Larcan Inc.

Larcan Inc’s (“Larcan”) primary business was the design and manufacture of VHF and UHF broadcast transmitters.  On October 21, 2014 an application was made by GPM (11) GP Inc. for an order that Larcan be adjudged bankrupt.  On November 4, 2014 the Superior Court of Justice made a bankruptcy order (“Bankruptcy Order”) against Larcan and Dodick Landau Inc. was appointed Trustee in Bankruptcy (“Trustee”).  Pursuant to the Bankruptcy Order, a stay of proceedings has been initiated and all proceedings against Larcan are stayed as of the date of filing of the Bankruptcy Order. Following the issuance of the Bankruptcy Order, the Trustee carried out sales of the assets of Larcan by private sale to an industry participant that will continue to operate a segment of the business, and by public auction.  The Bankruptcy Order relates only to Larcan’s Canadian operations and does not include the operations of its wholly owned subsidiary in the United States which is no longer operating.  The Trustee obtained its discharge and distributed the final dividend to the creditors in May 2018.