Manitoba · NOI

Extending to 11:59 p.m. (CST), Monday, February 17, 2020, the time within which Ernst & Young Inc. (the “Proposal Trustee”) may file a Proposal with the Official Receiver in the matter of the Proposal of PIL; Providing for an Administration Charge, in the limited amount of $250,000.00, as described in the Draft Order; Providing for a Interim Lending Charge in an amount up to $1,000,000.00 as described in the Draft Order in relation to the assets of PIL, to secure repayment of a loan to be made available in accordance with certain terms and conditions (the “Interim Financing Term Sheet”) to PIL by Canadian Imperial Bank of Commerce (“CIBC”) for working capital purposes in the course of these proceedings; Providing for a Directors’ Charge, in the limited amount of $50,000.00, as described in the Draft Order Approving the sale and investment solicitation process (the “SISP”) and approving the engagement of Cafa Corporate Finance (the “Financial Advisor”) as financial advisor to conduct the SISP; Authorizing, for consideration up to the amount as set out in the draft Order, the sale of certain assets formerly used by PIL in the conduct of business activities in Thompson, Manitoba; and Sealing the confidential Affidavit of Lori Arnold, to be sworn

Sale process approval order · 6 December 2019