Pursuant to an order of the Ontario Superior Court of Justice (Commercial List) (the “Court”) dated March 6, 2023, Alvarez & Marsal Canada Inc. was appointed as receiver and manager (in such capacity, the “Receiver”), without security, of all of the assets, undertakings and properties of each of 2305145 Ontario Inc. (formerly, Skymark Finance Corporation) (“230”) and Merk Investments Ltd. (“Merk”, together with 230, the “Companies”).

On September 26, 2023, the Court issued an order among other things, approving a sale transaction (the “Transaction”) contemplated by an agreement of purchase and sale between the Receiver and 5051802 Ontario Inc. (the “Purchaser”) and vesting in the Purchaser all right, title and interest in and to certain specified assets of 230, including, among other things, a portfolio of loans and leases to consumer borrowers for home renovations, water systems, HVAC system and smart home improvements (the “Consumer Portfolio”) and on September 29, 2023, the Transaction closed.