On November 12, 2024, Windsor Metal Technologies Inc. (“WMT”) and JNM Tool & Manufacture Inc. (“JNM”, and together with WMT, the “Company”) each filed a Notice of Intention to Make a Proposal (“NOI”) under Section 50.4 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the “BIA”), and Bricks Damiani Inc. (“BDI”) was appointed as proposal trustee in the Company's NOI proceedings.

The NOI filing provides for a stay of proceedings against the Company, pursuant to s. 69(1) of the BIA, subject to certain limitations, while the Company formulates a restructuring plan and attempts to develop a viable proposal for its creditors.

On March 7, 2025, the Court issued an Order which, among other things, (i) approved the sale transaction for all of the Company’s assets and business (the “Sale Transaction”), (ii) approved the distribution of proceeds from the Sale Transaction to the Company’s senior secure lender, (iii) authorized WMT to change its corporate name to 1924960 Ontario Inc. and JNM to 997087 Ontario Inc., and (iv) extended the date by which the Debtors are required to file proposals to their creditors to April 18, 2025.

On April 4, 2025, the Sale Transaction closed and the proposal trustee filed a closing certificate with the Court.

On April 24, 2025, 1924960 Ontario Inc. and 997087 Ontario Inc. were deemed to have made an assignment in bankruptcy as a proposal was not filed by the Company by April 18, 2025.