Ontario · Receivership (court-appointed)
Application Record dated August 20, 2025 - Volume II of II
Application / notice of application · 20 August 2025
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What we verified from this filing3 verified
- secured creditorsnote: Figure is a contractual registration/security ceiling on a specific cash-collateral account, not an outstanding balance. · page: 7 · as of: 2019-09-05 · debtor: Drop Technologies Inc. · creditor: Royal Bank of Canada · currency: CAD · security: Security interest limited to Cash Collateral (specified deposit account) to the extent of CAD$1,250,000, registered under PPSA (Ontario) reference file nos. 723317976 & 736427988; subordinate/postponed to Silicon Valley Bank (now NBC) as to all other collateral
- secured creditorsnote: PPSA Confirmation to Silicon Valley Bank stating the Existing Registration relates solely to this cash-collateral ceiling and will not be used to perfect any other security interest; figure is a registration limit, not a balance. · page: 10 · debtor: Drop Loyalty Inc. (now Drop Technologies Inc.) · creditor: Royal Bank of Canada · currency: CAD · security: Security interest limited to Cash Collateral (specified deposit account) to the extent of CAD$125,000, registered under PPSA (Ontario) reference file no. 723317976
- secured creditorsnote: Demand letter dated May 21, 2025 states amounts owing to the Lender for principal, interest and certain fees under the Loan Agreement as of May 20, 2025; the amount table itself is not included on the provided page. · page: 294 · as of: May 20, 2025 · debtor: Drop Technologies Inc. (formerly Drop Loyalty Inc.), Drop Technologies USA Inc., Drop Technologies Holdings ULC · creditor: National Bank of Canada (as successor Lender to Silicon Valley Bank) · security: Blanket security interest in all present and after-acquired property of the Debtors under Loan and Security Agreement dated September 14, 2017, as amended by nine amendments (through the Ninth Amendment dated December 20, 2024)