British Columbia · CCAA
Sixth Report of the Monitor dated July 28, 2023
Court officer report · 28 July 2023
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 filing8 verified
- cash on handnote: Ending Combined Cash Balance (actual) at the end of the Fifth Cash Flow Period; ending operating cash balance was $82,448. Separately, the Monitor holds approximately $1,260,276 in trust on behalf of the Company (Transaction Funds of $1,248,000 plus accrued interest, net of deposits). · as at: 2023-07-23 · amount: 108460 · currency: CAD
- closing confirmedscope: the Cannavore Transaction · outcome: completed · effective: 2023-06-23 · purchaser: Cannavore Cannabis Inc. · date basis: stated
- disbursementsnote: This is a period figure for the Fifth Cash Flow Period only (actual disbursements vs. projection of $1,123,550), not cumulative since the filing date; the report gives no cumulative disbursements figure. · since: June 12, 2023 (the Fifth Cash Flow Period, June 12 to July 23, 2023) · amount: 1131484 · currency: CAD
- operational summaryThe Company continues operating its retail cannabis stores in the ordinary course while completing the sale transactions. The Forthspace and Cannavore transactions have closed, and the SNDL and 484 transactions are expected to close around the end of August 2023. The Company has stopped paying post-filing PST and GST, with funds held in trust by the Monitor exceeding the arrears.
- purchaserCannavore Cannabis Inc.; 1392484 B.C. Ltd; SNDL Inc.
- receipts cumulativenote: This is a period figure for the Fifth Cash Flow Period only (actual receipts vs. projection of $1,118,000), not cumulative since the filing date; the report gives no cumulative receipts figure. · since: June 12, 2023 (the Fifth Cash Flow Period, June 12 to July 23, 2023) · amount: 1081625 · currency: CAD
- report date28 July 2023
- report noSixth Monitor's Report