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The Cannabist Company - Reports
The following reports have been filed in the proceedings:
 Pre-Filing Report of the Proposed Monitor |
March 24, 2026 |
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The purpose of this Pre-Filing Report is to provide this Court with information pertaining to: (a) the qualifications of FTI to act as Monitor and an overview of the involvement of FTI and its affiliates to date with the Applicants and the Applicants' subsidiaries listed in Appendix A hereto (the "Subsidiaries", and together with the Applicants, the "CC Group"); (b) the state of the business and affairs of the Applicants and the Subsidiaries, along with the causes of their financial difficulty and insolvency; (c) the Applicants' financial position and weekly cash flow forecast for the period March 16, 2026, to June 14, 2026 (the "March 2026 Forecast"); (d) the Applicants' proposed roadmap during this CCAA Proceeding, including the CC Group's intention to complete the Sale Transactions (as defined below) and wind down the balance of their operations; (e) the recent closing of the Virginia Transaction (as defined below), the distribution of proceeds therefrom and certain post-closing agreements entered in connection therewith, including a transition services agreement; (f) the terms of the support agreement (the "Support Agreement") dated March 23, 2026, by and between the Applicants and certain holders of the majority of the Senior Notes (as defined below) (the "Supporting Noteholders"); (g) the opinions of the Proposed Monitor's counsel regarding the validity and enforceability of the Senior Notes (as defined below); (h) the Proposed Monitor's and the Applicants' proposed communication plan during this CCAA Proceeding; (i) the Applicants' request for approval of a charge in the maximum amount of $9 million (the "D&O Charge") securing the Applicants' indemnification of their directors and officers against obligations and liabilities that they may incur in such capacities after the commencement of this CCAA Proceeding; (j) the Applicants' request for approval of a charge in the maximum amount of $1.3 million (the "Administration Charge") securing the fees and expenses of the Monitor, the Monitor's Canadian counsel, the Monitor's Delaware counsel, the Applicants' Canadian, U.S. and local Delaware counsel, Moelis & Company LLC (in respect of its monthly fees) and the CRO; (k) the Applicants' request to pay certain pre-filing amounts owing to certain suppliers that provide the Applicants and/or Subsidiaries with essential services and/or products, up to a maximum aggregate amount of $4 million and in each case with the Monitor's consent; (l) the Applicants' request to maintain the Cash Management System (as defined below); and (m) the Chapter 15 Proceedings (as defined below) that the Parent Company intends to commence in its capacity as the foreign representative of the Applicants (in such capacity, the "Foreign Representative") in the United States. | |
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