Alberta · Receivership (court-appointed)
Affidavit of Greg Steidl, sworn on February 10, 2025
Affidavit · 21 February 2025
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What we verified from this filing1 verified
- secured creditorsnote: Indebtedness under commitment letter dated April 10, 2023, secured jointly and severally; also guaranteed and secured by Guarantors BTC USA Holdings Management Inc., Local First Properties USA Inc., Alaska Broadcast Communications Inc., and Broadcast 2 Podcast Inc. via Continuing/Limited Recourse Guarantees and corresponding Security Agreements/Pledge/Deed of Trust dated April 26, 2023 (registered PPSA/UCC in Alberta, Delaware, Alaska, California); Frontier Media LLC added as Guarantor under Forbearance Agreements though it did not execute separate security. Amount per ATB Loan Payout Estimate (Exhibit 8, dated Feb 5, 2025) matches affidavit's stated indebtedness as of the same date. · page: 34 · as of: 2025-02-05 · amount: 8205843.77 · debtor: Local First Media Group Inc. and Local First Properties Inc. (the "Borrowers") · creditor: ATB Financial · currency: USD · security: General Security Agreements dated April 26, 2023 (all present and after-acquired personal property, plus floating charge on real property) granted by Local First Media and Local First Properties; Pledge Agreement dated April 26, 2023 granted by Local First Media over shares of BTC USA Holdings Management Inc. and Local First Properties USA Inc.; registered against Borrowers via Alberta PPR (Exhibits 12-13)