SMARTONE SOLUTIONS INC.
Receivership
Page last updated: July 15, 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 July 15, 2026
Pursuant to the Sale and Investment Solicitation Process (“SISP”), approved by the Court on May 28, 2026, the Phase 2 Binding Bid Deadline is being extended to July 24, 2026 at 5:00 pm (EST) (the “Phase 2 Binding Bid Deadline Extension”). Key process details are below:
| Milestone | Description | Deadline |
| Expression of Interest Deadline (Phase 1) | Deadline for Potential Bidders to submit an Expression of Interest | 5:00 p.m. Eastern Time on June 12, 2026 |
| Expression of Interest Selection Date | The Receiver evaluates Expressions of Interest and selects Bidders to participate in Phase 2 | 5:00 p.m. Eastern Time on June 16, 2026 |
| Binding Bid Deadline (Phase 2) | Deadline for Phase 2 Bidders to submit a Binding Bid | 5:00 p.m. Eastern Time on July 24, 2026 |
| Selection of Qualified Bids | The Receiver determines whether Binding Bids constitute Qualified Bids and notifies parties accordingly | 5:00 p.m. Eastern Time on July 31, 2026 |
| Auction (if necessary) | The Receiver hosts an auction, if determined to be necessary | August 7, 2026 |
| Selection of Successful Bidder(s) and Execution of Definitive Transaction Agreement(s) | The Receiver selects one or more Successful Bids and negotiates a Definitive Transaction Agreement | No later than August 12, 2026 |
| Hearing of the Sale Approval Motion | Hearing for the Sale Approval Motion in respect of the Successful Bid(s) | No later than August 21, 2026, subject to Court availability |
| Closing (Outside Date) | Closing of the Successful Bid(s) | Forthwith following Court approval and no later than September 9, 2026 |
How to Submit Your Binding Bid
Your complete binding bid package must be received by 5:00 pm (EST) on July 24,2026. Submit by email in accordance with Schedule 1 of the SISP to:
- Graham Page (graham.page@pwc.com) or
- Meagan Greenbaum (meagan.greenbaum@pwc.com)
If you have any questions about delivering your bid or wiring the deposit, please contact the Receiver at ca_smartone@pwc.com in advance of the deadline. As a reminder, all communications must be directed through the Receiver—please do not contact SmartONE management or employees directly without the Receiver’s prior written consent.
Status of file as of May 28, 2026
On May 28, 2026, the Court issued the:
- Sale Process Order which, among other things, approved the Sale Process; and
- Order which, among other things, approved:
- Activities of the Receiver to date, as described in the First Report; and
- An increase to the Receiver’s Borrowings Charge from $4,400,000 to $6,550,000.
Status of file as of May 21, 2026
On May 21, 2026, the Receiver filed its motion for:
- An order (the “Sale Process Order”), to among other things, approve a process for the solicitation of a sale transaction (the “Sale Process”); and
- An order (the “Order”), to among other things, approve:
- Activities of the Receiver to date; and
- An increase to the maximum principal amount available under the Receiver’s Borrowings and secured by the Receiver’s Borrowings Charge from $4,400,000 to $6,550,000.
On the same date, May 21, 2026, the Receiver filed its First Report (the “First Report”) to provide the Court with information with respect to the:
- Background information on the proceedings commenced pursuant to the Receivership Order (the “Receivership Proceedings”);
- Receiver’s activities since the date of the Receivership Order, including extensive efforts to stabilize the Company’s business and prepare for the Sale Process;
- Receiver’s receipts and disbursements since the date of the Receivership Order;
- Receiver’s view for the grounds for the Sale Process Order and the Order.
The motion will be heard on May 28, 2026.
Status of file as of December 11, 2025
On December 11, 2025, on application by Bell Canada (the “Applicant”), pursuant to an order (the “Receivership Order”) of the Ontario Superior Court of Justice (Commercial List) (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, property and undertakings (collectively, the “Property”) of SmartONE Solutions Inc. (the “Company”).
A Notice and Statement of the Receiver (the “Notice”) will be sent to all known creditors of the Company in accordance with the provisions of the BIA. A copy of the Notice will be available on the “Notices” page of this website.
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