ZIP for the Shareholders….RBC loses too!So, it's all decided and done.
Court order shows M4 Group paid $15,800,000
for the assets and ongoing MJ licenses.
From that total, payouts of about $2,929,000 to
the interim "debtor in possession loan", about
$1,000,000 to "The Administrator" who oversaw the CCAA process, $553,777.00 to the Township for past due property taxes and $298,000 to CRA for unpaid amounts.
That leaves about $11,000,000 for RBC less the $75,000 going to the Van Engelens who had loaned EVE about $1,000,000 last year about this time.
RBC was owed $17,452,673 so they are taking
about a $6,500,000 loss.
Not sure how Mel R did overall, but she got ZIP for her millions of shares...and a nice Trophy from RBC a couple years ago.
Absolutely NOTHING to the shareholders.