Canadian Cannabis Retailer Superette Begins Process of Selling Assets

Superette Announces Court-approved Sale And Investment Solicitation Process

TORONTO, Sept. 9, 2022 /CNW/ – Superette Inc., together with its subsidiaries, Superette Ontario Inc., 2659198 Ontario Inc., 2662133 Ontario Inc., 2662134 Ontario Inc., and 2662135 Ontario Inc. (collectively, “Superette”), announce that on September 9, 2022, the Ontario Superior Court of Justice (Commercial List) (the “Court”) issued an Amended and Restated Initial Order under Companies’ Creditors Arrangement Act (“CCAA”) and an order approving: (i) a sale and investment solicitation process (“SISP”); and (ii) a purchase agreement with SNDL Inc. to serve as the stalking horse bid in the SISP (the “Stalking Horse Bid”).

The purpose of the SISP is to solicit proposals to purchase or invest in some or all of Superette’s assets, business and operations. The Stalking Horse Bid proposes to acquire substantially all of the business and assets of Superette through a hybrid asset purchase and ‘reverse vesting’ transaction and will serve as the minimum acceptable bid for potential alternative bids to be submitted in the SISP.

The SISP will be supervised and conducted by the Court-appointed monitor of Superette, PricewaterhouseCoopers Inc. (in such capacity, the “Monitor”).

In order to obtain detailed information on Superette and its business, assets and operations, and participate in the SISP, interested parties will be required to sign a non-disclosure agreement. The deadline for the submission of non-binding expressions of interest in the SISP is October 11, 2022 at 5:00 p.m. ET.


Superette is an established brand-first retailer of premium cannabis products in Canada Ontario focused on an immersive yet familiar nostalgic retail experience. Superette currently operates stores in Ottawa and Toronto, Canada.

For further information: For further information regarding the SISP, please refer to the Monitor’s website at or contact the Monitor directly at

Original press release

Published by NCV Newswire
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