James E. Wagner Cultivation (TSXH: JWCA) has received approval to begin the Sale and Investor Solicitation Process (SISP) under its previously announced court-ordered creditor protection. Under the process, Trichome Financial (CSE: TFC) has submitted its previously agreed to stalking-horse bid for all of James Wagner’s assets.
The sale and investor solicitation process is to be carried out by Stoic Advisory, while KSV Kofman is to act as the monitor for the CCAA proceedings. Howard Capital, who’s sole member is Trichome’s Howard Steinberg, has also been appointed as Wagner’s Chief Restructuring Officer to guide the company through the process.
In connection with the stalking horse bid offered by Trichome, James Wagner is currently looking for bids for all of its assets that are equal to or in excess of $11.95 million. The company is also entertaining partial bids for assets, provided the final sales arrangements for all assets exceeds the current bid offered by Trichome.
Sponsored · Altamira Gold Corp.
As of December 31, James Wagner reported total assets of $40.7 million, while listing liabilities of $19.5 million.
The stay of proceedings under James Wagner’s creditor protection has been extended to June 26, 2020 in connection with the sale and investor solicitation process.
Information for this analysis was found via Sedar, and James Wagner Cultivation. The author has no securities related to this organization. James Wagner Cultivation was previously a client of CanaCom Group, the parent company of The Deep Dive. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
4 Responses
Isn’t this the company that nerd Ben works for?
Nah I think he quit.
Ben’s a talented writer. Always enjoy his work.
James Wagner was trash from day one.
They were trying to sell Bug Light in a town of IPA drinking millennials.
Swish swash baby.
Rabble Rabble Rabble!