British Columbia · CCAA
Second Report of the Monitor
Court officer report · 24 June 2022
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 filing5 verified
- disbursementsnote: Report states that to date no payments have been made from the Company's bank account. · since: June 3, 2022 (Initial Order) · amount: 0 · currency: CAD
- operational summaryThe company is under CCAA stay (extended to August 19, 2022) and is pursuing sales of its shares in Wapiti and CDLV (Murray River project) to raise liquidity; Wapiti progress is hampered by Covid-19 travel restrictions on the purchaser, and CDLV purchasers await an independent feasibility report. The Company also seeks a claims process order, which the Monitor supports.
- receipts cumulativenote: Only receipt described is the first DIP Facility drawdown of $150,000 funded June 20, 2022; the report does not state a cumulative receipts total, so this is the single stated receipt. Monitor says this is consistent with the Cash Flow filed as Appendix B to the First Report. · since: June 3, 2022 (Initial Order) · amount: 150000 · currency: CAD
- report date24 June 2022
- report noSecond Report of the Monitor