On February 7, 2018, the Court of Queen’s Bench of Alberta (the “Court”) granted an Order (the “Receivership Order”) pursuant to section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 (“BIA”) and sections 13(2) of the Judicature Act, R.S.A. 2000, cJ-2, and 65(7) of the Personal Property Security Act, R.S.A. 2000, c P-7, whereby Alvarez & Marsal Canada Inc. (“A&M”) was appointed receiver (the “Receiver”) of all of Advantage Products Inc.’s (“Advantage” or the “Debtor”) current and future assets, undertakings and properties of every nature and kind whatsoever, and wherever situate, including proceeds thereof (the “Property”).

Advantage was recognized as a top innovator in oilfield downhole tools designed to maximize performance of progressive cavity (PC) pumps and their operators.