The Bowra Group Inc. was appointed Receiver Manager (the “Receiver”) of Destiny Bioscience Global Corp. and Destiny Biotech Inc.. ( collectively the “Companies”) on May 22, 2020 pursuant to a Court Order of the Court of King’s Bench of Alberta.
Destiny Bioscience Global Corp. (“Destiny”) is a private company originally incorporated on May 28, 2014, under the laws of the Province of Alberta. Destiny is a science-based cannabis genetics and cultivation inputs research and development company. Destiny constructed and operated out of a facility in Nisku, Alberta. Phase I of the Nisku facility is a completed purpose-built 90,000 sq. ft. organics building. Phase II is a state-of-the-art 194,065 sq. ft. genetics Lab still under construction. Destiny Biotech Inc. is a 100% owned subsidiary of Destiny.
The Receiver, through its agent Colliers International, is requesting offers to purchase the Companies assets comprising of 902/904 – 9th Avenue, Nisku and 3496 – 63 Avenue, Leduc (the “Portfolio”). The Portfolio consists of 3 buildings on two separate titles. The Portfolio is being offered for sale as a package or individually and consists of:
PROPERTY 1: Two buildings (1a & 1b) totaling 284,065 SF of state-of-the-art industrial buildings on 25.31 acres of leased land. There is the potential to subdivide the land if required.
1a: Genetics Building: 902 – 9th Avenue, Nisku, Alberta
194,065 SF of high-quality industrial including plans for 48,000 SF of campus style office
The building is 75% complete, allowing a user or investor flexibility in finishings
16’ – 21’ clear
Heavy power (2.8 MW)
Dock loading with the ability to ramp to grade or create a quasi cross-dock facility
1b: Organics Building: 904 – 9th Avenue, Nisku, Alberta
90,000 SF shop/warehouse including fully finished office area
Dock and grade loading with ability to add additional doors
Energy efficient features and extensive HVAC systems
Heavy duty floor slab
Crane capable with ± 113’ wide span in each of two bays
17′ – 21’ clear
Income in-place with current tenant or available vacant
PROPERTY 2: Leduc Micro Cultivation & Lab Building:
3496 – 63rd Avenue, Leduc, Alberta
11,040 SF lease interest in a state-of-the-art cannabis cultivation and lab facility
90% complete, planned for EUGMP certification
Designed for cannabis cultivation, extraction lab, genomics lab, and tissue propagation lab
State-of-the-art, cannabis specific mechanical systems installed
Attractive lease terms with 2 x 5 year renewal options
The Portfolio is being offered to the market on an unpriced basis. Access to the Portfolio’s online due diligence data room is available to qualified parties upon execution of a confidentiality agreement. Interested parties are invited to submit an offer to purchase on the entire portfolio, or individual properties on OCTOBER 15, 2020 BEFORE 4:00 PM MST through Colliers for consideration by the Receiver on the Receiver’s form of offer which is provided in the online due diligence data room.
For additional information on the listing please consult the website below or contact the undersigned.
Mark Swaenepoel Andrew Simpson
Vice President Vice President
+1 780 969 3037 +1 780 969 3001
The Receiver in accordance with its powers under and pursuant to the Receivership Orders, is applying to the Court for an Order approving the sale of the Companies’ assets and vesting title to a purchaser free and clear of all encumbrances. The Receiver’s application is scheduled to be heard at the Edmonton Law Courts at 10:00 a.m. MST on Tuesday November 17, 2020. Please be advised that due to rising COVID-19 concerns the application will be proceeding by way of teleconference. There is no necessity for you to attend however, should you wish to appear please contact Kristin Gray (firstname.lastname@example.org) to make arrangements. All application documents, including, the Receiver’s Second Report to Court dated November 9, 2020 are posted below.
On November 17, 2020 the Court of King’s Bench of Alberta granted Orders vesting title and approving the sale of the Company’s assets to Caza Financial Inc.