The next chapter for a Chatham cannabis grower could include a sale or a merger.
AgMedica was granted creditor protection in early December by the Ontario Superior Court of Justice but is now searching for possible investors or buyers after the court directed the company to undertake a sale and investment solicitation process. The process is intended to solicit interest in restructuring and/or refinancing AgMedica's business, or selling its assets and/or business. It may include a merger, reorganization, recapitalization, primary equity issuance or other similar transaction.
Ernst and Young is the court-appointed monitor of the creditors and said all qualified interested parties will be given an opportunity to participate in the sale and investment solicitation process.
The process will take place in two phases with the deadline for the first phase set for March 20, 2020.
AgMedica currently supplies the Canadian and Australian markets and has partnerships with various organizations around the world to support its vision for the future growth of the cannabis industry.
