Key facts
- Emblem Cannabis Corporation assumes DIP financing for Ayurcann.
- The financing role was transferred from Auxly Cannabis Group.
- This is in connection with Ayurcann's CCAA proceedings.
Emblem Cannabis Corporation, a wholly owned subsidiary of Red White & Bloom Brands, has assumed the role of debtor-in-possession (DIP) lender for Ayurcann. This transition occurred following an assignment from Auxly Cannabis Group. The DIP financing is part of the Companies' Creditors Arrangement Act (CCAA) proceedings initiated by Ayurcann. This move signifies a shift in financial support for Ayurcann as it navigates its restructuring process under court protection.