Delta 9 Cannabis Inc DLTNF

Interesting!

[gnote1]

From Yahoo finance conversations. 

S stated 

“The proposal, which still has to be approved by the courts, also includes FIKA issuing $2 million worth of shares to Delta 9’s shareholders, as well as $4 million in shares to its unsecured creditors. Delta 9 has about $15 million worth of unsecured debt to suppliers. On Tuesday, John Arbuthnot, founder and CEO of Delta 9, said there will be no immediate material change in operations. “The company is not bankrupt and we will continue to operate in the normal course of business,” he said. In an interview, Arbuthnot said the CCAA process will generate about $55 million in value for the company’s stakeholders. “This is an outcome that maximizes value for everyone in what is otherwise a difficult situation.”

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  “Frederico Gomes, an analyst with ATB Capital Markets who covers SNDL Inc., said it is it still possible SNDL might outbid FIKA for Delta 9’s retail locations. “After SNDL bought the debt from third party last week, it seemed pretty clear to us that SNDL was interested in seizing or acquiring the assets of Delta 9, specifically just the retail portfolio of 41 stores,” said Gomes. “In our view, that was the most likely outcome, as of last week.” Gomes said it will depend on the terms and conditions of FIKA’s repayment to SNDL as to how the plan might proceed. “Are they are going to try to repay that in full or maybe try to come to a different arrangement with SNDL? And would SNDL accept it? Or maybe SNDL would try to outbid FIKA?” Gomes said. “That is all uncertain. We don’t know.””

[unoriginal_username]

Thanks gnote , it's been frustrating trying to read all the legal jargon. GLTA 

[VybzKartel]

$55 million?  This can't be real.