Proceedings.

Athabasca Minerals Inc., 2132561 Alberta Ltd., 2140534 Alberta Ltd., AMI Aggregates Inc., AMI RockChain Inc., AMI Silica Inc. and TerraShift Engineering Ltd.

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Active
Proceeding
NOIthe Bankruptcy and Insolvency Act, RSC 1985, c B-3, as amended
Court
Court of King's Bench of Alberta
File
25-3009380
Industry
Mining · Quarries, aggregates & industrial minerals
Filings held61
Last activity28 Nov 2025
On the record1,088 days
Secured debtSubscribers
OverviewSummary updated

Athabasca Minerals Inc., together with AMI Silica Inc., AMI Aggregates Inc., AMI RockChain Inc., TerraShift Engineering Ltd., 2132561 Alberta Ltd. and 2140534 Alberta Ltd., each filed a notice of intention to make a proposal to creditors on November 13, 2023 under Part III of the Bankruptcy and Insolvency Act, RSC 1985, c B-3, as amended. The proceedings are before the Court of King's Bench of Alberta, in Bankruptcy and Insolvency, under court file number 25-3009380, and remain active. A preliminary list of creditors submitted by AMI Silica Inc., without admission as to liability, records JMAC Energy Services LLC c/o Field LLP as a secured creditor for CAD 2,000,000 and the Department of Finance Canada as an unsecured creditor for CAD 60,000, each as of November 13, 2023.

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Case updates61 dated entries
#Report

The officer filed report no. First Report of KSV Restructuring Inc. as Trustee in Bankruptcy. ResidualCo has no ongoing business operations; the Trustee is winding down the bankruptcy estate by resolving creditor claims, addressing complex tax issues (TCP/PUC/vesting) arising from the RVO transaction, and seeking Court approval to make further interim distributions to creditors and equity claimants before eventual discharge.

Source: First Report of the Trustee filed November 12, 2025

Parties

Debtor

Athabasca Minerals Inc., 2132561 Alberta Ltd., 2140534 Alberta Ltd., AMI Aggregates Inc., AMI RockChain Inc., AMI Silica Inc. and TerraShift Engineering Ltd.

Proposal trustee

AlixPartners

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice NeilsonCourt of King's Bench of Alberta4 orders, Apr 202463 cases on record
Justice JohnstonCourt of King's Bench of Alberta2 orders, Nov 202555 cases on record
Justice LittleCourt of King's Bench of Alberta2 orders, Mar 202459 cases on record

Counsel of record

PartyCounselFirst seenSource
Proposal trusteeKSV Restructuring IncBennett Jones LLP11 Nov 2025Service list · 11 Nov 2025
DebtorAthabasca Minerals Inc., 2132561 Alberta Ltd., 2140534 Alberta Ltd., AMI Aggregates Inc., AMI RockChain Inc., AMI Silica Inc. and TerraShift Engineering Ltd.Fasken Martineau DuMoulin LLP11 Nov 2025Service list · 11 Nov 2025
CreditorAuditors to (Grant Thornton)Blake, Cassels & Graydon LLP11 Nov 2025Service list · 11 Nov 2025
CreditorInterested (Badger Mining Corporation)Blake, Cassels & Graydon LLP11 Nov 2025Service list · 11 Nov 2025
Secured creditorJMAC Energy Services LLCField Law11 Nov 2025Service list · 11 Nov 2025
CreditorMaster Plan Investment Limited (Shareholder debtholder)Miller Thomson LLP4 Mar 2024Application · 4 Mar 2024
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredJMAC Energy Services LLC c/o Field LLPPreliminary list of creditors as submitted by AMI Silica Inc., without admission as to liability — debtor: AMI Silica Inc. · as of 13 Nov 2023$2MAMI Silica Inc. - NOI Notice to Creditors dated November 15, 2023
8Unsecured

1 more claim in 1 class The stack holds Secured and Unsecured claims.

Every creditor and every amount, drawn to scale.

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Sale processAs stated in the filings

4 transactions · 2 back-up bid · 1 closed · 1 not completed — Transaction closed; ResidualCo established, entities exited NOI ProceedingsFirst Report of the Trustee filed November 12, 2025 · 10 Nov 2025

Parties solicited

100

Third Report of the Proposal Trustee dated February 29,…

NDAs signed

16

Third Report of the Proposal Trustee dated February 29,…

Bids received

2

Third Report of the Proposal Trustee dated February 29,…

Bid deadline (round closed)

31 January 2024

SISP

Break fee

Subscribers

SISP

Stalking horse

JMAC Energy Services LLC · Subscribers

First Report of the Trustee filed November 12, 2025

PurchaserPriceStatusSource
JMAC Energy Services LLCthe sale of the Membership Units held by AMI in AMIS LLC · asset sale · ResidualCo: ResidualCo · agreement 28 Mar 2024SubscribersBack-up bidoutside 12 Mar 2024Fourth Report of the Proposal Trustee dated…
JMAC Resources Ltd.a transaction for the sale of all of the shares of AMI to JMAC Resources Ltd. · share subscription · agreement 28 Mar 2024SubscribersBack-up bidFourth Report of the Proposal Trustee dated…
Badger Mining CorporationStalking horsethe reverse vesting share transaction (the "Transaction") in respect of AMI · share subscription · agreement 9 Feb 2024SubscribersClosed26 Apr 2024First Report of the Trustee filed November 12,…
JMAC Energy Services LLCCredit bidcertain of the Companies' Property or its shares, as detailed in the Stalking Horse Term Sheet · share subscription · agreement 5 Dec 2023SubscribersNot completedFirst Report of the Trustee filed November 12,…
AdvisorsCanaccord Genuity Inc. (financial advisor)Transaction Approval Reverse Vesting Order dated April 19, 2024
Closing termsClosing occurs upon delivery of the Proposal Trustee's Certificate confirming satisfaction of conditions and completion of the TransactionsTransaction Approval Reverse Vesting Order dated April 19, 2024
Sealed materialsConfidential Exhibits '1', '2', '3' and '4' to the Churchill Affidavit and Confidential Exhibits '1' and '2' to the Supplemental Churchill Affidavit; Engagement Letter with the Sales Advisor; Key employee retention plan (KERP)Court Order dated December 12, 2023
RecoveriesAs declared or paid

Unsecured creditors: a distribution. JMAC paid in full.FinalFirst Report of the Trustee filed November 12, 2025 · 10 Nov 2025

ClassCreditorClaimsRecoveryBasisSource
Unsecured—proveninterimFinalper the trusteeFirst Report of the Trustee filed November 12, 2025 · 10 Nov 2025
UnsecuredCompanies' creditorsJMAC—paid in fullconditionalEstimatedper the debtorApplication for Replacement DIP Approval · 4 Mar 2024
EquityEquity claimants (Interim Equity Distribution)—interimconditionalper the trusteeFirst Report of the Trustee filed November 12, 2025 · 10 Nov 2025

Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.

3 blurred figures above

The claims and what each class or creditor recovers — each as the filing states it, with its source.

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Estate financialsReported figures — never derived
Total assets at filing

As at ·

Cumulative receipts

$22.8M

As at 8 Nov 2025First Report of the Trustee filed November 12, 2025

Cumulative disbursements

As at

Cash on hand

As at

Professional fees

As at

3 more reported figures, and the total the debtor stated at filing

Each one as the filing states it, with its source.

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Documents
61 filings
DateDocumentFile
Adjournment and Interim Distributions Order filed November 28, 2025
  • Presiding officer Justice Johnston
PDF · Subscribers
Adjournment and Interim Distributions Order dated November 19, 2025
  • Presiding officer Justice Johnston
PDF · Subscribers
Brief of the Trustee (with authorities) filed November 12, 2025PDF · Subscribers
First Report of the Trustee filed November 12, 2025
  • Closing confirmed Closed · 26 Apr 2024 · Badger Mining Corporation
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 9 more extracted facts
PDF · Subscribers
Interim Distribution Application filed November 12, 2025
  • Recovery outcome Entries: per plan · Table missing:
PDF · Subscribers
Service list dated November 11, 2025
  • Counsel Bennett Jones LLP
PDF · Subscribers
Shareholder Memo - 2585929 AB LtdPDF · Subscribers
Notice of Bankruptcy and First Meeting of Creditors dated May 21, 2024
PDF · Subscribers
Proposal Trustee's Certificate filed April 29, 2024
  • Closing confirmed Closed · date not stated · Badger Mining Corporation
PDF · Subscribers
Court Order re Approval of Settlement Agreement dated April 19, 2024
  • Presiding officer Justice J.T. Neilson
PDF · Subscribers
Stay Extension Order dated April 19, 2024
  • Presiding officer Justice J.T. Neilson
PDF · Subscribers
Transaction Approval Order re Backup Bid dated April 19, 2024
  • Closing terms Delivery of the Proposal Trustee's Certificate confirming Closing triggers the reorganization and vesting steps set out in the order.
  • Order date 19 April 2024
  • Presiding officer Justice J.T. Neilson
  • Purchaser Badger Mining Corporation · the reverse vesting share transaction (the "Transaction") in respect of AMI · share sale · approved
  • + 4 more extracted facts
PDF · Subscribers
Transaction Approval Reverse Vesting Order dated April 19, 2024
  • Closing terms Closing occurs upon delivery of the Proposal Trustee's Certificate confirming satisfaction of conditions and completion of the Transactions
  • Order date 19 April 2024
  • Presiding officer Justice J.T. Neilson
  • Residualco ResidualCo
  • + 4 more extracted facts
PDF · Subscribers
Fourth Report of the Proposal Trustee dated April 15, 2024
  • Purchaser Badger Mining Corporation · the sale of substantially all of the Companies' Business and Property via a corporate share transaction · share subscription · proposed; JMAC Resources Ltd. · a transaction for the sale of all of the shares of AMI to JMAC Resources Ltd. · share subscription · back-up bid; JMAC Energy Services LLC · the sale of the Membership Units held by AMI in AMIS LLC · asset sale · back-up bid
  • Recovery outcome Entries: per estimated; per estimated; per estimated; per estimated · Table missing:
  • Stalking horse Subscribers
PDF · Subscribers
Affidavit No. 5 of John David Churchill sworn April 8, 2024PDF · Subscribers
Application for Approval of Settlement Agreement dated April 8, 2024
  • Recovery outcome Entries: per estimated · Table missing:
PDF · Subscribers
Bench Brief and Authorities of the Applicants dated April 8, 2024PDF · Subscribers
Application of JMAC Energy Services Inc. returnable March 8, 2024PDF · Subscribers
Book of Authorities of JMAC Energy Services re March 8, 2024 Application with CasesPDF · Subscribers
Brief of JMAC Energy Services re March 8, 2024 ApplicationPDF · Subscribers
Replacement Interim Financing Order dated March 8, 2024
  • Presiding officer Justice J.S. Little
PDF · Subscribers
Stay Extension and Litigation Schedule Order dated March 8, 2024
  • Presiding officer Justice J.S. Little
PDF · Subscribers
Webex Details re March 8, 2024 AMI CallPDF · Subscribers
Supplement to Third Report of Proposal Trustee dated March 7 2024PDF · Subscribers
Affidavit No. 4 of John David Churchill, Sworn Mar. 4, 2024PDF · Subscribers
Application for Replacement DIP Approval dated March 4, 2024
  • Commencement date 13 November 2023
  • Counsel Miller Thomson LLP
  • Court COURT OF KING’S BENCH OF ALBERTA, IN BANKRUPTCY AND INSOLVENCY
  • Court file no 25-3009380
  • + 1 more extracted fact
PDF · Subscribers
Supplemental Brief and Authorities dated March 4, 2024PDF · Subscribers
Affidavit of Todd Erickson sworn February 29, 2024PDF · Subscribers
Third Report of the Proposal Trustee dated February 29, 2024
  • Process results 100 solicited · 16 NDAs · 2 bids · as of 9 Feb 2024
  • Purchaser JMAC, the Backup Bid designee, unnamed corporate entity name not stated as purchaser but referenced as bidder (stalking horse) · the sale of substantially all of the Companies' Business and Property · auction · back-up bid
  • Recovery outcome Entries: per estimated · Stated on: 2024-02-29 · Table missing:
  • Sale advisor Canaccord Genuity Corp. (financial advisor)
  • + 2 more extracted facts
PDF · Subscribers
Authorities to the Brief of the Applicant Approval of Sale and Reverse Vesting Order Filed February 28, 2024PDF · Subscribers
Affidavit No. 3 of John David Churchill Filed February 27, 2024PDF · Subscribers
Application for Approval of Sale and Reverse Vesting Order Filed February 27, 2024PDF · Subscribers
Brief of the Applicants Approval of Sale and reverse Vesting Order dated February 27, 2024PDF · Subscribers
Stay Extension Order dated January 26, 2024
  • Presiding officer Justice C.J. Feasby
PDF · Subscribers
Second Report of the Proposal Trustee dated January 19, 2024
  • Purchaser JMAC Energy Services LLC (stalking horse) · the assets ("Assets") of Athabasca Minerals Inc., including Athabasca's membership interest in AMI Silica LLC and the Remaining Athabasca Assets · assets and shares · proposed
  • Sale advisor Canaccord Genuity Corp. (financial advisor)
  • Sale outcome Sale process approved — SISP ongoing, Qualified Bidders performing due diligence ahead of Bid Deadline
  • Stalking horse Subscribers
PDF · Subscribers
AMI Brief and Authorities as at January 15, 2024
  • Applicant ATHABASCA MINERALS INC., AMI SILICA INC., AMI AGGREGATES INC., AMI ROCKCHAIN INC., TERRASHIFT ENGINEERING LTD., 2132561 ALBERTA LTD., and 2140534 ALBERTA LTD.
  • Commencement date 13 November 2023
  • Court COURT OF KING’S BENCH OF ALBERTA, IN BANKRUPTCY AND INSOLVENCY
  • Court file no 25-3009380
  • + 2 more extracted facts
PDF · Subscribers
Affidavit No. 2 of John David Churchill sworn January 15, 2024PDF · Subscribers
Notice of Application for Various Relief (Filed January 15 2024)
  • Court COURT OF KING'S BENCH OF ALBERTA, IN BANKRUPTCY AND INSOLVENCY
  • Court file no 25-3009380
PDF · Subscribers
Court Order dated December 12, 2023
  • Bid deadline 31 January 2024
  • Order date 12 December 2023
  • Outside date 12 March 2024
  • Presiding officer Justice B. Nixon
  • + 5 more extracted facts
PDF · Subscribers
Notice of Application for Various Relief dated December 12, 2023
  • Applicant ATHABASCA MINERALS INC., AMI SILICA INC., AMI AGGREGATES INC., AMI ROCKCHAIN INC., TERRASHIFT ENGINEERING LTD., 2132561 ALBERTA LTD., and 2140534 ALBERTA LTD.
  • Commencement date 13 November 2023
  • Court COURT OF KING’S BENCH OF ALBERTA, IN BANKRUPTCY AND INSOLVENCY
  • Court file no 25-3009380, 25-3009384, 25-3009386, 25-3009385, 25-3009379, 25-3009389, 25-3009398
  • + 1 more extracted fact
PDF · Subscribers
SISP
  • Bid deadline 31 January 2024
  • Outside date 12 March 2024
  • Purchaser JMAC Energy Services LLC (stalking horse) · certain of the Companies' Property or its shares, as detailed in the Stalking Horse Term Sheet · assets and shares · proposed
  • Break fee Subscribers
  • + 2 more extracted facts
PDF · Subscribers
Teaser
  • Bid deadline 31 January 2024
  • Sale advisor Canaccord Genuity Corp. (financial advisor)
  • Break fee · Stalking horse Subscribers
PDF · Subscribers
Affidavit of Todd Erickson sworn December 8, 2023PDF · Subscribers
First Report of Proposal Trustee dated December 8, 2023
  • Purchaser JMAC (stalking horse) · AMI's membership interest in AMIS LLC; and all of the other assets of AMI · assets and shares · proposed
  • Sale advisor Canaccord Genuity Inc. (financial advisor)
  • Sale outcome Approval pending — SISP proposed with Stalking Horse Term Sheet, seeking approval
  • Stalking horse Subscribers
PDF · Subscribers
Supplemental Affidavit of John David Churchill Sworn December 8, 2023PDF · Subscribers
Affidavit of John David Churchill Sworn December 6, 2023PDF · Subscribers
Brief and Authorities of Athabasca dated December 6, 2023PDF · Subscribers
2132561 Alberta Ltd. - NOI Notice to Creditors dated November 15, 2023PDF · Subscribers
2140534 Alberta Ltd. - NOI Notice to Creditors dated November 15, 2023PDF · Subscribers
AMI Aggregates Inc. - NOI Notice to Creditors dated November 15, 2023PDF · Subscribers
AMI RockChain Inc. - NOI Notice to Creditors dated November 15, 2023PDF · Subscribers
AMI Silica Inc. - NOI Notice to Creditors dated November 15, 2023
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Athabasca Minerals Inc. - NOI Notice to Creditors dated November 15, 2023PDF · Subscribers
TerraShift Engineering Ltd. - NOI Notice to Creditors dated November 15, 2023PDF · Subscribers
2132561 Alberta Ltd. - Certificate for the Notice of Intention - 25-3009389PDF · Subscribers
2140534 Alberta Ltd. - Certificate for the Notice of Intention - 25-3009398PDF · Subscribers
AMI Aggregates Inc. - Certificate for the Notice of Intention - 25-3009386PDF · Subscribers
AMI RockChain Inc. - Certificate for the Notice of Intention - 25-3009385PDF · Subscribers
AMI Silica Inc. - Certificate for the Notice of Intention - 25-3009384PDF · Subscribers
Athabasca Minerals Inc - Certificate for the Notice of Intention - 25-3009380PDF · Subscribers
TerraShift Engineering Ltd. - Certificate for the Notice of Intention - 25-3009380PDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Athabasca Minerals Inc., 2132561 Alberta Ltd., 2140534 Alberta Ltd., AMI Aggregates Inc., AMI RockChain Inc., AMI Silica Inc. and TerraShift Engineering Ltd.” (NOI), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/athabasca-minerals-inc-2132561-alberta-ltd-2140534-alberta-ltd-ami-aggregates-in

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Sources last checked · summary updated 20 August 2026 · Report a correction · Printed from proceedings.ca/case/athabasca-minerals-inc-2132561-alberta-ltd-2140534-alberta-ltd-ami-aggregates-in

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.