On March 6, 2023, the Court of King's Bench of Alberta granted an order appointing Alvarez & Marsal Canada Inc. as the receiver and manager of Candre Cannabis and its current and future assets.
Candre is an Alberta-based company that is engaged in the business of cultivation and production of cannabis with property and a manufacturing facility and operations near Sundre, Alberta. Candre's main assets were its real property, including the land, building, and equipment located at 819 5th Avenue SW, Sundre Alberta (the "Facility"). The 34,335-square-foot Facility has been equipped with industry-leading mechanical and electrical systems to facilitate the reliable and large-scale production of agricultural products, including but not limited to cannabis. The Facility hosts fifteen grow rooms, each with a 32-foot ceiling height.
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