Canada — March 9th, 2026 — Darwynn Ltd. (“Darwynn” or the “Company“), a rapidly growing North American fulfillment and logistics technology company, today announced that it has secured $2 million of (DIP) financing by our Major Shareholder (2379338 Ontario Inc)as part of its restructuring proceedings (the “CCAA Proceedings”) under the Companies’ Creditors Arrangement Act (CCAA), which were commenced on February 26, 2026. Ernst & Young Inc. has been appointed as monitor of the Company in the CCAA Proceedings (in such capacity, the “Monitor”).
The DIP financing will enable Darwynn to continue focusing on operations and improvements in the ordinary course and, with the Monitor, develop a strategic sale and investment solicitation process to pursue alternatives and develop a transaction that will allow Darwynn to emerge from the CCAA Proceedings as a stronger company with an improved long-term growth trajectory.
The CCAA Proceedings were commenced in response to prolonged board deadlock and governance issues that impaired the Company’s ability to take necessary steps to preserve the business and meet its critical liquidity needs.. Together, the CCAA Proceedings and access to DIP financing will enable Darwynn’s management team to continue operating the business in the normal course while working with the Monitor to develop a restructuring plan.
“Securing this financing marks an important step forward for Darwynn,” said Reza Bafandeh, CEO of Darwynn. “Our operations remain strong, our management team remains fully in place, and our commitment to our customers and partners is unchanged. This financing allows us to continue delivering the high level of service our clients expect while we work through a process to resolve governance matters.”
Darwynn currently supports hundreds of brands across Canada and the United States, providing national fulfillment, distribution, and last-mile delivery services through a growing network of facilities and carrier integrations. The Company remains focused on continued expansion, including strengthening its relationships with major retailers and exploring additional distribution capabilities in the United States.
“Our priority is continous improvement and continuity,” added Bafandeh. “Customers should expect a continued focus on excellence — with the same team, the focused SLA based service , and an even stronger operational foundation as we move forward.”
Additional information regarding the CCAA Proceedings, including copies of the Court materials filed in the CCAA Proceedings, is available on the Monitor’s case website: www.ey.com/ca/darwynn.
About Darwynn
Darwynn is a technology-enabled fulfillment and logistics platform supporting B2B and direct-to-consumer distribution for brands across North America. The company integrates fulfillment, national distribution, and last-mile delivery services through a network of facilities and carrier partners, enabling brands to scale efficiently across multiple sales channels.
