Lotus Ventures Inc.

Lotus Ventures Inc. has been in bankruptcy under the Bankruptcy and Insolvency Act since August 28, 2024, with MNP Ltd. acting as Licensed Insolvency Trustee, in the Supreme Court of British Columbia under file 25-3121356. The Statement of Affairs filed in the bankruptcy reports Lotus Cannabis Alberta Incorporated at the entity level with total assets of $1,522,475 — cash held in trust representing net proceeds of the RVO Transaction, subject to resolution of Post NOI Debt claims against Lotus Ventures Inc. — against total liabilities of $4,906,839.60, with secured and preferred creditors reported as Nil. Twenty-six proofs of claim totalling $5,864,510.32 have been filed as of the report date, a higher figure than the Statement of Affairs total. The Canada Revenue Agency claims $805,873.03 for unremitted GST, transferred to Lotus Cannabis Alberta Incorporated via the RVO, ranking as a general unsecured claim.