Calgary, AB (Rural Roots Canada) – Monette Farms is asking an Alberta court for permission to sell off hundreds of thousands of acres of farmland across Canada and the United States as part of a restructuring effort tied to nearly $1 billion in debt.

In a June 1 court application, the Saskatchewan-based agricultural giant requested approval for a formal Sale and Investment Solicitation Process (SISP) to solicit proposals for the sale of land and farm assets, new investment, refinancing, or some combination of the four.

The proposal could see approximately 274,000 acres of farmland listed for sale in British Columbia, Alberta, Saskatchewan, Manitoba, Montana, Colorado and Arizona. The company also leases another 218,000 acres.

If the court approves the restructuring plan, Monette would hire real estate brokers to market individual land parcels or entire farm operations almost immediately. Binding offers would be due by Oct. 15, with the sales process expected to continue through November.

RELATED: Monette Farms Ltd. files for creditor protection

Monette Farms entered creditor protection in April under the Companies’ Creditors Arrangement Act after a major lending agreement worth more than $829 million came due. Court filings place the company’s liabilities at roughly $1 billion.

The company is also seeking an extension of creditor protection until Nov. 13, arguing it needs more time to complete the 2026 growing season while carrying out land sales and restructuring efforts.

This filing comes after months of efforts to reduce debt through asset sales. Earlier court proceedings confirmed the company had already sold parcels of farmland in Saskatchewan and liquidated its cattle operations, fully repaying a $30-million loan owed to Farm Credit Canada.

Monette has maintained the restructuring process is about stabilizing operations, not an outright shutdown. The company says farming operations continue across its Canadian and U.S. holdings while it seeks buyers, investors and refinancing partners.