British Columbia · CCAA
Affidavit #1 of Timothy Mister
Affidavit · 21 August 2026
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 filing12 verified
- secured creditorsnote: Aggregate builders' lien claims exceed $928,000 per affidavit (page 5); one such claimant, Artisan Consulting Services (2023) Ltd., separately claims $154,500.90 plus interest/costs (total $165,719.90) secured by Claim of Lien registered against surface lands and minerals (page 90); builders have obtained/sought authorization for sale of property if judgments unpaid within 120 days · page: 5 · debtor: Western Potash Corp. and 0907414 B.C. Ltd. · creditor: Various builders (PPSA/builders' lien claimants, including Artisan Consulting Services (2023) Ltd.) · currency: CAD · security: Builders' liens registered against the Borrower's property/Milestone project
- unsecured creditorsnote: Some overlaps with secured builders' lien claimants listed above; judgments largely uncontested · page: 5 · basis: Judgments and court applications by builders claiming unpaid amounts for improvements, described as prose approximation 'in excess of' · amount: 928000 · debtor: Western Potash Corp. · creditor: Various vendors/builders (unpaid improvements - court judgments) · currency: CAD
- unsecured creditorsnote: Unpaid trade payable for construction work · page: 5 · basis: Correspondence from Bird Construction Group's counsel claiming unpaid amounts for work on the project · amount: 488286.24 · debtor: Western Potash Corp. · creditor: Bird Construction Group · currency: CAD
- unsecured creditorsnote: Regulatory/tax liability, unpaid PST · page: 5 · basis: Representatives of the Western Potash Group advised of unpaid provincial sales tax liability · amount: 299518.53 · debtor: Western Potash Corp. · creditor: Saskatchewan tax authorities (provincial sales tax) · currency: CAD
- secured creditorsnote: RM served Notice claiming title on/about May 14, 2026; Tax Certificate received from counsel indicates total amount owing; regulatory/municipal tax lien · page: 6 · as of: Tax Certificate · amount: 1066801.21 · debtor: Western Potash Corp. · creditor: Rural Municipality of Lajord No. 128 · currency: CAD · security: Tax lien registered against title to Borrower's real property for unpaid municipal taxes; RM claiming title based on the lien
- unsecured creditorsnote: Disputed/contingent claim under litigation; surety bond value approx. CDN$4.3 million; Appian declined to co-sign indemnity · page: 6 · as of: Complaint filed February 2026 · basis: Complaint filed by Intact in New York State Court seeking to compel deposit of collateral security for decommissioning/reclamation bond obligations · amount: 3819655 · debtor: WRC Parent (Western Resources Corp.) and Western Potash Corp. · creditor: Intact Insurance Company · currency: CAD
- secured creditorsnote: Related party: Lender's parent is affiliated with petitioner Appian; amount is total commitment/advanced (not less than CDN$85 million); outstanding balance not separately stated on these pages though interest arrears noted separately (US$16.8 million as of affidavit date, and $28,679,205 as of May 31, 2026 per financial statements at page 25). Facility limit per Debenture (page 403/525) capped at 'full principal amount specified in section 8' - not quantified on these pages. · page: 7 · as of: Credit Agreement dated April 28, 2022 · amount: 85000000 · debtor: Western Potash Corp. (borrower); Western Potash Holdings Corp. and 0907414 B.C. Ltd. (guarantors) · creditor: WPC (Jersey) Limited (Appian Capital Advisory LLC affiliate) · currency: CAD · security: First-ranking comprehensive security over all assets including Milestone project, pursuant to Borrower GSA, Borrower Debenture, Holdings GSA, and 090 Debenture, all dated May 16, 2022
- secured creditorsnote: Related party: affiliate of Appian/Lender; royalty rate 1.5%-2% on Adjusted Gross Revenue up to first 146,000 tonnes/year; not a balance owing, security for royalty obligations · page: 7 · debtor: Western Potash Corp. and 0907414 B.C. Ltd. · creditor: WPC Royalty Corp. (affiliate of Appian) · currency: CAD · security: Second-ranking debentures granted by Borrower and 090 in favour of WPC Royalty Corp. securing obligations under Royalty Agreement (royalty purchase price US$6,251,465.19 / approx. CDN$8,000,000)
- unsecured creditorsnote: Related party: major shareholder of parent company; unsecured short-term loan · page: 25 · as of: 2026-05-31 · basis: Statement in interim financial statements re: short-term loan payable · amount: 167181 · debtor: Western Resources Corp. / Western Potash Corp. · creditor: Major shareholder of Western Resources Corp. (Parent Company) - contingency fund loan · currency: CAD
- unsecured creditorsnote: Related party: Vantage is major shareholder of parent WRX; unsecured exchangeable debenture · page: 26 · as of: closed December 27, 2023 · basis: Exchangeable debenture subscription agreement dated August 15, 2023 · amount: 10000000 · debtor: Western Potash Corp. / Western Resources Corp. · creditor: Vantage Chance Limited (Exchangeable Debenture) · currency: CAD
- unsecured creditorsnote: Related party: two shareholders of parent WRX each provided contingency loans ($1,690,000 and $1,994,000, 8% annual interest); do not sum per rule 1; components: $1,690,000 and $1,994,000 · page: 35 · as of: 2025-09-30 · basis: Financial statements note re: short term loan payable - components stated as $1,690,000 and $1,994,000 separately · debtor: Western Resources Corp. · creditor: Shareholders of Western Resources Corp. (two separate contingency fund loans) · currency: CAD
- financial positionnote: Comparative figures also shown for Sept 30, 2022 (total assets $304,501,899, total liabilities $63,095,901) - not used per rule to take correct as-at column. More recent unaudited figures (May 31, 2026 and Sept 30, 2025) referenced in affidavit but detailed balance sheet totals not present on these pages, only note-level figures (e.g., mineral property, plant and equipment net book value $367,638,957 as at May 31, 2026 on page 24, and $366,949,700 as at Sept 30, 2025 on page 34). · page: 55 · as at: 2023-09-30 · basis: Audited consolidated financial statements (comparative year shown in MD&A summary table) · scope: Consolidated - Western Resources Corp. and subsidiaries (Western Potash Corp., WPHC, 090) · currency: CAD · total assets: 351097751 · total liabilities: 105392192