Cannabis technology and expo events firm
Lift & Co. (
TSX-V: LIFT) has filed for bankruptcy,
the company recently reported.
The Toronto-based company behind the ‘Canadian Cannabis Awards’ announced it made to move to file for bankruptcy after failing to reach a deal with its debt holders regarding the sale of some of its assets. As a result, all of its directors and officers have resigned, Lift said.
Lift said it had plans to sell a stake in its events business prior to the pandemic, but the deal shortly failed sometime later. It’s unclear what will happen to Lift’s CannSell business, which Ontario retailers use to train staff to sell cannabis, as well as its biannual events, which it recently announced plans to hold as virtual shows later this year.
New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks.
For more of the latest info on Cannabis, check out the Cannabis Trending News hub on Stockhouse.