For further information contact:

 

Kristin Gray 

Phone: 780-809-1224

kgray@bowragroup.com

 

 

Destiny Bioscience Global Corp. and Destiny Biotech Inc.

 

Overview:

 

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 Queen’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.

Sales Process:

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.

https://destinybioscienceportfolio.com/

 

Mark Swaenepoel                                       Andrew Simpson

Vice President                                              Vice President

+1 780 969 3037                                          +1 780 969 3001

Mark.swaenepoel@colliers.com              Andrew.simpson@colliers.com

Application Materials: 

Emergency Hearing Order – May 8, 2020

Consent to Act – May 12, 2020

Receivership Application – May 12, 2020

Brief of Synergy for Receivership Application– May 12, 2020

Affidavit of Tim Varughese – May 12, 2020

Affidavit of Tim Varughese in opposition of application – May 15, 2020

Brief of Synergy in Response to opposition of application – May 15, 2020

Application by Receiver for Order Increasing Borrowing Power and Other Relief

Letter to Service List – August 4, 2020

Letter to Court Coordinator – August 4, 2020

First Report to Court – August 4, 2020

Court Orders: 

Receivership Order – May 22, 2020 (2003 07758)

Receivership Order – May 22, 2020 (2003 07757)

Order Increasing Borrowing Power and Other Relief – August 17, 2020

Lien Claims Adjudication Order – August 17, 2020

 

 

 

Vancouver Office: 

PO Box 72, Bentall One

505 Burrard Street, Suite 430

Vancouver, B.C.  V7X 1M3

Tel: 604 689 8939

Fax: 604 689 8584

Edmonton Office: 

TD Tower

Suite 1411 – 10088 102 Avenue

Edmonton, AB T5J 2Z1

Tel: 780 809 1224

Fax: 780 705 1946

 

 
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© The Bowra Group.