British Columbia · NOI
Second Report of the Proposal Trustee
Court officer report · 26 July 2023
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What we verified from this filing5 verified
- closing confirmedscope: Bulk Cannabis Inventory / Purchased Assets under the Sale Agreement · outcome: completed · effective: 2023-07-23 · purchaser: Atlantic Cultivation Ltd. · date basis: stated · effective time: 2:15pm · approval order date: 2023-07-10
- process resultsnote: Teaser circulated to over 80 prospective LPs and financial buyers at commencement of SISP · as of: 2023-06-30 · solicited: 80
- purchaserAtlantic Cultivation Ltd.; Atlantic Cultivation Ltd.; Revelation; price: note: sale of laptops for $6,075 and 24 pieces of miscellaneous equipment for $1,390, representing a 50% discount on used market prices; stated amount not found on page · basis: cash · sealed: false · currency: CAD · scope: Employee Equipment (laptops and miscellaneous equipment, tools and electronics) · status: proposed · name note: Purchasing Employees, current or former employees of Tantalus buying used equipment · structure: assets · name source: operative · relationship: related_party
- recovery outcomeentries: basis: liquidation_alternative · quote: the alternative would be either a) not to sell the inventory which would lead to its eventual destruction, resulting in nil recovery for creditors, or b) attempt to offload the inventory to another purchaser (if possible), which would eliminate the possibility of the wider transaction for the Brand and Other Assets. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: creditors · interim final: unstated · conditional on: not selling the inventory, leading to its eventual destruction · claims qualifier: unstated · table missing:
- sale advisorBC Farm & Ranch Realty Corp.