Aleafia Health Obtains Creditor Protection To Pursue Restructuring And Sale Process
Aleafia Health Obtains Creditor Protection To Pursue Restructuring And Sale Process
Red White & Bloom Brands Inc. (OTCEM:RWBYF) (CSE:RWB) provided an update on the indebtedness of Aleafia Health Inc. (OTCQB:ALEAF) (TSX:AH) and certain of its affiliates in connection with the loan agreement made as of December 24, 2021, as amended on March 28, 2022, June 17, 2022, April 26, 2023, May 15, 2023, and May 31, 2023 and assigned to RWB on June 6, 2023.
红白布鲁姆品牌公司。(OTCEM：RWBYF)(CSE：RWB)提供关于Aleafia Health Inc.债务的最新情况。(OTCQB：ALEAF)(多伦多证券交易所：AH)及其某些附属公司与截至2021年12月24日签订的贷款协议有关，该协议于2022年3月28日、2022年6月17日、2023年4月26日、2023年5月15日和2023年5月31日修订，并于2023年6月6日分配给RWB。
Aleafia has received an order from the Ontario Superior Court of Justice (Commercial List) under the Companies' Creditors Arrangement Act, in order to restructure its business and financial affairs. The initial order approved, among other things, debtor-in-possession financing ("DIP financing") to be provided by RWB to fund the Aleafia CCAA proceedings and other short-term working capital requirements pursuant to a term sheet between RWB and Aleafia dated July 24, 2023. Under the Aleafia DIP term sheet, RWB agreed to advance DIP financing in the amount of $6.6 million (the "DIP loan"). The continued availability of the DIP loan is conditional upon, among other things, certain conditions being satisfied, including the initial order remaining in effect.
Aleafia已收到安大略省高等法院(商业名单)根据《公司债权人安排法》发出的命令，要求重组其业务和财务。根据RWB和Aleafia于2023年7月24日签署的条款说明书，最初的命令批准了RWB将提供的债务人占有融资(“DIP融资”)，以资助Aleafia CCAA的诉讼和其他短期营运资金要求。根据Aleafia DIP条款说明书，RWB同意提前提供660万美元的DIP融资(“DIP贷款”)。DIP贷款的持续可获得性取决于满足某些条件，包括初始订单保持有效。
Aleafia was in breach of certain covenants under the Aleafia senior secured loan agreement, and the previously announced proposed transaction between the parties had been mutually terminated. RWB did not waive any outstanding breaches and reserved all of its rights and remedies under the Aleafia senior secured loan agreement. RWB also provided a series of extensions and other accommodations under the Aleafia senior secured loan agreement.
Aleafia违反了Aleafia优先担保贷款协议下的某些契约，双方之前宣布的拟议交易已相互终止。RWB没有放弃任何未决的违规行为，并保留了根据Aleafia优先担保贷款协议的所有权利和补救措施。RWB还根据Aleafia优先担保贷款协议提供了一系列延期和其他便利。
After the close of markets yesterday, in light of Aleafia's financial position, RWB issued demand letters and notices to enforce security under section 244 of the Bankruptcy and Insolvency Act and provided Aleafia with the aforementioned DIP loan to allow Aleafia to proceed with the Aleafia CCAA proceedings.
昨天市场收盘后，鉴于Aleafia的财务状况，RWB发布了要求函和通知，以执行安全条例第244条《破产与破产法案》并向Aleafia提供了上述DIP贷款，以允许Aleafia继续进行Aleafia CCAA程序。
Benzinga Cannabis Capital Conference
本辛加大麻首都会议
The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.
Benzinga Cannabis Capital Conference是达成交易的地方，将于今年9月27日至28日返回芝加哥举行第17届。在价格上涨之前今天就买到票，并在大麻投资和品牌推广的中心获得一席之地。
Photo by Esteban López on Unsplash
Esteban López在Unspash上的照片