Cannabis Extension Agreements

  • Some cannabis businesses may not have the ability to generate sufficient cash to settle with creditors, but the business may be able to become rehabilitated and repay creditors over a period of time from funds generated by continuing operations.
  • The key to success in this type of case is an extension of time granted to the company within which to repay creditors.
  • The terms and conditions of extension programs are negotiated between the business and a creditors’ committee, with the assistance of CannaForm.
  • Once an agreement is reached, CannaForm provides a written report detailing the debtor’s proposal to all creditors for their review and consent.
  • During the extension period, regular payments are received by CannaForm and deposited in special trust funds for periodic distribution to all unsecured creditors on a pro-rata basis. CannaForm works with the creditors’ committee in monitoring the debtor’s operations and keeps creditors informed, by way of written reports, of the status of the debtor’s operations and its compliance with the terms and conditions of the extension agreement.
how can we help you?

Contact us at the CannaForm office nearest to you or submit a business inquiry online.

Cannabis financial Services and Solutions

Cannabis Debt Collection

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Cannabis Financial Advisory Services

Our cannabis transaction expertise and leadership in the field of valuation inspire confidence in the financial executives, boards of directors, special committees, investors, and business owners we serve.

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Cannabis Go-to-Market Programs

As customers and partners struggle with evolving business needs in today’s cannabis world, a more holistic approach is required to ensure the effective management of your go-to-market programs.

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Cannabis financial strategy

Covering all areas of the medicinal and adult-use cannabis industry

Cultivation

CannaForm is here to assist with indoor, outdoor, and everything in between.

Manufacturing

Edibles, extractions, and all of your manufacturing needs.

Retail

Whether it’s the first location in a new jurisdiction or a Type 9 delivery business in Oakland, we are here to help.

Distribution

Standalone distributor, microbusiness, or vertically-integrated international, CannaForm is at your side.

contact CannaForm today!