CannTrust: CannTrust Secures $11.2M With New Investment Partners, Plans To Exit CCAA Proceedings

CannTrust Holdings Inc. has secured new investment partners, led by Marshall Fields International B.V., a subsidiary of Kenzoll B.V., a Netherlands-based private equity investment company. The Ontario court of justice approved a proposed transaction pursuant to the companies creditors' arrangement act, along with an extension of its stay order until the earlier of March 25, 2022 or closing of the transaction, at which time the company expects to exit from its CCAA proceedings. Under the proposed transaction, an investor group led by Marshall Fields has agreed to provide a $5.5 million debtor-in-possession loan to CannTrust Equity Inc. and CannTrust Inc. which will rank behind ...Full story available on Benzinga.com