Grow Opportunity

Covid-19 Updates News Business Management
Lift & Co. files for bankruptcy


September 22, 2020
By Grow Opportunity staff

Topics

Lift & Co. Corp. encounters even more challenges amidst the pandemic.

On Sept. 17, the company announced that it has made voluntary assignment into bankruptcy and that all of its directors and officers have resigned. Prior to the onset of the COVID-19 pandemic, Lift & Co. had been negotiating a significant equity investment in its events division by a global strategic investor. The proceeds would have been used in an effort to accelerate the growth of its marketing division, the company said. The potential transaction has since been aborted.

Lif & Co. was also scheduled to host two cannabis industry expos this year in Toronto and in Vancouver. Due to event restrictions caused by the pandemic, both events have been cancelled. The company later announced a virtual expo on Nov. 17-19, however few details are available for the event.

Lift & Co. has also missed its Sept. 14 deadline for the filing and delivery of the financial statements and management’s discussion and analysis for its fiscal year ended March 31. The deadline was an extension from its original July 29 deadline by the Ontario Securities Commission.

Advertisment