Cannabist Launches CCAA Restructuring, Sells Delaware and Ohio Assets for $63.5 Million

Cannabist announced multiple agreements tied to a court-supervised restructuring, including sales of its Delaware and Ohio operations totaling $63.5 million. In Delaware, Parma Holdco will acquire assets for $16.5 million, with escrowed amounts for indemnities and adjustments and a $3.3 million deposit due shortly after signing. In Ohio, Holistic Industries will purchase all equity of Cannabist’s subsidiaries for $47 million, comprising $34.5 million at closing and a $12.5 million note, plus an option and funding framework for an additional location. Cannabist also secured a Support Agreement with noteholders representing about 60% of its secured notes to back the sale program and CCAA process, subject to regulatory, court, and noteholder approvals.Agreement 1: Cannabist to Sell Delaware Assets to Parma Holdco for $16.5 Million With Escrow ProtectionsAgreement type: Asset purchase agreement for Delaware assetsCounterparty: Parma Holdco; Millstreet Credit FundSigned / Effective: Mar 23 2026 / sameDuration / Termination: Until closingReason: Raise liquidity and exit Delaware operationsAgreement 2: Cannabist Sells Ohio Operations to Holistic Industries in $47 Million Cash-and-Note DealAgreement type: Equity purchase agreement for Ohio subsidiariesCounterparty: Holistic IndustriesSigned / Effective: Mar 23 2026 / sameDuration / Termination: Until closingReason: Monetize Ohio assets to support restructuringAgreement 3: Cannabist Secures Noteholder Support Agreement to Back Asset Sales and Canadian CCAA ProcessAgreement type: Support Agreement for restructuring and asset salesCounterparty: Supporting NoteholdersSigned / Effective: Mar 23 2026 / sameDuration / Termination: At willReason: Obtain creditor backing for restructuring and salesOriginal SEC Filing: Cannabist Co Holdings Inc. [ CBSTF ] - 8-K - Mar. 24, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.