On December 2, 2022, the Court of King’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 (the “BIA”), and sections 13(2) of the Judicature Act, R.S.A. 2000, c.J-2, 99(a) of the Business Corporations Act, R.S.A. 2000, c.B-9, and 65(7) of the Personal Property Security Act, R.S.A. 2000, c.P-7, whereby Alvarez and Marsal Canada Inc. was appointed Receiver, without security, of all of Alvaro Developers Inc. and Alvaro Limited Partnership (together “Alvaro” or the “Debtor”) current and future assets, undertakings and properties of every nature and kind whatsoever, and wherever situate, including all proceeds thereof (the “Property”).