SOLICITATION FOR OFFERS
SUGARBUD CRAFT GROWERS CORP., TRICHOME HOLDINGS CORP. AND 1800905 ALBERTA LTD.
On September 26, 2022, each of SugarBud Craft Growers Corp., Trichome Holdings Corp., and 1800905 Alberta Ltd. (collectively, the “Companies” or “Sugarbud”) filed a Notice of Intention to Make a Proposal (each, an “NOI”) pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act (Canada), R.S.C. 1985, c. B-3 (the “BIA”) and Alvarez & Marsal Canada Inc. was appointed as Proposal Trustee (the “Proposal Trustee”) of the Companies.
Sugarbud is a federally licensed Alberta based craft cannabis company, focused on the cultivation and production of genetically diverse, select-batch connoisseur cannabis products. The Companies own a 29,800 square foot cultivation and processing facility in Stavely Alberta, with capacity for a 24,600 square foot flowering canopy.
On September 29, 2022, the Court of King’s Bench of Alberta granted an order (the “SISP Order”) allowing the Companies and the Proposal Trustee to commence a Sale and Investment Solicitation Process (the “SISP”). The SISP has been designed to solicit interest in a sale of, or investment in, all or part of Sugarbud’s assets and business operations. The SISP is being conducted in accordance with the procedures included in the SISP Order, which is included on the Proposal Trustee’s website: www.alvarezandmarsal.com/sugarbud.
Interested parties who wish to pursue a transaction and receive additional diligence materials will be required to sign a non-disclosure agreement, which can be obtained by contacting the Proposal Trustee at the email noted below.
As per the SISP, non-binding letters of interest must be submitted no later than 5:00pm MT on November 4, 2022 (Phase 1 Bid Deadline).