Les Productions Horticoles Demers Inc., Les Serres Demers Inc., Les Serres Olivier Inc., Immeubles PHD S.E.C. & 9718656 Canada Inc.

Notice of Intention to Make a Proposal

^{Page last updated: June 24, 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 June 12, 2026

As of June 5, 2026, the Notices of intention filed by Les Productions Horticoles Demers Inc. and Les Serres Demers Inc. on January 8, 2026, and by Les Serres Olivier Inc. and 9718656 Canada Inc. on January 12, 2026 are deemed withdrawn and cancelled for all purposes, in accordance with the Approval and Reverse Vesting Order (the “RVO”) rendered by the Superior Court of Quebec on June 2, 2026, meaning that the companies have now emerged from the Notices of Intention Proceedings as solvent entities.

Notice is hereby given that the bankruptcy of Immeubles PHD s.e.c., 9569‑0707 Quebec Inc. and 9569‑0715 Quebec Inc. occurred on the 12th day of June 2026 and PricewaterhouseCoopers Inc., LIT (Philippe Jordan, CPA, CIRP, LIT) was appointed as Trustee of the estate of the bankrupt by the Court, subject to affirmation by the creditors of the trustee’s appointment or substitution of another trustee by the creditors.

In accordance with the RVO, certain assets and liabilities were transferred to 9569‑0707 Quebec Inc. and 9569‑0715 Quebec Inc. Please refer to the notice of bankruptcy in the “Notice to Creditors” section for the list of transferred assets and liabilities.

The first meeting of creditors will be held on the 23rd day of June 2026 at 10:00 a.m. by videoconference, the link to which can be obtained by communicating with the trustee by email at: ca_pwc_qc@pwc.com.

We refer you to the “Notice to creditors” and “Court Motions and Orders” sections.

Status of file as of June 2, 2026

On June 2, 2026, further a motion filed by the Trustee, the Superior Court issued two orders authorizing the proposed sale transactions involving Les Serres Savoura Lévis Inc. and Les Serres Savoura Drummondville Inc., on the one hand, and Gestion PHD Inc., on the other hand.

We refer you to the “Court Motions and Orders” section for more details.

Status of file as of April 30, 2026

On April 30, 2026, further a motion filed by the debtors, the Superior Court approved an extension of time to file a proposal until June 12, 2026.

We refer you to the “Court Motions and Orders” section for more details.

Status of file as of March 18, 2026

On March 18, 2026, further a motion filed by the debtors, the Superior Court approved an extension of time to file a proposal until May 1, 2026.

We refer you to the “Court Motions and Orders” section for more details.

Status of file as of February 5, 2026

On February 5, 2026, further a motion filed by the debtors, the Superior Court approved an extension of time to file a proposal until March 20, 2026.

We refer you to the “Court Motions and Orders” section for more details.

Status of file as of January 13, 2026

On January 13, 2026, further a motion filed by the debtors, the Superior Court issued an Order approving, among other things, an interim financing and the implementation of a sale and investment solicitation process.

We refer you to the “Court Motions and Orders” section for more details.

Status of file as of January 12, 2026

Les Serres Olivier Inc., Immeubles PHD S.E.C. and 9718656 Canada Inc. (the "Debtors") each have filed with the Official Receiver a “Notice of Intention to Make a Proposal” pursuant to Subsection 50.4(1) of the Bankruptcy and Insolvency Act on January 12, 2026.

Pursuant to Section 69 of the Bankruptcy and Insolvency Act, all proceedings against the Debtors are stayed as of the date of filing the Notice of Intention to Make a Proposal with the Official Receiver.

Status of file as of January 8, 2026

Les Productions Horticoles Demers Inc. et Les Serres Demers Inc. (the "Debtors") each have filed with the Official Receiver a “Notice of Intention to Make a Proposal” pursuant to Subsection 50.4(1) of the Bankruptcy and Insolvency Act on January 8, 2026.

Pursuant to Section 69 of the Bankruptcy and Insolvency Act, all proceedings against the Debtors are stayed as of the date of filing the Notice of Intention to Make a Proposal with the Official Receiver.