, and Bhullar Group Mortgage (collateral mortgage on Facility Lands)
- financial positionnote: Liabilities consist of the Van Maren Indebtedness, Y.S. Bhullar Indebtedness, Sonidech Indebtedness, unsecured loans, accounts payable, accrued liabilities and tax arrears, among other things (components not separately summed in document beyond the stated total) · page: 13 · as at: 2025-11-10 · basis: estimated - assets based on estimated fair market value of Facility Lands, improvements, buildings and equipment per a July 2024 appraisal; liabilities are an estimated value · scope: consolidated - the Applicants (Sirona Pharma Inc., SuneRa Acreage Holdings Inc., Acreage Development Corp. and Sirona Farms Inc.) · currency: CAD · total assets: 59000000 · total liabilities: 39500000
- secured creditorsnote: Document states components, not a single total: $15,000,000 outstanding principal plus approximately $6,000,000 in interest (together the 'Sonidech Indebtedness'); this figure explicitly includes/overlaps with the Bhullar Indebtedness ($2,691,731) and Bhullar Group Indebtedness ($750,000) reported separately above, plus interest and costs; original Sonidech Debenture facility was up to $15,000,000 (facility limit); matured Nov 25, 2024 and remains unpaid · page: 13 · as of: 2025-11-13 · debtor: SuneRa Acreage Holdings Inc. (with guarantees from Sirona Pharma Inc. and Acreage Development Corp.) · creditor: Sonidech Holdings Ltd. and Lender Group · currency: CAD · security: Sonidech Guarantees (Nov 25, 2022); Sonidech GSAs from Sirona Pharma, Acreage Development and SuneRa; Sonidech Mortgage on Facility Lands - postponed/subordinated to the Van Maren Mortgage, the Y.S. Bhullar Mortgage and the Bhullar Group Mortgage per registered postponements
- presiding officerJustice J.J. Gill