Ontario · NOI
First Report of Proposal Trustee dated January 28, 2025.pdf
Court officer report · 28 January 2025
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What we verified from this filing11 verified
- appointeeGrant Thornton Limited
- appointee roleProposal Trustee
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noBK-25-03176112-0031
- provinceONTARIO
- statutory basisthe Bankruptcy and Insolvency Act, RSC 1985, c B-3, as amended
- commencement date17 January 2025
- financial positionnote: Comparative figures also given as at December 31, 2023: Total Assets $91,814,798; Total Liabilities $42,205,139. Trustee notes the Companies have significant long-term exploration/PP&E assets but no liquidity to service current and long-term liabilities. · as at: 2024-12-31 · basis: based on the provided (unaudited) financial statements of the Companies · scope: consolidated - Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp. (collectively 'the Companies') · currency: CAD · total assets: 87563067 · total liabilities: 40086657
- operational summaryThe Companies' operations, including at the Steveville Facility, have been paused, and the business is not currently operating while it pursues a court-supervised sale and investment solicitation process.
- report date28 January 2025
- report noFirst Report