Alberta · CCAA
Affidavit of J. Bednar - Volume 2 - 2025.11.16 (Part 1 of 2)
Affidavit · 16 November 2025
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What we verified from this filing2 verified
- secured creditorsnote: No Canadian security agreement executed by Canacol in favour of Macquarie and no PPSA financing statements registered against Canacol or the Canadian Subsidiaries in Alberta (Exhibit J search results) - security is limited to non-Canadian collateral. Facility began accelerated amortization (8 equal monthly installments starting Sept 15, 2025) due to production covenant breach as at June 30, 2025. · page: 17 · as of: 2025-11-17 · amount: 37500000 · debtor: Canacol Energy Ltd. · creditor: Macquarie Bank Ltd. · currency: USD · security: First-priority security interest against Canacol Group's assets in Colombia and the United States; springing control over certain US and Colombian collection accounts (DACAs); pledges of shares of key Subsidiaries. Aggregate commitment/facility limit US$75,000,000 (not a balance). Guaranteed by 265 Alberta, 249 Alberta, Canacol ULC, Canacol Colombia, CNE O&G Colombia, CNE Energy Colombia, CNE Panama, Shona Switzerland and Cantana Switzerland.
- financial positionnote: Total liabilities not stated as a single figure; document discloses components only: Current Liabilities - current portion of long-term debt $42.172M, trade and other payables $107.607M, deferred income $21.202M, lease obligations $4.563M, taxes payable $7.744M, LTIP liabilities $2.056M, other long-term obligations $1.337M; Non-Current Liabilities - long-term debt $672.200M, lease obligations $4.271M, decommissioning obligations $26.861M, deferred tax liabilities $9.583M, LTIP liabilities $1.589M, other long-term obligations $5.631M (per Q3 Interim Financial Statements, page 16). Separately, MD&A reports 'Total debt' of $747,584 (thousands) as at September 30, 2025 (page 22), which is a component of, not equal to, total liabilities. · page: 22 · as at: 2025-09-30 · basis: Q3 Interim Financial Statements / MD&A for the three and nine months ended September 30, 2025 (in thousands per MD&A table) · scope: Consolidated Canacol Group (Canacol Energy Ltd. and its direct and indirect subsidiaries) · currency: USD · total assets: 1292418000