Alberta · CCAA
First Report of the Monitor
Court officer report · 24 March 2025
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What we verified from this filing6 verified
- secured creditorsnote: Charge in favour of court officers/professionals for fees and disbursements · page: 4 · as of: Initial Order date (February 19, 2025) · amount: 300000 · debtor: Royal Helium Ltd., Imperial Helium Corp., Royal Helium Exploration Limited · creditor: Monitor, Monitor's Counsel (BD&P) and Companies' Counsel (Reconstruct LLP) · currency: CAD · security: Amended Administration Charge - maximum amount of $300,000, ranking first in priority over Applicants' assets and property
- secured creditorsnote: Secures New DIP Facility (maximum $2.5 million) under DIP Term Sheet dated February 19, 2025, refinancing the Original/Former DIP Facility provided by Energy & Specialty Gases, LLC · page: 4 · as of: Initial Order date (February 19, 2025) · amount: 1500000 · debtor: Royal Helium Ltd., Imperial Helium Corp., Royal Helium Exploration Limited · creditor: DIP Lenders (Canadian Western Bank and Business Development Bank of Canada) · currency: CAD · security: DIP Lenders' Charge - maximum principal amount of $1,500,000, ranking second in priority over Applicants' assets and property
- secured creditorsnote: DISCHARGED - Former DIP Facility repaid via NOI DIP Repayment of $644,000 during the Reporting Period; not a current secured claim · page: 11 · debtor: Royal Helium Ltd., Imperial Helium Corp., Royal Helium Exploration Limited · creditor: Energy & Specialty Gases, LLC · currency: CAD · security: Former DIP Facility (now discharged/repaid)
- process resultsndas: 16 · note: sixteen fully executed NDAs as of March 16, 2025 · as of: 2025-03-16
- sale advisorAlvarez & Marsal Canada Inc.
- sale outcometext: SISP commenced, marketing underway, no bids selected yet as of this report · scope: whole_business · status: process_approved