Addy Technology files NOI, advances stalking horse SISP

Addy Technology Corp., which operates a Vancouver-based financial technology platform designed to facilitate fractional investment in Canadian real estate, filed a Notice of Intention to Make a Proposal on April 16, 2026 under the Bankruptcy and Insolvency Act, seeking to implement a stalking horse sale process for its Addy platform.

The platform, which has facilitated the investment in over 60 issuances from approximately 10,628 investors, allows retail investors to participate in property-backed opportunities through a software-enabled marketplace rather than direct ownership or development activities. The platform historically used special purpose vehicles to aggregate investor capital and manage cap table complexity for issuers, scaling across more than two dozen properties before shifting toward direct securities offerings through the platform.

The company’s financial deterioration reflects a combination of regulatory, market, and operational pressures. As its platform matured, increasing securities law oversight and compliance requirements materially raised legal and operational costs, while declining investment activity and broader weakness in the real estate market reduced revenue generation. Despite raising $900,000 in preferred equity in May 2025, Addy exhausted liquidity by early 2026 and ceased operating in its prior form, ultimately requiring bridge financing and a formal restructuring process.

Pre-filing sale efforts throughout 2025 failed to yield a transaction, with discussions involving multiple strategic and financial counterparties not progressing beyond preliminary stages. Anthem Capital Corp., a Vancouver investment company affiliated with Anthem Properties, a local real estate development company, emerged as the only viable counterparty, providing interim funding through its affiliate, 1525293 B.C. Ltd., which advanced funds under a secured loan agreement dated January 16, 2026 to support payroll and ongoing operations. As of April 23, 2026, indebtedness under the facility totaled approximately $270,399.52, secured by a general security agreement over all assets.

The proposed restructuring is anchored by a stalking horse transaction with 1525293 B.C., with a 4-week marketing process contemplated. The transaction is structured as a reverse vesting order to preserve the company’s core assets, including its proprietary software and tax attributes, while transferring excluded liabilities and non-core assets, including intercompany claims and SPV exposures, into a residual entity that would subsequently be placed into bankruptcy. The RVO structure is intended to facilitate a going-concern outcome and maintain platform continuity, which the proposal trustee considers more value-maximizing than a liquidation scenario.

Crowe MacKay & Company is the proposal trustee. Counsel is Dentons for the company.