MSC STAFF NOTICE 2022-1

Crocus Investment Fund
Distribution to Shareholders

January 17, 2022

Staff of The Manitoba Securities Commission is providing this notice for information purposes. The Commission is not otherwise involved in the receivership of Crocus Investment Fund.

On January 17, 2022, the Receiver of Crocus Investment Fund, Deloitte Restructuring Inc., made an application to the Court of Queen’s Bench for an order to pay a fourth and final distribution to shareholders, pass its accounts, and seek its discharge. Information regarding the final distribution and accounts is detailed in Receiver’s Report No. 19 and the Court’s order dated January 17, 2022, both of which are posted on the Receiver’s website www.deloitte.com/ca/crocusfund.

The Court has authorized the Receiver to determine if there are any shareholders wishing to raise an objection to the Receiver’s application and resultant Order. Only those shareholders wishing to express opposition or raise objection need respond. Any shareholder intending to raise an objection to the Receiver’s application and resultant Order must submit the objection in writing to the Receiver no later than 5:00 p.m. (CST) on Friday, February 25, 2022. Objections should be filed with the Receiver by registered mail, fax, or hand delivery, so that the objection is actually received by 5:00 p.m. (CST) on or before Friday, February 25, 2022 at the following address:

Deloitte Restructuring Inc.,

 as Receiver and Manager of Crocus Investment Fund

 2300 – 360 Main Street, Winnipeg, MB

 R3C 3Z3,

 Phone: (204) 942-0051

Facsimile: (204) 947-2689

Attention: Mr. John Fritz.

Chris Besko

Director and General Counsel

The Manitoba Securities Commission.