British Columbia · Receivership (court-appointed)

Notice of Receiver - Form 87

Notice of receiver (s. 245 / Form 87) · 14 January 2022

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financial positionnote: The stated asset total is $69,161,542: cash $88,480; accounts receivable $55,576; prepaid expenses $76,342; amounts due from related parties $68,900,475; property, plant and equipment $3,169; reclamation bond $37,500. Sequence: Otso Gold Corp., Otso Gold OY, Otso Gold AB and 2273265 Alberta Ltd. obtained a CCAA Initial Order December 3, 2021 (Deloitte as Monitor); the Monitor's Second Report concluded Otso lacked resources to advance the restructuring, the stay expired January 14, 2022, and the secured creditors' receivership application was granted the same day. Principal line of business: mining. · page: 1 · as at: 2021-10-31 · basis: Net book value as at October 31, 2021, per information compiled by the Debtors including the most recent unaudited monthly financial statements; cash per information provided to the CCAA Monitor as at January 14, 2022. Deloitte has not audited or verified the information; requests to the principal and director for additional information remained outstanding. · scope: Otso Gold Corp. (entity level) — assets only · currency: CAD · total assets: 69161542
secured creditorsnote: The notice's table styles the second entity “PFL Rahhe Holdings Ltd.”; the attached receivership order styles it “PFL Raahe Holdings LP” — recorded as the table states it. · page: 2 · as of: 2021-10-31 · basis: Form 87 — Notice and Statement of the Receiver (ss.245(1) & 246(1) BIA), Deloitte Restructuring Inc., dated January 20, 2022, item 5: “Amount owed to each creditor who holds a security on the Property”, at book value per information compiled by the Debtors including unaudited financial statements for the month ended October 31, 2021 (not audited or verified by Deloitte). Receiver appointed January 14, 2022 by Order of Mr. Justice Gomery, Supreme Court of British Columbia, on the application of Pandion Mine Finance LP, RiverMet Resource Capital LP and PFL Raahe Holdings LP. · amount: 31105947 · debtor: Otso Gold Corp. · creditor: Pandion Mine Finance LP and PFL Rahhe Holdings Ltd. · currency: CAD · security: The creditor holding security on the Property (Form 87 item 5); the security is not described in the notice. The same lenders (with RiverMet Resource Capital LP) were the applicants for the receivership order.
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 974 · debtor: Otso Gold Corp. · creditor: Alpha Resource · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 3561 · debtor: Otso Gold Corp. · creditor: Ansarada Pty Limited · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 2923 · debtor: Otso Gold Corp. · creditor: Ares Mining · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 525 · debtor: Otso Gold Corp. · creditor: Avisar Everyday · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 10286 · debtor: Otso Gold Corp. · creditor: BH Legal · currency: CAD
unsecured creditorsnote: The amount is stated as “Unknown”. · page: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · debtor: Otso Gold Corp. · creditor: BMO Credit Card - Corp · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 11758 · debtor: Otso Gold Corp. · creditor: Borden Ladner Gervais Llp · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 4 · debtor: Otso Gold Corp. · creditor: Broadridge · currency: CAD
unsecured creditorsnote: The amount is stated as “Unknown”. Crown claim. · page: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · debtor: Otso Gold Corp. · creditor: Canada Revenue Agency · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 263 · debtor: Otso Gold Corp. · creditor: CDS Clearing · currency: CAD
unsecured creditorsnote: Individual creditor. · page: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 39620 · debtor: Otso Gold Corp. · creditor: Chris Towsey · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 18752 · debtor: Otso Gold Corp. · creditor: Computershare · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 34325 · debtor: Otso Gold Corp. · creditor: Aird & Berlis · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 1438 · debtor: Otso Gold Corp. · creditor: Hamilton Sek · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 3408 · debtor: Otso Gold Corp. · creditor: Harbourfront · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 62030 · debtor: Otso Gold Corp. · creditor: Investing News Network · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 318500 · debtor: Otso Gold Corp. · creditor: John T. Boyd Company · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 165089 · debtor: Otso Gold Corp. · creditor: Lionsbridge Pty Ltd · currency: CAD
unsecured creditorsnote: Individual creditor. · page: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 6200 · debtor: Otso Gold Corp. · creditor: Martin Smith · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 347 · debtor: Otso Gold Corp. · creditor: Mediant Communications Inc, · currency: CAD
unsecured creditorsnote: The name embeds “USD”, but the schedule's single amount column is headed $CDN — recorded as CAD as stated. · page: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 64346 · debtor: Otso Gold Corp. · creditor: NGR USD · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 11538 · debtor: Otso Gold Corp. · creditor: Nordic Ventures Advisory AB · currency: CAD
unsecured creditorsnote: Pandion Mine Finance LP also holds the secured claim of $31,105,947 — both capacities recorded as the document states them. · page: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 111159 · debtor: Otso Gold Corp. · creditor: Pandion Mine · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 132523 · debtor: Otso Gold Corp. · creditor: Pricewaterhouse · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 4746 · debtor: Otso Gold Corp. · creditor: Streetwise · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 8680 · debtor: Otso Gold Corp. · creditor: Twin Butte · currency: CAD
unsecured creditorsnote: The amount is stated as “Unknown”. · page: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · debtor: Otso Gold Corp. · creditor: TSX Venture Exchange · currency: CAD
unsecured creditorspage: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 76863 · debtor: Otso Gold Corp. · creditor: GFD & SMD · currency: CAD
unsecured creditorsnote: The name embeds “Usd”, but the schedule's single amount column is headed $CDN — recorded as CAD as stated. · page: 17 · basis: Schedule “B” — Unsecured Creditors, Book value ($CDN), to the same Form 87: “compiled based on information available to the Receiver as at the date of this Notice”. Stated total $1,097,452; the 26 stated whole-dollar rows sum to $1,097,453 — a $1 footing difference consistent with the schedule rounding each amount for display. Both recorded as the document presents them. · amount: 7595 · debtor: Otso Gold Corp. · creditor: 121 Group Usd · currency: CAD