On November 3, 2023, the Court of King's Bench of Alberta granted an order appointing Alvarez & Marsal Canada Inc. (A&M) as the receiver and manager of Ogen Ltd. and Ogen Holdings Ltd. and its current and future assets, undertakings, and properties of every nature and kind whatsoever, and wherever situate, including all proceeds thereof, except for certain Excluded Assets (as defined in the Receivership Order).
Ogen is an Alberta-based company that is engaged in the business of cultivation and production of cannabis with property and a manufacturing facility in Calgary, Alberta. Ogen's main asset is its real property, including the land, building, and equipment located at 5430 30 Street SE, Calgary AB. The approximately 57,000-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 16 grow rooms and was formerly one of the largest indoor cannabis operations in Alberta.
On February 16, 2024, the Court granted an order (the SISP Order) allowing the receiver to commence a Sale and Investment Solicitation Process with the assistance of the Canadian Cannabis Exchange. The SISP has been designed to solicit interest in an acquisition, investment in, restructuring of, or refinancing of the business or sale of the assets and/or business of Ogen. The SISP is being conducted in accordance with the procedures included in the SISP Order, which is included on the receiver's website: www.alvarezandmarsal.com/Ogen
For more information:
A&M
www.alvarezandmarsal.com