via SCC.ca - Calculating Deadlines

According to the Supreme Court, calculating deadlines is based on calendar days including holidays. We are presently beyond the stay of proceedings deadline of 45 days' extension, with no repeat of the stay of proceedings.

The maximum period for extensions of stay of proceedings is five months' time, but since there was no extension, that would mean the stay of proceedings has been lifted. That the stay of proceedings has been lifted and there was no immediate seizure of assets, means the SISP would have been concluded.

That the stay of proceedings has been lifted, or that there was no announcement or court order of a further stay of proceedings means that the SISP was concluded. I surmise that assets for sale were gold doré bars swapped for cash with the asset-based financing, the 'first tranche' as it were. There was also no proposal of any mention, which is required under the circumstances.

What should have occurred is an asset transfer to GBN.H of the proceeds of the asset based financing, which went unannounced. The trading halt has remained in place. Theres been absolutely no news on the release of the company from the BIA, though, which is what you would expect.

But the DIP financing providing money during the period of restructuring is the same absolute rotten nonsense that we've had to put up with for years, so no change there. But the DIP financing could also be an act of outright fraud to simply take possession of the shares.

I can only assume that the whole proceeding of the BIA was a planned event, aimed directly at squeezing out smaller players, opening the door to larger ones, much like the supposed reverse split and no-bid period.

Just the fact that CCAA was not declared for a presumed insolvency and a missed prepayment of $20m. lends a lot of weight to the utter fabrication of events to date.

http://www.scc-csc.ca/ar-lr/deadlines-delais-eng.aspx

-F6