British Columbia · CCAA
Notice of Joint Motion for Order Approving Patriot Gold Corp. Settlement dated August 3, 2026
Application / notice of application · 3 August 2026
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What we verified from this filing1 verified
- unsecured creditorsnote: No claim amount is stated; the Joint Motion says the settlement resolves Patriot's monetary claims 'at a substantial discount from the full amounts asserted' (p. 13). Settlement Payments are stated as components and are not summed here: Turnover Payment of US$1,475,612.47, paid June 8, 2026 from funds segregated at Wells Fargo Bank under the Injunction Order (p. 21-22), and Additional Payment of US$1,550,000.00 payable within five business days after the Effective Date (p. 22). The Stipulated Judgment adjudicates that the Royalty Deed dated May 25, 2016 grants Patriot a real property interest in the minerals and their proceeds at the Moss Mine — a property interest, not a debt (p. 42). GVC closed its sale and was dismissed from the Canadian CCAA proceeding on December 31, 2024 (p. 10), so the paying obligor is no longer a debtor in the Canadian Proceeding; upon full payment Patriot releases all claims against the GVC Residual Assets held by the Monitor (p. 22). Claims were disputed and denied by the Debtors (p. 10). · page: 21 · basis: Disputed claims asserted in Adversary Proceeding No. 2:24-ap-00253-EPB (declaratory judgment on the Royalty Deed, accounting, turnover, constructive trust, conversion, breach of contract, breach of implied duty of good faith, aiding and abetting conversion, unjust enrichment, punitive damages and attorneys' fees), resolved by Settlement Agreement dated as of July 22, 2026 · debtor: Golden Vertex Corp. (GVC); claims were asserted against GVC and the other Debtors · creditor: Patriot Gold Corp. · currency: USD