Sociable Labs Inc.

Sociable Labs Inc. is proceeding under a Division I proposal in the Superior Court of Québec, file 500-11-050935-168, commenced 9 August 2016 with Deloitte Restructuring Inc. as Trustee. Approval is sought under articles 58 and 59(4) of the Bankruptcy and Insolvency Act together with article 191 of the Canada Business Corporations Act. The statement of affairs filed with the proposal shows total indebtedness of $2,142,676 as at 30 June 2016, of which $1,239,650 is unsecured, against a cumulated deficit of $4.3M over the two-year period ended 31 March 2016 per the Trustee's Report; shareholders sit in a deficit position and share capital has no value. The Amended Proposal of 11 July 2016 settles the secured claim of Venture Lending & Leasing VI and VII for $100,000 payable to the Trustee within 15 business days of approval. Investissement Québec, a shareholder holding security registered on the RPMRR and over research and development tax credits to be received, and Rho Canada Ventures have each renounced the dividend on $315,000 promissory note claims. Preferred claims include a lessor's arrears limited to an estimated realization value of $2,500. The matter is active.