Galactic Propeller Holdings Ltd. and Jumbleberry Interactive Group Ltd., NOI

Galactic Propeller Holdings Ltd. and Jumbleberry Interactive Group Ltd., Ontario-based companies that act as advertisement brokers, selling advertisement space on social media, each filed an NOI on April 29.

The companies are insolvent and have been in default of their obligations to secured creditors 1000739703 Ontario Inc. (owed over USD $1 million) and BDC, owed approximately $2.9 million, since 2024.

Following discussions with the secured lenders, it was agreed that the companies would commence the NOI proceedings, with 1000739703 Ontario Inc. providing a DIP loan and acting as stalking horse bidder.

Baigel Corp. is the proposal trustee.

Counsel is WeirFoulds for the companies, Capstone Legal for the proposal trustee, RECON for 1000739703 Ontario Inc., Simpson Wigle for BDC, and Aird & Berlis for Liberty Market Building Inc.