Alberta · Receivership (court-appointed)

Affidavit of Craig Zaychkowsky (October 17, 2023)

Affidavit · 17 October 2023

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What we verified from this filing1 verified

secured creditorsnote: Affidavit states 'CFCU appears to be the only secured creditor of 314 Pure' (para 12, p.3). Total indebtedness broken down as: Mortgage-Principal $5,169,679.85, Interest Outstanding $134,687.87, Per Diem (as of Sept 2, 2023) $644.44, Authorized Overdraft $1,002,418.05, Letter of Credit $50,000.00; Legal Costs 'to be determined' (TBD, not included in total). A prior demand letter dated September 14, 2023 (Exhibit K) stated a slightly lower indebtedness of $6,339,676.47 as of that date (Mortgage-Principal $5,169,634.85, Interest $124,375.75, Per Diem $644.43, Overdraft $995,665.87, LC $50,000.00) plus accruing interest/costs. · page: 4 · as of: 2023-09-30 · amount: 6356785.77 · debtor: 314 Pure Cannabis Ltd. · creditor: Connect First Credit Union Ltd. (CFCU) · currency: CAD · security: General Security Agreement (June 29, 2021) - all present and after-acquired personal property, registered in PPR of AB, BC, SK, ON; Collateral Mortgage (June 29, 2021) registered as first charge over the Lands (originally Plan 1113727 Block 1 Lots 10-14, later subdivided) in the principal/registration amount of $7,000,000.00 (mortgage registered at 15.00% interest but committed rate is 4.55% per Commitment Letter); Assignment of Leases and Rents (June 29, 2021) over the Lands; Environmental Indemnity Agreement (June 29, 2021)