KSV Advisory Canada’s Leading Boutique Advisory, Restructuring and Valuations Firm.

Tombstone

Vert Infrastructure Ltd.

Vert Infrastructure Ltd. (“Vert”, formerly Crop Infrastructure Corp.) marketed itself as being involved in the branding, investing, constructing, owning and leasing of infrastructure for licensed or specialty agricultural businesses, including cannabis. Vert raised funds to acquire what were intended to be hemp and THC producing properties, principally in Washington, Nevada and California. Vert held the properties via Limited Liability Companies. Vert’s registered office is in British Columbia and its common shares were publicly traded on the Canadian Securities Exchange.

KSV was appointed as receiver and manager of Vert pursuant to an application brought by Vert’s senior secured lenders. KSV performed diligence on the status of Vert’s assets and worked with Canadian and US counsel to develop and implement realization processes. The processes considered, among other things:

  • the manufacturing, cultivation and production cannabis licenses, including their transferability;
  • historical transactions involving the properties, including their potential uses, restrictions and water rights; and
  • title issues, particularly since funds raised by Vert do not appear to have been used for their intended purpose and resulted in certain properties being registered to companies not owned by Vert.
KSV completed a transaction for a 315-acre property located in Nye County, Nevada. It also completed a transaction for Vert’s public listing via a process similar to a Reverse Vesting Order, the first to be utilized in Canada in the context of a receivership.