Hardie & Kelly ASSETS FOR SALEASSETS FOR SALE

Octopus Holdings Ltd.

On June 13, 2019, the Court approved a stalking horse sales process for Hardie & Kelly Inc. as Receiver of Octopus Holdings Ltd. to undertake to attempt to seek a Superior Offer (as defined below) for the sale of the Receiver’s right, title and interest in 40 units in the East Winds Carribbean Limited Partnership (“EWCLP”), the substantial asset of which is a wholly owned interest in the East Winds Resort located in Labrelotte Bay, Quarter of Gros Islet, Saint Lucia.

Upon execution of a Confidentiality Agreement acceptable to the Receiver, interested parties will be provided access to an electronic data room.

Interested parties must submit a Final Bid by 12:00 p.m. (Mountain Time) on Friday, August 23, 2019, or such other date and time as may be agreed by the Receiver.

A Final Bid will only be considered a Superior Offer, if it contains, inter alia:

  • A duly executed purchase and sale agreement, which contains substantially the same terms and conditions as the Proposed Stalking Horse APA; and
  • A blackline of the purchase and sale agreement to the Proposed Stalking Horse APA;
  • It is for minimum cash considerations of;
    • $2,600,001 CAD; plus
    • An amount sufficient to satisfy the Post-Filing Amounts, with such amounts to be estimated by the Receiver if necessary;
    • It is conditional upon Court approval;
    • It includes written evidence of a financial commitment or such other indication of the ability to close;
    • It is accompanied by a non-refundable deposit (the “Deposit”) in the form of a wire transfer (to a bank specified by the Receiver) or such other form acceptable to the Receiver, in trust, in an amount equal to 10% of the total consideration in the Final Bid to be held and dealt with in accordance with this Stalking Horse Sales Process;
    • It is not conditional upon:
      • The outcome of unperformed due diligence by the bidder; or
      • Obtaining financing.
      • It is received by the bid deadline.

Interested parties are to contact Mr. Kevin Meyler at kmeyler@insolvency.net or 403.536.8526 for more information with respect to the sales process.

1219358 Alberta Ltd.

Hardie & Kelly Inc. in its capacity as Receiver of 1219358 Alberta Ltd. (“121”) is selling its right, title and interest in 121’s 19,562 Sq. Ft. warehouse/office building zoned for medium industrial situated on 5.02 acres of land in Edmonton Alberta.

Interested parties should contact the Receiver’s listing agent, Chris Van Den Biggelaar of Cushman & Wakefield, at 780-701-3287 or Marc Kelly of the Receiver at 403-536-8510.

Aten Holdings Ltd.

Hardie & Kelly Inc., in its capacity as Receiver of Aten Holdings Ltd. (“Aten”) is selling its right, title and interest in Aten’s 31,270 Sq. Ft partially completed commercial/industrial multiple tenant project situated in Crossfield Industrial West.

Interested parties should contact the Receiver’s listing agent, Iain Ferguson of CBRE, at 403-750-0803 or Kevin Meyler of the Receiver at 403-536-8526.

Rimstone Ridge Hotel Incorporated

Hardie & Kelly Inc., in its capacity as Receiver of Rimstone Ridge Hotel Incorporated (“Rimstone Ridge Hotel”) is selling its right, title and interest in the Rimstone Ridge Hotel, a 60 room and suite hotel located in Rimbey, Alberta, constructed in 2009 and currently operating under the Best Western Hotel banner.

Interested parties should contact the Receiver’s listing agent, Scott Duff of CBRE, at 416-815-2313 or Kevin Meyler of the Receiver at 403-536-8526.

101285461 Saskatchewan Ltd.

Hardie & Kelly Inc. in its capacity as Receiver of 101285461 Saskatchewan Ltd. is selling its right, title and interest in the Quality Inn – Yorkton, a 94 guest room hotel located in Yorkton, Saskatchewan.

Interested parties should contact the Receiver’s listing agent, Hamir Bansal of Colliers International at 604-661-0850.

1119658 Alberta Ltd.

Hardie & Kelly Inc. in its capacity as Receiver of 1119658 Alberta Ltd. is selling its right, title and interest in the Westwood Inn, a 53 guest room hotel located in Drayton Valley, Alberta.

Interested parties should contact the Receiver’s listing agent, Hamir Bansal of Colliers International at 604-661-0850.