Origin Biomed Inc.

Origin Biomed Inc. has been under court-appointed receivership since April 7, 2015, when the Supreme Court of Nova Scotia (In Bankruptcy & Insolvency) appointed Grant Thornton Limited receiver and manager under section 243(1) of the Bankruptcy and Insolvency Act on the application of Knight Therapeutics Inc., in Hfx. No. 437782. Knight Therapeutics holds security over substantially all of the company's present and after-acquired personal property, excluding accounts, monies and deposits secured to Toronto-Dominion Bank, and had obligations owing of $2,396,616.17 as of February 24, 2015, with interest and realization costs continuing to accrue; it has given notice under section 62 of the PPSA to take the collateral in satisfaction. Roynat Inc. holds equipment security over copiers and printers, and Bionica Inc. holds security tied to the 'Bionica' gel cream product, including inventory, intellectual property and trademarks, which Bionica's solicitor advised relates only to Bionica products. The receiver advised there were no deposits at TD Bank as of May 31, 2015. The proceeding remains active.