Alberta · Receivership (court-appointed)

Affidavit of Eugene Ngo

Affidavit · 12 September 2025

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What we verified from this filing1 verified

secured creditorsnote: Indebtedness stated as collective amount owing under four Loan Facilities plus accruing interest, legal fees and disbursements, evidenced by Exhibit C email confirming balance. Facility limits (not balances): Facility 1 operating line $3,300,000; Facility 2 non-revolving term loan $156,928; Facility 3 revolving lease line $1,000,000; Credit Card Facility $200,000. Secured also by unlimited personal guarantees dated April 28, 2023 from directors David Tucker and Darren Fraser (personal guarantors, related parties as directors of debtor). · page: 3 · as of: 2025-09-12 · amount: 3440586.8 · debtor: Ryfan Inc. · creditor: The Bank of Nova Scotia (Scotiabank) · currency: CAD · security: General Security Agreement over all present and after-acquired personal property, dated April 28, 2023, registered Alberta PPR April 18, 2023 (instrument no. 23041815117); Collateral Mortgage dated April 28, 2023 against Lot 13, Block 540, Plan 3607, Yellowknife, NWT, registered at NWT Land Titles Office October 19, 2023 (instrument no. 217668), securing a stated principal amount of $1,000,000 (registered principal, not a balance)