Manitoba · Receivership (court-appointed)

Notice and Statement of the Receiver – Dated June 14, 2024

Notice of receiver (s. 245 / Form 87) · 14 June 2024

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 filing3 verified

financial positionnote: Table breaks out Accounts receivable, Prepaids, Inventory, Due from related parties, and Fixed assets by entity (Genesus, Can-Am, GGI) with a Total Values column; no liabilities figure stated on these pages. · page: 1 · basis: values from the Companies' records as summarized by the Receiver; ultimate realizable value may differ and such difference may be material · scope: Genesus Inc., Can-Am Genetics Inc., and Genesus Genetics Inc. (consolidated total of $17,783,000; GGI reported $- across all line items) · currency: CAD · total assets: 17783000
secured creditorsnote: Estimated amount owed as reported by Receiver; also the receivership applicant · page: 2 · amount: 6305686 · debtor: Genesus Inc. and Can-Am Genetics Inc. · creditor: Bank of Montreal · currency: CAD · security: General Security Agreement on both Genesus and Can-Am
secured creditorsnote: Estimated amount owed as reported by Receiver · page: 2 · amount: 1014098 · debtor: Genesus Inc. · creditor: Farm Credit Canada · currency: CAD · security: Mortgage & General Security Agreement on Genesus