Alberta · Receivership (court-appointed)
Affidavit of Alain Deblois
Affidavit · 19 June 2023
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What we verified from this filing4 verified
- secured creditorsnote: Loan #004-652012 (Agr-Business Loan Program); exact dated payout balance per Payout Summary Statement (June 8, 2023). Affidavit para 39 states combined Biotechnologies/Growers indebtedness as a floor: 'owe a significant amount, exceeding $8,559,746.11'. Additional unsecured guarantees also exist re this debt: Atlas Global Brands Inc. (corporate guarantee limited to $1,400,000.00) and two individual officer/director personal guarantees each limited to $700,000.00 (unsecured, not included as secured creditors). · page: 2 · as of: 2023-06-08 · amount: 6864330.36 · debtor: Atlas Biotechnologies Inc. · creditor: Agriculture Financial Services Corporation (AFSC) · currency: CAD · security: Mortgage of Land dated September 15, 2019 (Alberta Land Titles instrument 192245237), securing registered principal sum of $15,000,000.00 (registration ceiling, not balance) plus interest at 18% per annum, secures all of the 'Indebtedness'; General Security Agreement dated September 15, 2019 over all present and after-acquired personal property, PPSA registration 19091826437 (amended June 8, 2023 by registration 23060820227)
- secured creditorsnote: Loan #004-652137 (Agr-Business Loan Program); exact dated payout balance per Payout Summary Statement (June 8, 2023). · page: 2 · as of: 2023-06-08 · amount: 1695415.75 · debtor: Atlas Biotechnologies Inc. · creditor: Agriculture Financial Services Corporation (AFSC) · currency: CAD · security: Same Mortgage of Land dated September 15, 2019 (instrument 192245237, registered principal $15,000,000.00) and Biotechnologies General Security Agreement dated September 15, 2019 (PPSA 19091826437, amended June 8, 2023 by 23060820227), securing all of the 'Indebtedness'
- secured creditorsnote: Unpaid municipal taxes in relation to the Lands, per AFSC advice from Lac Ste. Anne County (Tax Roll Trial Balance). Additional 2023 taxes assessed at $99,694.47 due and payable June 30, 2023 (component, not yet due as of the affidavit; not summed into amount). · page: 5 · as of: 2023-06-05 · amount: 499802.13 · debtor: Atlas Biotechnologies Inc. · creditor: Lac Ste. Anne County · currency: CAD · security: Statutory municipal property tax lien on the mortgaged Lands
- secured creditorsnote: Growers Guarantee (unlimited, dated September 15, 2019) guarantees repayment of all indebtedness of Biotechnologies to AFSC (co-extensive with Loans 004-652012 and 004-652137). Amount is a floor stated in the affidavit: 'Biotechnologies and Growers owe a significant amount, exceeding $8,559,746.11' (para 39). · page: 6 · as of: 2023-06-09 · amount: 8559746.11 · debtor: Atlas Growers Ltd. · creditor: Agriculture Financial Services Corporation (AFSC) · currency: CAD · security: Growers General Security Agreement dated September 15, 2019 over all present and after-acquired personal property, PPSA registration 19091825692 (amended June 6, 2023 by registration 23060634505 and June 8, 2023 by registration 23060820242)