Item 2
Date of Material ChangeDecember 2, 2019 and December 5, 2019
Item 3
News ReleaseTwo news releases in respect of the material changes were disseminated on December 2, 2019 and December 5, 2019, respectively, through the facilities of GlobeNewswire and were filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) following dissemination. A copy of each news release is available on SEDAR at www.sedar.com.
Item 4
Summary of Material ChangeOn December 2, 2019, the Company announced that the Company, Maricann Inc. and NanoLeaf Technologies Inc. (collectively, the “Wayland Group”) were granted an order (the “Initial Order”) from the Ontario Superior Court of Justice (Commercial List) (the “Court”) under the Companies’ Creditors Arrangement Act(the “CCAA”). The Initial Order provides for, among other things, a stay of proceedings in favour of the Wayland Group and certain of its affiliates for an initial period of 10 days (the “Stay Period”), subject to extension as the Court deems appropriate, and the appointment PricewaterhouseCoopers Inc. as monitor (the “Monitor”) in the CCAA proceedings. On December 5, 2019, the Company announced that the Wayland Group was granted an order (the “Amended and Restated Initial Order”) by the Court. The Amended and Restated Initial Order authorized, among other things, the Wayland Group to obtain debtor-in-possession financing from The House of Turlock Ltd. (the “DIP Lender”). The Amended and Restated Initial Order also extended the length off the Stay Period to December 16, 2019. The Company also announced on December 5, 2019 that its auditor, NVS Chartered Accountants (“NVS”), resigned as auditor of the Company effective as of December 3, 2019 and that the Company had determined that it will not consummate its previously announced transaction involving Theros Pharma Ltd. in the United Kingdom (the “Theros Transaction”)