Sunterra Food Corporation

Sunterra Food Corporation obtained protection under the CCAA on April 15, 2025, and the Alberta proceedings remain active. The Sunterra Group's secured debt is held principally by Farm Credit Canada and National Bank of Canada (previously Canadian Western Bank). FCC's facilities to borrowers Sunterra Farms Ltd. and Sunwold Farms Limited, governed by a Third Amended and Restated Credit Agreement dated June 14, 2024, showed principal not due of $14,111,111.12, $4,881,795.16 and $2,559,318.26, secured by mortgages over farm properties, general security agreements and cross-guarantees across the group; a separate 2018 Lariagra Farms loan was advanced in the original amount of $3,500,000. NBC demanded payment by letter dated March 14, 2025, claiming $17,532,351.57 as of March 11, 2025 across three loan segments, with interest accruing at approximately $1,015.43 per day. Sunterra disputes that five affiliates guaranteed the 2022 NBC loan agreement.