On May 16, 2023, msi Spergel inc. was appointed as receiver (in such capacity, the "Receiver") of Vellend-Tech Inc. (the "Company") pursuant to an Order of The Honourable Justice Steele of the Ontario Superior Court of Justice (Commercial List) (the "Receivership Order").

The Company is in the business of providing bicycles and bicycle parts and accessories to the Canadian Independent Bicycle Retailer.

If you have questions or require further information, please contact Paula Amaral at 416-497-1706 or pamaral@spergel.ca or Nazhat Sarabi at 416-497-1660 or nsarabi@spergel.ca.

Trustee In Charge

Mukul Manchanda

Managing Partner, Corporate Restructuring & Insolvency

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