British Columbia · CCAA
First Report of the Monitor Dated April 29, 2022
Court officer report · 29 April 2022
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing3 verified
- financial positionnote: Assets stated as at December 31, 2021 (book value); liabilities separately estimated by Monitor as at approx. CCAA Filing Date (April 22, 2022) as secured creditors $10,100,000 (2019 Convertible Debenture $4,100,000 + Aurora $6,000,000) and unsecured creditors $1,913,536 (AP by entity + government assistance), plus long-term lease obligations 'TBD'; no combined total liabilities figure stated in document, so not computed here per reporting rules; asset and liability figures use different as-at dates. · page: 7 · as at: 2021-12-31 · basis: book value (unaudited, per Petitioners' books and records) · scope: Petitioners (Choom Holdings Inc., Choom BC Retail Holdings Inc., 2151414 Alberta Ltd., 2688412 Ontario Inc., Phivida Holdings Inc.) - combined/collective · currency: CAD · total assets: 18131844
- secured creditorsnote: Group of lenders colloquially referred to as the '2019 Convertible Debenture Holders' · page: 10 · as of: CCAA filing date · amount: 4100000 · debtor: Choom Group (Petitioners) · creditor: 2019 Convertible Debenture Holders · currency: CAD · security: Secured charge; validity of security not independently reviewed by Monitor
- secured creditorsnote: Distinct from Aurora's separate role as Interim (DIP) Lender under the Interim Financing Charge/DIP Charge (max $300,000, proposed increase to $800,000); related-party/strategic lender · page: 10 · as of: CCAA filing date · amount: 6000000 · debtor: Choom Group (Petitioners) · creditor: Aurora Cannabis Inc. · currency: CAD · security: Secured charge; validity of security not independently reviewed by Monitor