British Columbia · CCAA
Petition to Court
Application / notice of application · 3 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 filing2 verified
- secured creditorsnote: Senior secured, largest creditor. Original facility described as a $9 million gold pre-payment facility ('the Facility') - facility limit, not balance. Notice of Default delivered April 8, 2024 for missed gold loan payment; May 23, 2024 demand letter claimed indebtedness of US$9,741,008.00 payable by June 3, 2024, accompanied by Notice of Intention to Enforce Security under s.244 BIA. OCIM also purported to seize control of Chala One and Corizona share registries in alleged violation of BIA/Share Pledge Agreement. · page: 4 · as of: 2024-05-23 (demand letter) · amount: 9741008 · debtor: Inca One Gold Corp. · creditor: OCIM Mines and Minerals SA · currency: USD · security: First-ranking general security agreement over all personal and after-acquired property of Inca One; Share Pledge over shares of Chala One S.A.C. and Corizona S.A.C.; liens over the Plants (Chala One Plant and Kori One Plant)
- secured creditorsnote: Equinox is a 19.99% shareholder of Inca One - related party. Prose states 'currently owed approximately CAD$7.1 million' (no exact dated balance provided; original note principal was $9,000,000). April 18, 2024 reservation of rights letter delivered regarding the promissory note and share pledge. · page: 5 · amount: 7100000 · debtor: Inca One Gold Corp. · creditor: Equinox Gold Corp. · currency: CAD · security: Secured promissory note (original principal amount $9,000,000.00, granted 2018) and share pledge agreement over shares of Anthem United Inc. (which holds 90.14% interest in Kori One)