British Columbia · CCAA
First Report of the Monitor
Court officer report · 16 September 2026
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
- secured creditorsnote: Amount is the maximum principal secured by the DIP Charge under the Initial Order (a charge ceiling, not a drawn balance), plus interest, fees and costs. Initial Draw of $375,000 advanced September 11, 2026. Subsequent advances conditional on court approval of the increase to $2,300,000, sought at the September 18, 2026 comeback hearing. Post-filing court-ordered charge. · page: 15 · as of: Initial Order date (September 8, 2026) · amount: 375000 · debtor: Vitasave Wellness Inc. · creditor: Fairway Ventures Corp. (DIP Lender) · currency: CAD · security: DIP Charge over all of Vitasave's present and after-acquired property; ranks subordinate to the Administration Charge and any security interests of BMO. Applied-for increase to a maximum principal of $2,300,000; DIP Term Sheet Maximum Amount (Initial Draw, Base Advances and Reserve) is $3,300,000.
- secured creditorsnote: Only referred to as holding security interests ranking ahead of the DIP Charge; no amount or details stated here. Details are said to be in the Pre-Filing Report. · page: 15 · debtor: Vitasave Wellness Inc. · creditor: Bank of Montreal (BMO) · currency: CAD · security: Security interests of BMO (nature and collateral not described in this report)
- secured creditorsnote: Post-filing court-ordered charge; stated maximum principal amount of $100,000, not an outstanding balance. · page: 16 · as of: Initial Order date (September 8, 2026) · amount: 100000 · debtor: Vitasave Wellness Inc. · creditor: Court-ordered Administration Charge (Monitor, Monitor's counsel and Vitasave's counsel) · currency: CAD · security: Administration Charge ranking first among the court-ordered charges