Unifab Industries Ltd. and Sekwod Enterprises (2012) Ltd.

Filing Date: July 17, 2023

On July 17, 2023, MNP Ltd. (“MNP”) was appointed as receiver and manager (the “Receiver”) of Unifab Industries Ltd. (“Unifab”) and Sekwod Enterprises (2012) Ltd. (“Sekwod” and together with Unifab, the “Company”) pursuant to an order (the “Receivership Order”) granted by the Supreme Court of British
Columbia.

Sekwod was incorporated in 2012 and owns the six acres of land and the 45,000 sq foot facility Unifab operated from and that is located at 6050 2nd Street, Grand Forks, BC. Unifab was formed in 2015 through amalgamation with 1027127 BC Ltd.

Unifab provided engineering, fabrication, welding, machining, assembly, sandblasting and coating services, focused on customized industrial fabrication in the mining and forestry sectors. Unifab had also provided commercial steel fabrication services for large office buildings and big box warehouses.

The Receiver is soliciting offers to purchase the Company’s real property, inventory and equipment (the “Assets”).

Sales Process & Timing

The Receiver has prepared specific transaction procedures that are included in the Terms and Conditions of Sale included in the Invitation. However, the Receiver reserves the right to:

• Amend or terminate the sales procedure during the sales process;
• Accept an Offer that may not necessarily be the highest bid;
• Negotiate with one or more Purchasers at any time;
• Set a minimum offer price for the Assets;
• Enter into a definitive transaction agreement[s] without prior notice to other Purchasers at any time during the transaction process; and
• Not accept any Offers and market or sell the Assets through another process.

Any offer the Receiver accepts is subject to approval of the Supreme Court of British Columbia.