Proposal

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 at October 21, 2025

On October 20, 2025, the Court issued the Approval of Proposal, Additional Powers and Ancillary Relief Order which, among other things approved the Proposal filed by the Company on August 22, 2025 and accepted by the requisite majority of creditors at the Meeting of Creditors held on September 11, 2025.

Status of File as at August 22, 2025

On August 22, 2025, the Company lodged its proposal with the Proposal Trustee (the “Proposal”).

A general meeting of the creditors (the “Meeting of Creditors”) will be held virtually at 10:00 a.m. (Toronto Time), on September 11, 2025, for the purpose of considering the Company’s Proposal.

To join the Meeting of Creditors please follow the link below.

Link: https://www.microsoft.com/en-ca/microsoft-teams/join-a-meeting
and enter:

Meeting ID: 286 774 012 010 6

Passcode: KW63mL3t

The passcode is case sensitive

To be eligible to participate in the Meeting of Creditors, creditors must have filed a Proof of Claim form with the Proposal Trustee.

With the Proof of Claim, creditors may submit their Voting Letters if they do not intend to attend at the Meeting of Creditors but wish to vote on the Proposal.

Creditors who are not attending the Meeting of Creditors in person and who are entitled to vote on the Proposal, or who wish to designate another party to attend the Meeting of Creditors and vote on their behalf, are required to submit a Proxy form to the Proposal Trustee.  Creditors who are corporate bodies required to submit their Proxy designating an individual to attend the Meeting of Creditors on behalf of the corporation.

Proof of Claim, Voting Letter and Proxy (where applicable) must be filed with the Proposal Trustee by 2 p.m. (Toronto Time) on September 10, 2025 by email to ca_bravadodesigns@pwc.com.

For Creditors who are Employees:

Employees shall be deemed to have filed a Proof of Claim for the amount of termination, and where applicable, severance pay, as calculated by the Proposal Trustee in consultation with the Company and in accordance with the Employment Standards Act (Ontario) (the “Employee Termination Claims”). If Employees do not submit a Proof of Claim or vote on the Proposal, they will be deemed to have voted in favour of the Proposal and will receive a dividend in the amount of their Employee Termination Claim.

Employees are not bound by the Employee Termination Claims and may elect to file a Proof of Claim for another amount which will be assessed by the Proposal Trustee.

Employees who elect to submit a Proof of Claim for a different amount than the Employee Termination Claim will, to the extent such Proof of Claim is accepted by the Proposal Trustee, participate only in a distribution to unsecured creditors and will not receive a priority distribution in respect of an Employee Termination Claim.

Employees wishing to submit to the Proposal Trustee their Proof of Claim, Voting Letter and Proxy (where applicable) must do so by 2 p.m. (Toronto Time) on September 10, 2025 by email to ca_bravadodesigns@pwc.com.

On August 29, 2025, a Creditor Package consisting of a Notice of Proposal to Creditors, the Instructions Letter, the Proposal, the Trustee’s Report to Creditors on the Proposal, the Company’s Statement of Affairs with a list of the creditors whose claims amount to $250 or more, a Proof of Claim form, General Proxy form and Voting Letter was issued to all known creditors and is posted below on this page.

On the same date, a Creditor Package and Confirmation of Claim of Employee were issued to employees of the Company.

Proof of Claim, Voting Letter and Proxy form are also posted separately at the bottom of the page.

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