Osoyoos Mountain Estates Inc.

Osoyoos Mountain Estates Inc. has been under court-appointed receivership since August 31, 2023, in the Court of King's Bench of Alberta under court file 2303-04003, on an application by Fredrick North. A claims bar date of July 31, 2024 was set, and the court made orders on June 19, 2024 and August 20, 2024. North holds security for advances made to fund the professional fees of the Receiver and its counsel, and is separately the company's largest unsecured creditor, holding nearly 100% of total estimated unsecured liabilities. Cornerstone Credit Union holds registered security over two of the OMEI Properties and Prairie Centre Credit Union over seven, both as described in Schedule 'C' of the receivership order; the Receiver has not reviewed the validity of either, as no distribution to those creditors is contemplated from real property sale proceeds. The proceeding remains active.