MJBizMag November-December 2022 - 26

COMPANY NEWS U.S., Canada & International
Canadian Grower Sugarbud
Seeks Creditor Protection
Calgary, Alberta-based cannabis
producer Sugarbud Craft Growers
Corp. is seeking creditor protection.
The company said in a news
release that " it is likely to default
on several material debtor agreements
due to ongoing liquidity
constraints. "
Sugarbud and its subsidiaries
have filed notices of intention to
make a proposal under Canada's
Bankruptcy and Insolvency Act
(BIA), then potentially convert those
BIA proceedings into Companies'
Creditors Arrangement Act (CCAA)
proceedings " should management
determine that CCAA proceedings
would be more appropriate. "
The notices of intention allow for
a temporary stay of proceedings
against Sugarbud as it " (pursues)
available options to maximize the
company's value for stakeholders. "
Shares of Sugarbud trade on the
TSX Venture Exchange.
Little Green Pharma Inks
Cannamedical Supply Deal
Australian cannabis producer Little
Green Pharma struck a deal to
supply highTHC
medical
marijuana
to Cologne,
Germany-based Cannamedical.
It's the fourth medical cannabis
supply agreement the Australian
company has entered with wholesalers
and distributors in Germany.
Cannabis for the latest contract
will come from Little Green Pharma's
wholly owned subsidiary in
Denmark, the company said in a
news release. The product has a
potential value of more than
$4.5 million over two years.
Alberta and Quebec Reject
Sales of Tyson 2.0 Products
Canadian cannabis producer Hexo
Corp.'s partnership with Tyson 2.0,
boxing legend Mike Tyson's new
company, is off to a rocky start in
Canada.
The provincial wholesalers for
recreational marijuana in Alberta
and Quebec told MJBizDaily they
won't sell the cannabis products in
their respective provinces.
Canadian law bars cannabis
promotions through endorsements
or depictions of people-a fact
noted by Alberta's government-run
wholesaler.
Without going into specifics, a
spokesperson for Quebec's monopoly
wholesaler and retailer said the
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MJBizMag November-December 2022

Table of Contents for the Digital Edition of MJBizMag November-December 2022

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