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Phenomenome Discoveries Inc. and Phenomenome Laboratory Services Inc. - Status Updates

Transaction Closing

On November 1, 2016, the Receiver completed the Transaction with Med-Life Discoveries LP in accordance with the Sale Approval and Vesting Order granted on September 26, 2016.


September 26, 2016 - Approval and Vesting Order

On September 26, 2016, Madam Justice A.R. Rothery granted an Order which, among other things, authorized and directed the Receiver to take such necessary steps to complete the transaction (the "Transaction") with Med-Life Discoveries LP. The Receiver anticipates that the Transaction will close on November 1, 2016.


April 26, 2016 - Approval of Sales Process, KERP and Receiver's Borrowing Charge

Before the Honourable Mr. Justice B.J. Scherman in Chambers the 26th day of April, 2016, the Court of Queen's Bench for Saskatchewan heard the Receiver’s application seeking approval of the Sales Process and a further increase in the Receiver’s Borrowing Charge. This application had originally been made on April 15, 2016 however approval of the Sales Process was adjourned at that time. On April 15, 2016 the KERP was approved and an increase to the Receiver’s Borrowing Charge was granted. On April 26th, 2016 two Orders were granted approving the Sales Procedures and a further increase in the Receiver’s Borrowing Charge.


February 25, 2016 - Receivership Order

On February 25, 2016, FTI Consulting Canada Inc. was appointed as Receiver pursuant to an Order of the Court of Queen's Bench of Saskatchewan of all the assets, undertakings and properties of Phenomenome Discoveries Inc. and Phenomenome Laboratory Services Inc.


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Calgary, AB Canada T2P 5E9

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