Ontario · Receivership (court-appointed)
Notice and Statement of Receiver
Notice to creditors · 26 August 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 filing10 verified
- financial positionnote: Assets only; no total liabilities stated. Components (CAD millions): PP&E 442.60; inventory 224.70; exploration and evaluation assets 67.90; deferred taxes 40.00; cash 24.10; marketable securities 11.10; receivables 7.90; prepaid expenses 4.30; investment in associate 2.10; current portion of derivative instruments 0.05; total 824.75. · page: 2 · as at: 2024-06-30 · basis: Book value per the books and records of VGC as of June 30, 2024; the Receiver states these do not necessarily represent sale or liquidation value and more recent information is not available · scope: Victoria Gold Corp. (single entity; Property at the time of the Receivership Order, incl. Eagle Gold Mine) · currency: CAD · total assets: 824750000
- secured creditorsnote: Stated in USD millions (35.5). · page: 3 · as of: Receivership Date (August 14, 2024) · amount: 35500000 · debtor: Victoria Gold Corp. · creditor: Caterpillar Financial Service Ltd · currency: USD
- secured creditorsnote: Amount owing stated as 'Unknown'. Listed as secured on the basis of PPSA registration. · page: 3 · as of: Receivership Date (August 14, 2024) · debtor: Victoria Gold Corp. · creditor: Finning International Inc. · currency: CAD
- secured creditorsnote: Amount owing stated as 'Unknown'. · page: 3 · as of: Receivership Date (August 14, 2024) · debtor: Victoria Gold Corp. · creditor: KAL TIRE, a Corporate Partnership · currency: CAD
- secured creditorsnote: Stated in USD millions (137.5) per the Receiver's review of books and records and PPSA registrations in Ontario and British Columbia. · page: 3 · as of: Receivership Date (August 14, 2024) · amount: 137500000 · debtor: Victoria Gold Corp. · creditor: Syndicated Loans (Bank of Montreal as administrative agent; Canadian Imperial Bank of Commerce; Desjardins; National Bank of Canada) · currency: USD
- secured creditorsnote: Amount owing stated as 'Unknown'. · page: 4 · as of: Receivership Date (August 14, 2024) · debtor: Victoria Gold Corp. · creditor: TDF Group Inc. · currency: CAD
- secured creditorsnote: Amount owing stated as 'Unknown'. · page: 4 · as of: Receivership Date (August 14, 2024) · debtor: Victoria Gold Corp. · creditor: Tutchone Air Leasing Ltd. · currency: CAD
- secured creditorsnote: Amount owing stated as 'Unknown'. · page: 4 · as of: Receivership Date (August 14, 2024) · debtor: Victoria Gold Corp. · creditor: Xerox Canada Ltd. · currency: CAD
- secured creditorsnote: Amount owing stated as 'Unknown'. · page: 4 · as of: Receivership Date (August 14, 2024) · debtor: Victoria Gold Corp. · creditor: Osisko Gold Royalties Ltd. · currency: CAD
- unsecured creditorsnote: Aggregate total as stated by the Receiver. Schedule A itemises approximately 300 trade and other creditors with individual amounts; an itemised extraction was not performed here. Largest listed items include Finning (Canada) 14,391,908.20; Pelly Construction 9,158,296.64; Mayo Fuel Supply 8,117,336.94; ATCO Frontec 4,241,318.35; Orica Canada 3,984,304.22; Nuway Crushing 3,633,575.68; Metso Canada 3,527,530.79. Employee amounts excluded; WEPPA information still being collected. Some listed names (e.g., Kal Tire, Tutchone Air Leasing, Finning (Canada), Xerox) also appear among the secured creditors. · page: 4 · as of: 2024-08-14 · basis: List of unsecured creditors per VGC's books and records (Schedule A), excluding amounts that may be owing to employees · amount: 82742667.53 · debtor: Victoria Gold Corp. · creditor: Unsecured creditors (aggregate total per Schedule A) · currency: CAD