1776690 Ontario Inc The Country Way Health Food Store

1776690 Ontario Inc., carrying on business as The Country Way Health Food Store, remains in active Division I proposal proceedings begun on January 25, 2022 before the Ontario Superior Court of Justice (Commercial List) under court file CV-21-00661436-00CL, with 2655396 Ontario Inc. as applicant and section 182 of the Ontario Business Corporations Act as the statutory basis. The company's statement of affairs, as at May 1, 2021, reported assets of $102,450 against liabilities of $572,835, comprising $114,450 secured, nil preferred and $458,385 unsecured. Secured obligations reported include approximately $192,000 to TNT Holdco Inc. under a guarantee securing a $250,000 advance toward a $2.2 million share purchase price, approximately $69,595 to Royal Bank of Canada on an operating line and credit card, and a 2017 retail instalment contract with Toyota Credit Canada Inc. on a 2015 Toyota 4Runner. RBC, including a $60,000 CEBA loan, is treated as an unaffected creditor under the proposal. The company advises nothing is owing to employees or other preferred creditors.