Lionhart Capital Ltd.

Lionhart Capital Ltd. has been in court-appointed receivership since February 23, 2023, with MNP Ltd. as receiver under section 85 of the Civil Enforcement Act and section 13(2) of the Judicature Act, in the Court of King's Bench of Alberta, file 1503 16803. The applicant is Wade Wood, who holds a judgment debt against Gerald Bevan of $3,723,635.11 as of February 4, 2022, inclusive of certified solicitor-client costs of $76,201.47 and pre- and post-judgment interest, secured by a Writ of Enforcement registered at the Personal Property Registry on October 7, 2022. Bevan swore on March 14, 2022 to further debts, excluding those owed to Wood, in excess of $280,000. Management-prepared statements put Lionhart's entity-level assets at $257,790 as at February 28, 2023, a figure that includes $92,156 of 2020 'prior period accounts receivable' the directors consider uncollectible, along with other receivables they regard as uncollectible or unfamiliar.