CCAA

Lynx Air Files for and Obtains CCAA Creditor Protection

Retrieved on: 
Friday, February 23, 2024

CALGARY, Alberta, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Lynx Air (Lynx), a low-cost airline with service to destinations throughout Canada, the U.S. and Mexico, today announced that it has sought and obtained an initial order for creditor protection from the Court of King’s Bench of Alberta under the Companies' Creditors Arrangement Act (“CCAA”).

Key Points: 
  • CALGARY, Alberta, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Lynx Air (Lynx), a low-cost airline with service to destinations throughout Canada, the U.S. and Mexico, today announced that it has sought and obtained an initial order for creditor protection from the Court of King’s Bench of Alberta under the Companies' Creditors Arrangement Act (“CCAA”).
  • Over the past year, Lynx Air, has faced a number of significant headwinds including rising operating costs, high fuel prices, exchange rates, increasing airport charges and a difficult economic and regulatory environment.
  • Osler, Hoskin & Harcourt LLP are acting as legal advisors to Lynx Air.
  • Additional information related to the CCAA proceedings will be available on the Monitor's case website at: http://cfcanada.fticonsulting.com/lynxair .

Hornblower Group to Be Acquired and Receive Significant New Equity Investment

Retrieved on: 
Wednesday, February 21, 2024

Under the terms of the agreement, funds managed by Strategic Value Partners, LLC and its affiliates (together, "SVP"), a global alternative investment firm, will acquire majority ownership of Hornblower and provide a significant equity investment in the business.

Key Points: 
  • Under the terms of the agreement, funds managed by Strategic Value Partners, LLC and its affiliates (together, "SVP"), a global alternative investment firm, will acquire majority ownership of Hornblower and provide a significant equity investment in the business.
  • Crestview Partners ("Crestview") will retain a significant minority position in Hornblower and become the sole owner of Journey Beyond, a stand-alone operating unit of Hornblower and the leading experiential travel provider in Australia.
  • Hornblower is taking this action because of the underperformance of AQV, which has not rebounded from the pandemic.
  • With substantial growth potential in travel and tourism, we see significant opportunities ahead for Hornblower to further expand its leadership position.

Red White & Bloom Brands Transitions to International Cannabis Company Through Closing of Aleafia Transaction

Retrieved on: 
Monday, January 15, 2024

TORONTO, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB”) is pleased to announce that, in connection with the proceedings of Aleafia Health Inc. (“Aleafia Health”) and certain of its subsidiaries (collectively, the “Aleafia Group”) under the Companies’ Creditors Arrangement Act (the “CCAA Proceedings”), the parties have successfully closed the previously announced sale transaction (the “Transaction”), as further described below.

Key Points: 
  • “The accretive nature of the Transaction has been evident to RWB management since the inception of the relationship with the Aleafia group of companies.
  • With the closing behind us, the combined, dedicated RWB and Aleafia teams are focused on delivering accessible synergies focused within sales, production, procurement, and marketing."
  • One of Canada’s largest virtual medical cannabis clinics that provides quality cannabis products to patient subscribers in a convenient and low-cost setting.
  • An established portfolio of loyal cannabis brands in both adult use (recreational) and medical channels.

OSC announces Seniors Expert Advisory Committee members for 2024

Retrieved on: 
Wednesday, January 10, 2024

TORONTO, Jan. 10, 2024 /CNW/ - The Ontario Securities Commission (OSC) today announced the membership of its Seniors Expert Advisory Committee (SEAC) for the 2024 term.

Key Points: 
  • TORONTO, Jan. 10, 2024 /CNW/ - The Ontario Securities Commission (OSC) today announced the membership of its Seniors Expert Advisory Committee (SEAC) for the 2024 term.
  • First launched in 2016, SEAC has provided valuable insights on and contributions to OSC initiatives supporting seniors, including the development and implementation of the OSC Seniors Strategy.
  • Members provide diverse perspectives on issues and challenges facing older investors, drawing on their expertise in sectors including financial services, law, law enforcement, academia, medicine and seniors' advocacy.
  • The OSC would like to thank former SEAC members Alexis Wenzowski, Harold Geller, James (Jim) Turner, Kavina Nagrani and Keith Sjorgen for their service and contributions.

HUMBLE & FUME INC. FILES FOR CCAA PROTECTION

Retrieved on: 
Friday, January 5, 2024

TORONTO, Jan. 5, 2024 /PRNewswire/ - Humble & Fume Inc. (CSE: HMBL) (OTC Pink: HUMBF) ("Humble" or the "Company"), today announces that the Company and its subsidiaries, Humble & Fume Inc. (Manitoba), P.W.F.

Key Points: 
  • TORONTO, Jan. 5, 2024 /PRNewswire/ - Humble & Fume Inc. (CSE: HMBL) (OTC Pink: HUMBF) ("Humble" or the "Company"), today announces that the Company and its subsidiaries, Humble & Fume Inc. (Manitoba), P.W.F.
  • Headquarters Inc., Fume Labs Inc., and Humble Cannabis Solutions Inc. (together with the Company, collectively, the "Humble Group") have initiated proceedings (the "CCAA Proceedings") in the Ontario Superior Court of Justice (Commercial List) (the "Court") under the Companies' Creditors Arrangement Act (the "CCAA").
  • After extensive consultation with legal and financial advisors, and thorough consideration of all available alternatives, the directors of the Humble Group determined that it was in the best interests of the Humble Group to seek creditor protection under the CCAA.
  • The Company believes that the protection afforded by the CCAA will allow the Humble Group to address its liquidity issues and stabilize operations.

High Tide to Open First Canna Cabana in Mississauga, Ontario

Retrieved on: 
Thursday, December 28, 2023

CALGARY, AB, Dec. 28, 2023 /PRNewswire/ – High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that its Canna Cabana retail cannabis store located at 5700 Mavis Road, Mississauga, Ontario will begin selling recreational cannabis products and consumption accessories for adult use tomorrow.

Key Points: 
  • CALGARY, AB, Dec. 28, 2023 /PRNewswire/ – High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that its Canna Cabana retail cannabis store located at 5700 Mavis Road, Mississauga, Ontario will begin selling recreational cannabis products and consumption accessories for adult use tomorrow.
  • This opening will mark High Tide's 162nd Canna Cabana branded location in Canada, the 54th in the province of Ontario and the first in Mississauga.
  • In April 2023, High Tide spearheaded efforts, which resulted in Mississauga's City Council approving a motion to allow legal retail cannabis stores to open within its borders.
  • This Canna Cabana is opening right next to the entrance of Heartland Town Centre, a major retail power centre and one of the largest in the province.

Monarch is Placed Under the Protection of the CCAA to Ensure a Responsible, Controlled, and Orderly Restructuring of Its Affairs

Retrieved on: 
Thursday, November 16, 2023

The Court has issued an initial order today under the CCAA in relation to the Corporation.

Key Points: 
  • The Court has issued an initial order today under the CCAA in relation to the Corporation.
  • PricewaterhouseCoopers Inc. has been appointed as the monitor (“Monitor”) to oversee the activities of the Corporation during the CCAA process.
  • Due to the CCAA process, it is anticipated that the Toronto Stock Exchange (the “Exchange”) will conduct a review to determine if the Corporation meets the Exchange's listing requirements.
  • Laurie Gaborit, Guylaine Daigle, and Messrs. Michel Bouchard and Benoit Desormeaux have resigned from their positions as directors with immediate effect as of today.

Monarch Announces the Filing of a Procedure Under CCAA

Retrieved on: 
Tuesday, November 14, 2023

MONTREAL, Nov. 14, 2023 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQB: GBARF) announces that Investissement Québec, one of its creditors, has filed a request pursuant to the Companies' Creditors Arrangement Act (“CCAA") with the Quebec Superior Court to place the Corporation under the protection of the CCAA.

Key Points: 
  • MONTREAL, Nov. 14, 2023 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQB: GBARF) announces that Investissement Québec, one of its creditors, has filed a request pursuant to the Companies' Creditors Arrangement Act (“CCAA") with the Quebec Superior Court to place the Corporation under the protection of the CCAA.
  • Further updates and details will be provided as appropriate.

Aircall Appoints Scott Chancellor as CEO

Retrieved on: 
Thursday, December 14, 2023

Aircall, the customer communication and engagement platform, today announced that Scott Chancellor will join the company as Chief Executive Officer (CEO), effective immediately.

Key Points: 
  • Aircall, the customer communication and engagement platform, today announced that Scott Chancellor will join the company as Chief Executive Officer (CEO), effective immediately.
  • Chancellor succeeds Olivier Pailhès, who co-founded Aircall, and will remain a member of the company’s Board of Directors.
  • Chancellor most recently served as CEO of Humu, a leading employee experience platform, where, as CEO, he led the expansion of the company’s product portfolio, culminating in its acquisition by Perceptyx.
  • Ten years into its journey, Aircall is continuing to rapidly adapt to emerging customer needs, delivering the next generation of game-changing communications technologies for SMBs,” said Chancellor.

IntelePeer Appoints Geoff Chretien to Senior Vice President of Channels

Retrieved on: 
Wednesday, December 13, 2023

IntelePeer , a leading provider of AI-powered communications automation solutions, announces the appointment of Geoff Chretien to Senior Vice President of Channels.

Key Points: 
  • IntelePeer , a leading provider of AI-powered communications automation solutions, announces the appointment of Geoff Chretien to Senior Vice President of Channels.
  • Prior to IntelePeer, he was at Genesys, serving as the company’s Vice President of Partner Sales North America.
  • Before that position, he was Vice President, Channel Sales.
  • Likewise, his experience includes tenure at NICE inContact as the Vice President Channel Sales.