Calgary company purchases Delta 9's cannabis debt

Delta 9 lays off employees amid cultivation cuts A large Winnipeg cannabis company is shrinking cultivation and staff to cut costs. Taylor Brock explains

A Calgary-based company has officially purchased the debt of a Manitoba-based cannabis chain.

SNDL Inc. announced on Friday it had completed the purchase of the debt held by Delta 9 Cannabia from Connect First and Servus Credit Union. According to a news release, SNDL bought the debt for $28,138,284.

“As a result of the Debt Acquisition, SNDL has become Delta 9's senior secured creditor with a first priority security interest in all of the assets of Delta 9 and certain Delta 9 subsidiaries,” said a news release touting the sale.

Delta 9’s total debt owed to SNDL now sits at over $40 million.

Last year, the company laid off 40 workers due to struggles with its cultivation and wholesale outlets.