Alberta · CCAA
First Affidavit of W.MacDonald – Affirmed
Affidavit · 25 February 2026
Also filed as: First Affidavit of W.MacDonald – Affirmed
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What we verified from this filing7 verified
- secured creditorsnote: Factoring/receivables purchase arrangement plus PPSA security interest; no outstanding balance stated · page: 10 · debtor: SSC; MHF, CannMart, ANC (joined via consolidated subsidiary joinder agreement dated December 19, 2025) · creditor: Stoke Canada Finance Corp. · currency: CAD · security: Ownership (true sale) of Purchased Receivables and Reserve Amounts under Receivables Purchase Agreement (not property of debtors); first-priority security interest in specific inventory held/acquired to fulfill Eligible Purchase Orders under the PO Supplement, subject to a Permitted Encumbrance carveout limit under the KWC GSA of currently $500,000 (a ceiling, not a balance)
- secured creditorsnote: Secures Secured Convertible Debentures; approx. $6,000,000 originally issued (prose approximation); $5,975,000 stated as outstanding as of the date of the Affidavit; interest current and paid as of December 31, 2025 · page: 11 · as of: 2026-02-25 · amount: 5975000 · debtor: SSC (primary obligor); MHF, CannMart, ANC (guarantors under KWC GSA) · creditor: KW Capital Partners Ltd. (as collateral agent for Debentureholders) · currency: CAD · security: General Security Agreement (KWC GSA) dated February 13, 2025 - first-position security interest over all present and after-acquired real and personal property of SSC and guarantor CCAA Applicants, excluding Stoke's PO Supplement collateral (2nd position, capped at $500,000), the Lifeist Promissory Note collateral, and the Altek Promissory Note collateral
- secured creditorsnote: Stated as 'approximately $497,000 outstanding'; CannMart disputes that this amount is still owing and is in negotiations with Lifeist · page: 11 · amount: 497000 · debtor: CannMart · creditor: Lifeist Wellness Inc. · currency: CAD · security: Vendor take-back promissory note secured against all of CannMart's present and future personal property, excluding consumer goods
- secured creditorsnote: SSC is party to this promissory note; none of the CCAA Applicants are parties to it. Individual noteholders (Bordeniuk, Rutter, Clarke, Facciolo) are personal, not corporate, creditors - named for identification only · page: 11 · debtor: SSC (not a CCAA Applicant) · creditor: Altek Acquisition Partnership (and individual noteholders Clayton Bordeniuk, Tairance Rutter, James Clarke, Thomas Facciolo) · currency: CAD · security: Security interest under promissory note dated October 17, 2024, carved out of the KWC GSA
- secured creditorsnote: Deemed trust class - Tax Arrears comprising federal excise tax ($1,518,377.76), GST/HST ($359,603.10), and payroll source deductions ($2,164,220.35) · page: 13 · as of: 2026-02-23 · amount: 4050100.9 · debtor: MHF · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Deemed trust class - Tax Arrears comprising federal excise tax ($2,024,346.12) and GST/HST ($1,458,836.35) · page: 13 · as of: 2026-02-23 · amount: 3483182.47 · debtor: ANC · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Deemed trust class - Tax Arrears comprising federal excise tax ($3,025,490.18), GST/HST ($90,986.44), and payroll source deductions ($86,935.64) · page: 13 · as of: 2026-02-23 · amount: 3203412.26 · debtor: CannMart · creditor: Canada Revenue Agency · currency: CAD