On June 11, 2019, the Court of Queen’s Bench of Alberta (the “Court”) issued an Order (the “Receivership Order”) appointing Hardie & Kelly Inc. as receiver (the “Receiver”) of Clarocity Corporation (the “Company”). A copy of the Receivership Order is below.
Pending Sale of Assets
The Receiver has scheduled a Court application for June 19, 2019 at 10:30 a.m. at which time the Receiver intends to seek an Order approving the acceptance of of a Purchase and Sale Agreement (the “PSA”) entered into between the Receiver as vendor and iLOOKABOUT Corp. (“iLA”) as purchaser that would see iLA acquire all of the known assets of the Company which principally include the 100% interest in the shares of the Company’s United States subsidiary Clarocity Inc., a patent, bank accounts and receivables.
A copy of the PSA and the background information in respect of proposed sales transaction are included in the First Report of the Receiver which can be found below.
- Originating Application – filed June 5, 2019
- Affidavit of Colin Fisher – filed June 6, 2019
- Application by Receiver re: Approval of Sale and Vesting Order – filed June 13, 2019
- Bench Brief of Receiver re: Application for Approval of Sale and Vesting Order- filed June 13, 2019