IN THE SUPREME COURT OF BRITISH COLUMBIA
IN THE MATTER OF THE COMPANIESB次元官网网址� CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c. C-36, AS AMENDED
AND
IN THE MATTER OF THE BUSINESS CORPORATIONS ACT, S.B.C., c. 57, AS AMENDED
AND
IN THE MATTER OF BLACK PRESS LTD., 311773 B.C. LTD., AND THOSE ENTITIES LISTED IN SCHEDULE B次元官网网址淎B次元官网网址�
PETITIONERS
NOTICE TO STAKEHOLDERS
On January 15, 2024, the Supreme Court of British Columbia (the B次元官网网址�CourtB次元官网网址�) pronounced an Order which, among other things, granted the Petitioners and certain related entities (the B次元官网网址�Non-Petitioner Stay PartiesB次元官网网址�) protection from their creditors pursuant to the CompaniesB次元官网网址� Creditors Arrangement Act (Canada) (the B次元官网网址�CCAAB次元官网网址�). KSV Restructuring Inc. was appointed as the monitor in the CCAA proceedings (in that capacity, the B次元官网网址�MonitorB次元官网网址�).
On January 25, 2024, the Court granted an Order which, among other things:
B次元官网网址� Authorized and directed Black Press Ltd. (B次元官网网址淏P HoldcoB次元官网网址�) and 311773 B.C. Ltd. (B次元官网网址�3117B次元官网网址�) to negotiate a Stalking Horse Transaction Agreement with the holders of certain senior secured notes (the B次元官网网址淣oteholdersB次元官网网址�) and Carpenter B次元官网网址media, LLC (B次元官网网址淐NLB次元官网网址�);
B次元官网网址� Approved a sale and investment solicitation process (the B次元官网网址�SISPB次元官网网址�), in which the Stalking Horse Transaction Agreement would act as the Stalking Horse Bid.
At the conclusion of the SISP, no Qualified Bids (as defined in the SISP), other than the Stalking Horse Bid, were received, and in accordance with the terms of the SISP, the Stalking Horse Bid was deemed the Successful Bid (as defined in the SISP). BP Holdco and 3117 have entered into a Share Subscription Agreement, dated March 1, 2024 (the B次元官网网址�SSAB次元官网网址�) with an entity formed on behalf of the Noteholders and CNL (such entity, the B次元官网网址�PurchaserB次元官网网址�).
The Petitioners give notice that an application will be heard by the Supreme Court of British Columbia (the B次元官网网址淐ourtB次元官网网址�) on Monday, March 11, 2024 at 10:00 a.m. local time in Vancouver, British Columbia for approval of the transactions contemplated by the SSA, as well as certain other relief.
Copies of the PetitionersB次元官网网址� Notice of Application and the documents relied on in support of the application, as well as all other Court materials in relation to the CCAA proceedings, can be found at the MonitorB次元官网网址檚 website at:
If the Court authorizes virtual attendance at the hearing, a link to the virtual hearing will be posted on the MonitorB次元官网网址檚 website.
