CCAA 5th ExtensionI have read the 5 documents that comprise the 5th CCAA motion for extension. The CRO is asking not just for an extension but also a judicially approved priority list of creditors to be approved after May 1. This plus the mention by the CRO that they are in negotiations for a purchase and sale agreement for Dokie means the potential purchaser has now asked for a formal court approved list of creditors that will form part of the P&S agreement.
Interesting to say there is no mention this time of discussions with BC Hydro as there was in the 4th report and motion for extension. This is unusual as either BC Hydro told EF to go pound salt or any further mention would lead to stock speculation.
There is a back up bidder which means some traction and possibility of share price benefit if the actual omission of BC Hydro is considered leading information.
The Grand Valley sale has been postponed but Nuttby Mountain will close for $800,000 gross proceeds by April 15.
Looks like another two months of limbo before some real meaningful information.
WG