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.
紅白布魯姆品牌公司。(OTCEM：RWBYF)(CSE：RWB)提供關於Aleafia Health Inc.債務的最新情況。(OTCQB：ALEAF)(多倫多證券交易所：AH)及其某些附屬公司與截至2021年12月24日簽訂的貸款協定有關，該協定於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日修訂，並於2023年6月6日分配給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(商業名單)根據《公司債權人安排法》發出的命令，要求重組其業務和財務。根據RWB和Aleafia於2023年7月24日簽署的條款說明書，最初的命令批准了RWB將提供的債務人佔有融資(“DIP融資”)，以資助Aleafia CCAA的訴訟和其他短期營運資金要求。根據Aleafia DIP條款說明書，RWB同意提前提供660萬美元的DIP融資(“DIP貸款”)。DIP貸款的持續可獲得性取決於滿足某些條件，包括初始訂單保持有效。
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違反了Aleafia優先擔保貸款協定下的某些契約，雙方之前宣佈的擬議交易已相互終止。RWB沒有放棄任何未決的違規行為，並保留了根據Aleafia優先擔保貸款協定的所有權利和補救措施。RWB還根據Aleafia優先擔保貸款協定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.
昨天市場收盤後，鑑於Aleafia的財務狀況，RWB發佈了要求函和通知，以執行安全條例第244條《破產與破產法案》並向Aleafia提供了上述DIP貸款，以允許Aleafia繼續進行Aleafia CCAA程式。
Benzinga Cannabis Capital Conference
本辛加大麻首都會議
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是達成交易的地方，將於今年9月27日至28日返回芝加哥舉行第17屆。在價格上漲之前今天就買到票，並在大麻投資和品牌推廣的中心獲得一席之地。
Photo by Esteban López on Unsplash
Esteban López在Unspash上的照片