PwC Sales Process and Status July 4, 2019
The sales process has been completed and Resource Capital has accepted an offer to sell substantially all of its assets to Sprott, through a nominee Company, via a credit bid which offered consideration of $2.2 million in the form of a forgiveness of the Interim Financing Facility.
As a result, Resource Capital filed notices with the Supreme Court of British Columbia today for a court hearing to be scheduled for Thursday, July 11, 2019 during which Resource Capital will be seeking an order approving the sale of its assets to 2672403 Ontario Inc., the Sprott nominee Company.
As the sale does not provide sufficient proceeds to satisfy the secured debts owing by Resource Capital, the group does not anticipate being able to file a viable proposal to its creditors. As a result, Resource Capital expects to be deemed bankrupt following July 12, 2019.
https://www.pwc.com/ca/en/services/insolvency-assignments/resource-capital-gold-corp-et-al-.html