Ontario · CCAA
Pre-Filing Report of the Proposed Monitor
Pre-filing report · 24 March 2026
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What we verified from this filing3 verified
- secured creditorsnote: Balance reduced from prior amount after Feb 13, 2026 repayment of $97 million from Virginia Transaction proceeds; Senior Noteholders described as fulcrum creditor, not expected to recover in full; ~60% of noteholders (by value) are Supporting Noteholders under Support Agreement dated March 23, 2026; Millstreet Capital Management LLC, purchaser of Virginia/Delaware assets, is a related-party Senior Noteholder · page: 10 · as of: 2026-02-13 · amount: 178993000 · debtor: The Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc. (co-issuers), and Subsidiaries (guarantors, save East West Bank mortgaged assets) · creditor: Senior Noteholders (holders of Senior Secured Notes and Senior Secured Convertible Notes issued under the A&R Indenture) · currency: USD · security: Senior secured notes (9.25% p.a., principal $166,262,000) and senior secured convertible notes (9.0% p.a., principal $12,731,000) issued under amended and restated trust indenture dated May 29, 2025; secured by Article 9 UCC collateral and pledge/security agreements dated May 29, 2025
- secured creditorspage: 10 · as of: 2025-12-31 · amount: 40422607 · debtor: Certain members of the CC Group · creditor: East West Bank · currency: USD · security: Mortgages over certain real property located in New York, New Jersey, and Maryland, under three loan agreements
- secured creditorsnote: Quasi-governmental/deemed-tax claim; disputed by the CC Group; subject to IRS Payment Plan of $500,000/month; not contemplated to be paid during CCAA proceeding · page: 11 · as of: 2025-12-31 · amount: 89336921 · debtor: Certain entities in the CC Group · creditor: United States Internal Revenue Service (IRS) · currency: USD · security: Federal tax lien filed September 2024 under Section 280E asserted federal income tax liability