Ontario · CCAA
Motion Record of the Applicants (Re: Comeback Hearing) (Returnable June 15, 2023)
Application / notice of application · 14 June 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 filing9 verified
- financial positionnote: Table shows Non-Current Liabilities of $37,778,000 and Total Liabilities of $88,601,000; current liabilities line and total assets not captured on this page. Related text states $8.2 million cash and over $50.8 million current liabilities as at March 31, 2023. · page: 72 · as at: 2023-03-31 · basis: Q1 2023 Financial Statement (unaudited, as referenced in surrounding text) · scope: consolidated - the Companies (Fire & Flower Holdings Corp. and its subsidiaries, plus Hifyre US Inc. and PGED Corp.) · currency: CAD · total liabilities: 88601000
- secured creditorsnote: Outstanding principal increased from $11,000,000 original advance due to FFHC electing to capitalize accrued interest in lieu of cash payment (Dec 31, 2022 and Mar 31, 2023); ACT Investor is also the post-filing DIP Lender (related-party financing arrangement) · page: 74 · as of: date of this affidavit (June 14, 2023) · amount: 11551000 · debtor: Fire & Flower Holdings Corp. (FFHC), guaranteed by all Canadian subsidiaries (FFI, Friendly Stranger, Open Fields Distribution, Hifyre, Hi-Line Ventures, 133 Canada, Pineapple Express Delivery) · creditor: 2707031 Ontario Inc. ("ACT Investor") · currency: CAD · security: General Security Agreement dated October 17, 2022 - first-ranking charge on all Applicants' assets; original ACT Loan Agreement facility limit was $11,000,000 (non-revolving credit facility, fully funded)
- secured creditorsnote: Debt has been repaid; security registration should be discharged (discharged security, not current) · page: 75 · debtor: one or more of the Applicants · creditor: Namaste Technologies Inc. · currency: CAD · security: PPSA registration
- secured creditorsnote: Debt has been repaid; security registration should be discharged (discharged security, not current) · page: 75 · debtor: one or more of the Applicants · creditor: ATB Financial · currency: CAD · security: PPSA registration
- secured creditorsnote: Nature of underlying debt/security not further described; PPSA search currency dates May 29-June 1, 2023 · page: 75 · debtor: one or more of the Applicants · creditor: Receivables Management Office - Sonja Shaw · currency: CAD · security: Registered PPSA secured interest against certain personal property
- secured creditorsnote: Serialized-equipment (vehicle) financier; currency date of PPSA search May 29-June 1, 2023 · page: 75 · debtor: one or more of the Applicants · creditor: PPSA equipment financiers (PMSI class) - Ford Credit Canada Company · currency: CAD · security: PPSA registration re: motor vehicle in Ontario
- secured creditorsnote: Letter of credit has been returned; security registration should be discharged (discharged security, not current) · page: 75 · debtor: Fire & Flower Inc. (FFI) · creditor: Alterna Savings & Credit Union Limited · currency: CAD · security: Letter of credit issued to FFI in the amount of $5,000,000 (facility/LC amount, not a balance)
- secured creditorsnote: Debt has been repaid; security registration should be discharged (discharged security, not current) · page: 75 · debtor: one or more of the Applicants · creditor: World Class Extractions Inc. · currency: CAD · security: PPSA registration
- secured creditorsnote: Debt has been repaid; security registration should be discharged (discharged security, not current) · page: 75 · debtor: one or more of the Applicants · creditor: Computershare Trust Company of Canada · currency: CAD · security: Secured convertible debenture