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Retail investors need a voice in Bridging Finance case, lawyers argue
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25,000 vulnerable Bridging Finance investors fight for a voice in probe
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MJardin eyes restructuring amid fallout from Bridging Finance scandal - Article
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Tilray Inc. has paid off the debt it owed to Bridging Finance Inc., the Toronto-based private lender thatâs facing allegations of self-dealing and misappropriation of funds.
Bridging Finance s activities have been in the spotlight this month after Ontario Securities Commission (OSC) staff detailed allegations relating to conflicts of interest, misappropriated funds, and inadequate disclosure. That led the regulator to request the Ontario Superior Court to appoint PricewaterhouseCoopers Inc. to manage Bridging Financeâs affairs. None of the claims have been proven in court or before the OSC.
Tilray first took out a loan facility for its Canadian subsidiary with Bridging Finance in Feb. 2020 that would allow the cannabis producer to borrow up to $79.8 million. The loan came with an annual interest rate of prime plus 8.05 per cent and was set to mature next February.