Worldplay Communications Inc. and Worldplay (Canada) Inc., Calgary, Alberta-based companies which operated an online streaming platform for businesses and consumers, filed an NOI on July 30.

In 2021, the company partnered with TELUS to provide the Optik TV platform — allowing consumers to stream live events and businesses to host virtual conferences online.

Since 2022, the companies, with the assistance of EY, have been conducting a strategic review process with a view to finding an investor or purchaser to allow Worldplay to continue as a going concern. However, the pre-filing strategic process did not result in a transaction and Worldplay ceased operations in mid-July.

On July 30, Worldplay and a group of purchasers entered into a subscription agreement under which the purchasers agreed to act as stalking horse bidder in a SISP in the NOI proceedings.

EY is the proposal trustee.

Counsel is McCarthys for Worldplay and Torys for the proposal trustee.