March 12, 2025

On March 12, 2025, the Monitor issued a Monitor’s Certificate that certifies, to the knowledge of the Monitor, all matters to be attended in connection with 1001065113 Ontario Inc’s (the “Applicant”) CCAA Proceedings, as determined by the Monitor, have been completed; and the CCAA Termination Date occurred on March 4, 2025, being the date of the bankruptcy of the Applicant.

November 28, 2024

On November 28, 2024, the Court approved the Stalking Horse Transaction and the Monitor issued the Monitor’s Certificate on November 29, 2024.

October 28, 2024

Notice regarding the sale and investment solicitation process (the “SISP”) in respect of the Applicants. Capitalized terms used below have the meaning given to them in the Sale Process Approval Order granted by this Court on September 18, 2024 (the “SISP Order”). The SISP Order can be accessed here.

• Pursuant to the SISP Order and in accordance with the milestones set forth in paragraph 7 of the SISP, the Monitor has canvassed the market to solicit interest in, and opportunities for, a sale of, investment in or recapitalization of Tokyo Smoke.
   
• Following the Phase 1 Bid Deadline, the Monitor, in consultation with the Companies, reviewed the submissions received prior to the Phase 1 Bid Deadline for aspects of Tokyo Smoke’s Business.
   
• Following such review, pursuant to the SISP, the Monitor, in consultation with the Companies and BMO, determined in its reasonable business judgment that it would not be appropriate to select any Phase 2 Qualified Bidders. 
   
• Accordingly, the Monitor, in consultation with the Companies, has terminated the SISP and declared the Stalking Horse Bidder as the Successful Bidder.
   
• The Monitor understands that the Companies will be filing a motion seeking Court approval of the Stalking Horse Agreement as soon as reasonably practicable.

August 28, 2024

On August 28, 2024, 2675970 Ontario Inc. and certain of its subsidiaries and affiliates (listed below and collectively, “Tokyo Smoke” or the “CCAA Applicants”) commenced proceedings under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”) pursuant to an initial order (the “Initial Order”) of the Ontario Superior Court of Justice (Commercial List), in order to restructure its operations. Pursuant to the Initial Order, Alvarez & Marsal Canada Inc. was appointed as monitor of Tokyo Smoke in the CCAA proceedings (in such capacity, the “Monitor”). 

CCAA Applicants
2675970 Ontario Inc.
2733181 Ontario Inc.
2385816 Alberta Ltd.
2161907 Alberta Ltd.
2733182 Ontario Inc.
2737503 Ontario Inc.
2826475 Ontario Inc.
14284585 Canada Inc.
2197130 Alberta Ltd.
2699078 Ontario Inc.
2708540 Ontario Corporation
2734082 Ontario Inc.
TS Wellington Inc.
2742591 Ontario Inc.
2796279 Ontario Inc.
10006215 Manitoba Ltd.
80694 Newfoundland & Labrador Inc.