Sale Process - Christenson Group Properties

IN THE MATTER OF THE COMPANIES' CREDITORS ARRANGEMENT ACT, RSC 1985, c C-36, AS AMENDED

AND IN THE MATTER OF CHRISTENSON EQUITIES LTD., CHRISTENSON COMMUNITIES LTD., DEVONSHIRE VILLAGE LTD., DEVONSHIRE MEWS LTD., DEVONSHIRE MANOR LTD., ROYAL OAK DEV. LACOMBE LTD., CITADEL MEWS LTD., BEDFORD VILLAGE LTD., GLASTONBURY MEWS LTD., GLASTONBURY VILLAGE LTD., CHRISTENSON VILLAGE AT WESTMOUNT LTD., TIMBERSTONE COMMUNITIES LTD., PARK AVENUE AT CREEKSIDE LTD., WHITECOURT VILLAGE LTD., CHRISTENSON DEVELOPMENTS LTD., WESTMOUNT SECURITY CORP., TIMBERSTONE MEWS SECURITY CORP., SOUTHWOODS SECURITY CORP., ROYAL OAK MORTGAGE SECURITY SERVICES INC., GLASTONBURY SECURITY CORP., DEVONSHIRE SECURITY CORP., PARK AVENUE SECURITY CORP., BEDFORD SECURITY CORP., NETWORK CONSULTING CORPORATION, 585436 ALBERTA LTD. and 1831993 ALBERTA LTD

(the “Companies” or “Christenson Group”)

On October 17, 2025, the Companies were granted an Order (the “Initial Order”) by the Alberta Court of King’s Bench (the “Court”) and obtained creditor protection under the Companies’ Creditors Arrangement Act (the “CCAA”). Ernst & Young Inc. was appointed as monitor (the “Monitor”) of the Companies as part of the CCAA proceedings.

On November 17, 2025, the Court issued an Order approving a Sale Process (the “SISP Order”) within which the Applicants were authorized to engage N.R.E. Newmark Real Estate Canada Limited (the “Selling Agents”) to act as the exclusive Selling Agents to market certain properties of the Christenson Group in accordance with the SISP Order.

Pursuant to the SISP Order, the Selling Agents (with the assistance of the Monitor as required) are conducting a sale and investment solicitation process (the “SISP”) for certain Christenson Group properties (excluding the Whitecourt Village Community which will be dealt with separately pursuant to a separate sale process) located in Alberta (the “Christenson Portfolio”). Bidders are invited to submit proposals for either of the following:

1. A proposal to purchase one or more of the underlying assets within the Christenson Portfolio, and/or

2. An investment proposal in respect of one or more of the businesses of the Christenson Group, excluding the Whitecourt Village Community.

A Non-Confidential Teaser Letter (“Teaser”) has been prepared by the Selling Agents and is being delivered to those parties that have expressed interest in participating in the SISP. The Teaser, along with other information about the Christenson Group’s CCAA proceedings, is available at the Monitor’s website, located at: www.ey.com/ca/christenson.

The Phase I bid deadline for non-binding letters of intent is 5:00 PM (M.S.T time) on February 19, 2026. Potential bidders are requested to direct all inquiries to the Selling Agents or the Monitor’s representative, Evan MacKinnon.

Ernst & Young Inc.,
Licensed Insolvency Trustee 
acting solely in its capacity as Monitor of the Christenson Group and not in its personal or corporate capacity