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Sale and Investment Solicitation Process (SISP)

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 November 21, 2025

On November 20, 2025, the Court issued an (the “SISP Order”) which, among other things:

  1. Approved a sale and investment solicitation process in the form attached as Appendix D to the First Report of the Monitor (the “SISP”);
  2. Approved the Stalking Horse Purchaser Agreement, dated November 13, 2025, between the Voxtur Analytics Corp. and MTAG Paralegal Professional Corporation, as Vendors and Hale as Stalking Horse Purchaser; and
  3. Authorized the Applicants to implement the SISP with the assistance of the Monitor.

The proposed SISP contemplates a single-phase process with the potential for an auction. The SISP will commence immediately upon the Court granting the SISP Order.

The table below sets out the key milestones under the proposed SISP:

Any terms not otherwise defined on this page have meaning ascribed to them in the SISP or the SISP Order.

Stage Description Timing/Deadline
Preparation
  1. assemble due diligence information;
  2. preparation of the virtual data room (“VDR”);
  3. identify Known Potential Bidders; and
  4. prepare the Teaser Letter, Non-Disclosure Agreement (“NDA”) and SISP letter.
 In advance of the Court approval of the SISP. 
Solicitation Process 
  1. Monitor to disseminate the teaser and SISP letter to Known Potential Bidders and any other interested parties and set up VDR; and
  2. Monitor to post SISP related materials on the Monitor’s Website.
 By no later than 4 days following issuance of the SISP Order (November 24, 2025). 
Preliminary Due Diligence and Submission of Bids 
  1. Monitor to provide interested parties who have executed an NDA with access to the VDR; and
  2. Bids from interested parties are due by the Bid Deadline, in accordance with the requirements of paragraph 16 of the SISP.

November 24, 2025 to January 8, 2026.

Bid Deadline: January 8, 2026, at 5:00 p.m. (Toronto time). 
Determination of Qualified Bids  The Monitor and the Applicants to assess Bids using criteria outlined in the SISP to determine if a Bid is a Qualified Bid and if an Auction will be held. Through to January 13, 2026. 
Proceeding to Auction or Terminating SISP and Seeking Approval of Stalking Horse Bid  
  1. if no Qualified Bid, other than the Stalking Horse Bid, is received then the Monitor may terminate the SISP and proceed to seek Court approval of the Stalking Horse Agreement to implement the transaction contemplated therein; or
  2. if one or more Bid is determined to be a Qualified Bid, then the Monitor shall hold an Auction as outlined in the SISP.
 As soon as practicable but by no later than January 14, 2026 
Approval Motion  Hearing for the Approval Order.  No later than: (i) January 14, 2025 (if there is no Auction); or (ii) January 20, 2026 (if there is an Auction), in either case subject to Court availability. 
U.S. Approval Motion  Hearing for the U.S. recognition of the sale approval motion.  No later than January 30, 2026, subject to U.S. Court availability. 
Outside Date - Closing   Outside Date by which the Successful Bid must close. 

No later than February 16, 2026. 

More information about the SISP is provided in the Monitor’s First Report which may be accessed at the bottom of this page

If you have any questions, or require further information about the SISP, please contact the Monitor at ca_voxtur@pwc.com

Title Date
First Report of the Monitor 2025-11-18
SISP Order 2025-11-20
Endorsement of J Dietrich 2025-11-20
SISP 2025-11-20

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