Ontario · Receivership (court-appointed)

Second Report of the Court-Appointed Receiver (without appendices)

Court officer report · 30 June 2021

AI summary

A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.

What we verified from this filing1 verified

secured creditorsnote: Described in prose as 'in excess of $17 million' at time of Receivership Order; exact stated balance as at October 2, 2019 was 'over $17 million' (Curative Indebtedness). Security ultimately foreclosed upon per November 2019 Order - share collateral vested in Auxly discharging Debtor's, Shpilt's and Fitzgerald's interests. Also a shareholder (24% stake) and party to Cannabis Supply Agreement. · page: 2 · as of: 2019-10-02 · amount: 17000000 · debtor: 2368523 Ontario Limited d/b/a Curative Cannabis · creditor: Auxly Cannabis Group Inc. · currency: CAD · security: Amended and Restated Secured Promissory Note dated April 23, 2019, original principal $18.0 million, increased to $21 million principal under Forbearance Agreement dated October 10, 2019; secured by limited recourse guarantees from Shpilt and Fitzgerald supported by Share Collateral pledge