BC-based TRYGG Collective has acquired cannabis processor Tricanna Industries through a court-approved RVO process, says TRYGG CEO and Founder Fabrizio Rossi.
Tricanna, also based in British Columbia, initially filed a Notice of Intention (NOI) on February 5, listing $3.2 million in liabilities. The company listed $2.9 million in unsecured debt and $1.7 million in secured debt, for a total of more than $4.6 million.
On February 2, 2025, Tricanna entered into a subscription agreement with Rossi, reflecting a renegotiated offer that was said, at the time, to be intended to close by way of an RVO.
“This move brings our vision full circle: an amazing house of brands, cutting-edge pre-roll technology, and a fully licensed processing facility in the Lower Mainland, BC,” said Rossi in a post on Linkedin on March 17. “With three Blackbird by RollPros, two PreRoll-Er, infused pre-roll equipment, and pallets of product already moving through the facility, TRYGG Collective has cemented itself as the dominant pre-roll and co-manufacturing player in Western Canada.”
“A huge thank you to our partners who stood by us through this gut-wrenching process, and a special recognition to the Tricanna Industries Inc. team for their dedication and resilience in ensuring another cannabis venture didn’t fade into the night.”
Founded in early 2022, TRYGG provides packaging and processing options for Canada’s small, craft cannabis growers.
TriCanna’s NOI in February stated that Rossi had been discussing the possibility of purchasing Tricanna since early January 2025, for $200,000.
Between January 2 and February 2, 2025, Tricanna founder Dayna Lange negotiated with Rossi to increase the purchase price. The renegotiated offer was expected to pay out Community Savings Credit Union, which had previously provided a total approved credit facility for Tricanna worth $250,000. Even though Community Savings is the first secured holder, they have clarified with StratCann that they are not owed any money.
Tricanna says it has recorded operating losses since its June 18, 2018 incorporation. The company was first licensed by Health Canada in 2020 and has provided cannabis processing services for numerous cannabis companies, many of which are listed as unsecured creditors of Tricanna.
This article has been updated to clarify that Community Savings Credit Union has no outstanding debt with Tricanna.
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