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Otso Gold Corp., Receiver

Introduction and Overview

​On January 14, 2022, Deloitte Restructuring Inc. ("Deloitte") was appointed by the Supreme Court of British Columbia as receiver (the "Receiver") in respect of all assets and property of Otso Gold Corp.

MARKETING AND SALE PROCESS
The Receiver is seeking letters of intent ("LOI") for OGC's 49% joint venture interest in copper property comprising nineteen mineral claim licenses located in the Atlin Mining Division of northwestern British Columbia.

A copy of the Request for Letters of Intent and related documents can be found below under "Marketing and Sale Process"

LOI's must be submitted to the Receiver by mail, personally delivered, or sent by courier or email to the following contact information by 5:00 p.m. (MDT) on Friday, March 25, 2022.

Deloitte Restructuring Inc.
Attention: Naomi McGregor
700, 850 – 2 Street SW
Calgary, Alberta  T2P 0R8
Email: naomcgregor@deloitte.ca
Phone: 403-503-1423

SHAREHOLDER NOTICE
Effective December 3, 2021, trading of Otso Gold Corp. shares on the TSX Venture Exchange ("TSXV") under the symbol "TSXV:OTSO" was halted. At this time, the Receiver does not anticipate trading of OGC's shares to recommence.   

Shareholders may be entitled to a distribution through the receivership proceedings in the event there are funds remaining in the receivership estate after all secured and unsecured creditors of OGC are paid in full.  Additional information with respect to stakeholder recoveries will be made available on the Receiver's website as they become available.

FOREIGN PROCEEDINGS
OGC's subsidiary companies located in Sweden and Finland have filed restructuring proceedings in their respect jurisdictions. Additional information and related documents can be found below under "Foreign Proceedings".

Swedish Proceedings
On December 7, 2021, in the District Court of Soderton in case no. A-20470-21 (the "Swedish Proceeding"), Otso Gold AB obtained an order staying all proceedings against it until March 7, 2022 subject to further extension. On March 7, 2022 the stay was extended to June 7, 2022.

Finnish Proceedings
On December 7, 2021, in the District Court of Oulu in the proceeding no.2296579-4 (the "Finnish Proceeding"), Otso Gold OY ("OGOY") obtained an order staying all proceedings against it until December 31, 2021. On December 30, 2021 the stay was extended to February 15, 2022.

On February 17, 2022, the District Court of Oulu approved the commencement of the corporate restructuring proceedings of OGOY under the Finnish Restructuring of Enterprises Act and attorney Pekka Jaatinen of Castrén & Snellman was appointed administrator (the "Administrator"). 


Contact Information

​For further information, please contact Naomi McGregor at 403-503-1423 or naomcgregor@deloitte.ca


Documents

The documents hosted on this page may not meet Provincial Accessibility standards. We will respond to any requests for accessible formats regarding public documents and address those requests in a timely and appropriate manner. Please contact us at ashkeene@deloitte.ca.

1)  Court Orders



2)  Motion Materials



3)  Reports



4)  Notices and Other Documents



5)  Service Lists



6)  Marketing and Sale Process



Last updated Jun 15, 2022

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