James E. Wagner Cultivation Corporation announces a cease trade order was issued by the Ontario Securities Commission on July 29, 2020 for failure to file its interim financial statements for the three months ended March 31, 2020, including the related management discussion and analysis and interim filing certifications.
As previously announced, in connection with its creditor protection proceedings under the Companies’ Creditors Arrangement Act and previously announced Sales and Investor Solicitation Process (SISP) that concluded with Trichome Financial Corp. emerging as the “Successful Bidder”, the Corporation and its subsidiaries received authorization from the Ontario Superior Court of Justice (Commercial List) to complete the sale of substantially all of the JWC Group’s assets, as contemplated by the SISP, to an affiliate of Trichome Financial. The closing of the Transaction is currently set to occur on or before August 31, 2020, provided that all remaining conditions are satisfied. As previously disclosed, based on the consideration to be received by the JWC Group under the Transaction, holders of the Corporation’s common shares will not receive any payments for, or distributions on, their common shares in connection with the transaction or the CCAA proceedings.
James E. Wagner Cultivation Corporation’s wholly owned subsidiary is a Licensed Producer under the Cannabis Regulations, formerly the Access to Cannabis for Medical Purposes Regulations (“ACMPR“). JWC’s operations are based in Kitchener, Ontario. Learn more at www.jwc.ca. For additional information about JWC, please refer to JWC’s profile on SEDAR (www.sedar.com) or the Corporation’s website: www.jwc.ca.