February 10, 2023
Arehada Mining Limited, an Ontario-incorporated company which operated as a development-stage enterprise engaged in the exploration, development, extraction and refining of base metals in Inner Mongolia, China, entered liquidation on February 10. Following a series of transactions and investments, the company's shareholders resolved that, once the company received funds owing to it pursuant to the transactions, it would distribute the funds to minority shareholders, following which the company would proceed with dissolution. Although approved by the shareholders, the wind-up and dissolution proceedings cannot be completed by the company as it did not receive the final installments payable for the sale of an investment. In addition, the company has not been able to reach the company's former CEO or any other contacts in China with whom the company had historically communicated to receive an update on the balance of the funds owing. Albert Gelman is the Liquidator. WeirFoulds is counsel for the company.
By Dina Milivojevic
