Datatax Business Services Limited

On August 14, 2023, Datatax Business Services Limited ("Datatax") filed a Notice of Intention to Make a Proposal under subsection 50.4(1) of the Bankruptcy and Insolvency Act (the "BIA"). KPMG Inc. ("KPMG") consented to act as trustee under the proposal.

On August 17, 2023, the Ontario Superior Court of Justice (Commercial List) (the “Court”) granted an order approving, among other things, (i) a sale solicitation process in respect of business and assets of Datatax (the “SSP”), including a description of the bidding procedures (the “Bidding Procedures”) to be used in connection therewith and (ii) an asset Purchase Agreement dated August 11, 2023 between Datatax and 2872802 Ontario Inc. for the purpose of acting as the stalking horse sale agreement (the “Stalking Horse Bid”) for purposes of the SSP, subject to higher or otherwise better offers. In accordance with the Bidding Procedures, the deadline for Qualified Bids to be submitted has been set for September 29, 2023 , at 12:00 p.m EST (the "Bid Deadline"). Datatax was granted an extension of the time to file a proposal up to and including October 28, 2023.