Business
Ayurcann Obtains Creditor Protection to Pursue Restructuring and Sales Process
Ayurcann Holdings Corp. (CSE: AYUR) (OTCQB: AYURF) ("Ayurcann") announced today that Ayurcann and its subsidiary Ayurcann Inc. (collectively, the "Ayurcann Group" or the "Applicants") have been granted creditor protection under the Companies' Creditors Arrangement Act (the "CCAA" and the proceedings related thereto, the "CCAA Proceedings") pursuant to an order (the "Initial Order") of the Ontario Superior Court of Justice (Commercial List) (the "Court"). Pursuant to the Initial Order, the Court
About this update from Ayurcann Holdings Corp.
[{"type":"text","content":"TORONTO, Jan. 30, 2026 /CNW/ - Ayurcann Holdings Corp. (CSE: AYUR) (OTCQB: AYURF) ("Ayurcann") announced today that Ayurcann and its subsidiary Ayurcann Inc. (collectively, the "Ayurcann Group" or the "Applicants") have been granted creditor protection under the Companies' Creditors Arrangement Act (the "CCAA" and the proceedings related thereto, the "CCAA Proceedings") pursuant to an order (the "Initial Order") of the Ontario Superior Court of Justice (Commercial List) (the "Court"). Pursuant to the Initial Order, the Court has appointed Alvarez & Marsal Canada Inc. as the monitor of the Applicants (in such capacity, the "Monitor") to oversee the CCAA Proceedings.","length":766,"tagName":"p"},{"type":"text","content":"After careful consideration of all reasonably available alternatives, the board of directors of each member of the Ayurcann Group determined that it was in the best interest of the Ayurcann Group and its stakeholders to seek creditor protection under the CCAA.","length":260,"tagName":"p"},{"type":"text","content":"The Initial Order provides for, among other things, a stay of creditor claims and proceedings in favour of the Applicants for an initial period of 10 days, subject to extension thereafter as the Court deems appropriate. The CCAA Proceedings and the stay of proceedings will provide the Ayurcann Group with the time and stability required to continue operating in the ordinary course while considering potential restructuring alternatives with a view to maximizing value for the benefit of its creditors and other stakeholders.","length":526,"tagName":"p"},{"type":"text","content":"In that regard, the Ayurcann Group intends to seek Court approval to launch a sale process for their business and assets (the "Sale Process") as part of the CCAA Proceedings. The Sale Process is expected to be administered by the Ayurcann Group and the Monitor. Additional details in respect of the Sale Process will be disclosed on the Monitor's Website (as defined below) in the course of the CCAA Proceedings.","length":426,"tagName":"p"},{"type":"text","content":"The business operations of the Ayurcann Group are not anticipated to be interrupted as a result of the CCAA Proceedings. It is expected that the Ayurcann Group will eme...