Introduction and Overview

On June 28, 2005, Deloitte Restructuring Inc., (formerly Deloitte & Touche Inc.) was appointed Receiver and Manager (the "Receiver") of Crocus Investment Fund ("Crocus") by the Manitoba Court of Queen's Bench (the "Court") pursuant to an application made by the Manitoba Securities Commission. The intent of the Receiver and Manager is to realize the assets of Crocus for the benefit of the various stakeholders including the Class A shareholders.

Shareholder Distributions

The Court has approved three (3) interim distributions and a fourth and final distribution as noted below (collectively the "Distributions"):

• First Interim Distribution on September 4, 2009;
• Second Interim Distribution on December 12, 2011;
• Third Interim Distribution on October 14, 2014; and
• Fourth (and Final) Distribution on January 17, 2022.

Depending on the type of account, shareholders received different types of correspondence relating to the Distributions. All applicable forms were sent by ordinary mail and were customized to include specific shareholder account and distribution information.

The following summarizes the various account categories that shareholders held and the documents which were sent:

Nominee Accounts

• Distribution funds were sent to the intermediaries of record for your broker/dealer and shareholders received an account statement and letter indicating same. 

Client Name Non-Registered Accounts and Client Name De-Registered Accounts

• Shareholders received a cheque and an account statement representing their portion of the distribution.

Client Name Registered Account (RIF/RSP)

• Shareholders were sent an account statement and a letter outlining two options of which only one was to be selected: Direct Transfer Authorization Form (Option A) or Direction to Deregister Form (Option B).
  

Client Name Locked-In Accounts (LIF/LIRA/LRIF)

• Shareholders were sent a Direct Transfer Authorization Form.

The Distributions will remain "open" for shareholders to claim their pro-rata entitlements up to and including September 30, 2022.  Any unclaimed distributions thereafter will be paid by the Receiver to the Minister of Finance, subject to the right of any unpaid shareholder to make a claim to the Minister of Finance to recover amounts to which they are entitled.

PLEASE NOTE: FORMS FOR UNCLAIMED DISTRIBUTIONS NOT RECEIVED PRIOR TO SEPTEMBER 30, 2022 CANNOT BE PROCESSED BY THE RECEIVER.

At present there are a number of shareholders who have unclaimed funds from one or more of the Distributions.  Should shareholders or their advisors have questions regarding the correspondence sent by the Receiver, please contact Crocus Shareholder Services prior to September 30, 2022 at 204-925-7788 or 1-866-893-8710.

Should shareholders or their advisors wish to send correspondence to the Receiver, please direct all correspondence to: 

Contact

Crocus Distribution

c/o Deloitte Restructuring Inc., Receiver and Manager of Crocus Investment Fund
P.O. Box 488, STATION MAIN
WINNIPEG, MANITOBA CANADA R3C 2J6
Phone: 204-925-7788 or 1-866-893-8710
Fax: 204-946-5992 
Email: info@crocusfund.com

Media inquiries should be directed to Caitlin Stidwill, Media Relations Manager, Deloitte at 416-775-7144.