SMARTONE SOLUTIONS INC.

Receivership

^{Page last updated: May 29, 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 May 28, 2026

On May 28, 2026, the Court issued the:

1. Sale Process Order which, among other things, approved the Sale Process; and
2. Order which, among other things, approved:
   1. Activities of the Receiver to date, as described in the First Report; and
   2. 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:

1. An order (the “Sale Process Order”), to among other things, approve a process for the solicitation of a sale transaction (the “Sale Process”); and
2. An order (the “Order”), to among other things, approve:
   1. Activities of the Receiver to date; and
   2. 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:

1. Background information on the proceedings commenced pursuant to the Receivership Order (the “Receivership Proceedings”);
2. 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;
3. Receiver’s receipts and disbursements since the date of the Receivership Order;
4. 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.