Vital Metals Canada Ltd.

Vital Metals Canada Ltd. is in bankruptcy under the Bankruptcy and Insolvency Act in Saskatchewan, with MNP Ltd. as trustee. The bankruptcy dates from 27 September 2023, when the company filed or was deemed to have filed an assignment, or a bankruptcy order was made against it. The matter is before the Court of King's Bench for Saskatchewan under court file 23-2991406. As at the date of bankruptcy, the trustee reported secured claims of $47,250 owing to Vital Metals Ltd., the company's parent and sole shareholder, secured over all property, and an estimated $22,000 priority claim of employees under the Wage Earner Protection Program Act against current assets. The company's records indicate unsecured claims totalling $41,769,797.04. The proceeding remains active.