Ontario · CCAA

First Report of the Proposal Trustee dated May 25, 2026

Court officer report · 25 May 2026

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What we verified from this filing1 verified

secured creditorsnote: Deemed-trust class (GST/HST). Amount is the sum stated in CRA's Requirement to Pay dated April 22, 2026 to CIBC ('April 2026 RTP'), the Company's sole operating bank account, which precipitated the NOI filing. Underlying GST/HST reassessment (Notices of Assessment dated March 2, 2023) disallowed ITCs of $15,695,124 plus gross-negligence penalties/interest under s.285 Excise Tax Act; CRA's Appeals Division (letter May 13, 2024) confirmed disallowance of $15,658,841.56 in ITCs. CRA's claimed total balance escalated over time: RTP to RBC (Jan 12, 2024) $27,944,666.52; RTP to Scotiabank (July 9, 2025) $31,054,133.85; CRA demand letter (Oct 23, 2025) $31,807,932.93; RTP to CIBC (Apr 22, 2026) $31,822,645.36 — later cancelled effective May 4, 2026, though CRA stated cancellation 'does not affect the rights of the Canada Revenue Agency under any of the acts it administers.' The Company disputes the Assessment (Notice of Objection filed May 10, 2023; Notice of Appeal to Tax Court of Canada dated February 9, 2026, currently outstanding). First Report (May 25, 2026) describes the claim in prose as 'exceeding $32 million.' · page: 17 · as of: 2026-04-22 · amount: 31822645.36 · debtor: 999 Gold Depot (Canada) Limited · creditor: Canada Revenue Agency (CRA) · currency: CAD