http://CFCanada.fticonsulting.com
Home
Court Orders
Reports
Motion Materials
Sale and Investment Solicitation Process
Other Documents & Notices
Service List
Frequently Asked Questions

BZAM Ltd.

On February 28, 2024, BZAM Ltd., BZAM Holdings Inc., BZAM Management Inc., BZAM Cannabis Corp., Folium Life Science Inc., 102172093 Saskatchewan Ltd., The Green Organic Dutchman Ltd., Medican Organic Inc., High Road Holding Corp., and Final Bell Corp. (together, the "Applicants") sought and obtained an order (as amended from time to time, the ("Initial Order")) from the Ontario Superior Court of Justice (Commercial List) (the "Court") under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the "CCAA"). The Initial Order provides, among other things, a stay of proceedings until and including March 8, 2024 (the "Stay Period") which may be extended by the Court from time to time. Pursuant to the Initial Order, FTI Consulting Canada Inc. has been appointed as monitor (the "Monitor").

On March 8, 2024, the Applicants obtained an amended and restated initial order (the "ARIO") from the Court extending the period of the Court-ordered stay of proceedings against the Applicants under the CCAA until and including May 25, 2024.

On March 8, 2024, the Applicants obtained an order from the Court approving the Sale and Investment Solicitation Process (the "SISP"). Please refer to the Sale and Investment Solicitation Process section of this website for additional information regarding the SISP.

On December 13, 2024, in accordance with the Approval and Vesting Order granted on October 15, 2024, BZAM Management Inc. ceased to be an applicant in the CCAA proceedings and BZAM Management Inc.'s right, title and interest in and to the Excluded Liabilities and Excluded Assets were transferred and vested to and in 1001028579 Ontario Inc., which was added as an applicant to the CCAA Proceedings.

On May 15, 2025, the Court granted an Approval and Reverse Vesting Order, which among other things, approved an amended and restated share subscription agreement dated May 9, 2025 (the "Subscription Agreement") among BZAM Ltd. ("BZAM") and 1000816625 Ontario Inc. (the "Stalking Horse Purchaser"), nunc pro tunc, and the transaction contemplated thereby (the "Stalking Horse Transaction"), inclusive of minor amendments the Applicants and the Stalking Horse Purchaser, with the consent of the Monitor, may deem necessary. The Approval and Reverse Vesting Order provided that on closing of the Stalking Horse Transaction, The Green Organic Dutchman Ltd. ("TGOD") and BZAM shall cease to be Applicants in these CCAA Proceedings and 1001105728 Ontario Inc. ("Residual Co.") shall be added as an Applicant to these CCAA Proceedings.

On May 15, 2025, the Court granted a CCAA Termination Order, which extended the stay period to and including August 15, 2025 and provided that upon service by the Monitor of an executed certificate (the "Monitor's Termination Certificate") on the Service List, these CCAA proceedings shall be terminated without any further act or formality (the "CCAA Termination Time") and FTI shall be discharged as Monitor and shall have no further duties, obligations or responsibility as Monitor from and after the CCAA Termination Time.

Further details relating to this matter may be accessed by using the menu to the left, or contacting the Monitor using the information below:

Phone: 416-649-8065
Toll Free: 1-833-446-7441
Email: bzam@fticonsulting.com

Contact FTI

FTI Consulting
TD Waterhouse Tower
79 Wellington Street West
Suite 2010, P.O. Box 104
Toronto, Ontario M5K 1G8

Useful Links

FTI Consulting
Office of the Superintendent of Bankruptcy Canada