British Columbia · CCAA
Sixth Report of the Monitor
Court officer report · 7 June 2023
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 filing7 verified
- cash on handnote: Cash flow table shows ending cash of $7 (CAD thousands) actual vs $72 forecast. · as at: 2023-06-04 · amount: 7000 · currency: CAD · qualifier: approximately
- disbursementsnote: Variance table shows 862 (CAD thousands) actual vs 1,018 forecast. Includes licence fees 143, wages 60, professional fees 654. · since: commencement of the CCAA proceedings (to June 4, 2023) · amount: 862000 · currency: CAD
- operational summaryThe Company has minimal physical assets and is pursuing a sale of its mining interests (a letter of intent for 60% of its Wapiti shares) while funded by DIP borrowings; it is seeking a stay extension to September 15, 2023 and a $300,000 DIP increase.
- professional feesnote: Figure is from the cash flow variance table (654 CAD thousands actual vs 803 forecast). Report states the Company paid the Monitor's and Monitor's counsel's fees up to the end of April 2023. No tax treatment stated. · party: Professional fees (Monitor, Monitor's counsel and Company's legal counsel, aggregate) · amount: 654000 · period: since commencement of proceedings to June 4, 2023 · currency: CAD
- receipts cumulativenote: Total actual receipts of 0 (CAD thousands) in the variance table; operations funded by DIP Loan draws, not receipts. · since: commencement of the CCAA proceedings (to June 4, 2023) · amount: 0 · currency: CAD
- report date7 June 2023
- report noSixth Report