Tacora Resources Inc.

On October 10, 2023, Tacora Resources Inc. ("Tacora" or the "Company") sought and obtained an initial order (the "Initial Order") under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the "CCAA"). The Initial Order provides, among other things, a stay of proceedings until October 20, 2023 (the "Stay Period") and may be extended by the Court from time to time. Pursuant to the Initial Order, FTI Consulting Canada Inc. was appointed as monitor (the "Monitor") of the Company.

On October 30th, 2023, Tacora obtained an amended and restated initial order (the "ARIO") extending the period of the Court-ordered stay of proceedings against Tacora under the CCAA until February 9, 2024.

On October 30th, 2023, Tacora obtained an order approving the Sale and Investment Solicitation Process (the "SISP"). Please refer to the Sale and Investment Solicitation Process section of this website for further information.

On December 5, 2023, Tacora obtained an order authorizing and approving nunc pro tunc two payments made in connection with the two premium finance contracts between FIRST Insurance Funding of Canada Inc. and Tacora.

On January 25, 2024, Tacora obtained an order approving the Premium Finance Agreement dated January 10, 2024 between Marsh Canada Limited - Toronto and Tacora.

On January 25, 2024, Tacora obtained an order extending the Stay Period until and including March 18, 2024.

On March 25, 2024, Tacora obtained an order extending the Stay Period until and including April 26, 2024.

On April 23, 2024, the Court granted an order (the "Claims Procedure Order"), approving a procedure for the identification, quantification, and resolution of certain claims of creditors of the Company and its Directors and Officers. Please refer to the Claims Procedure section of this website for additional information regarding the Claims Procedure.

On April 26, 2024, Tacora obtained an order extending the Stay Period until and including June 24, 2024 and approving the Second Amended DIP Agreement.

On June 5, 2024, Tacora obtained an order extending the Stay Period until and including July 29, 2024.

On June 5, 2024, the Court granted an order (the "Sale Process Order") authorizing Tacora to undertake a sale process, (the "Sale Process"). Please refer to the Sale and Investment Solicitation Process section of this website for further information.

On July 18, 2024, Tacora advised the Service List that the parties will not be proceeding with the motions returnable July 22, 2024 at 10:00 a.m. (ET), which included (a) the Reconstituted Preliminary Threshold Motion; (b) Cargill's Global Process Motion; and (c) Cargill's Disclaimer Motion.

On July 26, 2024, Tacora obtained an order extending the Stay Period until and including October 7, 2024.

The closing of the Transactions has occurred pursuant to the Reverse Vesting Order granted by the Honourable Justice Kimmel. A copy of the Monitor's Certificate was delivered on September 19, 2024 at 3:28 p.m. ET. In accordance with the Reverse Vesting Order, the Applicant has ceased to be an applicant in these CCAA Proceedings and ResidualCo is a company to which the CCAA applies, and ResidualCo was added as an applicant in these CCAA Proceedings.

On October 7, 2024, 16323715 Canada Inc ("ResidualCo") received an order (the "CCAA Termination Order"), extending the stay of proceedings until and including the CCAA Termination Time as defined in the CCAA Termination Order.

Further details relating to this matter may be accessed by using the menu to the left, or contacting the Monitor using the information below:
Phone: 1-416-649-8138
Toll Free: 1-833-420-9074
Email: Tacora@fticonsulting.com