On February 20, 2018, the Court of Queen’s Bench of Alberta (the “Court”) granted an Order (the “Receivership Order”) pursuant to section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 (“BIA”) and section 13(2) of the Judicature Act, R.S.A. 2000, cJ-2 , whereby Alvarez & Marsal Canada Inc. (“A&M”) was appointed receiver and manager (the “Receiver”) of all of Manitok Energy Inc. (“Manitok”) and Raimount Energy Corp. (“Raimount”, Manitok and Raimount are collectively referred to as the “Manitok Group”) current and future assets, undertakings and properties of every nature and kind whatsoever, and wherever situate, including proceeds thereof (the “Property”).

On January 10, 2018, Manitok and Raimount filed Notices of Intention to File a Proposal (“NOI”) pursuant to Part III, Division I of the BIA.   On January 19, 2018, an additional subsidiary of Manitok known as Corithian Oil Corp. (“Corinthian”) filed an NOI.   On February 20, 2018, an Order from the Court was granted terminating the NOI proceedings for each of the three debtor companies.  A&M was substituted, in place of FTI Consulting Canada INc., as the trustee in bankruptcy of Manitok, Raimount and Corinthian in the bankruptcy proceedings under estate numbers 25-2332583, 25-2332610 and 25-2335351, respectively.

Manitok is a public oil and gas exploration and development company focusing on conventional oil and gas reservoirs in the Canadian Foothills along with crude oil in Southeast Alberta.