British Columbia · CCAA
Joint Motion for Order Approving Patriot Gold Corp. Settlement dated August 3, 2026
Application / notice of application · 3 August 2026
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What we verified from this filing1 verified
- secured creditorsnote: Not a loan balance: Patriot holds a royalty / real property interest, and no pre-filing debt balance is stated. Patriot asserted 'very substantial monetary and other claims' (amounts never quantified) in Adversary Proceeding 2:24-ap-00253-EPB; the Debtors denied all claims, and the dispute was resolved by the Settlement Agreement dated July 22, 2026 at 'a substantial discount from the full amounts asserted'. Settlement Payments (each labelled, not summed per the document): Turnover Payment of USD 1,475,612.47 — the funds segregated at Wells Fargo under the December 22, 2025 Injunction Order — paid June 8, 2026 (page 14); Additional Payment of USD 1,550,000.00 due within five business days after the Effective Date (page 15). Subject to receipt of the Settlement Payments, Patriot releases all Claims against the GVC Residual Assets, which can be made available for distribution to other creditors (pages 5, 15). GVC will continue performing the Royalty obligations for all periods from and after May 31, 2026 (page 15). · page: 15 · debtor: Golden Vertex Corp. (GVC); monetary claims were asserted against all Debtors · creditor: Patriot Gold Corp. · currency: USD · security: Royalty Deed (Patented and Unpatented Mining Claims) dated as of May 25, 2016, recorded May 26, 2016 in Mohave County, Arizona (FEE#2016023500): a Royalty of 3% of Net Smelter Returns from mineral production at the Moss Mine; a covenant running with the land, and per the Settlement Agreement and Stipulated Judgment adjudicated to be a real property interest in the minerals and their proceeds at the Moss Mine, valid, binding and enforceable against GVC and any successor owner (pages 13, 15, 39-42)