AND IN THE MATTER OF A PLAN OF COMPROMISE OR ARRANGEMENT OF SIRONA PHARMA INC., SUNERA ACREAGE HOLDINGS INC., ACREAGE DEVELOPMENT CORP. and SIRONA FARMS INC.
("the Companies")

EDMONTON, AB, May 25, 2026 /CNW/ - Effective November 21, 2025, the Companies were granted an Order (the "Initial Order") by the Alberta Court of King's Bench (the "Court") and obtained creditor protection under the CCAA. Pursuant to the Initial Order, Ernst & Young Inc. was appointed Monitor of the Companies (the "Monitor").  An Amended and Restated Initial Order ("ARIO") was subsequently granted on November 28, 2025, which was confirmed the continuation of the CCAA and the appointment of the Monitor.

Through the operating entity, Sirona Pharma Inc. ("Sirona"), the Companies were in the business of cultivation, processing and wholesale medical distribution of cannabis. Since the onset of these CCAA Proceedings Sirona has been nonoperational. However, as of May 6, 2026, the Health Canada Licence of Sirona Pharma was reinstated.

Sirona owns a three-building, 126,800 square-foot indoor facility designed for medical cannabis cultivation, processing and distribution (the "Facility"). The Facility is located near Peers, Alberta at 14129 East Bank Road, Yellowhead County, Alberta.

Sale and Investment Solicitation Process ("SISP")

On May 20, 2026, the Court granted an approval of a SISP Order (the "SISP Order") authorizing the Monitor to conduct the SISP for the Companies.  The objective of the SISP is to generate interest in the business, undertakings or assets of the Companies, or a combination thereof in the form of outright offers to purchase or investment proposals.  The deadline for receipt of Qualified Bids as defined in the SISP is June 24, 2026, at 5:00 p.m. MT, which is subject to change/extension by the Monitor.

The Monitor will be showing the Facility by appointment on the following days between 10:00 AM and 4:00PM. To arrange a viewing, please reach out to the Monitor directly.

Tuesday, June 9, 2026;
Wednesday, June 10, 2026; and
Tuesday, June 16, 2026.

For additional information on the SISP and to participate therein, please contact the following representatives of the Monitor:

Matt McCulloch, CA, CPA, CIRP, LIT
Senior Vice President
matt.mcculloch@parthenon.ey.com 

Karen Zahacy CPA, CIRP
Director 
karen.zahacy@parthenon.ey.com 

A copy of the SISP Order can be found on the Monitor's website at www.ey.com/ca/sirona. Further materials, including orders of the Court, Monitor's reports and other information relating to these CCAA proceedings are also included on the Monitor's website. 

If you are unable to obtain a copy of the documents filed on the Monitor's website or have questions about the CCAA proceedings, please contact Karen Zahacy by email at karen.zahacy@parthenon.ey.com or at 1 (780) 412-2384.

SOURCE Ernst & Young Inc.