Alberta · CCAA
Affidavit of Michael Woodward
Affidavit · 22 February 2024
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What we verified from this filing4 verified
- financial positionnote: Shareholders' equity recorded at negative CAD$170,766,000 as at Dec 31, 2023. · page: 9 · as at: 2023-12-31 · basis: draft, unaudited consolidated financial statement (book value), IFRS Accounting Standards · scope: consolidated - Lynx Air Holdings Corporation and 1263343 Alberta Inc. (the Applicants) · currency: CAD · total assets: 429091000 · total liabilities: 599857000
- secured creditorsnote: Related party - Indigo is a shareholder of Lynx Holdco (25% Class B Common Shares) and Interim Lender in these proceedings. Amount is principal plus accrued and outstanding interest as at Dec 31, 2023. Initial Notes matured Dec 20, 2023; interest deferred under June 30, 2023 Deferral Agreement. · page: 25 · as of: 2023-12-31 · amount: 91489000 · debtor: Lynx Air Holdings Corporation (guaranteed by 1263343 Alberta Inc.) · creditor: Indigo Northern Ventures LP · currency: CAD · security: General Security Agreement dated October 28, 2021 (Note General Security Agreement) over all present and after-acquired personal property of the Applicants; Initial Notes issued pursuant to Note Purchase Agreement, originally USD$54,100,000 (CAD$71,242,031 equivalent)
- secured creditorsnote: Related party (shareholder/Interim Lender). Two Bridge Notes outstanding as at Dec 31, 2023: approximately CAD$8,415,000 (issued Feb 24, 2023, principal CAD$7,110,000) and approximately CAD$6,072,000 (issued Mar 10, 2023, principal CAD$5,169,375); components not summed. · page: 26 · as of: 2023-12-31 · debtor: Lynx Air Holdings Corporation (guaranteed by 1263343 Alberta Inc.) · creditor: Indigo Northern Ventures LP · currency: CAD · security: First Bridge Note General Security Agreement dated February 24, 2023 over all present and after-acquired personal property of the Applicants
- secured creditorsnote: Related party (shareholder/Interim Lender). Outstanding amount as at Dec 31, 2023 including accrued interest. · page: 26 · as of: 2023-12-31 · amount: 10365000 · debtor: Lynx Air Holdings Corporation · creditor: Indigo Northern Ventures LP · currency: CAD · security: Second Bridge Note (principal CAD$10,000,000) issued October 26, 2023 pursuant to Second Bridge Note Purchase Agreement; security terms not stated on excerpted pages