FlexITy Solutions Inc. and FlexITy Holdings Inc., NOI

FlexITy Solutions Inc. and FlexITy Holdings Inc., Ontario-based technology companies, each filed an NOI on March 27, owing more than $37 million in secured debt to BHG-BC Holdings Ltd. ("BHG"). The primary purpose of the NOI proceedings is to create a stabilized environment to allow the companies to: (a) close a transaction with Supra Canada Technologies Limited ("Supra"), which was approved by the Court on April 4; (b) run a stalking horse sales process, with BHG acting as the stalking horse bidder; and (c) depending on the outcome of the stalking horse sales process, make a proposal to their creditors. B. Riley Farber is the Proposal Trustee, represented by Miller Thomson. Jaffe & Peritz is counsel for the companies, Dentons is counsel for BHG and Thompson, MacColl & Stacy is counsel for Supra.