2105384 Ontario Inc. et al

Receivership

^{Page last updated: January 6, 2026}

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.

Status of file as of December 29, 2025

On December 19, 2025, the Receiver filed its motion with the Court for the following orders:

1. An approval and vesting order (the “Hubbel AVO”) to, among other things:
   1. Approve a sale transaction (the “Hubbell Transaction”) in respect of certain property of Altruist Herbal Aid Inc., as contemplated by an agreement of purchase and sale between the Receiver and Birwa A. Patel and Jigar Chandubhai Patel, dated November 23, 2025 (the “Hubbell APS”); and
   2. Authorize the Receiver to make distributions from the net proceeds of the Hubbell Transaction to Desjardins, subject to a reserve for the remaining costs of the receivership; and
2. An approval and vesting order (the “Montrose AVO”) to, among other things:
   1. Approve a sale transaction (the “Montrose Transaction”) in respect of certain property of 2730736 Ontario Inc., as contemplated by an agreement of purchase and sale between the Receiver and 1001407264 Ontario Inc., dated December 9, 2025 (the “Montrose APS”); and
   2. Authorize the Receiver to make distributions from the net proceeds of the Montrose Transaction to Desjardins, subject to a reserve for the remaining costs of the receivership and the VTB Holdback (as defined in the First Report); and
3. An order (the “Ancillary Order”) to, among other things:
   1. Approve the First Report (as defined below) of the Receiver and the activities described therein;
   2. Approve the fees and disbursements of the Receiver and its legal counsel, Thornton Grout Finnigan LLP (“TGF”) as set out in the First Report; and
   3. Seal the Confidential Appendices “A”  and “B” to the First Report until the closing date of the Hubbel Transaction and the Montrose Transaction.

On the same date, the Receiver filed its First Report to the Court (the “First Report”) to provide the Court with the information regarding:

1. Additional information on the Companies, the Mortgaged Lands and the events leading up to the receivership;
2. An update on the activities of the Receiver since the Receivership Date;
3. An overview of the Receiver’s motion for the Montrose Property AVO, the Hubbel Property AVO and Ancillary Relief Order.

The motion will be heard on December 29, 2025.

Status of file as of July 11, 2025

On July 10, 2025 (the “Receivership Date”), on application by Caisse Desjardins Ontario Credit Union Inc. (the “Applicant”, or “Desjardins”)), pursuant to an order (the “Receivership Order”) of the Ontario Superior Court of Justice (the “Court”), section 243 (1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c.B-3, as amended (the “BIA”) and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended, PricewaterhouseCoopers Inc., LIT (“PwC”) was appointed as receiver and manager (the “Receiver”), without security, of all of the assets, undertakings and properties of 2105384 Ontario Inc., Altruist Herbal Aid Inc., Asadel Mohid Ehaan Holdings Inc., Paragon Noble Construction Inc., Konain Holdings Inc., Paragon Health Store Inc., Amina Khadeeja Holdings Inc., 2730736 Ontario Inc., Jabran Holdings Inc., The Ascending Stairways Inc., 4429151 Manitoba Ltd., and Hidden Keys Natural Medicines Inc. (collectively, the “Companies”) acquired for or used in relation to the Companies’ businesses, including all proceeds thereof (the “Property”) including, in particular:

1. the property located at 662 Long Lake Road, Barry’s Bay, Ontario, the property located at 682 Long Lake Road, Barry’s Bay, Ontario and the property located at 695 Long Lake Road, Barry’s Bay, Ontario (collectively, the “2105384 Mortgaged Property”);
2. the property located at 36 Hubbell Road, Brampton, Ontario (the “Altruist Mortgaged Property");
3. the property located at 9 & 10 Salo Road, Sudbury, Ontario (the “Asadel Mortgaged Property”); and
4. the property located at 1191 Montrose Avenue, Sudbury, Ontario (the “2730736 Mortgaged Property”, and collectively with 2105384 Mortgaged Property, the Altruist Mortgaged Property and the Asadel Mortgaged Property, the “Mortgaged Lands").

On July 21, 2025, a Notice and Statement of the Receiver (the “Notice”) was sent to all known creditors of the Companies in accordance with the provisions of the BIA. A copy of the Notice is available on the “Notices” page of this website.