Monarch Mining Corporation, Beacon Gold Mill Inc., Louvem Mines Inc. and 11306448 Canada Inc.

CCAA

^{Page last updated: September 29, 2024}

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 September 27, 2024

On September 27, 2024, the Superior Court of Québec issued an approval and vesting order approving a transaction for the sale of the Beacon property.

We refer you to the orders dated September 27, 2024, for further information.

Status of file as of August 29, 2024

On August 26, 2024, the Superior Court of Québec issued an order postponing the stay of all proceedings against the Debtors to November 29, 2024. On the same date, the Superior Court also issued an approval and vesting order approving a transaction for certain assets. We refer you to the orders dated August 29, 2024, for further information.

Status of file as of May 31, 2024

On May 29, 2024, the Superior Court of Québec issued an order postponing the stay of all proceedings against the Debtors to August 31, 2024. We refer you to the order dated May 29, 2024, for further information.

Status of file as of April 19, 2024

In accordance with the Claims Process Order issued on April 12, 2024, instructions to the affected creditors and all documentation relevant to the claims process are available in the Claims Process section of this website.

Status of file as of April 15, 2024

On April 12, 2024, the Superior Court of Québec issued an order postponing the stay of all proceedings against the Debtors to May 31, 2024. We refer you to the order dated April 12, 2024, for further information.

On the same date, the Court also issued a Claims Process Order for certain creditors. Please refer to the Claims Process Order dated April 12, 2024 for further details.

Status of file as of March 18, 2024

On March 8, 2024, following an application filed by the Debtors, the Superior Court of Quebec issued Vesting and Approval Orders approving the proposed sale transactions for the Swanson, Beaufort and McKenzie Break Properties. We refer you to the orders dated March 8, 2024 for further information.

Status of file as of March 1, 2024

On February 29, 2024, the Superior Court of Québec issued an order postponing the stay of all proceedings against the Debtors to April 12, 2024. We refer you to the order dated February 29, 2024, for further information.

Status of file as of January 19, 2024

On January 19, 2024, the Superior Court of Québec issued a second amended and restated initial order postponing the stay of all proceedings against the Debtors to February 29, 2024. We refer you to the order dated January 19, 2024, for further information.

Status of file as of December 7, 2023

On December 4, 2023, the Superior Court of Québec issued an amended and restated initial order postponing the stay of all proceedings against the Debtors to January 31, 2024 and authorizing an interim financing in the amount of $1.3M. We refer you to the order dated December 4, 2023, for further information.

Status of file as of November 22nd

On November 21, 2023, the Superior Court of Québec issued a rectified and restated initial order postponing the stay of all proceedings against the Debtors to December 4, 2023. We refer you to the order dated November 21, 2023, for further information.

Status of file as of November 15th

On November 15, 2023, the Superior Court of Québec issued an initial order (the “Initial Order”) under the Companies’ Creditors Arrangement Act (the “CCAA” and the “CCAA Proceedings”) in respect of Monarch Mining Corporation, Beacon Gold Mill Inc., Louvem Mines Inc. and 11306448 Canada Inc. (the “Debtors”).

The Initial Order provides for an initial stay of all proceedings until November 24, 2023 and appoints PricewaterhouseCoopers Inc. as monitor of the business and financial affairs of the Debtors (the “Monitor”).