returnable march 2, 2016
TRANSCRIPT
Court File No. CV-14-10686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE - COMMERCIAL LIST
IN THE MATTER OF THE RECEIVERSHIP OF SEAFIELD RESOURCES LTD.
MOTION RECORD (RETURNABLE MARCH 2, 2016)
February 17, 2016
MCMILLAN LLP Brookfield Place 181 Bay Street, Suite 4400 Toronto, ON, M5J 2T3 Wael Rostom LS#: 43165S Tel: 416-865-7790 Fax: 416-865-7048
Stephen Brown-Okruhlik LS#: 66567P Tel: 416-865-7043 Fax: 416-865-7048 Lawyers for the Receiver
TO: SERVICE LIST
SERVICE LIST
STIKEMAN ELLIOTT LLP 5300 Commerce Court West 199 Bay Street Toronto, ON M5L 1B9
Attn: Ashley Taylor
Counsel for RMB Australia Holdings Limited and RMB Resources Inc.
(416) 869-5236
(416) 869-5509
ELORA GOLD MINES, LIMITED 222 Bay Street, 18th Floor Toronto, Ontario M5K 1H1
[email protected] [email protected]
DICKINSON WRIGHT Counsel for Elora
DAVID PRINS Carrera 29 No. 8 Sur Apartamento 1402, Barrio Poblado, Medellín, Colombia.
Phone: 57 310 5420425
BRUCE A. SIMPSON Swanick & Associates Suite 101 225 Duncan Mill Road Don Mills, ON M3B 3K9
Counsel for David Prins
416-510-1888 ext 229 - office
647-799-0376 – direct
416-510-1945 – fax
JAMES PIRIE 4 Beaverbrook Ave Etobicoke, Ontario, M9B 2M7
MINERA SEAFIELD S.A.S. Calle 3 Sur No. 36-10, Medellín, Colombia.
MINISTRY OF FINANCE LEGAL SERVICES BRANCH Michael Starr Building 6th Floor, 33 King Street West Oshawa, ON L1H 8H5 Attention: Kevin O’Hara
Tel: (905) 433-6934 Email: [email protected]
DEPARTMENT OF JUSTICE The Exchange Tower 130 King Street West Suite 3400 Toronto, ON M5X 1K6 Attention: Diane Winters Lawyers for the Canada Revenue Agency
Tel: (416) 973-3172 E-mail: [email protected]
INDEX
Court File No. CV-14-10686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE - COMMERCIAL LIST
IN THE MATTER OF THE RECEIVERSHIP OF SEAFIELD RESOURCES LTD.
MOTION RECORD (RETURNABLE MARCH 2, 2016)
INDEX
TAB DOCUMENT PAGE
1 Fresh as Amended Notice of Motion, returnable February 17, 2016
1-11
2 The Second Report of the Receiver to the Court, dated February 17, 2016
12-190
3 The Affidavit of Philip Reynolds, dated January 25, 2016
191-251
4 The Affidavit of Wael Rostom, dated February 17, 2016
252-390
5 The Affidavit of David Beltran, dated January 21, 2016
391-502
TAB 1
Court File No. CV-14-10686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE - COMMERCIAL LIST
IN THE MATTER OF THE RECEIVERSHIP OF SEAFIELD RESOURCES LTD.
FRESH AS AMENDED NOTICE OF MOTION (RETURNABLE MARCH 2, 2016)
KPMG Inc., in its capacity as receiver (the "Receiver") of Seafield Resources
Ltd. ("Seafield"), will make a motion to the Comi, on Monday, March 211d, 2016 at
10:00 am or as soon after that time as the motion can be heard, at 330 University
Avenue, Toronto.
D D [KJ
PROPOSED METHOD OF HEARING: The motion is to be heard:
in writing under subrule 37.12.1(1) because it is on consent or unopposed or made without notice;
in writing as an opposed motion under subrule 37.12.1(4);
orally.
THE MOTION IS FOR:
(a) An Order substantially in the form attached hereto as Schedule "A" (the
"Approval and Vesting Order"), among other things:
(i) approving the sale of Seafield's principal asset to its sole secured
creditor;
(ii) vesting in the purchaser Seafield' s right, title and interest in
Seafield's principal asset free and clear of and from any and all
security interests; and,
(iii) sealing confidential appendices "G" and "H" to the Second Report
that contain sensitive commercial information;
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(b) An Order, substantially in the form attached hereto as Schedule "B" (the
"Discharge Order"), among other things:
(i) approving the activities of the Receiver as set out in the First
Report of the Receiver to the Court dated May 11, 2015 (the
"First Report") and the Second Report of the Receiver to the
Court dated February 16, 2016 (the "Second Report");
(ii) approving the fees and disbursements of the Receiver for the
period from September 9, 2014 tluough Febtuary 1, 2016 as set
out in the Affidavit of Phillip Reynolds sworn January 25, 2016
(the "Reynolds Affidavit");
(iii) approving the fees and disbursements of the Receiver's Canadian
legal counsel, McMillan LLP ("McMillan"), for the period fi·om
September 9, 2014 tl1rough February 1, 2016, as set out in
Affidavit of Wael Rostom, sworn February 16, 2016 (the
"Rostom Affidavit");
(iv) approving the fees and disbursements of the Receiver's
Colombian legal counsel, Philippi Prietocanizosa & Urfa
("PPU"), for the period from September 14, 2014 through
February 1, 2016, as set out in Affidavit of David Beltran, sworn
January 21, 2016 (the "Beltran Affidavit");
(v) approving the distribution of the proceeds of Seafield's estate to
its creditors;
(vi) discharging KPMG Inc. as Receiver of the undertakings, assets
and property of Seafied; and,
(vii) releasing the Receiver from any and all liability; and,
(c) such fiuther relief as counsel may advise and the Court may deem just.
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THE GROUNDS FOR THE MOTION ARE:
(d) On September 9, 2014, KPMG Inc. was appointed receiver pursuant to
s. 243 of the Bankruptcy and Insolvency Act ("BIA'') and s. 101 of the
Courts of Justice Act (Ontario) of all assets, undertakings and property of
Seafield (the "Receivership Order");
(e) The Receivership Order authorizes the Receiver to market and sell the
property of Seafield;
(f) Seafield is a Toronto based company incorporated pursuant to the Ontario
Business Corporations Act;
(g) Seafield's principal asset is 100% of the shares (the "Minera Shares") of
Minera Seafield S.A.S. ("Minera");
(h) Minera is a company constituted under the laws of Colombia, holding
various mining claims in Colombia;
The Failed Solicitation Process
(i) Under the Receivership Order, the Receiver was granted the power to
exercise any shareholder, partnership, joint venture or other rights that
Seafield has as sole shareholder of Minera;
G) On May 20, 2015, Justice Wilton-Siegel granted an order (the "SISP
Approval Order") approving Sales and Investor Solicitation Procedures
(the "SISP") in relation to Seafield and its assets;
(k) Pursuant to the SISP Order and in accordance with the terms of the SISP,
the Receiver conducted a two-phase solicitation process involving various
parties that are active in the mining sector;
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(I) In conducting the SISP, the Receiver identified and contacted 123 parties
active in the mining industry and provided them an investment teaser and
non-disclosure agreement;
(m) A number of parties were deemed Qualified Phase I Bidders (as defined
in the SISP);
(n) Qualified Phase I Bidders were provided with, among other things, a
confidential information memorandum regarding Min era's assets and
access to a data room;
( o) One Qualified Phase I Bidder qualified to progress to the second phase of
the SISP;
(p) A site visit and teclmical sesswn in Colombia were held with the
qualified Phase 2 bidder;
( q) Despite the efforts of the Receiver, the second phase of the SISP did not
result in any qualified purchase or investment bids;
(r) Section 5.5(2) of the SISP provides that the Receiver shall notify RMB
fmihwith and make an application to the Court for directions within ten
business days of determining that no Qualified Bids (as defined in the
SISP) were received pursuant to the SISP;
(s) On Monday, September 14, 2015, the Receiver determined that no
Qualified Bids were received pursuant to the SISP;
(t) On September 28, 2015 (ten "business days", as defined in the SISP, after
September 14, calculated in accordance with the time calculation
provisions of the Rules of Civil Procedure), the Receiver served and filed
a Notice of Motion for directions on a date to be set (the "September 28
Notice of Motion");
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The Receiver's Borrowings Charge
(u) The Receivership Order provides that the Receiver may bon·ow money
for the purpose of funding the exercise of its powers and duties, and
provides for a fixed and specific charge over the whole property of
Seafield as security for payment of the monies borrowed by the Receiver
(the "Receiver's Borrowings Charge");
(v) The Receivership Order provided that the principal amount of the
Receiver's Borrowings Charge was not to exceed $750,000;
(w) The SISP Approval Order provided that the Receiver's Borrowings
Charge be increased to USD $3,000,000;
(x) In the course of Seafield's receivership, the Receiver has borrowed
money from RMB Australia Holdings Limited ("RMB"), Seafield' s
principal creditor, which, together with interest thereon totalling
$2,376,697, is secured by the Receiver's Borrowings Charge (the
"Receivership Debt Amount");
Grounds for Approval of the Sale of the Min era Shares
(y) Following the failure to obtain a suitable offer pursuant to the SISP, the
Receiver entered into negotiations with RMB for a credit bid for the
Minera Shares;
(z) Since serving the September 28 Notice of Motion, the Receiver and RMB
have agreed on terms of a sale of the Minera Shares pursuant to a Share
Purchase Agreement (the "SPA");
(aa) The SPA was executed by the Receiver and RMB on February 16, 2016;
(bb) Pursuant to the SPA, RMB would acquire the Minera Shares in
consideration for providing a credit in the full amount of the Receivership
Debt Amount in full satisfaction of the Receiver's Borrowings Charge
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(which is secured debt) and a release of a portion of Seafield's debt to RMB;
( cc) The Receiver recommends the approval of the SPA as:
(i) The Receiver conducted a sales process that was commercially
reasonable, transparent, and carried out in accordance with the
SISP and SISP Approval Order;
(ii) The SISP was of sufficient duration to allow the market to be
appropriately canvassed and for prospective bidders to evaluate
Seafield and its assets;
(iii) During the conduct of the SISP, Seafield's assets were exposed to
as broad a spectrum of potential purchasers as could reasonably
have been achieved in the circumstances;
(iv) The Receiver made proper and sufficient efforts to obtain the best
offer possible through the SISP. The Receiver followed the SISP
and was fair to all parties that indicated interest in Seafield or its
assets;
(v) Despite its efforts, the Receiver was not able to identify a suitable
bidder pursuant to the SISP;
(vi) The SISP contemplated the possibility of a successful credit bid
by RMB. While the SISP failed to obtain a successful bid on its
terms, the Share Purchase Agreement represents a disposition of
the Minera Shares that advance the goals of the SISP, which are
the disposition of Seafield's assets for the best price achievable,
considering the interests of all parties, while maintaining the
efficacy and integrity of the sales process.
(vii) The SPA was negotiated by the Receiver in good faith and the
Receiver is of the belief that the purchase price for the Minera
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Shares set in the SPA represents the best price that conld be
obtained in light of the SISP; and,
(viii) The credit bid by RMB in the amount of $19,000,000 is achieved
by the release of $2,376,697 of debt that is secured by a super
priority court ordered charge, and the release of a further
$16,623,303 of debt;
( dd) Pursuant to the Receivership Order and the SISP Order, the Receiver
requires this honourable Court's approval to execute the SPA and
complete its obligations set out therein;
( ee) The sale of the Minera Shares pursuant to the SPA will not prejudice any
rights that any party may have against Minera under Colombian law;
Grounds for Approval of the First and Second Report and the Receiver's
Fees and Counsel's Fees
(ff) The Receiver, McMillan and PPU have incurred fees and expenses in
their capacity as Receiver and counsel, respectively, as outlined in the
Reynolds Affidavit, the Rostom Affidavit and the Beltran Affidavit;
(gg) Such fees and expenses were incurred at or below the Receiver's,
McMillan's and PPU's standard rates and charges and are fair and
reasonable in the circumstances;
(hh) The Receiver's actions and activities, as described in the First Report and
the Second Report, are lawful and proper, and consistent with its powers
and duties under the Receivership Order and in accordance with the
provisions of the BIA;
Grounds for the Sealing Order
(ii) The Receiver is of the view that the Confidential Appendices "G" and
"H" to the Second Report should remain sealed, as they contain
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commercially sensitive information about Minera, the public
dissemination of which would be prejudicial to the legitimate commercial
interests of stakeholders in Seafield;
Grounds for Discharge of the Receiver
(jj) The SISP did not result in any interest in any asset of Seafield other than
the Minera Shares;
(kk) Seafield's bankruptcy trustee will administer any remaining property of
Seafield;
(ll) Upon consummation of the sale contemplated in the SPA, the Receiver
will have completed the disposition of Seafield's assets;
(mm) Beyond carrying out the Receiver's obligations under the SPA and
activities ancillary thereto, there are no further steps necessary for the
completion of the Receiver's mandate;
Other Grounds for this Motion
(nn) The circumstances that exist make the Orders sought by the Receiver
appropriate;
(oo) The provisions of the BIA, as amended, and this Honourable Court's
equitable and statutory jurisdiction thereunder;
(pp) The grounds set out the First Report of the Receiver and in the Second
Report of the Receiver;
(qq) Section 243 of the BIA;
(rr) Section 101 of the Courts of Justice Act (Ontario); and,
( ss) Such other grounds as counsel may advise.
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THE FOLLOWING DOCUMENTARY EVIDENCE will be used at the hearing
of the motion:
(tt) The Order of Justice Newbould, dated September 9, 2014;
(uu) The Order of Justice Wilton-Siegel, dated May 20, 2015;
(vv) The endorsement of Justice Wilton-Siegel, dated May 20, 2015;
(ww) The First Report of the Receiver, dated May 11, 2015;
(xx) The Second Report of the Receiver, dated February 17, 2015;
(yy) The Affidavit of Phillip Reynolds, sworn January 25, 2016;
(zz) The Affidavit ofWael Rostom, sworn February 17, 2016;
(aaa) The Affidavit of David Beltran, sworn January 21, 2016;
(bbb) The materials filed by the Receiver on the motion returnable May 19,
2015;
(ccc) The materials filed by David Prins on the motion returnable May 19,
2015;
( ddd) The Motion Record of the Receiver for a motion for directions filed with
the Court on September 28, 2015; and,
( eee) Such further material as counsel may advise and this Court may permit.
February 17,2015 McMILLAN LLP Brookfield Place 181 Bay Street, Suite 4400 Toronto, ON, M5J 2T3
WaelRostorn LS#:43165S Tel: 416-865-7790 Fax:416-865-7048
9
TO: SERVICE LIST
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Stephen Brown-Okruhlik LS#: 66576P Tel: 416-865-7043 Fax: 416-865-7048
Lawyers for the Receiver
10
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TAB2
Court File No.CV -14-1 0686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE
(COMMERCIAL LIST)
IN THE MATTER OF SEAFIELD RESOURCES LTD. OF THE CITY OF TORONTO
IN THE PROVINCE OF ONTARIO
SECOND REPORT TO THE COURT SUBMITTED BY KPMG INC.,
RECEIVER
February 17, 2016
12
Table of Contents
I INTRODUCTION AND PURPOSE OF REPORT ......................................................................... 2
2 UPDATE REGARDING THE COMPANY'S AFFAIRS (INCLUDING MINERA) AND THESE PROCEEDINGS ..............................................................•............................................................... 5
3 RESULTS OF THE SALE AND INVESTOR SOLICITATION PORCESS AND CREDIT BID OFRMB .......................................................................................................................................... 9
4 FINAL STATEMENT OF RECEIPTS AND DISBURSEMENTS .............................................. 15
5 APPROVAL OF THE FEES AND EXPENDITURES OF THE RECEIVER AND ITS COUNSEL ..................................................................................................................................... l6
6 RECEIVER'S DISCHARGE ......................................................................................................... 18
7 RECOMMENDATIONS ............................................................................................................... l9
13
Listing of Appendices Appendix A
Appendix B
Appendix C
Appendix D-
Appendix E-
AppendixF-
Appendix G-
Appendix H-
Appendix!-
AppendixJ-
Order of Justice Newbould dated September 9, 2014 (the Receivership Order)
First Report of the Receiver to the Court, dated May 11, 2015 and the
Supplement to the First Report, dated May 18, 2015 (both without exhibits)
Order of Justice Wilton-Siegel dated May 20,2015 (the SISP Approval Order)
Assignment for the General ·Benefit of Creditors of Seafield Resources Ltd.
(Bankruptcy and Insolvency Act, Form 21)
Updated Chronology of Events in Colombia
Advertisements in The Canadian Mining Journal and Mining Journal
Summary of Non-Binding Indications oflnterest (confidential)
Bidder revised offer (confidential)
Share Purchase Agreement
Summary schedule of Receiver and Receiver's counsel professional fees
14
1 INTRODUCTION AND PURPOSE OF REPORT
1.1 Introduction
1.1.1 Seafield Resources Ltd. ("Seafield" or the "Company") is a company incorporated pursuant to
the Ontario Business Corporations Act with a registered office at 36 Toronto Street, Suite 1000,
Toronto, Ontario. Seafield is a development stage gold company with its principal asset being the
shares of its wholly-owned subsidiary, Minera Seafield S.A.S ("Minera"), a Colombian
company. Minera is 100% owner of 15 mining concessions covering an area of6,042.8 hectares
located in the Municipality of Quinchia, Department ofRisaralda, Republic of Colombia.
1.1.2 By order of the Honourable Justice Newbould of the Ontario Superior Court of Justice (the
"Court") made on September 9, 2014, KPMG Inc. ("KPMG") was appointed as the Receiver of
Seafield (the "Receivership Order"). A copy of the Receivership Order is attached as Appendix
"A".
1.1.3 Background information summarizing Seafield's receivership proceedings to May 18, 2015 is
included in the Receiver's First Report to the Court dated May II, 2015 and the Supplement to
the First Report dated May 18, 2015 (collectively, the "First Report") both of which are
attached, without appendices, as Appendix "B".
1.1.4 On May 20, 2015, the Court granted an Order (the "SISP Approval Order"):
a) Approving the sale and investor solicitation procedures (the "SISP"), and authorizing and
directing the Receiver to carry out the activities prescribed .in the SJSP;
b) Authorizing the Receiver to assign Seafield into bankruptcy if it reasonably determines
that such a step is necessary to preserve any rights to challenge the Labour Agreement
Amendments (as defined further herein) and any other reviewable transactions
undertaken by Seafield or any other person; and,
Page 12
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c) Increasing the aggregate amount that the Receiver is empowered to borrow from CAD
$750,000 to USD $3,000,000.
1.1.5 The SISP Approval Order is attached as Appendix "C".
1.1.6 Capitalized terms not expressly defined in this second report (the "Second Report") shall have
the same meaning as those terms specifically defined in the Receivership Order, the First Report
or the Supplement to the First Report.
1.1.7 All court-filed materials in connection with these receivership proceedings can be obtained from
the Receiver's website established at www.kpmg.ca/seafieldresources.
1.2 Terms of Reference
1.2.1 In preparing this Second Report, the Receiver has relied upon unaudited financial information,
company records, certain information prepared by or provided by the Company and Minera and
discussions with management of the Company and Minera. Unless otherwise expressly stated
herein, the Receiver has not performed an audit, review or other verification of such information.
1.3 Purpose of the Receiver's Second Report
1.3.1 The purpose of this Second Report is to provide this Honourable Court with information
regarding the following:
a) the Company's affairs (including those ofMinera), and these proceedings;
b) the activities of the Receiver since the date of the First Report, including the results of the
SISP;
c) the Receiver's request for approval of a credit bid by Seafield's secured lender to acquire
the shares of Min era;
d) the Receiver's final statement of receipts and disbursements and the Receiver's request
for approval of the final statement of receipts and disbursements;
e) the Receiver's request for approval of its fees and those of its counsel; Page 13
16
f) the Receiver's request for its proposed discharge from these proceedings and the release
of KPMG as Receiver of Seafield upon the Receiver filing with the Court the discharge
certificate confirming that the Receiver has attended to certain remaining matters; and,
g) the Receiver's recommendations.
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2 UPDATE REGARDING THE COMPANY'S AFFAIRS (INCLUDING MINERA) AND THESE PROCEEDINGS
2.1 The Company's Assets
2.1.1 As discussed prior and in the First Report, the Company's assets consist primarily of:
a) Its ownership of 100% of the shares ofMinera (the "Minera Shares");
b) Its 100% registered and beneficial interest in the Elora Property in Ontario, Canada (the
details of which were set out in the First Report); and,
c) A small amount of cash in its bank accounts, which the Receiver transferred into the
receivership estate bank account on the date of the Receivership Order.
2.2 Obligations Owing to RMB
2.2.1 As set out in more detail in the First Report, the Company's senior secured lender, and by far
most significant creditor, is RMB Australia Holdings Ltd. ("RMB" or the "Secured Lender"),
which is owed approximately CAD $19.2 million from Seafield in principal and interest. These
amounts were borrowed by Seafield pursuant to a facility agreement between RMB and Seafield
dated February 21, 2013 (the "Facility Agreement"). Seafield, as borrower under the Facility
Agreement, and Minera, as guarantor of Seafield's obligations under the Facility Agreement,
each granted RMB security over all their respective assets, undertakings and property, including
but not limited to (in the case of Seafield) the Minera Shares. The total debt owed by Seafield to
RMB provided for in its loan instrument, including fees in this receivership, total $22,010,268.64
as of February I, 2016.
2.3 Review of RMB's Security
2.3.1 As also discussed in the First Report, KPMG retained McMillan LLP ("McMillan") as
independent Canadian counsel. McMillan provided the Receiver with an opinion that, subject to
the usual assumptions and qualifications, RMB has valid and enforceable security over Seafield's
personal property (other than the Minera Shares) in accordance with the terms ofRMB's security
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documents. McMillan informed the Receiver that due to the operation of the conflict of law
provisions of the Personal Property Security Act (Ontario), the validity of the RMB's contractual
security over the Minera Shares would have to be determined by Philippi, Prietocarrizosa & Uria
("PPU"), the Receiver's independent Colombian counsel, in accordance with the laws of
Colombia. This process was commenced by PPU, but no formal legal opinion was ultimately
issued to the Receiver for the reasons discussed below.
2.3.2 The Receiver and the Trustee (as defined further herein) are of the view that further work by PPU
regarding the validity of RMB's security over the Minera Shares is unnecessary in order to
finalize RMB's credit bid (as detailed in Section 3 of this report). This is because, as stated
further herein, RMB is the sole beneficiary of the Receiver's Borrowings Charge, as defined in
the Receivership Order, in the amount of $2,376;697, which is a valid and enforceable charge
over the Minera Shares in the bankruptcy of Seafield. No binding bids were received in the SISP
for amounts that exceeded the amount of the Receiver's Borrowings Charge, and RMB has
elected to simply utilize the Court-ordered charge as part of its consideration to acquire the
Minera Shares to avoid further delay and expense.
2.4 Bankruptcy of Seafield
2.4.1 Pursuant to the SISP Approval Order, the Receiver was authorized to assign Seafield into
bankruptcy to preserve any rights to challenge certain amendments to the labour agreements of
Messrs. Prins and Ortiz (both as identified in the First Report) with Minera (the "Labour
Agreement Amendments") and any other reviewable transactions undertaken by Seafield or any
other person. The Receiver learned that the Labour Agreement Amendments were adopted by
Minera following a resolution of the former board of directors of Seafield made shmtly prior to
the Receivership Order, at a time that Seafield was encountering significant cash flow problems
and was in default under the RMB Facility Agreement. As also discussed in the First Report, it is
the Receiver's understanding that the Labour Agreement Amendments may have the effect of
giving Messrs. Prins and Ortiz a priority over the creditors of Minera in an insolvency proceeding
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under Colombian law and therefore may have a detrimental effect on the recoveries of the
creditors of Seafield. It should be noted that Mr. Ortiz waived any rights and benefits that were
conferred on him under the Labour Agreement Amendments.
2.4.2 On August 24, 2015, the Receiver executed an assignment in bankruptcy of the Company (the
"Assignment") in its capacity as Receiver, and KPMG Inc. was appointed trustee (the
"Trustee"). A copy of the Assignment is attached hereto as Appendix "D". Although not a
creditor on the books and records of the Company as at the date of bankruptcy, Mr. Prins was
provided full information with respect to Seafield's bankruptcy proceedings.
2.4.3 On September 14, 2015 the Trustee chaired the first meeting of creditors (the "First Meeting")
with RMB representing the only creditor filing a proof of claim and attending the meeting.
2.4.4 Subject to obtaining funding from any creditors, the Trustee is prepared to review the details of
the Labour Agreement Amendments with the estate inspector to consider if the Labour
Agreement Amendments did in fact diminish the value that would have otherwise been received
by Seafield for the Minera Shares and if so, what next steps, if any, should to be taken in this
regard. As of the date of this Second Report, no funding has been provided to the Trustee for this
purpose.
2.4.5 Based on the results of the SISP (as further described herein), there are no realizations expected
in the bankruptcy estate and therefore there will be no funds available for distribution to creditors.
2.5 Proceedings in Columbia
2.5.1 On or about July 8, 2015, Mr. Prins filed a labour law suit against Minera in the Colombian court
(the "Labour Suit").
2.5.2 As part of the Labour Suit, Mr. Prins requested that the Columbian court issue interim
precautionary measures in order to guarantee the fulfillment of labour obligations by Minera (the
"Precautionary Measures"), including under the Labour Agreement Amendments. The
Receiver understands from the Receiver's Colombian counsel that Precautionary Measures, if
Page 17
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ordered, would be directed at the mining titles of Minera so that their sale, transfer or assignment
would be suspended by the Colombian National Mining Agency ("ANM") pending resolution of
the Labour Suit. Importantly, the Receiver has been advised by its Colombian counsel that if the
Colombian court were to grant the Precautionary Measures, such measures would not enjoin or
otherwise restrict the sale or transfer of the Minera Shares. This is of course because Minera
would remain subject to any valid claims against it, notwithstanding the transfer of the ownership
of its shares.
2.5.3 On July 31, 2015 the Colombian court heard the application for issuance of the Precautionary
Measures and the application was dismissed on August 5, 2015. Mr. Prins has appealed the
dismissal of the Precautionary Measures; however, no date for the hearing of the appeal has been
set.
2.5.4 Minera has filed a defence to the Labour Suit. The Colombian court has accepted Minera's
defence to the Labour Suit and has scheduled the first substantive hearing in the matter for June
26, 2016. As stated above, the transfer of the Min era Shares would in no way affect the
continuance of the Labour Suit against Minera.
2.5.5 Attached as Appendix "E" to this Report is an update to the Chronology of Events in Colombia
appended to the Receiver's First Report, provided by the Receiver's Colombian counsel.
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3 RESULTS OF THE SALE AND INVESTOR SOLICITATION PROCESS AND RMB'S CREDIT BID
3.1 Overview
3.1.1 As outlined in the First Report the Receiver, in consultation with RMB developed the SISP,
which was approved by the Court on May 20, 2015.
3.1.2 Based on its review of the books and records, the Receiver is aware of no other secured claims
against Seafield than that of RMB. No other party has asserted or made the Receiver aware that
they assert a secured claim against Seafield during the course of the Receivership or Bankruptcy
proceedings.
3.2 Marketing Efforts
3.2.1 Following the granting of the SISP Approval Order, the Receiver undertook the following steps
in accordance with the requirements of the SISP:
a) In conjunction with RMB, the Receiver identified and contacted 123 potential purchasers,
primarily mining companies and investors with a focus on South America as well as other
specifically identified targets;
b) With the assistance of SRK Consulting Inc. ("SRK"), a mining engineering consulting
firm, and in consultation with RMB, the Receiver developed a sale or investment
opportunity teaser (the "Teaser") and a confidential information memorandum (the
"CIM");
c) The Receiver placed advertisements in The Canadian Mining Journal and Mining Journal
describing the SISP and providing the Receiver's contact information for interested
parties. Copies of these advertisements are attached as Appendix "F";
d) All· potential interested parties, were provided a copy of the Teaser and a non-disclosure
agreement ("NDA");
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22
e) During June and July of2015, the Receiver contacted each of the potential purchasers;
f) Seven potential purchasers executed an NDA and were determined to be "Qualified Phase
I Bidders" in accordance with Sections 2.5(1) (a) to (e) and Section 2.5 (2) of the SISP
and were accordingly provided with the CIM and access to a virtual data room established
by the Receiver;
g) The virtual data room was comprised of approximately 10,000 pages of relevant Company
information generally organized as follows:
i. Corporate files including articles of incorporation, by-laws, annual filing
information, tax returns, and royalty agreements;
ii. Miraflores technical reports, financial models, drill hole information, legal
and geological documents and annual filing information;
iii. Technical reports relating to the Elora Property; and,
iv. Documents relevant to the sales process, including the CIM, the Teaser
and a sales process letter.
h) During the course of Phase 1 of the SISP, KPMG provided any additional information
requested by the Qualified Phase I Bidders, as well as fielded queries regarding the
specific mechanics of the restructuring process and the SISP.
3.3 SISP Phase 1 and Phase 2 Results
3.3.1 At the Phase 1 Bid Deadline of July 15, 2015 the Receiver received three non-binding indications
of interest ("LOis") for the Minera Shares that were all deemed Qualified Non-Binding
Indications of interest based on the criteria outlined in Section 4.2 of the SISP.
3.3.2 All three bids received by the Receiver contemplated only the acquisition of the Minera Shares
or the assets of Minera. No bids were received pursuant to the SISP of Seafield's other property
or interests in Canada (i.e. the Elora Property).
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23
3.3.3 The Receiver provided copies of all Qualified Non-Binding Indications oflnterest to RMB.
3.3.4 Given the values of each, which ranged from approximately CAD $1 million to CAD $5 million,
the Receiver, in consultation with RMB, communicated to each bidder who submitted non-
binding offers with a price of less than CAD $5 million that, in order to be permitted to continue
onto Phase 2 of the SISP, they would need to increase their non-binding bids to at least CAD $5
million. RMB had advised the Receiver that it would not find it economically feasible to
continue to fund Phase 2 of the SISP if bids did not meet at least this threshold.
3.3.5 One party withdrew from the process due to loss of financing. Of the remaining two bidders, one
increased its bid and was accordingly deemed to. be a Qualified Phase 2 Bidder, while ·the
remaining bidder declined to increase its offer price and withdrew from the process. A summary
of all non-binding offers is set out in a confidential exhibit provided to the Court as Appendix
"G".
3.3.6 Phase 2 of the SISP commenced on July 27, 2015, approximately five days later than originally
planned due to the time required for additional communication with bidders to clarifY the terms of
the submitted LOis.
3.3.7 On July 31,2015 RMB submitted a Bid Notice (as defined in the SISP) declaring its intention to
submit a Qualified Purchase Bid in the amount of CAD $6 million. A copy of the bid notice was
sent to all Qualified Phase 2 Bidders in accordance with the SISP.
3.3.8 Due to many factors and at the request of the remaining interested bidder in the process, the
Receiver formally extended the Phase 2 Bid Deadline from August 19, 2015 to September 4,
2015.
3.3.9 From August 19,2015 to August 21,2015 the remaining interested party attended a site visit and.
technical sessions in Colombia, which included representatives from Minera, KPMG and SRK.
3.3.10 Following attendance at the site, the remaining prospective purchaser submitted a revised LOI
rather than a binding offer as required by the SISP. In addition, this prospective purchaser
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24
materially reduced its offer price from the price set out in its Phase I LOI. As a result, ultimately
no Qualified Purchase Bids were received by the Receiver pursuant to the SISP. A copy of the
bidder's revised offer has been provided to the Court in a confidential exhibit as Appendix "H".
3.3.11 Based on the value of the revised LOI and the fact that it did not meet the criteria of a Qualified
Purchase Bid (as defined in the SISP), the Receiver terminated the SISP. The Receiver notified
the prospective purchaser that no Qualified Bids had been received and that the Receiver would
be filing a motion advising the Court of the failed process and that the Receiver was in
discussions with the Secured Lender to formalize a credit bid.
3.3.12 Since the termination of the SISP, the Receiver has been in discussion with RMB concerning
RMB submitting a credit bid and the terms thereof. Since the termination of the SISP, the
Receiver has not received any further inquiries or expressions of interest from any party in
relation to the Minera Shares.
3.4 Secured Lender Credit Bid
3.4.1 The Secured Lender ultimately decided to make a credit bid to acquire the Minera Shares.
3.4.2 The Secured Lender has elected to make its credit bid, based on the amount of debt secured by
the Receiver's Borrowings Charge, in the amount of CAD $2,376,697 plus the release of a
material portion of the remaining RMB indebtedness for a total purchase price of $19 million.
3.4.3 The Receiver, the Secured Lender and their respective counsel negotiated a share purchase
agreement in respect of the Minera Shares (the "Share Purchase Agreement").
3.4.4 The Share Purchase Agreement was executed by the patties on February 16, 2016. A copy of the
Share Purchase Agreement is attached hereto as Appendix "I".
3.4.5 The Share Purchase Agreement includes the following terms:
i. The Secured Creditor will acquire 100% of the Minera Shares from the Receiver;
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25
ii. The purchase price of the shares will be CAD $19.0 million, representing the Secured
Lender's secured debt under the Receiver's Borrowings Charge in the amount of CAD
$2,376,697, as well as the release of CAD $16,623,303 of the additional debt owed by
Seafield to the Secured Creditor;
iii. The Secured Creditor will purchase the Minera Shares on an "as is, where is" basis in
exchange for a release of the obligations secured by the Receiver's Borrowings Charge
and the agreed portion of the debt owed by Seafield to RMB, and at or before closing
will satisfY all amounts owing (i.e the Receiver's professional fees) secured by the
Receiver's Charge, which is provided for in the Receivership Order and ranks in
priority to the Receiver's Borrowings Charge;
iv. The transaction contemplated in the Share Purchase Agreement is conditional upon the
Court issuing an approval and vesting order in relation to the sale of the Minera Shares,
the receipt by RMB of certain approvals for the consummation of the transaction by the
South African Reserve Bank, and compliance with the laws of Colombia as required to
transfer the Minera Shares to RMB; and,
v. The transaction contemplated in the Share Purchase Agreement would require the
Receiver to provide authority and instructions to Minera to prepare a final tax return to
the competent tax authority in Colombia and a foreign investment substitution request
with the Colombian Central Bank in relation to the transfer of ownership of Minera as
required by Colombian law, each to be filed following closing of the transaction.
3.4.6 The Receiver believes that the Share Purchase Agreement represents the best possible disposition
of the Min era Shares for the following reasons:
i. The Secured Lender is the beneficiary of the Receiver's Borrowings Charge, which is
valid and enforceable against the Trustee and is therefore able to utilize this court
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26
ordered security to acquire the Minera Shares in priority to any other claim (other than
the Receiver's Charge which will be satisfied prior to closing);
ii. The Receiver is not aware of any claim other than the claim of RMB that has been filed
in the bankruptcy of Seafield or in these proceedings;
iii. The Share Purchase Agreement represents a credit bid of CAD $2,376,697 of secured
debt owed by Seafield to the Secured Lender pursuant to the Receiver's Borrowings
Charge plus a portion ofRMB's remaining debt equalling CAD $16,623,303;
iv. The amount secured by the Receiver's Borrowings Charge greatly exceeds thehighest
bid generated by the SJSP (and no binding bids were received);
v. Based on the results of the SJSP, including the site visit with the sole remaining
prospective purchaser and feedback received by the Receiver from prospective
purchasers regarding the value of their. bids, the Receiver does not believe that a
superior offer is likely to result from an extension of the solicitation process and, in any
event, RMB is not willing to provide any further funding to the Receiver to continue
any further marketing of the assets;
vi. Following the termination of the SJSP and the Receiver providing notice to prospective
purchasers that no Qualified Bids had been received, the Receiver did not receive any
further inquiries or expressions of interest from any SISP participants or other industry
actors;
vii. The SJSP, which was approved by the Court, explicitly contemplates a credit bid by the
Secured Lender in the event that the SJSP failed to identify a successful bid; and,
viii. No other parties will be prejudiced by the consummation of the Share Purchase
Agreement.
Page[14
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4 FINAL STATEMENT OF RECEIPTS AND DISBURSEMENTS
4.1.1 The following table represents a summary of the Receiver's receipts and disbursements for the
period September 9, 2014 to February I, 2016. The table does not include the amounts advanced
by RMB to Minera directly under a separate direct loan agreement with Minera (USD $1.4
million as of December 31, 20 15).
~ ~ - - -- -- ~ - - --- - - - - - - - ~ ---- - -- 71 ' In !be matt~r ofthe) Receivership ofSeafield Resources Ltd.
J Final Statement of Receipts & Disbursements I
' FQl' the pe1•iod September 9, 2014 to Februa1-y 1, 2016 I
~ in CAD I Cash Receipts
Funding provided by RMB 2,376,697 Cash realizations from Seafield bank accounts 47,626 Sale of share in Manitou 12,500 HSTrefunds 8,351
Total Cash Receipts 2,445,175 Cash Disbursements
Professional fees (inc! taxes) 1,828,028 Payments to Minera to fund operations 537,230 Interest of Receiver's borrowings 60,457 Drilling sample storage 6,000 Sale Process advertising 3,525 Miscelleneous expenses 8,531
Total Cash Disbursements 2,443,770 Excess Receipts Over Disbursements 1,405
4.1.2 The cash disbursements of approximately $2.4 million are primarily comprised of:
i. Approximately CAD $1.8 million professional fees (inclusive of taxes) as further described
in Section 5; and,
ii. CAD $537,230 which represents the funding the Receiver provided· directly to Minera
between September and December 2014 before the Secured Lender commenced funding
the monthly operating costs directly.
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5 APPROVAL OF THE FEES AND EXPENDITURES OF THE RECEIVER AND ITS COUNSEL
5.1.1 The following table shows the calculation of the fees of the Receiver and its counsel incurred and
paid to discharge including the estimated fees that are forecasted to be incurred by the Receiver
and its counsel with respect to completing the proceedings:
~n iitilMatier-ofthe Receivel1llliPorseafierd-Resources Ltd.- -- --~ 'Summary of Pmfessional Fees 1 :Period September 2014 • Febmary 2016 , -CD sm Receiver's fees Receiver's Counsel fees
McMillan PPU
Total
864,612
438,280 309,612
1,612,504
Note 1 -The amount only includes fees and disbursements. Sales tax is not included
5.1.2 The Receiver, McMillan and PPU have maintained detailed records of their professional time
and disbursements since the Receivership Order. A summary of Receiver and Receiver's counsel
professional fees is attached to this report as Appendix "J".
5.1.3 Pursuant to paragraphs 18 to 20 of the Receivership Order, the fees and disbursements of the
Receiver and the fees and disbursements of its legal counsel are authorized to be paid on a
periodic basis subject to any final approval as ordered by the Court.
5.1.4 The time spent by the Receiver's personnel during the Receivership is more particularly
described in the Affidavit of Philip Reynolds of KPMG (the "Reynolds Affidavit") sworn
January 25, 2016. The Reynolds Affidavit includes a summary of the personnel, hours, and
hourly rates charged by the Receiver in respect of the Receivership.
5.1.5 The time spent by McMillan during the Receivership is more particularly described in the
Affidavit ofWael Rostom of McMillan (the "Rostom Affidavit") sworn February 16,2016. The
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29
time spent by PPU during the Receivership is more particularly described in the Affidavit of
David Beltran ofPPU (the "Beltran Affidavit") sworn January 21,2016.
5.1.6 RMB has been provided a full accounting of all professional fees in this matter and has provided
their approval of them.
5.1.7 The Receiver respectfully submits that the Receiver's fees and disbursements and the fees and
disbursements of McMillan and PPU are reasonable in the circumstances and have been validly
incurred in accordance with the provisions of the Receivership Order. Accordingly, the Receiver
now seeks the approval of the Court of the Receiver's fees and disbursements as well as the fees
and disbursements of McMillan and PPU during the Receivership.
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6 RECEIVER'S DISCHARGE
6.1.1 In the event that this Honourable Court approves the Approval and Vesting Order, the Receiver's
administration of the estate, upon closing of the Shares Purchase Agreement, will be essentially
complete. The Receiver may have some miscellaneous administrative items to attend to post-
discharge, but these items are immaterial and, in the Receiver's opinion, should not prevent this
Honourable Court from granting an unconditional discharge effective upon the Receiver closing
the Share Purchase Agreement.
6.1.2 The Receiver respectfully requests that this Honourable Court approve an Order unconditionally
discharging and releasing the Receiver from any and all obligations as Receiver of Seafield
effective upon closing of the Share Purchase Agreement.
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7 RECOMMENDATIONS
7.1.1 The Receiver recommends that this Honourable Court approve:
i. the Approval and Vesting Order;
ii. the activities ofthe Receiver, including the implementation of the SISP;
iii. the accounts of the fees and disbursements of the Receiver and the Receiver's counsel; and,
iv. the discharge ofKPMG Inc. as Receiver ofRMB. ·
All of which is respectfully submitted this 17'" day of February, 2016.
KPMG INC. in its sole capacity as
COURT-APPOINTED RECEIVER OF SEAFIELD RESOURCES LTD.
and not in its personal capacity
Per: Philip Reynolds Senior Vice President
Per: Ryan Adlington Senior Vice President
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32
Appendix A
Order of Justice Newbould dated September 9, 2014 (the Receivership Order)
33
ONTARIO SUPERIOR COURT OF JUSTICE
(COMMERCIAL LIST)
Court File No.: C:::.V-ILt-lOG,-t;t;, -c:lOC.L
THE HONOURABLE M~. ) ) )
TUESDAY, THE NINTH
JUSTICE N E""W"B ou L ::D DAY OF SEPTEMBER, 2014
BETWEEN:
RMB AUSTRALIA HOLDINGS LIMITED
-and-
SEAFIELD RESOURCES LTD.
ORDER (Appointment Order)
Applicant
Respondent
THIS APPLICATION made by the Applicant RMB Australia Holdings Limited
("RMB") for an Order pursuant to section 243(1) of the Bankruptcy and Insolvency Act,
R.S.C. 1985, c. B-3, as amended (the "BIA'') and section 101 of the Courts of Justice Act,
R.S.O. 1990, c. C.43, as amended (the "CJA") appointing KPMG Inc. ("KPMG") as
receiver and manager (in such capacities, the "Receiver") without security, of all of the
assets, undertakings and properties of Seafield Resources Ltd. (the "Debtor") acquired
for, or used in relation to a business carried on by the Debtor, was heard this day at 330
University Avenue, Toronto, Ontario.
34
-2-
ON READING the affidavit of Alvaro Belevan sworn September 8, 2014 and the
Exhibits thereto and on hearing the submissions of counsel for RMB and the Debtor, no
one else appearing although duly served as appears from the affidavit of service, filed,
and on reading the consent of KPMG to act as the Receiver,
SERVICE
1. THIS COURT ORDERS that the time for service of the Notice of Application
and the Application is hereby abridged and validated so that this Application is
properly returnable today and hereby dispenses with further service thereof.
APPOINTMENT
2. THIS COURT ORDERS that pursuant to section 243(1) of the BIA and section
101 of the CJA, KPMG is hereby appointed Receiver, without security, of all of the
assets, undertakings and properties of the Debtor acquired for, or used in relation to a
business carried on by the Debtor, including all proceeds thereof (the "Property").
RECEIVER'S POWERS
3. THIS COURT ORDERS that the Receiver is hereby empowered and authorized,
but not obligated, to act at once in respect of the Property and, without in any way
limiting the generality of the foregoing, the Receiver is hereby expressly empowered
and authorized to do any of the following where the Receiver considers it necessary or
desirable:
(a) to take possession of and exercise control over the Property and any and
all proceeds, receipts and disbursements arising out of or from the
Property;
(b) to receive, preserve, and protect the Property, or any part or parts thereof,
including, but not limited to, the changing of locks and security codes, the
relocating of Property to safeguard it, the engaging of independent
35
-3-
security personnel, the taking of physical inventories and the placement of
such insurance coverage as may be necessary or desirable;
(c) to manage, operate, and carry on the business of the Debtor, including the
powers to enter into any agreements, incur any obligations in the ordinary
course of business, cease to carry on all or any part of the business, or
cease to perform any contracts of the Debtor;
(d) to engage consultants, appraisers, agents, experts, auditors, accountants,
managers, counsel and such other persons from time to time and on
whatever basis, including on a temporary basis, to assist with the exercise
of the Receiver's powers and duties, including without limitation those
conferred by this Order;
(e) to purchase or lease such machinery, equipment, inventories, supplies,
premises or other assets to continue the business of the Debtor or any part
or parts thereof;
(f) to receive and collect all monies and accounts now owed or hereafter
owing to the Debtor and to exercise all remedies of the Debtor in
collecting such monies, including, without limitation, to. enforce any
security held by the Debtor;
(g) to settle, extend or compromise any indebtedness owing to the Debtor;
(h) to execute, assign, issue and endorse documents of whatever nature in
respect of any of the Property, whether in the Receiver's name or in the
name and on behalf of the Debtor, for any purpose pursuant to this Order;
(i) to undertake environmental or workers' health and safety assessments of
the Property and operations of the Debtor;
36
-4-
0) to initiate, prosecute and continue the prosecution of any and all
proceedings and to defend all proceedings now pending or hereafter
instituted with respect to the Debtor, the Property or the Receiver, and to
settle or compromise any such proceedings. The authority hereby
conveyed shall extend to such appeals or applications for judicial review
in respect of any order or judgment pronounced in any such proceeding;
(k) to market any or all of the Property, including advertising and soliciting
offers in respect of the Property or any part or parts thereof and
negotiating such terms and conditions of sale as the Receiver in its
discretion may deem appropriate;
(1) to sell, convey, transfer, lease or assign the Property or any part or parts
thereof out of the ordinary course of business,
(i) without the approval of this Court in respect of any transaction not
exceeding $100,000, provided that the aggregate consideration for
all such transactions does not exceed $1,000,000; and
(ii) with the approval of this Court in respect of any transaction in
which the purchase price or the aggregate purchase price exceeds
the applicable amount set out in the preceding clause;
and in each such case notice under subsection 63(4) of the Ontario Personal
Property Security Act or section 31 of the Ontario Mortgages Act, as the case
may be, shall not be required, and in each case the Ontario Bulk Sales Act
shall not apply.
(m) to apply for any vesting order or other orders necessary to convey the
Property or any part or parts thereof to a purchaser or purchasers thereof,
free and clear of any liens or encumbrances affecting such Property;
37
-5-
(n) to report to, meet with and discuss with such affected Persons (as defined
below) as the Receiver deems appropriate on all matters relating to the
Property and the receivership, and to share information, subject to such
terms as to confidentiality as the Receiver deems advisable;
(o) to register a copy of this Order and any other Orders in respect of the
Property against title to any of the Property;
(p) to apply for any permits, licences, approvals or permissions as may be
required by any governmental authority and any renewals thereof for and
on behalf of and, if thought desirable by the Receiver, in the name of the
Debtor;
(q) to enter into agreements with any trustee in bankruptcy appointed in
respect of the Debtor, including, without limiting the generality of the
foregoing, the ability to enter into occupation agreements for any property
owned or leased by the Debtor;
(r) to exercise any shareholder, partnership, joint venture or other rights
which the Debtor may have, including without limitation, the Debtor's
rights as sole shareholder of Minera Seafield S.A.S. ("Minera") to, among
other things, appoint one or more directors of Minera and to replace any
of the directors of Minera;
(s) to advance monies to Minera; and
(t) to take any steps reasonably incidental to the exercise of these powers or
the performance of any statutory obligations.
and in each case where the Receiver takes any such actions or steps, it shall be
exclusively authorized and empowered to do so, to the exclusion of all other Persons (as
defined below), including the Debtor, and without interference from any other Person.
38
-6-
DUTY TO PROVIDE ACCESS AND CO-OPERATION TO THE RECEIVER
4. THIS COURT ORDERS that (i) the Debtor, (ii) all of its current and former
directors, officers, employees, agents, accountants, legal counsel and shareholders, and
all other persons acting on its instructions or behalf, and (iii) all other individuals, firms,
corporations, governmental bodies or agencies, or other entities having notice of this
Order (all of the foregoing, collectively, being "Persons" and each being a "Person")
shall forthwith advise the Receiver of the existence of any Property in such Person's
possession or control, shall grant immediate and continued access to the Property to the
Receiver, and shall deliver all such Property to the Receiver upon the Receiver's request.
5. THIS COURT ORDERS that all Persons shall forthwith advise the Receiver of
the existence of any books, documents, securities, contracts, orders, corporate and
accounting records, and any other papers, records and information of any kind related
to the business or affairs of the Debtor, and any computer programs, computer tapes,
computer disks, or other data storage media containing any such information (the
foregoing, collectively, the "Records") in that Person's possession or control, and shall
provide to the Receiver or permit the Receiver to make, retain and take away copies
thereof and grant to the Receiver unfettered access to and use of accounting, computer,
software and physical facilities relating thereto, provided however that nothing in this
paragraph 5 or in paragraph 6 of this Order shall require the delivery of Records, or the
granting of access to Records, which may not be disclosed or provided to the Receiver
due to the privilege attaching to solicitor-client communication or due to statutory
provisions prohibiting such disclosure.
6. THIS COURT ORDERS that if any Records are stored or otherwise contained
on a computer or other electronic system of information storage, whether by
independent service provider or otherwise, all Persons in possession or control of such
Records shall forthwith give unfettered access to the Receiver for the purpose of
allowing the Receiver to recover and fully copy all of the information contained therein
39
-7-
whether by way of printing the information onto paper or making copies of computer
disks or such other manner of retrieving and copying the information as the Receiver in
its discretion deems expedient, and shall not alter, erase or destroy any Records without
the prior written consent of the Receiver. Further, for the purposes of this paragraph, all
Persons shall provide the Receiver with all such assistance in gaining immediate access
to the information in the Records as the Receiver may in its discretion require including
providing the Receiver with instructions on the use of any computer or other system
and providing the Receiver with any and all access codes, account names and account
numbers that may be required to gain access to the information.
7. THIS COURT ORDERS that the Receiver shall provide each of the relevant
landlords with notice of the Receiver's intention to remove any fixtures from any leased
premises at least seven (7) days prior to the date of the intended removal. The relevant
landlord shall be entitled to have a representative present in the leased premises to
observe such removal and, if the landlord disputes the Receiver's entitlement to remove
any such fixture under the provisions of the lease, such fixture shall remain on the
premises and shall be dealt with as agreed between any applicable secured creditors,
such landlord and the Receiver, or by further Order of this Court upon application by
the Receiver on at least two (2) days' notice to such landlord and any such secured
creditors.
NO PROCEEDINGS AGAINST THE RECEIVER
8. THIS COURT ORDERS that no proceeding or enforcement process in any court
or tribunal (each, a "Proceeding"), shall be commenced or continued against the
Receiver except with the written consent of the Receiver or with leave of this Court.
NO PROCEEDINGS AGAINST THE DEBTOR OR THE PROPERTY
9. THIS COURT ORDERS that no Proceeding against or in respect of the Debtor
or the Property shall be commenced or continued except with the written consent of the
40
-8-
Receiver or with leave of this Court and any and all Proceedings currently under way
against or in respect of the Debtor or the Property are hereby stayed and suspended
pending further Order of this Court.
NO EXERCISE OF RIGHTS OR REMEDIES
10. THIS COURT ORDERS that all rights and remedies against the Debtor, the
Receiver, or affecting the Property, are hereby stayed and suspended except with the
written consent of the Receiver or leave of Hlis Court, provided that nothing in this
paragraph shall (i) empower the Receiver or the Debtor to carry on any business which
the Debtor is not lawfully entitled to carry on, (ii) exempt the Receiver or the Debtor
from compliance with statutory or regulatory provisions relating to health, safety or the
environment, (iii) prevent the filing of any registration to preserve or perfect a security
interest, or (iv) prevent the registration of a claim for lien.
NO INTERFERENCE WITH THE RECEIVER
11. THIS COURT ORDERS that no Person shall discontinue, fail to honour, alter,
interfere with, repudiate, terminate or cease to perform any right, renewal right,
contract, agreement, licence or permit in favour of or held by the Debtor, without
written consent of the Receiver or leave of this Court.
CONTINUATION OF SERVICES
12. THIS COURT ORDERS that all Persons having oral or written agreements with
the Debtor or statutory or regulatory mandates for the supply of goods and/ or services,
including without limitation, all computer software, communication and other data
services, centralized banking services, payroll services, insurance, transportation
services, utility or other services to the Debtor are hereby restrained until further Order
of this Court from discontinuing, altering, interfering with or terminating the supply of
such goods or services as may be required by the Receiver, and that the Receiver shall
be entitled to the continued use of the Debtor's current telephone numbers, facsimile
41
-9-
numbers, internet addresses and domain names, provided in each case that the normal
prices or charges for all such goods or services received after the date of this Order are
paid by the Receiver in accordance with normal payment practices of the Debtor or
such other practices as may be agreed upon by the supplier or service provider and the
Receiver, or as may be ordered by this Court.
RECEIVER TO HOLD FUNDS
13. THIS COURT ORDERS that all funds, monies, cheques, instruments, and other
forms of payments received or collected by the Receiver from and after the making of
this Order from any source whatsoever, including without limitation the sale of all or
any of the Property and the collection of any accounts receivable in whole or in part,
whether in existence on the date of this Order or hereafter coming into existence, shall
be deposited into one or more new accounts to be opened by the Receiver (the "Post
Receivership Accounts") and the monies standing to the credit of such Post
Receivership Accounts from time to time, net of any disbursements provided for herein,
shall be held by the Receiver to be paid in accordance with the terms of this Order or
any further Order of this Court.
EMPLOYEES
14. THIS COURT ORDERS that all employees of the Debtor shall remain the
employees of the Debtor until such time as the Receiver, on the Debtor's behalf, may
terminate the employment of such employees. The Receiver shall not be liable for any
employee-related liabilities, including any successor employer liabilities as provided for
in section 14.06(1.2) of the BIA, other than such amounts as the Receiver may
specifically agree in writing to pay, or in respect of its obligations under sections 81.4(5)
or 81.6(3) of the BIA or under the Wage Earner Protection Program Act ..
42
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PIPED A
15. TillS COURT ORDERS that, pursuant to clause 7(3)(c) of the Canada Personal
Infonnation Protection and Electronic Documents Act, the Receiver shall disclose personal
information of identifiable individuals to prospective purchasers or bidders for the
Property and to their advisors, but only to the extent desirable or required to negotiate
and attempt to complete one or more sales of the Property (each, a "Sale"). Each
prospective purchaser or bidder to whom such personal information is disclosed shall
maintain and protect the privacy of such information and ·limit the use of such
information to its evaluation of the Sale, and if it does not complete a Sale, shall return
all such information to the Receiver, or in the alternative destroy all such information.
The purchaser of any Property shall be entitled to continue to use the personal
information provided to it, and related to the Property purchased, in a manner which is
in all material respects identical to the prior use of such information by the Debtor, and
shall return all other personal information to the Receiver, or ensure that all other
personal information is destroyed.
LIMITATION ON ENVIRONMENTAL LIABILITIES
16. THIS COURT ORDERS that nothing herein contained shall require the Receiver
to occupy or to take control, care, charge, possession or management (separately and/ or
collectively, "Possession") of any of the Property that might be environmentally
contaminated, might be a pollutant or a contaminant, or might cause or contribute to a
spill, discharge, release or deposit of a substance contrary to any federal, provincial or
other law respecting the protection, conservation, enhancement, remediation or
rehabilitation of the environment or relating to the disposal of waste or other
contamination including, without limitation, the Canadian Environmental Protection Act,
the Ontario Environmental Protection Act, the Ontario Water Resources Act, or the Ontario
Occupational Health and Safety Act and regulations thereunder (the "Environmental
Legislation"), provided however that nothing herein shall exempt the Receiver from
43
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any duty to report or make disclosure imposed by applicable Environmental
Legislation. The Receiver shall not, as a result of this Order or anything done in
pursuance of the Receiver's duties and powers under this Order, be deemed to be in
Possession of any of the Property within the meaning of any Environmental Legislation,
unless it is actually in possession.
LIMITATION ON THE RECEIVER'S LIABILITY
17. THIS COURT ORDERS that the Receiver shall incur no liability or obligation as
a result of its appointment or the carrying out the provisions of this Order, save and
except for any gross negligence or wilful misconduct on its part, or in respect of its
obligations under sections 81.4(5) or 81.6(3) of the BIA or under the Wage Earner
Protection Program Act. Nothing in this Order shall derogate from the protections
afforded the Receiver by section 14.06 of the BIA or by any other applicable legislation.
RECEIVER'S ACCOUNTS
18. THIS COURT ORDERS that the Receiver and counsel to the Receiver shall be
paid their reasonable fees and disbursements, in each case at their standard rates and
charges unless otherwise ordered by the Court on the passing of accounts, and that the
Receiver and counsel to the Receiver shall be entitled to and are hereby granted a
charge (the "Receiver's Charge") on the Property, as security for such fees and
disbursements, both before and after the making of this Order in respect of these
proceedings, and that the Receiver's Charge shall form a first charge on the Property in
priority to all security interests, trusts, liens, charges and encumbrances, statutory or
otherwise, in favour of any Person, but subject to sections 14.06(7), 81.4(4), and 81.6(2) of
the BIA.
19. THIS COURT ORDERS that the Receiver and its legal counsel shall pass its
accounts from time to time, and for this purpose the accounts of the Receiver and its
44
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legal counsel are hereby referred to a judge of the Commercial List of the Ontario
Superior Court of Justice.
20. THIS COURT ORDERS that prior to the passing of its accounts, the Receiver
shall be at liberty from time to time to apply reasonable amounts, out of the monies in
its hands, against its fees and disbursements, including legal fees and disbursements,
incurred at the standard rates and charges of the Receiver or its counsel, and such
amounts shall constitute advances against its remuneration and disbursements when
and as approved by this Court.
FUNDING OF THE RECEIVERSHIP
21. THIS COURT ORDERS that the Receiver be at liberty and it is hereby
empowered to borrow by way of a revolving credit or otherwise, such monies from
time to time as it may consider necessary or desirable, provided that the outstanding
principal amount does not exceed $750,000 (or such greater amount as this Court may
by further Order authorize) at any time, at such rate or rates of interest as it deems
advisable for such period or periods of time as it may arrange, for the purpose of
funding the exercise of the powers and duties conferred upon the Receiver by this
Order, including interim expenditures. The whole of the Property shall be and is hereby
charged by way of a fixed and specific charge (the "Receiver's Borrowings Charge") as
security for the payment of the monies borrowed, together with interest and charges
thereon, in priority to all security interests, trusts, liens, charges and encumbrances,
statutory or otherwise, in favour of any Person, but subordinate in priority to the
Receiver's Charge and the charges as set out in sections 14.06(7), 81.4(4), and 81.6(2) of
the BIA.
22. THIS COURT ORDERS that neither the Receiver's Borrowings Charge nor any
other security granted by the Receiver in connection with its borrowings under this
Order shall be enforced without leave of this Court.
45
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23. THIS COURT ORDERS that the Receiver is at liberty and authorized to issue
certificates substantially in the form annexed as Schedule "A" hereto (the "Receiver's
Certificates") for any amount borrowed by it pursuant to this Order.
24. THIS COURT ORDERS that the monies from time to time borrowed by the
Receiver pursuant to this Order or any further order of this Court and any and all
Receiver's Certificates evidencing the same or any part thereof shall rank on a pari passu
basis, unless otherwise agreed to by the holders of any prior issued Receiver's
Certificates.
SERVICE AND NOTICE
25. THIS COURT ORDERS that the E-Service Protocol of the Commercial List (the
"Protocol") is approved and adopted by reference herein and, in this proceeding, the
service of documents made in accordance with the Protocol (which can be found on the
Commercial List website at http:/ fwww.ontariocourts.cajscj/practice/practice-
directionsftoronto/ e-service-protocol/) shall be valid and effective service. Subject to
Rule 17.05 this Order shall constitute an order for substituted service pursuant to Rule ·
16.04 of the Rules of Civil Procedure. Subject to Rule 3.01(d) of the Rules of Civil
Procedure and paragraph 21 of the Protocol, service of documents in accordance with
the Protocol will be effective on transmission. This Court further orders that a Case
Website shall be established in accordance with the Protocol with the foiJowing URL
'www.kpmg.ca/ seafieldresources'.
26. THIS COURT ORDERS that if the service or distribution of documents in
accordance with the Protocol is not practicable, the Receiver is at liberty to serve or
distribute this Order, any other materials and orders in these proceedings, any notices
or other correspondence, by forwarding true copies thereof by prepaid ordinary mail,
courier, personal delivery or facsimile transmission to the Debtor's creditors or other
interested parties at their respective addresses as last shown on the records of the
Debtor and that any such service or distribution by courier, personal delivery or
46
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facsimile transmission shall be deemed to be received on the next business day
following the date of forwarding thereof, or if sent by ordinary mail, on the third
business day after mailing.
GENERAL
27. THIS COURT ORDERS that the Receiver may from time to time apply to this
Court for advice and directions in the discharge of its powers and duties hereunder.
28. THIS COURT ORDERS that nothing in this Order shall prevent the Receiver
from acting as a trustee in bankruptcy of the Debtor.
29. THIS COURT HEREBY REQUESTS the aid and recognition of any court,
tribunal, regulatory or administrative body having jurisdiction in Canada, in the United
States or in the Republic of Colombia to give effect to this Order and to assist the
Receiver and its agents in carrying out the terms of this Order. All courts, tribunals,
regulatory and administrative bodies are hereby respectfully requested to make such
orders and to provide such assistance to the Receiver, as an officer of this Court, as may
be necessary or desirable to give effect to this Order or to assist the Receiver and its
agents in carrying out the terms of this Order.
30. THIS COURT ORDERS that the Receiver be at liberty and is hereby authorized
and empowered to apply to any court, tribunal, regulatory or administrative body,
wherever located, for the recognition of this Order and for assistance in carrying out the
terms of this Order, and that the Receiver is authorized and empowered to act as a
representative in respect of the within proceedings for the purpose of having these
proceedings recognized in a jurisdiction outside Canada.
31. THIS COURT ORDERS that the Applicant shall have its costs of this
Application, up to and including entry and service of this Order, provided for by the
terms of the Applicartt' s security or, if not so provided by the Applicant's security, then
47
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on a substantial indemnity basis to be paid by the Receiver from the Debtor's estate
with such priority and at such time as this Court may determine.
32. THIS COURT ORDERS that any interested party may apply to this Court to
vary or amend this Order on not less than seven (7) days' notice to the Receiver and to
any other party likely to be affected by the order sought or upon such other notice, if
any, as this Court may order.
'•. ;·~·
i. (. ·.
48
SCHEDULE "A"
RECEIVER CERTIFICATE
CERTIFICATE NO. ____ _
AMOUNT$ __________ _
1. THIS IS TO CERTIFY that KPMG Inc., the receiver (the "Receiver") of the assets,
undertakings and properties Seafield Resources Ltd. acquired for, or used in relation to
a business carried on by the Debtor, including all proceeds thereof (collectively, the
"Property") appointed by Order of the Ontario Superior Court of Justice (Commercial
List) (the "Court") dated the [9th] day of September, 2014 (the "Order") made in an
action having Court file number 14-CL-__ __, has received as such Receiver from the
holder of this certificate (the "Lender") the principal sum of $ being part of
the total principal sum of $ which the Receiver is authorized to borrow
under and pursuant to the Order.
2. The principal sum evidenced by this certificate is payable on demand by the
Lender with interest thereon calculated and compounded [daily][monthly not in
advance on the ___ day of each month] after the date hereof at a notional rate per
annum equal to the rate of per cent above the prime commercial lending rate of
Bank of from time to time.
3. Such principal sum with interest thereon is, by the terms of the Order, together
with the principal sums and interest thereon of all other certificates issued by the
Receiver pursuant to the Order or to any further order of the Court, a charge upon the
whole of the Property, in priority to the security interests of any other person, but
subject to the priority of the charges set out in the Order and in the Bankruptcy and
Insolvency Act, and the right of the Receiver to indemnify itself out of such Property in
respect of its remuneration and expenses.
4. All sums payable in respect of principal and interest under this certificate are
payable at the main office of the Lender at Toronto, Ontario.
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5. Until all liability in respect of this certificate has been terminated, no certificates
creating charges ranking or purporting to rank in priority to this certificate shall be
issued by the Receiver to any person other than the holder of this certificate without the
prior written consent of the holder of this certificate.
6. The charge securing this certificate shall operate so as to permit the Receiver to
deal with the Property as authorized by the Order and as authorized by any further or
other order of the Court.
7. The Receiver does not undertake, and it is not under any personal liability, to
pay any sum in respect of which it may issue certificates under the terms of the Order.
DATED the __ day of ____ ---' 2014.
I<PMG Inc., solely in its capacity as Receiver of the Property, and not in its
personal capacity
Per: Name: Title:
50
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51
AppendixB
First Report of the Receiver to the Court, dated May II, 2015 and the Supplement to the First Report, dated May 18, 2015 (both without exhibits)
Pagel2
52
Court File No.CV-14-10686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE
(COMMERCIAL LIST)
IN THE MATTER OF SEAFIELD RESOURCES LTD. OF THE CITY OF TORONTO
IN THE PROVINCE OF ONTARIO
FIRST REPORT TO THE COURT SUBMITTED BY KPMG INC.,
RECEIVER
May 11,2015
53
Table of Contents
Introduction and Purpose of Report ................................................................................................. 2 1.1 Introduction ......................................................................................................................... 2 1.2 Purpose of Receiver's First Report ..................................................................................... 3
2 Initial Activities of the Receiver ...................................................................................................... 5 2.1 Taking Possession of the Books and Records ..................................................................... 5 2.2 Cash and Banking ............................................................................................................... 5 2.3 Notice .................................................................................................................................. 5 2.4 Employees ........................................................................................................................... 6 2.5 Independent Counsel. .......................................................................................................... 6
3 Overview ofMinera ......................................................................................................................... 7 3.1 Background ofMinera ........................................................................................................ 7 3.2 Overview of Activity Since the Date of Receivership ........................................................ 7 3.3 Significant Events in Colombia to be Brought to the Attention of the Court ..................... 9
4 Other Company Assets .................................................................................................................. 12 4.1 Shares of Manitou Gold Inc .............................................................................................. 12 4.2 Investment in the Elora Property ...................................................................................... 12
5 Proposed Sale and Investor Solicitation Process ........................................................................... 14
6 Receipts and Disbursements .......................................................................................................... 16
7 Conclusion and Order Sought ........................................................................................................ 19
54
Listing of Appendices
Appendix A
AppendixB
AppendixC
AppendixD
AppendixE
Appendix F
Receivership Order dated September 9, 2014
Notice and Statement of the Receiver (Form 87)
Chronology of Events in Colombia
Summary of Labour Agreement Amendments
Sale and Investor Solicitation Process
Receiver and Counsels' fees
Page 1
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1 Introduction and Purpose of Report
1.1 Introduction
1.1.1 Seafield Resources Ltd. ("Seafield" or the "Company") is a company incorporated pursuant to the
Ontario Business Corporations Act with a registered office at 36 Toronto Street, Suite 1000,
Toronto, Ontario. Seafield is a development stage gold company with its principal asset being the
shares of its wholly·owned subsidiary, Minera Seafield S.A.S ("Minera"), a Colombian company.
Minera is 100% owner of 15 mining concessions covering an area of 6,042.8 hectares located in
the Municipality ofQuinchfa, Department ofRisaralda, Republic of Colombia.
1.1.2 The Company's senior secured lender, and by far most significant creditor, is RMB Australia
Holdings Ltd. ("RMB"), which is owed approximately CAD $18.6 million 1 from Seafield and
Minera. These amounts were borrowed by Seafield pursuant to a facility agreement between RMB
and Seafield dated February 21, 2013 (the "Facility Agreement"). Seafield, as borrower under
the Facility Agreement, and Minera, as guarantor of Seafield's obligations under the Facility
Agreement, each granted RMB security over all their respective assets, undertakings and property,
including but not limited to (in the case of Seafield) all of the issued and outstanding shares in
Minera (the "Minera Shares").
1.1.3 As a result of the decline in the price of gold and continuing cash flow difficulties, the Company
could not successfully restructure its financing arrangement with RMB, and ultimately failed to
make an interest payment of approximately $406,000 due on July 15, 2014, causing the Company
in default under the Facility Agreement.
1 All dollar amounts expressed herein, unless otherwise stated, are expressed in Canadian Dollars.
Page2
56
1.1.4 On August 28, 20 I 4, RMB issued a demand for payment and notice of intention to enforce security
(the "BIA Notice") pursuant to Section 244 of the Bankruptcy and Insolvency Act ("BIA'').
1.1.5 On September 4, 20 I 4, Seafield publically announced that Minera filed a request to enter
reorganization proceedings under the Colombian law I I 16 of20062•
1.1.6 RMB was strongly opposed to the decision taken by Seafield to file Minera for reorganization under
Colombian law as RMB believed that such a filing request, if accepted, would materially prejudice
the interests of RMB and other operating creditors of Minera. As such, RMB lost confidence in
the executive management of Seafield.
1.1. 7 Accordingly, shortly after RMB issued its BIA Notice, it commenced an application to appoint
KPMG Inc. ("KPMG") as receiver of Seafield (the "Receiver") to among other things, take
possession of and exercise control over the assets of the Company (including the Minera Shares)
and any and all proceeds, receipts and disbursements arising out of or from the assets (the
"Property").
1.1.8 By order of the Honourable Mr. Justice Newbould of the Ontario Superior Court of Justice made
on September 9, 2014, KPMG was appointed as Receiver (the "Receivership Order"). A copy of
the Receivership Order is attached as Appendix "A".
1.2 Purpose of Receiver's First Report
1.2.1 This is the Receiver's First Report to this Honourable Court in this matter and it is filed to:
a) Provide an update with respect to the actions taken to obtain control over Minera;
b) Request this Honourable Court's approval of the proposed sale process of the Company's
propetty, including its interest.in Minera described herein;
2 An insolvency proceeding under Colombian law which enables the business to continue as a going concern while seeking a settlement with its creditors.
Page3
57
c) Present the statement of receipts and disbursements for the receivership period September
9 to April30, 2015;
d) Support the Receiver's request for authorization to assign Seafield into Bankruptcy;
e) Support the Receiver's request for an order increasing the amount the Receiver is
authorized to borrow from $750,000 to USD $3,000,000 and for an order that the advances
made directly by RMB to Minera shall be deemed to be secured obligations under the
Receiver's Borrowing Charge;
f) Provide an update to this Honourable Court on various other matters; and
g) Support the Receiver's request for the approval of the Receiver's First Report and the
activities of the Receiver described therein.
Page4
58
2 Initial Activities of the Receiver
2.1 Taking Possession of the Books and Records
2.1.1 The Company's registered office is that of DSA Corporate Services Inc. and Marrelli Support
Services Inc. which Seafield engaged to provide corporate secretarial, financial accounting and
reporting services for the Company and its subsidiaries.
2.1.2 Immediately upon appointment, the Receiver attended the Company's registered offices and took
possession of the books and records.
2.2 Cash and Banking
2.2.1 After its appointment, the Receiver notified the Company's bank of its appointment and requested
all accounts be frozen for deposit only.
2.2.2 The Receiver immediately arranged for the opening of new bank accounts in the name of the
receivership estate to facilitate future receipts and disbursements with respect to the administration
of the receivership.
2.3 Notice
2.3.1 The Receiver has issued the prescribed notice pursuant to Section 245(1) of the Bankruptcy and
Insolvency Act to all known secured and unsecured creditors of the Company, providing notice of
its appointment. A copy of the notice is attached hereto as Appendix "B".
2.3.2 The prescribed notice pursuant to Section 245(2) also been provided to the Office of the
Superintendent of Bankruptcy. This notice includes an interim statement of receipts and
disbursements, a statement of all property of which the Receiver has taken possession or control
that has not yet been sold or realized and information about the anticipated completion of the
receivership.
PageS
59
2.4 Employees
2.4.1 Seafield did not have any employees as of the date of the Receivership Order.
2.4.2 The executives of Seafield, Mr. David Prins (former Chief Executive Officer, President and
Chairman) ("Prins") and Ms. Stephanie Ashton (former Chief Financial Officer) ("Ashton") were
engaged under contractor agreements which were terminated by the Receiver following
appointment.
2.4.3 Minera has approximately 20 employees who are involved in the administration, care and
maintenance of the Min era assets.
2.5 Independent Counsel
2.5.1 The Receiver has retained McMillan LLP ("McMillan") as its independent counsel in these
proceedings. McMillan is a well-known and highly regarded national Canadian business law firm.
2.5.2 The Receiver also retained Philippi, Prietocarrizosa & Uria ("Colombian Counsel" or "PPU") as
its independent local counsel in Colombia. PPU has approximately 230 lawyers and offices in
Bogota and Barranquilla, Colombia and Santiago, Chile. PPU is recognized as a leading Latin
American law firm and has received recognition from, among others, Chambers Latin America,
International Financial Law Review, Euromoney, International Tax Review and Latin Lawyer.
Page6
60
3 Overview of Min era
3.1 Bacl<ground of Min era
3.1.1 The Company's principal asset is its sole shareholding in Minera.
3.1.2 The assets of Minera were acquired in April 2010 through a sale purchase agreement with
Asociaci6n de Mineros de Miraflores. Following acquisition, the Company began advancing the
exploration and development ofMinera's assets toward commercial production of gold.
3.1.3 Min era hired several employees in Colombia to oversee the exploration, administration and security
of the site. Prior to the Receivership Order, the assets ofMinera were explored through a series of
drilling programs, including two Preliminary Economic Assessments completed in April2012 and
August 2013 by SRK Consulting (U.S.), Inc. ("SRK"), a professional mining and geotechnical
consulting firm.
3.1.4 An updated technical report (commissioned by RMB) was completed by SRK in February 2015
(the "2015 Technical Report") and indicates an after-tax net present value of expected future gold
and silver production of greater than US$70 million, to be derived from a development of the
property into an underground and open pit mine. However, significant capital is required to bring
the asset to production.
3.2 Overview of Activity Since the Date of Receivership
3.2.1 Up until August 30, 2014 the former directors ofMinera (the "Former Board") consisted of the
following individuals:
(a) Prins, Director;
(b) Ashton, Director;
(c) Giovanny Ortiz ("Ortiz"), Director and CEO
Page?
61
(d) Catalina Cadena ("Cadena"), Director and Deputy CEO;
(e) Cesar Lopez ("Lopez"), Director; and
(t) Juan Villarzu ("Villarzu"), Director
3.2.2 The Affidavit of Alvaro Be levan sworn September 8, 2014, filed in support of the application of
RMB to this Honourable Court for the Receivership Order, set out RMB's efforts to attempt to
replace the Former Board and the objectives that would be achieved after changing the board. The
primary objectives in replacing the Former Board were (a) to withdraw Minera's application for
admission into reorganization proceedings in Colombia; (b) to provide a stable funding source for
Minera once the Former Board was removed; and (c) to run a sales process to maximize value for
stakeholders.
3.2.3 Since its appointment and up until recently, the Receiver has faced significant challenges in
achieving these objectives largely due to actions and positions taken by the Former Board
immediately prior to and following the granting of the Receivership Order. The principal
challenges arose from the Fonner Board's refusal to acknowledge the authority of the Receiver to
exercise the rights as the legal representative of Seafield as the sole shareholder of Minera. This
refusal continued notwithstanding that the Receivership Order expressly granted the Receiver the
power to exercise the powers of Seafield as sole shareholder of Minera, including the power to
remove and replace the directors of Minera.
3.2.4 A chronology of events describing the challenges and summarizing the various steps taken and
documents filed on behalf of the Former Board and the Receiver from August 2014 through to
present has been prepared (the "Chronology of Events") and is attached hereto as Appendix "C".
There are a number of documents referred to in the Chronology of Events; while the Receiver has
access to these documents, the majority of them are in Spanish.
Page 8
62
3.2.5 Ultimately, the activities in Colombia led to the Receiver requesting for Minera to be put under the
control of the Office of the Superintendent of Companies in Colombia (the "Control Measure").
The imposition of the Control Measure over Minera facilitated the replacement of the Fonner Board
with a new board (the "New Board") (the members of the New Board are set out in Appendix
"C") and recognition of the Receiver's authority by the relevant Colombian regulators.
3.2.6 Subject to the approval of this Honourable Court, the Receiver is now in position to conduct a sales
and investment solicitation process involving Minera, as further described herein.
3.3 Significant Events in Colombia to be Brought to the Attention of the Court
3.3.1 The following section highlights specific events in Colombia the Receiver would like to bring to
the Court's attention including amendments to labour agreements of former Minera officers and
directors, Prins and Ortiz.
3.3.2 On October 14,2014, Prins and Ortiz informed the Receiver and Seafield of the existence of alleged
amendments to their labour agreements with Minera (the "Labour Agreement Amendments")
which, among things, provided them with significant claims for compensation against Min era. The
Receiver subsequently learned that the Labour Agreement Amendments were adopted by Minera
following a resolution of the former board of directors of Seafield made shortly prior to the
Receivership Order, at a time that Seafield was encountering significant cash flow problems and
was in default under the RMB Facility Agreement. A summary of the Labour Agreement
Amendments was prepared by PPU and is attached as Appendix "D".
3.3.3 The existence of the alleged Labour Agreement Amendments came as a surprise to the Receiver.
Despite the fact the Receiver had been appointed on September 9, 2014 and despite the fact the
Receiver had made a number of requests for copies of any labour, employment, or consulting
agreements between Seafield or Minera and its officers following September 9, 2014, the Receiver
was only informed of the existence of the Labour Agreement Amendments on October 14, 2014.
Page 9
63
3.3.4 It is the Receiver's understanding that the Labour Agreement Amendments may have the effect of
giving Prins and Ortiz a priority over the creditors of Min era in an insolvency proceeding under
Colombian law and therefore may have a detrimental effect on the recoveries of the creditors of
Seafield.
3.3.5 On October 24, 2014, the Receiver sent correspondence to Prins and Ortiz, requesting that any
rights under the Labour Agreement Amendments be waived.
3.3.6 On November 29, 2014, Prins sent correspondence to Minera, requesting payment of "labour
benefits" which he claimed under the Labour Agreement Amendments.
3.3. 7 On December 11, 20 14, correspondence from Min era was delivered by Mr. Alvaro Be levan
("Be1evan") terminating Prins' labour contract and its amendments. Belevan negotiated a
termination of Ortiz' labour contract and its amendments on March 26, 2015 and signed a new
agreement under which Ortiz would provide ongoing services to Minera.
3.3.8 On January 9, 2015, Prins filed a writ with the Superintendent of Companies that his rights under
the Labour Agreement Amendments be recognized during the "reorganization procedure". The
Superintendent responded to Prins on February 2, 2015, indicating that there was no reorganization
procedure in respect of Minera.
3.3.9 On April 5, 2015, Prins sent a letter (the "April s•h Letter") to RMB and certain of its affiliates
alleging breaches of Prins' labour agreement relating to his termination, an undertaking by Minera
to the Colombian government related to relocation expenses for former employees and, alleging
defamatory statements made about him by employees of RMB and members of the New Board.
RMB responded to the April 5°' Letter on April 14, 20l5, denying each and every allegation stated
or implied therein.
3.3.10 Although the April 5"' Letter was not addressed to the Receiver, the letter included certain
references to the Receiver in connection with the allegations contained therein. The Receiver has
reviewed the April 5"' Letter in detail and is of the opinion that the complaints are without merit.
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However, as the Receiver is mentioned in the letter, the Receiver felt it was appropriate to bring
the letter to the attention of the Court.
3.3.11 The Receiver seeks the authorization of the Court to assign Seafield into bankruptcy in order to
preserve any rights to challenge the Labour Agreement Amendments and any other reviewable
transactions undertaken by Seafield or any related or controlling person.
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4 Other Company Assets
4.1 Shares of Manitou Gold Inc.
4.1.1 At the date of the Receivership Order, the Company owned 1,000,000 shares of Manitou Gold Inc.
("Manitou") a Canadian gold exploration company trading on the TSX Venture exchange.
4.1.2 The Receiver was approached by Manitou to purchase the shares. After a negotiation with Manitou
and considering the marketability and potential disposal costs of the shares with the Company's
broker, the Receiver sold the shares to Manitou for a total of$12,500.
4.1.3 On or around the date the Receiver agreed to sell the shares, the shares were trading at $0.0 I 5 per
share with limited volume (the shares did not trade on at least 20 trading days between the date of
the Receivership Order and the date of the sale). This approach.to the sale of the Manitou shares
was considered to be the approach that would garner the highest net estate realizations.
4.2 Investment in the Elora Property
4.2.1 The Company has a I 00% registered and beneficial interest in I 4 patented parcels of mining land
and one licence of occupation in the Upper Manitou Lake Area, Boyer Lakes Map Area, Kenora
Mining Division (Dryden Area) District of Kenora, Ontario (the "Elora Property"), which it
obtained pursuant to the terms of an Option Agreement between Elora Gold Mines Limited
("Elora") and Gold Summit Mines Ltd. ("Gold Summit") dated October I, 2002. The interest
was assigned to Seafield pursuant to an assignment agreement among Elora, Gold Summit and
Seafield dated October I, 2003, as restated between Elora and Seafield pursuant to an agreement
dated October I, 2005 (the "Elora Option Agreement").
4.2.2 According to the Elora . Option Agreement, Elora retained a 2.5% net smelter return royalty
("NSR") and Seafield is required to make annual advance royalty payments of $20,000 by
December I st of each year until the project reaches commercial production.
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4.2.3 In 2012, the Company entered into an option agreement with Manitou (the "Manitou Option
Agreement") whereby Maoitou could acquire the Company's interest in the Elora Property in
exchange for the payment of $0.2 million in cash, the issuance of 2,000,000 common shares of
Manitou and the completion of a $2.5 million work commitment over a three year period.
4.2.4 In May 2014, Manitou approached the Company to renegotiate the terms of the Manitou Option
Agreement, however, revised terms could not be agreed and the agreement was terminated.
4.2.5 The Receiver is proposing to market the Company's interest in the Elora Property through the sale
and investor solicitation process described fm1her herein.
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5 Proposed Sale and Investor Solicitation Process
5.1.1 Pursuant to the Receivership Order, the Receiver is authorized to market and sell the Property. In
this regard, the Receiver is of the view that it is necessary to execute a sale and investor solicitation
process ("SISP") to properly market Minera and the Elora Property with a goal of achieving
maximum realizations for all creditors and stakeholders.
5.1.2 The Receiver is seeking approval from this Honourable Court to approve the SISP which has been
developed in consultation with RMB. The SISP is attached hereto as Appendix "E". The key
activities and timelines of the SISP are summarized below:
Phase 2 Bid Deadline
Selection of the Successful Bid
Closing of any Successful Bid
19,2015
August 19, 2015
September II, 2015
September 30, 2015
Solicitation of non-binding letters of intent ("LOI''s) for the Company .
• • To occur at 5:00pm on July 15,2015 .
• LOis will be considered in to the ofthe SISP • Within 5 business days following the Phase l Bid Deadline, the LOis
received will" be assessed to determine which LOis will be qualified to move onto ·
• For a period of approximately 6 weeks after the identification of LOis, Prospective Bidders conduct additional due diligence and prepare irrevocable bids ("Final Bids").
• During Phase 2, Prospective Bidders will be given access to a more data room and the opportunity to meet with management and tour
• To occur at 5:00pm on August 19, 2015. • Prospective bidders must deliver their Final Bids prior to the Phase 2 Bid
Deadline. • Terms of all Final Bids will be clarified. • The Receiver will make a recommendation that the most favorable Final
Bid is selected and the terms of the agreement will be negotiated (the "Successful Bid") .
• •
5.1.3 Based on the proposed timeframe, the final closing of a sales transaction is contemplated for the
end of September, 2015. The Receiver is of the view that the timeframe is commercially reasonable
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given the nature of the asset and the market of potential investors. This time line may be subject to
regulatory approval requirements in Colombia.
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6 Receipts and Disbursements
6.1.1 As a development stage gold company, Seafield does not have any sources of revenue.
6.1.2 The disbursements during the receivership have primarily related to the preservation ofMinera's
operations in an idle state and include the payment of wages of Minera's employees, and other
costs such as site security, .insurance and property taxes. Funding Minera's operating costs on an
ongoing basis was necessary to avoid reorganization proceedings which the Former Board
attempted to initiate prior to the making of the Receivership Order and which could have prejudiced
the interests of RMB and other operating creditors of Minera.
6.1.3 Minera's operating costs were initially financed by the Receiver's borrowings from RMB under
Receiver's Certificates totalling USD $443,471 in principal.
6.1.4 On December 19, 2014, Minera entered into a loan agreement directly with RMB (the "Minera
Loan Agreement"). The Minera Loan Agreement, as amended, 3 enables Minera to borrow up to
USD $3,000,000 from RMB in order to fund operating costs. The interest rate under the Minera
Loan Agreement is LIBOR plus 7% (same as under the Facility Agreement) and there are no
incremental fees associated with the Minera Loan Agreement.
6.1.5 The Minera Loan Agreement was put in place to facilitate direct funding to Minera in order to
ensure that the funding provided by RMB to Minera would have priority over Min era's assets in
the event of an asset sale in respect ofMinera. The Receiver supported the Min era Loan Agreement
to ensure the ongoing funding of Minera and to avoid reorganization proceedings in respect of
Min era. In consideration ofRMB providing funding to Minera under the Minera Loan Agreement,
3 The financial accommodations provided for in the Minera Loan Agreement were initial provided in Canadian dollars, however the Minera Loan Agreement was amended on February 5, 2015 to provide that the financial accommodations would be in US dollars.
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the Receiver agreed to seek an order from the Court that the advances made under the Minera Loan
Agreement be deemed to be secured under the Receiver's Borrowing Charge (as that term is defined
in the Receivership Order).
6.1.6 The total amount outstanding under the Minera Loan Agreement as of April 30, 2015 is USD
$489,364.
6.1.7 The following table represents a summary of the Company's receipts and disbursements for the
period September 9, 2014 to April 30, 2015. The table does not include the amounts advanced by
RMB to Minera directly under the Minera Loan Agreement (USD $489,364 as of April30, 2015).
The aggregate total of the funds advanced to the Receiver through Receiver's Certificates pursuant
to the Facility Agreement and directly to Minera through the Minera Loan Agreement is close to
$1,000,000. Additional disbursements will be required in the coming months, including the
ongoing funding of Minera and professional fees to the Receiver and its independent counsel.
Accordingly, the Receiver is seeking to increase the authorized borrowings from $750,000 to USD
$3,000,000 (inclusive of amounts borrowed directly from RMB by Min era under the Minera Loan
Agreement).
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In the matter of the Receivership of Seafield Resources Ltd. Statement of Receipts & Disbursements
For the period September 9, 2014 to Apri130, 2015 As at April30, 2015
Account Description Disbursements Receipts Cash realizations from Seafield bank accounts 41,587 Sale of share in Manitou 12,500 HST refunds 8,351 Payments to Minera to fund operations 469,107 HSTpaid 54,220 Web hosting services 2,540 Bank charges 1,921 CRA deemed trust claim 1,624 Drilling sample storage 1,500 Total Receipts and Disbursements 530,912 62,438 Net Disbursements over Receipts 468,473
Funding provided by RMB (USD $443,471) 477,393 Cash used to fund receivership (468,473) Net balance in Estate 8,920
6.1.8 In addition to the above, fees of the Receiver, McMillan and Colombian Counsel up to and
including November 30, 2014 have been paid by RMB pursuant to a fee and disbursement
guarantee agreement. Details these fees have been included in Appendix "F".
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7 Conclusion and Order Sought
7.1.1 As may be evident from Section 3.0 and Appendix "C" of this First Report, the Receiver has faced
significant difficulty in obtaining possession over the Company's investment in Minera.
7.1.2 Though the Receiver has finally been able to replace the board ofMinera as of the date of the First
Report, a dispute remains between former executive of the Company, Prins, and Min era regarding
the governance ofMinera, as it relates to the Labour Agreement Amendments.
7.1.3 We submit this First Report to this Honourable Court in support of our Motion respectfully
requesting this Honourable Court to:
(a) Approve this First Report, and the activities of the Receiver described herein;
(b) Approve the SISP;
(c) . Approve the Statement of Receipts and Disbursements for the period September 9, 2014
to April30, 2015;
(d) Authorize the Receiver to assign the Company into bankruptcy;
(e) Increase the amount the Receiver is authorized to borrow from $750,000 to USD
$3,000,000; and
(f) Order that the advances made directly by RMB to Minera shall be deemed to be secured
obligations under the Receiver's Borrowing Charge.
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All of which is respectfully submitted this lith day of May, 2015.
KPMG INC. in its sole capacity as COURT-APPOINTED RECEIVER OF SEAFIELD RESOURCES LTD. and not in its personal capacity
Per: Philip Reynolds Senior Vice President
Per: Ryan Adlington Senior Vice President
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Court File No.CV-14-10686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE
(COMMERCIAL LIST)
IN THE MATTER OF SEAFIELD RESOURCES LTD. OF THE CITY OF TORONTO
IN THE PROVINCE OF ONTARIO
SUPPLEMENT TO THE FIRST REPORT TO THE COURT SUBMITTED BY KPMG INC.,
RECEIVER
May 18, 2015
75
1 Purpose of the Supplement to the First Report
1.1.1 The purpose of this supplement to the First Report is to provide this Honourable Court with an
update of events that have transpired subsequent to the filing of the First Report on May 12, 2015.
Capitalized terms used herein and not otherwise defined shall have the same meaning ascribed to
them in the First Report
1.1.2 On May 15, 2015, the Receiver was provided with responding motion materials from Mr. David
Prins, former Chief Executive Officer, President and Chairman of Seafield (the "Prins
Materials").
1.1.3 The Prins Materials suggest that Mr.Prins is mainly opposed to the Receiver having the power to
assign Seafield into bankruptcy and the effect that might have on the Labour Agreement
Amendments. On May 15, 2015, Receiver's counsel sent Mr. Prins a letter explaining that a
bankruptcy of Seafield would not have the effect of automatically nullifYing or voiding the Labour
Agreement Amendments and that should the trustee in bankruptcy of Seafield decide to pursue any
actions in respect of the Labour Agreement Amendments, it must proceed with such action at a
later date on notice to Mr. Prins. The letter is attached as Appendix "A".
1.1.4 The Prins Materials also assert that the Labour Agreement Amendments did not create any new
obligations for Minera or Seafield. While this is an issue to be determined at a later date, the
Receiver believes the following documents will be relevant in making that determination:
(a) Minutes ofSeafield's compensation committee and board of directors meeting dated
June 16, 2014 and June 20, 2014, respectively (Appendix "B");
(b) Amendments to the employment agreement of Mr. Prins dated August 28, 2014
(Appendix "C"); and
(c) The assignment agreement related to Ms. Stephanie Ashton's employment agreement
dated August 30, 2014 (Appendix "D").
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All of which is respectfully submitted this 18th day of May, 2015.
KPMG INC. in its sole capacity as COURT-APPOINTED RECEIVER OF SEAFIELD RESOURCES LTD. and not in its personal capacity
Per: Philip Reynolds Senior Vice President
Per: Ryan Adlington Senior Vice President
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AppendixC
Order of Justice Wilton-Siegel dated May 20, 2015 (the SISP Approval Order)
Page J3
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Court File No. CV-14-10686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
THE HONOURABLE
JUSTICE WILTON-SIEGEL
~1i'i:i'iir-.
) WEDNESDAY, THE 20TH ) ) DAYOFMAY,2015
. /~6' 0~ d~ ~~--' ' frn~ATTER OF RECEIVERSHIP OF SEAFIELD RESOURCES LTD.
;'' ij ' ; ~~ '~ rn \({. .:·~-~ 4J ·5~, ~',~C"'J () \{,. '-~ .§:' ORDER
'··"'" ,..:; • "'I? ~.
~.<u!!~'TI'Iis MOTION, made by KPMG Inc. in its capacity as the Court-appointed
receiver pursuant to Section 243(1) of the Bankruptcy and Insolvency Act ("BIA'') and
Section 10 I of the Courts of Justice Act (the "Receiver") of Seafield Resources Ltd.
("Seafield''), was heard this day at 330 University Avenue, Toronto, Ontario.
ON READING the Motion Record of the Receiver, the Factum of_the Receiver,
the Responding Motion Record of David Prins, the Factum of David Prins, the
Supplement to the First Report of the Receiver to the Court, dated May 18, 2015, the
Affidavit of David Prins, dated May 19,2015 and on hearing the submissions of counsel
for the Receiver and counsel for RMB Australia Holdings Ltd. and RMB Resources Inc.,
the principal secured creditor of Seafield, and no one appearing for any other parties,
although properly served as appears from proof of service:
1. THIS COURT ORDERS that the time for service of the Notice of Motion and
the Motion Record of the Receiver is hereby abridged and validated so that this motion
is properly returnable today and hereby dispenses with further service thereof.
2. THIS COURT ORDERS that the Sales and Investor Solicitation Procedure,
attached as Schedule "A" to this Order (the "SISP"), is hereby approved.
3. THIS COURT ORDERS that the Receiver is hereby authorized to take the steps
that are reasonably necessary or desirable to carry out the SISP, including, without
79
I•
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limitation, all steps as the legal representative of Seafield as sole shareholder of Minera
Seafield S.A.S. ("Minera").
4. TillS COURT ORDERS that the permitted amount of the Receiver's Borrowings
Charge, provided for at paragraph 21 of the Order of Justice Newbould, dated September
9, 2014 (the "Receivership Order"), shall be and is increased from $750,000 to USD
$3,000,000.
5. THIS COURT ORDERS that the Receiver is hereby authorized to assign
Seafield Resources Ltd. into bankruptcy if it reasonably determines that such step is
necessary to preserve any rights to challenge the Labour Agreement Amendments (as
defined in the First Report) and any other reviewable transactions undertaken by
Seafield or any other person.
6. THIS COURT ORDERS that this Order, the Receivership Order and the SISP
shall remain valid and binding notwithstanding any assigrunent into bankruptcy of
Seafield.
7. This Court hereby requests the aid and recognition of any other Canadian and
foreign court, tribunal, regulatory or administrative body ("Judicial Body"), including ·
any Judicial Body of the Republic of Colombia, to give effect to this Order and to assist
the Receiver and its respective agents in carrying out the terms of this Order. All
Judicial Bodies are hereby respectfully requested to make such orders and to provide
such assistance to the Receiver as an officer of this Court, as may be necessary or
desirable to give effect to this Order, to grant representative status to the Receiver in any
foreign proceeding, or to assist the Receiver and its respective agents in carrying out the
terms of this Order.
EN7EhCC AT/ ii\SCMiT A TORO~TO ON I BOO" "JO: LEI DI\NS LE flEG;:rm: NO.:
MAY Z ·J 2015
80
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SCHEDULE "A"
81
,.
SALE AND INVESTOR SOLICITATION PROCEDURES
SEAFIELD RESOURCES LTD.
RECITALS
A. Pursuant to an Order (the "Receivership Order") granted by the Ontario Superior Court of Justice (the "Court") on September 9, 2014, KPMG Inc. was appointed as receiver (the "Receiver") of all of the assets, undertakings and properties of Seafield Resources Ltd. ("Seafield").
B. On May 19,2015, the Court granted an order (the "SISP Approval Order") approving a sale and investor solicitation process (the "SISP") and the SISP procedures set forth herein (these "SISP Procedures").
C. The SISP Approval Order, the SISP and these SISP Procedures shall govern the process for soliciting and selecting bids for (i) the sale of all or substantially all of the property, assets and undertakings of Seafield (the "Seafield Property''), including without limitation (a) all of the share capital of Minera (the "Minera Shares"), and (b) the Elora gold mine and related assets located in the Kenora Mining Division in Northwestern Ontario (the "Elora Property") (a "Sale"); (ii) the sale of all or substantially all of the property, assets, and undertakings of Minera (the "Minera Property") by Minera, subject to compliance with applicable Colombian law and approval by the Receiver acting as the authorized representative of the sole shareholder of Minera; and (iii) for the restructuring, recapitalization or refinancing of Seafield or Minera (an "Investment").
D. All dollar amounts expressed herein, unless otherwise noted, are in Canadian currency. Unless otherwise indicated herein any event that occurs on a day that is not a Business Day shall be deemed to occur on the next Business Day.
ARTICLE 1- DEFINED TERMS
In these SISP Procedures:
(I) "Approval Hearing" has the meaning ascribed thereto in Section 5.8(1).
(2) "Backup Bid" has the meaning ascribed thereto in Section 5.6(4).
(3) "Backup Bid Expiration Date" has the meaning ascribed thereto in Section 5.6(6).
(4) "Backup Bidder" has the meaning ascribed thereto in Section 5.6(4).
(5) "Bid Notice" has the meaning ascribed to it in Section 4.3(5).
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,.
(6) "Business Day" means any day other than (i) a Saturday or Sunday or (ii) a day which is a statutory holiday in either Toronto, Ontario or Medellin, Colombia.
(7) "Court" has the meaning ascribed thereto in Recital A.
(8) "Confidentiality Agreement" has the meaning ascribed thereto in Section 2.4(2).
(9) "Creditor Consultation Rights" has the meaning ascribed to it in Section 5.7.
(10) "Defmitive Investment Agreement" has the meaning ascribed thereto in Section 5.3(a).
(11) "Deposit" has the meaning ascribed thereto in Section 5.2(i).
(12) "Elora Property" has the meaning ascribed thereto in Recital C.
(13) "Form of Purchase Agreement" means the form of purchase and sale agreement to be developed by the Receiver and provided to Qualified Phase 2 Bidders that submitted a: . Qualified Non-Binding Indication of Interest that is a Sale Proposal prior to the Phase 1 Bid Deadline.
(14) "Investment" has the meaning ascribed thereto in Recital C.
(15) "Investment Proposal" has the meaning ascribed thereto in Section 2.5(1 )(d).
(16) "Known Potential Bidders" has the meaning ascribed thereto in Section 2.4(1).
(17) "Minera" means Seafield's wholly-owned Colombian subsidiary, Minera Seafield S.A.S.
(18) "Minera Property" has the meaning ascribed thereto in Recital C.
(19) "Minera Shares" has the meaning ascribed thereto in Recital C.
(20) "New Potential Bidder" has the meaning ascribed thereto in Section 2.4(1).
(21) "Non-Binding Indication of Interest" has the meaning ascribed thereto in Section4.1(1).
(22) "Phase 1 Bid Deadline" has the meaning ascribed thereto in Section 4.1 (2).
(23) "Phase 2 Bid Deadline" has the meaning ascribed thereto in Section 5.1.
(24) "Potential Bidder" has the meaning ascribed thereto in Section 2.5(1).
(25) "Potential Bidder Deadline" has the meaning ascribed thereto in Section 2.5(1).
(26) "Purchase Price" has the meaning ascribed thereto in Section 5.2(b ).
(27) "Qualified Bidder" has the meaning ascribed thereto in Section 5.4(1).
(28) "Qualified Bids" has the meaning ascribed thereto in Section 5.4(1).
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..
(29) "Qualified Investment Bid" has the meaning ascribed thereto in Section 5.3.
(30) "Qualified Non-Binding Indication of Interest" has the meaning ascribed thereto in Section 4.2(1).
(31) "Qualified Phase 1 Bidder" has the meaning ascribed thereto in Section 2.5(2).
(32) "Qualified Phase 2 Bidder" has the meaning ascribed thereto in Section 4.3( 4).
(33) "Qualified Purchase Bid" has the meaning ascribed thereto in Section 5.2.
(34) "Receiver" means KPMG Inc., in its capacity as receiver of Seafield pursuant to the Receivership Order.
(35) "Receivership Order" has the meaning ascribed thereto in Recital A.
(36) "RMB" means RMB Australia Holdings Limited.
(37) "RMB Facility" means the lending facility made available to Seafield by RMB pursuant to that certain Credit Agreement dated February 21, 2013, as amended, restated, or supplemented from time to time.
(38) "Sale" has the meaning ascribed thereto in Recital C.
(39) "Sale Proposal" has the meaning ascribed thereto in Section 2.5(1)(d).
( 40) "Seafield" has the meaning ascribed thereto in Recital A.
(41) "Secured Claims Amount" means the aggregate amount owing (whether for principal, interest, fees and recoverable expenses) to the Secured Creditor, as at the date which the transactions contemplated by the Qualified Bid or Successful Bid, if any, are completed, under the RMB Facility and validly secured by the Seafield Property, all as determined by the Receiver, Court or other court of competent jurisdiction.
( 42) "Secured Creditor" means RMB or any purchaser or assignee of the RMB Facility, related security documents and indebtedness outstanding thereunder.
( 43) "SISP" has the meaning ascribed thereto in Recital B.
(44) "SISP Approval Order" has the meaning ascribed thereto in Recital B.
(45) "SISP Procedures" has the meaning ascribed thereto in Recital B.
(46) "Solicitation Process" has the meaning ascribed thereto in Section 2.1(1).
(47) "Successful Bid" has the meaning ascribed thereto in Section 5.6(4).
( 48) "Successful Bidder" has the meaning ascribed thereto in Section 5.6( 4).
(49) "Target Closing Date" means September 30, 2015.
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,.
(50) "Teaser Letter" has the meaning ascribed thereto in Section 2.4(1 ).
ARTICLE 2- SOLICITATION
Section 2.1 Solicitation Process
(1) These SISP Procedures describe, among other things, the Seafield Property and the Minera Property available for sale, the opportunity for an investment in Seafield or Minera, the debts and equity interests of Seafield in need of restructuring, the manner in which prospective bidders may gain access to or continue to have access to due diligence materials concerning Seafield, the Seafield Property, the Minera Shares, the Minera Property, and the Elora Property, the manner in which bidders and bids become Qualified Bidders and Qualified Bids, respectively, the receipt and negotiation of bids received, the ultimate selection of one or more Successful Bids and a Backup Bid (if a Backup Bid is identified in accordance with these SISP Procedures), and the approval thereof by the Court (collectively, the "Solicitation Process").
(2) The Receiver, shall conduct the Solicitation Process as outlined herein. In the event that there is a disagreement or clarification required as to the interpretation or application of these SISP Procedures, the Court will have the jurisdiction to hear such matter and provide directions, upon application of the Receiver, or any other party, with a hearing on no less than three (3) Business Days notice.
Section 2.2 Sale and Investment Opportunity
These SISP Procedures provide for (i) a sale of all or part of the Seafield Property, (ii) a sale of all or part of the Minera Property and (iii) an investment in Seafield and/or Minera, in each case structured in a manner acceptable to the Receiver.
Section 2.3 "As Is, Where Is"
Any Sale or Investment will be on an "as is, where is" basis and without surviving representations, warranties, covenants or indemnities of any kind, nature, or description by the Receiver, Seafield or Minera or any of their agents, estates, advisors, professionals or otherwise, except to the extent set forth in the relevant agreement with the Successful Bidder.
Section 2.4 Solicitation of Interest
(1) As soon as reasonably practicable after the granting of the SISP Approval Order, the Receiver, will prepare a list of potential bidders in respect of a Sale or Investment (the "Known Potential Bidders"). The Secured Creditor may on a timely basis identify any parties to the Receiver which shall be included in the list of Known Potential Bidders. Concurrently, the Receiver, will prepare an initial offering summary (the "Teaser Letter") notifying Known Potential Bidders of the existence of the Solicitation Process and inviting the Known Potential Bidders to express their interest in participating in a Sale or an Investment.
(2) Promptly after the granting of the SISP Approval Order, the Receiver shall distribute to the Known Potential Bidders the Teaser Letter and a form of confidentiality agreement satisfactory to the Receiver (a "Confidentiality Agreement"). The Receiver shall also issue a press release announcing this SISP.
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Section 2.5 Participation Requirements
(1) Unless otherwise provided for herein, ordered by the Court or agreed by the Receiver, in order to participate in the Solicitation Process and be considered for qualification as a Qualified Phase I Bidder, an interested party (a "Potential Bidder") must deliver the following:
(a) an executed Confidentiality Agreement, which shall inure to the benefit of any purchaser of any part of the Seafield Property or the Minera Property or any investor in Seafield or Minera;
(b) a specific indication of the anticipated sources of capital for such Potential Bidder and preliminary evidence of the availability of such capital, or such other form of financial disclosure and credit support or enhancement that will allow the Receiver and its legal and financial advisors, to make, in their reasonable business or professional judgment, a reasonable determination as to the Potential Bidder's fmancial and other capabilities to consummate a Sale or an Investment;
(c) a letter setting forth the identity of the Potential Bidder, the contact information for such Potential Bidder, full disclosure of the direct and indirect owners of the Potential Bidder and their principals;
(d) an indication of whether the Potential Bidder is offering to (i) acquire all or substantially all of the Seafield Property and/or the Minera Property (a "Sale Proposal"); or (ii) make an investment in Seafield and/or Minera (an "Investment Proposal"); and
(e) a written acknowledgment of receipt of a copy of the SISP Approval Order (including these SISP Procedures) and agreeing to accept and be bound by the provisions contained therein.
(2) A Potential Bidder will be deemed a "Qualified Phase 1 Bidder" if: (a) such Potential Bidder has satisfied all of the requirements described in Section 2.5(1) above; and (b) such Potential Bidder's fmancial information and credit support or enhancement demonstrate to the satisfaction of the Receiver in its reasonable business judgment, the financial capability of such Potential Bidder to consummate a transaction and that such Potential Bidder is likely (based on availability of financing, experience and other considerations) to consummate either a Sale or an Investment. Notwithstanding the requirements set out in Section 2.5(1) (a) to (e), the Receiver may designate any Potential Bidder as a Qualified Phase I Bidder. Upon executing the Confidentiality Agreement, the Secured Creditor shall be deemed to be a Qualified Phase I Bidder.
(3) The determination as to whether a Potential Bidder is a Qualified Phase 1 Bidder pursuant to Section 2.5(2) will be made as promptly as practicable but no later than five (5) Business Days after a Potential Bidder delivers all of the materials required above. If it is determined that a Potential Bidder is a Qualified Phase 1 Bidder, the Receiver will promptly notifY the Potential Bidder that it is a Qualified Phase 1 Bidder.
(4) If it is determined in accordance with Section 2.5(2) above, that there are no Qualified Phase 1 Bidders and that, as a consequence, proceeding with these SISP Procedures is not in the
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86
best interests of Seafield or its stakeholders, the Receiver shall notify the Secured Creditor forthwith, and within five (5) Business Days of such determination, file an application with the Court seeking directions with respect to the conduct of the SISP.
ARTICLE 3- DUE DILIGENCE
(1) As soon as practicable after the determination that a party is a Qualified Phase 1 Bidder, the Receiver will make available to such Qualified Phase 1 Bidder in a secure online electronic data room confidential due diligence information regarding (i) the Seafield Property and the Minera Prope1ty available for sale, and (ii) the debt and equity interests in Seafield and Minera. At the request of a Qualified Phase 1 Bidder, such confidential due diligence information shall also be provided on a confidential basis to a proposed lender of such Qualified Phase 1 Bidder that is reasonably acceptable to the Receiver.
(2) Each Qualified Phase 1 Bidder shall have such access to due diligence materials and information relating to the Seafield- Property, the Minera Property and the debt and equity interests in Seafield and Minera, as the Receiver deems appropriate.
(3) At the discretion of the Receiver due diligence access may include presentations (as may be scheduled by the Receiver), access to physical and secure online electronic data rooms, on-site inspections and such other matters as a Qualified Phase I Bidder or Qualified Phase 2 Bidder may reasonably request and as to which the Receiver, in its reasonable business judgment deems appropriate. The Receiver shall not be obligated to furnish any due diligence materials or information after the Phase 2 Bid Deadline.
(4) Without limiting the generality of any term or condition of any confidentiality agreement between the Receiver and any Potential Bidder, Qualified Phase 1 Bidder, Qualified Phase 2 Bidder, Successful Bidder or Backup Bidder, unless otherwise agreed by the Receiver or by further order of the Court, no Potential Bidder, Qualified Phase 1 Bidder, Qualified Phase 2 Bidder, Successful Bidder or Backup Bidder shall be permitted to have any discussions with any counterparty to any contract with Seafiled or Minera, any current or former director, officer or employee of Seafield or Minera, or with any regulatory authority responsible for Seafield, Minera or any of their businesses or any other Potential Bidder, Qualified Phase 1 Bidder or Qualified Phase 2 Bidder in coiDlection with a Non-Binding Indication of Interest or any other bid submitted in accordance with the terms hereof or in contemplation thereof.
(5) The Receiver is not responsible for, and will have no liability with respect to, any information obtained by any Known Potential Bidder, Potential Bidder or Qualified Bidder in coiD!ection with the Seafield Property, Minera Property, a Sale Transaction or Investment. The Receiver does not make any representations or warranties whatsoever as to the information or the materials provided, except, to the extent the information is provided under any definitive sale or investment agreement executed and delivered by a Successful Bidder or Backup Bidder.
ARTICLE 4- PHASE 1
Section 4.1 Seeking Non-Binding Indications oflnterest by Qualified Phase 1 Bidders
(1) From the date of the SISP Approval Order until the Phase 1 Bid Deadline, in accordance with the terms of the SISP Approval Order and these SISP Procedures, the Receiver will seek to
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identify and qualify Qualified Phase 1 Bidders, and will solicit non-binding indications of interest from Qualified Phase 1 Bidders to acquire all, or substantially all of the Seafield Property or the Minera Property or to invest in Seafield and/or Minera (each a "Non-Binding Indication of Interest").
(2) Subject to Section 4.3(5), in order to continue to participate in the SISP Process, a Qualified Phase 1 Bidder must deliver a Non-Binding Indication of Interest to the Receiver so as to be received by the Receiver not later than 5:00p.m. (Toronto time) on July 15, 2015, or such later date or time as the Receiver may determine appropriate (the "Phase 1 Bid Deadline").
Section 4.2 Non-Binding Indications of Interest by Qualified Phase 1 Bidders
(1) Unless otherwise ordered by the Court or agreed by the Receiver, a Non-Binding Indication of Interest will be considered a "Qualified Non-Binding Indication oflnterest" only . if it is submitted by a Qualified Phase 1 Bidder, received on or before the Phase 1 Bid Deadline, and contains the following information:
(a) An indication of whether the Qualified Phase 1 Bidder is offering to (i) make a Sale Proposal; or (ii) make an Investment Proposal;
(b) In the case of a Sale Proposal, it shall identify
i. the purchase price (including liabilities to be assumed by the Qualified Phase 1 Bidder);
n. the assets included, any of the assets expected to be excluded, and/or any additional assets desired to be included in the transaction;
iii. the structure and financing of the transaction (including, but not limited to, the sources of financing for the purchase price, preliminary evidence of the availability of such financing and the steps necessary and associated timing to obtain the financing and consummate the proposed transaction and any related contingencies, as applicable);
iv. an acknowledgement that the contemplated sale will be made on an "as is where is" basis;
v. the proposed treatment of employees ofMinera;
vi. the key material contracts and leases, if any, the Qualified Phase 1 Bidder wishes to acquire and the Qualified Phase 1 Bidder's proposed treatment of related cure costs, if any;
vii. any anticipated corporate, shareholder, internal or regulatory approvals, including without limitation any approvals with respect to the grant or transfer of any mining permits or licenses, required to close the transaction and the anticipated time frame and any anticipated impediments for obtaining such approvals;
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viii. a timeline to closing with critical milestones and a statement with respect to the Qualified Phase 1 Bidder's ability to consummate the contemplated transaction by the Target Closing Date;
ix. a detailed description of any additional due diligence required or desired to be conducted prior to the Phase 2 Bid Deadline, if any;
x. contact information for any business, financial or legal advisors retained or to be retained in connection with the contemplated transaction;
xi. a specific indication of sources of capital for the Qualified Phase 1 Bidder and preliminary evidence of the availability of such capital, or such other form of fmancial disclosure and credit-quality support or enhancement, including contact information for capital/financing sources, that will allow the Receiver to make a reasonable business judgement as to the Qualified Phase 1 Bidder's financial or other· capabilities to consummate the contemplated transaction;
xii. any conditions to closing that the Qualified Phase 1 Bidder may wish to impose; and
xiii. any other terms or conditions of the Sale Proposal which the Qualified Phase 1 Bidder believes are material to the transaction;
(c) In the case of an Investment Proposal, it shall identify:
(i) the aggregate amount of the equity and debt investment (including, the sources of such capital, preliminary evidence of the availability of such capital and the steps necessary and associated timing to obtain the capital and consummate the proposed transaction and any related contingencies, as applicable) to be made in Seafield or Minera;
(ii) the underlying assumptions regarding the pro forma capital structure (including, the anticipated debt levels, debt service fees, interest and amortization);
(iii) the consideration to be allocated to the stakeholders including claims of any secured or unsecured creditors of Seafield and Minera and the proposed treatment of employees;
(iv) the structure and fmancing of the transaction including all requisite financial assurance including a specific indication of sources of capital for the Qualified Phase 1 Bidder and preliminary evidence of the availability of such capital, or such other form of financial disclosure and credit-quality support or enhancement, including contact information for capital/financing sources, that will allow the Receiver to make a reasonable business judgement as to the Qualified Phase 1 Bidder's financial or other capabilities to consummate the contemplated transaction;
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(v) any anticipated corporate, shareholder, internal or regulatory approvals, including without limitation any approvals with respect to the grant or transfer of any mining permits or licenses, required to close the transaction, the anticipated time frame and any anticipated impediments for obtaining such approvals;
(vi) the proposed corporate goverance structure of the entity or entities owning/operating ·the business, following implementation of the investment
(vii) contact information for any business, fmancial or legal advisors retained or to be retained in connection with the contemplated transaction;
(viii) additional due diligence required or desired to be conducted prior to the Phase 2 Bid Deadline, if any;
(ix) a timeline to closing with critical milestones and a statement with respect to the Qualified Phase 1 Bidder's ability to consummate the contemplated transaction by the Target Closing Date;
(x) to the extent not addressed elsewhere, the proposed treatment of stakeholders, including lenders, trade creditors, shareholders and employees;
(xi) any conditions to closing that the Qualified Phase 1 Bidder may wish to impose;
(xii) any other terms or conditions of the Investment Proposal which the Qualified Phase 1 Bidder believes are material to the transaction; and
(d) Such other infom1ation reasonably requested by the Receiver,
(2) The Receiver may waive compliance with any one or more of the requirements specified herein and deem any non-compliant Non-Binding Indication of Interest to be a Qualified Non-Binding Indication of Interest.
Section 4.3 Assessment of Qualified Non-Binding Indications of Interest and Determination of Qualified Phase 2 Bidders
(1) Subject to Section 4.3(7) and Section 5.7, the Receiver will provide copies of any Qualified Non-Binding Indications of Interest received to the Secured Creditor.
(2) The Receiver will assess any Qualified Non-Binding Indications of Interest received, and will determine whether proceeding with these SISP Procedures on the basis of such Qualified Non-Binding Indications ofinterest is in the best interests of Seafield and its stakeholders. Such assessment will be made as promptly as practicable after the Phase I Bid Deadline.
(3) If the Receiver, in accordance with Section 4.2 above, determines that no Qualified Non-Binding Indication of Interest was received, the Receiver shall advise the Secured Creditor
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forthwith, and within five (5) Business Days of the Phase 1 Bid Deadline, file an application with the Court seeking directions.
( 4) If the Receiver, in accordance with Section 4.2 above, determines that (i) one or more Qualified Non-Binding Indications oflnterest were received, and (ii) proceeding with these SISP Procedures is in the best interests of Seafield and its stakeholders, these SISP Procedures will continue and each Qualified Phase 1 Bidder who has submitted a Qualified Non-Binding Indication of Interest that is determined by the Receiver on consideration of the information delivered at Section 4.2(1), likely be consummated, shall be deemed to be a "Qualified Phase 2 Bidder". Subject to the restrictions set out in Section 5.7, the Receiver shall provide advance wxitten notice of the commencement of Phase 2 and the names of the Qualified Phase 2 Bidders to the Secured Creditor.
(5) Notwithstanding any other provision in these SISP Procedures, the Secured Creditor shall, subject to executing the Confidentiality Agreement, be deemed to be a Qualified Phase 2 Bidder even if it did not submit a Non-Binding Indication of Interest. Subject to the restrictions and limitations set out in Section 4.3(7) and Section 5.7, the Secured Creditor shall be permitted to submit a Qualified Purchase Bid or Qualified Investment Bid, provided that the Secured Creditor declares its intention to do so within 5 business days of the commencement of Phase 2 by delivering written notice thereof to the Receiver (the "Bid Notice"). The Bid Notice shall contain the amount of the Secured Creditor's bid together with a summary of all material terms of the bid. The Secured Creditor shall not be entitled to increase the amount of its bid following delivery of the Bid Notice. The Receiver shall forthwith provide a copy of the Secured· Creditor's Bid Notice to all Qualified Phase 1 Bidders.
( 6) If the Secured Creditor does not submit a Bid Notice within 5 business days of the commencement of Phase 2 then the Secured Creditor will not be permitted to submit any bid thereafter, save and except for in the circumstances describe!l in Section 5.5(2).
(7) Notwithstanding any other provision of this SISP, to the extent that the Secured Creditor or any employee, officer, director or partner of the Secured Creditor or any of its affiliates, at any time received copies of any Qualified Non-Binding Indication of Interest or information regarding the proposed consideration to be paid by the bidder in such a Qualified Non-Binding Indication of Interest, the Secured Creditor shall not be permitted to submit any bid that provides for consideration that exceeds the amount of the Secured Claims Amount.
ARTICLE 5- PHASE 2
Section 5.1 Seeking Qualified Bids by Qualified Phase 2 Bidders
In order to continue to participate in the Solicitation Process, a Qualified Phase 2 Bidder must deliver a Qualified Purchase Bid or Qualified Investment Bid to the Receiver and such bids must be received by the Receiver by no later than 5:00p.m. (Toronto time) on August 19, 2015, or such later date or time as the Receiver may determine appropriate (the "Phase 2 Bid Deadline").
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Section 5.2 Qualified Purchase Bids
A Sale Proposal submitted by a Qualified Phase 2 Bidder will be considered a "Qualified Purchase Bid" only if the Sale Proposal complies with all of the following:
(a) it includes a letter stating that the Sale Proposal is irrevocable until the earlier of (a) the approval by the Court of a Successful Bid, and (b) 45 Business Days following the Phase 2 Bid Deadline; provided, however. that if such Sale Proposal is selected as the Successful Bid or the Backup Bid, it shall remain irrevocable until the closing of the Successful Bid or the Backup Bid, as the case may be;
(b) it includes a duly authorized and executed purchase and sale agreement substantially in the Form of Purchase Agreement specifying the purchase price, expressed in Canadian dollars (the "Purchase Price"), together with all exhibits and schedules thereto, and such ancillary agreements as may be required by the Qualified Phase 2 Bidder with all exhibits and schedules thereto (or term sheets that describe the material tenus and provisions of such ancillary agreements) and such ancillary agreements and the proposed orders to approve the sale by the Court, as well as copies of such materials marked to show the amendments and modifications to the Form of Purchase Agreement;
(c) it does not include any request or entitlement to any break-fee, expense reimbursement or similar type of payment. Further, by submitting a Sale Proposal, a Qualified Phase 2 Bidder shall be deemed to waive its right to pursue a substantial contribution claim in any way related to the submissions of its Sale Proposal or these SISP Procedures;
(d) it includes evidence sufficient to allow the Receiver to make a reasonable determination as to the bidder's (and its direct and indirect owners' and their principals') financial and other capabilities to consummate the transaction contemplated by the Sale Proposal, which evidence could include but is not limited to evidence of a firm, irrevocable commitment for all required funding and/or financing from a creditworthy bank or financial institution;
(e) it is not conditioned on (i) the outcome of unperformed due diligence by the bidder and/or (ii) obtaining any financing capital and includes an acknowledgement and representation that the bidder has had an opportunity to conduct any and all required due diligence prior to making its Sale Proposal;
(f) it fully discloses the identity of each entity that is bidding or otherwise that will be sponsoring or participating in the Sale Proposal, including the identification of the Qualified Phase 2 Bidder's direct and indirect owners and their principals, and the complete terms of any such participation;
(g) it includes an acknowledgement and representation that the Qualified Phase 2 Bidder: (i) has relied solely upon its own independent review, investigation and/or inspection of any documents and/or the assets to be acquired and liabilities to be assumed in making its Sale Proposal; (ii) did not rely upon any written or oral statements, representations, promises, warranties or guaranties whatsoever,
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whether express or implied (by operation of law or otherwise), regarding the assets to be acquired or liabilities to be assumed or the completeness of any information provided in connection therewith, including by the Receiver, or any of its advisors, except as expressly stated in the purchase and sale agreement submitted by it; (iii) is a sophisticated party capable of making its own assessments in respect of making its Sale Proposal; and (iv) has had the benefit of independent legal advice in connection with its Sale Proposal;
(h) it includes evidence, in form and substance reasonably satisfactory to the Receiver, of authorization and approval from the Qualified Phase 2 Bidder's board of directors (or comparable governing body) with respect to the submission, execution, delivery and closing of the transaction contemplated by the Sale Proposal;
(i) it is accompanied by a refundable deposit (the "Deposit") in the form of a wire transfer (to a trust account specified by the Receiver), or such other form acceptable to the Receiver, payable to the order of KPMG Inc., in trust, in an amount equal to 5% of the proposed gross purchase price, to be held and dealt with in accordance with these SISP Procedures;
G) it contains full details of the proposed number of employees of Minera who will become employees of the Qualified Phase 2 Bidder and the proposed terms and conditions of employment to be offered to those employees;
(k) it includes an acknowledgement and representation that the Qualified Phase 2 Bidder will assume the obligations of Seafield or Minera under executory contracts, unexpired leases, and licences proposed to be assigned (or identifies with particularity which of such contracts, leases,· and licenses of Seafield or Minera, as applicable, that the Qualified Phase 2 Bidder wishes not to assume, or alternatively wishes to assume), contains full details of the Qualified Phase 2 Bidder's proposal for the treatment of related cure costs; and which of these the assumption of which is a condition of closing;
(!) it provides for closing of the Qualified Purchase Bid by no later than the Target Closing Date;
(m) if the Qualified Phase 2 Bidder is an entity newly formed for the purpose of the transaction, the bid shall contain an equity or debt commitment letter from the parent entity or sponsor, which is satisfactory to the Receiver, that names the Receiver as a third party beneficiary of any such commitment letter with recourse against such parent entity or sponsor;
(n) it includes evidence, in form and substance reasonably satisfactory to the Receiver, of compliance or anticipated compliance with any and all applicable Canadian, Colombian and any foreign regulatory approvals (including, if applicable, anti-trust regulatory approval and any approvals with respect to the grant or transfer of any mining permits or licenses), the anticipated time frame for such compliance and any anticipated impediments for obtaining such approvals;
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( o) it contains other information reasonably requested by the Receiver; and
(p) it is received by no later than the Phase 2 Bid Deadline.
Section 5.3 Qualified Investment Bids
An Investment Proposal submitted by a Qualified Phase 2 Bidder will be considered a "Qualified Investment Bid" only if the Investment Proposal complies with all of the following:
(a) it includes duly authorized and executed binding definitive documentation setting out the terms and conditions of the proposed transaction, including the aggregate amount of the proposed equity and/or debt investment and details regarding the proposed equity and/or debt structure of Seafield and/or Minera, if applicable, following completion of the proposed transaction (a "Definitive Investment Agreement");
(b) it includes a letter stating that the Investment Proposal is irrevocable until the earlier of (a) approval by the Court of a Successful Bid, and (b) 45 Business Days following the Phase 2 Bid Deadline; provided, however, that if such Investment Proposal is selected as the Successful Bid or Backup Bid, it shall remain irrevocable until the earlier of (i) the closing of the Successful Bid or the Backup Bid, as the case may be, and (ii) the outside date stipulated in the Successful Bid or the Backup Bid, as applicable;
(c) it does not include any request or entitlement to any break-fee, expense reimbursement or similar type of payment. Further, by submitting an Investment Proposal, the Qualified Phase 2 Bidder shall be deemed to waive its right to pursue a substantial contribution claim in any way related to the submission of its Investment Proposal or these SISP Procedures;
(d) it includes written evidence of a firm, irrevocable commitment for all required funding and/or financing from a creditworthy bank or financial institution to consummate the proposed transaction, or other evidence satisfactory to the Receiver, to allow the Receiver to make a reasonable determination as to the Qualified Phase 2 Bidder's financial and other capabilities to consummate the transaction contemplated by the Investment Proposal;
(e) it is not conditioned on (i) the outcome of unperformed due diligence by the Qualified Phase 2 Bidder and/or (ii) obtaining any financing capital and includes an acknowledgement and representation that the Qualified Phase 2 Bidder has had an opportunity to conduct any and all required due diligence prior to making its bid;
(f) it fully discloses the identity of each entity that is bidding or otherwise that will be sponsoring or participating in the Investment Proposal, including the identification of the Qualified Phase 2 Bidder's direct and indirect owners and their principals, and the complete terms of any such participation;
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(g)
(b)
(i)
(k)
(l)
(m)
(n)
it includes an acknowledgement and representation that the Qualified Phase 2 Bidder: (i) has relied solely upon its own independent review, investigation and/or inspection of any documents in making its Investment Proposal; (ii) did not rely upon any written or oral statements, representations, promises, warranties or guaranties whatsoever, whether express or implied (by operation of law or otherwise), regarding the business of Seafield or Minera, or the completeness of any information provided in connection therewith, including by the Receiver or any of its advisors, except as expressly stated in the Definitive Investment Agreement; (iii) is a sophisticated party capable of making its own assessments in respect of making its Investment Proposal; and (iv) has had the benefit of independent legal advice in connection with its Investment Proposal;
it includes evidence, in form and substance reasonably satisfactory to the Receiver, of authorization and approval from the Qualified Phase 2 Bidder's board of directors (or comparable governing body) with respect to the submission, execution, delivery and closing of the transaction contemplated by the Investment Proposal;
it is accompanied by a Deposit in the form of a wire transfer (to a trust account specified by the Receiver), or such other form acceptable to the Receiver, payable to the order of KPMG Inc., in trust, in an amount equal to 5% of the total proposed investment, to be held and dealt with in accordance with these SISP Procedures;
it provides for closing of the Qualified Investment Bid by no later than.theTarget Closing Date;
if the Qualified Phase 2 Bidder is an entity newly formed for the purpose of the transaction, the Investment Proposal shall contain an equity or debt commitment letter from the parent entity or sponsor, and satisfactory to the Receiver, that names the Receiver as a third party beneficiary of any such commitment letter with recourse against such parent entity or sponsor;
it includes evidence, in form and substance reasonably satisfactory to the Receiver, of compliance or anticipated compliance with any and all applicable Canadian, Colombian, and foreign regulatory approvals (including, if applicable, anti-trust regulatory approval), the anticipated time frame for such compliance and any anticipated impediments for obtaining such approvals;
it contains other information reasonably requested by the Receiver; and
it is received by no later than the Phase 2 Bid Deadline.
Section 5.4 Qualified Bids
(1) Qualified Purchase Bids and Qualified Investment Bids shall hereinafter be referred to as "Qualified Bids" and each a "Qualified Bid" and each bidder who has submitted a Qualified Bid shall hereinafter be referred to as a "Qualified Bidder".
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(2) Notwithstanding Section 5.2 and Section 5.3 hereof, the Receiver may waive compliance with any one or more of the Qualified Bid requirements specified herein, and deem such non-compliant bids to be Qualified Purchase Bids or Qualified Investment Bids, as the case may be.
Section 5.5 No Qualified Bids
(1) The Receiver will assess the Qualified Bids received, if any, and will determine whether it is likely that the transactions contemplated by such Qualified Bids are likely to be consummated and whether proceeding with these SISP Procedures is in the best interests of Seafield and its stakeholders. Such assessments will be made as promptly as practicable but no later than five (5) Business Days after the Phase 2 Bid Deadline, provided that such time period may be extended upon the consent of the Receiver or order of the Court. upon application and appropriate notice.
(2) If the Receiver, in accordance with Section 5.5(1) above, determines that (a) no Qualified Bid was received, or (b) at least one Qualified Bid was received but it is not likely that the transactions contemplated in any such Qualified Bids will be consummated, the Receiver shall notify the Secured Creditor forthwith, and within ten (1 0) Business Days of such determination, file an application with the Court seeking directions. In the circumstances described in this subsection, the Secured Creditor shall have the option within five (5) business days from such determination to submit a credit bid (that would constitute a binding agreement if accepted) even. if they did not submit a credit bid at any other point during Phase 1 or Phase 2, and notwithstanding the receipt of any new information regarding bids or offers after the commencement of Phase 2.
Section 5.6 Selection Criteria
(1) In selecting the Successful Bid, the Receiver will review each Qualified Bid. Evaluation criteria with respect to a Sale Proposal may include, but are not limited to items such as: (a) the purchase price and the net value (including assumed liabilities and other obligations to be performed or assumed by the bidder) provided by such bid; (b) the claims likely to be created by such bid in relation to other bids; (c) the counterparties to the transaction; (d) the proposed revisions to the Form of Purchase Agreement and the terms of the transaction documents; (e) other factors affecting the speed, certainty and value of the transaction (including any regulatory approvals required to close the transaction); (f) the assets included or excluded from the bid and the transaction costs and risks associated with closing multiple transactions versus a single transaction for all or substantially all of the Seafield Property and/or the Minera Property; (g) the estimated number of employees of Minera that will be offered post closing employment by the bidder and any proposed measures associated with their continued employment; (h) the transition services required from Seafield or Minera post-closing and any related restructuring costs; and (i) the likelihood and timing of consummating the transaction by the Target Closing Date.
(2) Evaluation criteria with respect to an Investment Proposal may include, but are not limited to items such as: (a) the amount of equity and debt investment and the proposed sources and uses of such capital; (b) the debt to equity structure post-closing; (c) the counterparties to the transaction; (d) the terms of the transaction documents; (e) other factors affecting the speed, certainty and value of the transaction; (f) planned treatment of stakeholders; and (g) the likelihood and timing of consummating the transaction by the Target Closing Date ..
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(3) The Receiver may select Qualified Bids for further negotiation and/or clarification of any terms or conditions of such Qualified Bids, including the amounts offered, before identifying the highest or otherwise best Qualified Bid(s) received (the "Successful Bid").
( 4) Upon completion of any further negotiations or clarifications that may be conducted pursuant to Section 5 .4(3) above, the Receiver will identify the Successful Bid and may identify a next highest or otherwise best Qualified Bid received (such offer, the "Backup Bid"). The Qualified Bidders(s) who made the Successful Bid is/are the "Successful Bidder" and the Qualified Bidder(s) who made the Backup Bid (if a Backup Bid is identified in accordance with these SISP Procedures) is/are .the "Backup Bidder'} The Receiver will notify the Successful Bidder and any Backup Bidder that they are, respectively, the Successful Bidder and the Backup Bidder.
(5) The Receiver will finalize definitive agreements in respect of the Successful Bid and the Backup Bid (if a Backup Bid is identified in accordance with these SISP Procedures), if any, conditional upon approval by the Court.
(6) If a Backup Bid is identified in accordance with these SISP Procedures, then such Backup Bid shall remain open· until the consummation of the transaction contemplated by the Successful Bid (the "Backup Bid Expiration Date").
(7) All Qualified Bids (other than the Successful Bid and any Backup Bid identified in accordance with these SISP Procedures) shall be deemed rejected by the Receiver on and as of the date of approval of the Successful Bid or any Backup Bid by the Court.
Section 5. 7 Secured Creditor Consultation and Consent
(!) For the purposes of the Solicitation Process and these SISP Procedures, and notwithstanding any other provision in these SISP Procedures, any requirement for the Receiver to: (a) consult with the Secured Creditor, and (b) provide copies of any expressions of interest, bids or other offers submitted in connection with the Solicitation Process or these SISP Procedures (collectively, the "Creditor Consultation Rights") shall all be subject to the terms, conditions and limitations contained in this Section 5.7.
(2) Subject to subsection 5. 7(3), the Creditor Consultation Rights shall be suspended for the period commencing on the earlier of (x) the date that a Non-Binding Indication of Interest Qualified Purchase Bid, Qualified Investment Bid (including any credit bid) is actually s · a:>r ..JIU.J by the Secured Creditor (y) the date that a Bid Notice is issued by the Secured Cr ditor as e.w-.,.~..u. required by Section 4.3(5); provided, however, such Creditor Consultation Rights shal resume <>-/ ,t.cl on the date when the Non-Binding Indication of Interest, Qualified Purchase Bid or ualified Cj.I).JAI Investment Bid, as applicable, submitted by the Secured Creditor has been rejected dis no Gr~ longer being considered by the Receiver, as evidenced by written notice to the Secur Creditor ot from the Receiver. For greater certainty, during any period of time during which e Secured Creditor's Creditor Consultation Rights are suspended, no officer, directol)er partner er any of its affiliates shall be entitled to receive any information contemplated under the Credito~(~ Consultation Rights, unless and until the Receiver has selected a Successful Bid. 1
(3) The suspension of Creditor Consultation Rights pursuant to Section 5.7(2) will not apply in the case of an Indication of Interest, Qualified Purchase Bid or Qualified Investment Bid that
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is submitted by the Secured Creditor which (a) is a credit bid that involves consideration (excluding assumed obligations) that does not exceed the Secured Claims Amount as determined by the Receiver, and (b) is delivered with a binding covenant and undertaking by the Secured Creditor in favour of the Receiver covenanting and undertaking that no change shall be made to the economic terms of the offer or bid from and after the date of its submission and the key terms of such bid are disclosed to other interested parties.
( 4) For the purposes of the Solicitation Process and these SISP Procedures, prior to obtaining any Creditor Consultation Rights the Secured Creditor shall be required to execute a confidentiality agreement with the Receiver.
(5) The Receiver will not provide to the Secured Creditor any new information regarding bids obtained from the commencement of Phase 2 until the expiry of the period to submit a Bid Notice.
Section 5.8 Approval Hearing
(1) After definitive agreements in respect of a Successful Bid and Backup Bid (if a Backup Bid is identified in accordance with these SISP Procedures) have been finalized, in the case of the Successful Bid, signed (conditional on court approval) and, in the case of the Backup Bid signed (conditional on non-completion of the Successful Bid and on court approval) in accordance with these SISP Procedures, Seafield shall seek a hearing as soon as practicable on a date to be scheduled by the Court that will permit not less than 2 full business Days' notice to the service list (the "Approval Hearing") to approve the Successful Bid or to approve Seafield causing Minera to enter into an agreement with respect to the Successful Bid and to enter into an agreement with respect to the Backup Bid. The Approval Hearing may be adjourned or rescheduled by the Receiver, without further notice, by an announcement of the adjourned date at the Approval Hearing.
(2) If, following approval of the Successful Bid transaction by the Court, the Successful Bidder fails to consummate the transaction for any reason, then the Backup Bid, if there is one, will be deemed to be the Successful Bid hereunder and the Receiver shall effectuate a transaction with the Backup Bidder subject to the terms of the Backup Bid, without further order of the Court.
Section 5.9 Deposits
(1) All Deposits shall be retained by the Receiver and invested in an interest bearing trust account in a Schedule I Bank in Canada. If there is a Successful Bid, the Deposit (plus accrued interest) paid by the Successful Bidder whose bid is approved pursuant to the Approval Hearing shall be applied to the purchase price to be paid or investment amount to be made by the Successful Bidder upon closing of the Successful Bid. The Deposit (plus accrued interest) paid by the Backup Bidder, if there is one, shall be retained by the Receiver until the Backup Bid Expiration Date or, if the Backup Bid becomes the Successful Bid, shall be applied to the purchase price to be paid or investment amount to be made by the Backup Bidder upon closing of the Backup Bid. The Deposits (plus applicable interest) of all Phase 2 Bidders not selected as the Successful Bidder or Backup Bidder shall be returned to such bidders without interest within five (5) Business Days of the later of the date upon which the Successful Bid and any Backup Bid are approved by the Court. If these SISP Procedures are terminated in accordance with the
- 17 SALE AND INVESTOR SOLICIT AT! ON
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provisions hereof, all Deposits shall be returned to the bidders without interest within five (5) Business Days of the date upon which these SISP Procedures are terminated.
(2) If an entity selected as the Successful Bidder or Backup Bidder breaches its obligations to close, it shall forfeit its Deposit to the Receiver; provided. however, that the forfeiture of such Deposit shall be in addition to, and not in lieu of, any other rights in law or equity that the Receiver has or may have against such breaching entity.
Section 5.10 Approvals
For greater certainty, the approvals required pursuant to the terms hereof are in addition to, and not in substitution for, any other approvals required by any Canadian; Colombian, or other foreign statute or are otherwise required at law in order to implement a Successful Bid or Backup Bid, as the case may be.
Section 5.11 Notice to the Receiver
Any notice or other communication to be given to the Receiver in connection with this SISP shall be given in writing and shall be given by personal delivery (in which case it shall be left with a responsible officer of the recipient) or by electronic communication addressed to the Receiver as follows:
KPMGinc. 333 Bay Street- Suite 4600 Toronto, ON M5H 285 Attention: Phil Reynolds and Ryan Adlington Telephone No.: 416-777-8500 Facsimile No.: 416-777-3364 Email: [email protected]
with a copy to:
McMillan LLP Brookfield Place, Suite 4400 181 Bay Street Toronto, ON M5J 2T3 Attention: Wae1 M. Rostom and Jennifer Cockbill Telephone No.: 416.865.7790 Facsimile No.: 416.865.7048 Email: [email protected]
Section 5.12 Reservation of Rights
(1) The Receiver (a) reject, at any time any bid that is (i) inadequate or insufficient, (ii) not in conformity with the requirements of these SISP Procedures or any orders of the Court applicable to Seafield, or (iii) contrary to the best interests of Seafield, its estate, and stakeholders as determined by the Receiver; (b) in accordance with the terms hereof accept bids not in
- 18 SALE AND INVESTOR SOLICITATION
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conformity with these SISP Procedures to the extent that the Receiver determines, in its reasonable business judgment, that doing so would benefit Seafield, its estate, and stakeholders; and (c) in accordance with the terms hereof extend the Potential Bidder Deadline, Phase 1 Bid Deadline or Phase 2 Bid Deadline; and (d) reject all bids. The Receiver shall not be required to accept the highest bid, but shall be entitled to recommend to the Court a transaction that in its view maximizes value for all stakeholders.
(2) These SISP Procedures do not, and shall not be interpreted to, create any contractual or other legal relationship between the Receiver on the one hand and any Known Potential Bidder, Potential Bidder, Qualified Potential Bidder, Qualified Phase 1 Bidder, Qualified Phase 2 Bidder, Qualified Bidder, Successful Bidder or Backup Bidder, on the other hand, except as specifically set forth in definitive agreements that may be executed by the Receiver.
(3) Subject to the restrictions and limitations set out in Section 5.7, the Receiver will consult with the Secured Creditor.
Section 5.13 Further Orders
At any time during the SISP, the Receiver may apply to the Court for directions with respect to the discharge of its powers and duties hereunder.
Section 5.14 Credit Bid
These SISP Procedures permit the Secured Creditors to submit a credit bid, provided such credit bid is in accordance with the terms and conditions of these SISP Procedures and in accordance with applicable law.
- 19 SALE AND INVESTOR SOLICIT AT! ON
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AppendixD
Form 21 Assignment for the General Benefit of Creditors of Seafield Resources Ltd.
Page 14
102
District of: Division No. Court No. Estate No.
Ontario 09- Toronto
0 Natural person
-- FORM21-Assignment for the General Benefit of Creditors
(Section 49 of the Act)
In the Matter of the Bankruptcy of Seafield Resources Ltd.
· of the City ofT oronto, in the Province of Ontario
This indenture made this 24th day of August 2015 between
Seafield Resources Ltd. 36 Toronto Street, Suite 1000
Toronto ON M5C 2C5 hereinafter called "the debtor"
and KPMG Inc.
hereinafter called 'the trustee."
1RJ Corporate or other legal entity
Whereas the debtor is insolvent and desires to assign and to abandon all his/her property for distribution among his/her creditors, in pursuance of the Act,
This indenture witnesses that the debtor does hereby assign to the trustee all the debtor's property for the uses, intents and puqYoses provided by the Act.
Signed at the City of Hamilton in the Province of Ontario, in the presence of Asya Rzhevsky.
24-Aug-2015 Date
Page 1 of 1
103
Appendix E
Updated Chronology of Events in Colombia
Page [5
104
Chronology of Events in Colombia
E.l Activity of the Former Board prior to the Receiver's Appointment
E.l.l Up until August 30,2014 the former directors ofMinera (the "Former Board") consisted of the following individuals:
(a) Prins, Director;
(b) Ashton, Director;
(c) Giovanny Ortiz ("Ortiz"), Director and CEO
(d) Catalina Cadena ("Cadena"), Director and Deputy CEO;
(e) Cesar Lopez ("Lopez"), Director; and
(f) Juan Villarzu ("Villarzu"), Director
E.1.2 On August 30, 2014, after making a demand and sending the BIA Notice, RMB (pursuant to a
share pledge agreement to secure the funds advanced under the Facility Agreement) held a
meeting ofMinera's shareholders where the following decisions were approved:
(a) The Former Board was removed; and
(b) The following individuals were appointed as the Board of Directors of Minera (the
"New Board"):
Principal' Alternate
Richard Winters John Forwood
.
Alvaro Belevan James Bennett
Arnold Vogel Daniel Jimenez Pastor
1 As described below, the New Board was re-elected on November I I, 2014, at which time Arnold Vogel was replaced by Richard Seledon and Daniel Jimenez Pastor's position as an Alternate Board member was made vacant.
105
E.1.3 Minutes of the August 30, 2014 shareholders' meeting were registered with the Chamber of
Commerce of Medellin Colombia on September 2, 2014.
E.1.4 On September 2, 2014, Mr. Prins, acting as principal member of the Former Board, filed a request
for reconsideration and appeal with the Chamber of Commerce of Medellin to revoke the
registration of his removal and the appointment of the New Board.
E.l.S Also on September 2, 2014, Ms. Cadena, acting as member of the Former Board and as de facto
agent of Mr. Lopez, Mr. Villarzu and Ms. Ashton, filed a request for reconsideration and appeal
with the Chamber of Commerce of Medellin, to revoke the registration of the removal of the
Fonner Board and the appointment of the New Board.
E.1.6 By way of context, under the Colombian Law, the Chamber of Commerce administers
companies' registrations in its jurisdiction, and therefore all major corporate events including
incorporation, liquidation, amendments to bylaws or corporate registrations and appointment of
officers and directors must be filed with the Chamber of Commerce for purposes of public
disclosure and enforceability.
E.l.7 On September 3, 2014, the New Board held a meeting, in which it was decided to remove Mr.
Ortiz and Ms. Cadena as CEO and Deputy CEO, respectively, and to appoint Mr. Alvaro
Belevan, a representative of RMB, as the new legal representative for the company. A copy of
this decision was filed with the Office of the Superintendent of Companies (the "SOC") on
September 3, 2014.
E.1.8 On September 4, 2014, certain members of the Former Board filed a petition with the SOC,
requesting that Minera be admitted to an insolvency proceeding pursuant to Colombian law 1116
of2006 (the "Insolvency Petition").
E.1.9 By way of context, under Colombian Law, the SOC is (i) the governmental authority responsible
for overseeing the conduct and corporate affairs of Colombian companies, and (ii) the authority
with judicial powers over insolvency proceedings.
106
E.l.lO On September 5, 2014, the New Board held a further meeting, in which the following actions
were approved:
(a) The New Board approved a resolution to withdraw the Insolvency Petition; and,
(b) The New Board would take steps to notifY the Superintendent that a third party
(RMB) would be willing to fund the operation of Minera, to ensure its continuance.
E.l.ll The minutes of the September 5, 2014 meeting of the New Board were filed with the SOC on
September 5, 2014.
E.l.l2 On September 9, 2014, Mr. Alvaro Belevan, acting as legal representative of Minera, filed a
petition with the SOC requesting the dismissal of the Insolvency Petition.
E.2 Activities in Colombia since the Receiver's Appointment
E.2.1 Pursuant to the Receivership Order, the Receiver was vested with the authority to represent
Seafield, the sole shareholder ofMinera; including the power to remove and replace the directors
ofMinera.
E.2.2 On September II, 2014, Mr. Andres Velasquez Giraldo ("Velasquez"), legal advisor to the
Former Board, communicated to the Receiver that Minera would not recognize the Receiver as
representative of Seafield.
E.2.3 On September 16, 2014, Velasquez, acting on behalf of the Former Board, filed a petition for
reconsideration and appeal with the Chamber of Commerce of Medellin, requesting the
revocation of the registration of the removal of the Former Board and the appointment of the New
Board (the "Former Board Petition").
E.2.4 On September 16, 2014, Colombian Counsel delivered a letter to the Former Board advising that
the Receiver was vested with the power to exercise Seafield's rights as the sole shareholder of
Minera, and refuting all arguments of the Former Board regarding the Receiver's alleged lack of
107
authority. A translated copy of the Receivership Order was provided to the Former Board along
with that letter.
E.2.5 On September 17, 2014, the Receiver, acting on the advice of Colombian Counsel, held a meeting
ofMinera's shareholders in which the following decisions were ratified:
(a) The removal of the Former Board and the appointment of the New Board;
(b) The decision of the New Board to remove the former legal representative and its
alternates and to appoint a new legal representative;
(c) The decision of the New Board to withdraw the Insolvency Petition.
E.2.6 The above decisions were communicated to the SOC along with a request that the Insolvency
Petition be dismissed.
E.2.7 On September 19,2014, acting on the advice of Colombian Counsel, the Receiver filed a petition
with the Superintendent requesting that Minera be put under control of the SOC (the "Control
Measure") as a consequence of the governance disputes that Minera was facing. The purpose of
the Control Measure was to have the SOC investigate the actions of the Former Board and ratifY
its removal in order to resolve the governance disputes, and ultimately, recognize the control of
Minera by the Receiver.
E.2.8 On September 30, 2014, the Receiver along with McMillan and Colombian Counsel, met in
Colombia with the members of the Fonner Board. The parties initiated negotiations with a view
to attempting to consensually resolve all open issues. It was agreed that parties would seek
suspension of all proceedings for a I 0-day period to attempt a settlement while RMB provided
funding to Minera for its reasonable operating expenses during that period.
E.2.9 On October 8, 2014, the Chamber of Commerce of Medellin dismissed the Former Board
Petition.
108
E.2.10 On October 12, 2014, Mssrs. Prins and Ortiz, who ":ere patt of the Former Board of Minera,
informed the Receiver and Seafield of the existence of alleged amendments to their labour
agreements (the "Labour Agreement Amendments") giving them significant claims for
compensation against Minera. The Receiver learned that these amendments to the labour
contracts were made at or about the time that Seafield was encountering significant cash flow
problems and was in default under the RMB Facility Agreement. As a consequence of learning
of this information, the Receiver terminated further negotiations with the Former Board and filed
a writ on behalf of Seafield reiterating its petition to submit Minera to the Control Measure.
E.2.11 For a period of time after the Receiver requested that Minera be put under the Control Measure,
Mr. Velasquez, purporting to be a legal advisor of Min era, continued to take certain steps and file
various documents in furtherance of the Fonner Board's Petition and the Insolvency Petition.
E.2.12 In the mean time, the Receiver, on the advice of Colombian Counsel, took various steps and filed
certain documents with the Colombian authorities to oppose the Insolvency Petition and to have
the authority of the New Board recognized by the Former Board, who continued to purport to
occupy management roles notwithstanding the steps taken to remove them.
E.2.13 On October 29, 2014, Mr. Velasquez, purporting to be the legal advisor of the Former Board,
filed a petition with the Superintendent of Industry and Trade against the registration of the
decisions adopted by the shareholders assembly in the meeting held on August 30, 20 I 4 (the
"SIC Petition").
E.2.14 On October 30, 2014, Mr. Velasquez, acting on behalf of the Former Board, made an offer to the
Receiver in order to resolve the governance disputes over Minera: the Former Board would drop
the Former Board Petition and leave control of Minera to the Receiver provided that the
registration of the minutes of the shareholders' meeting of Minera held on August 30, 2014,
would be withdrawn. The offer was accepted by the Receiver.
109
E.2.15 On November II, 2014, a meeting of the shareholders of Minera was held, definitively
dismissing the Former Board of Minera. A new board of Minera was re-elected and registered
with changes as described in paragraph E.l.2 above.
E.2.16 On November 12, 2014, the SOC imposed the Control Measure on Minera and initiated
proceedings against certain members of the Former Board.
E.2.17 On November 28, 2014, the SOC dismissed the Insolvency Petition pursuant to the agreement
reached with the Former Board on October 30, 2014. Mr. Velasquez, on behalf of the Former
Board, also requested a formal withdrawal of the Former Board Petition and the SIC Petition.
E.2.18 On February 12, 2015, a shareholders' meeting of Minera was held to appoint Ms. Cadena as
legal representative and Mr. Belevan as her alternate.
E.2.19 On February 16, 2015, a petition was filed on behalf of Seafield with the SOC to terminate the
Control Measure, however, it required certain amendments to the corporate registration of
Minera, including evidence of the tennination of the Former Board Petition and the SIC Petition.
The required amendments were completed by Colombian Counsel and communicated to the SOC
onApril8, 2015.
E.2.20 On March 26, 2015, Minera and Ortiz entered into (i) an agreement to terminate Ortiz's labour
agreement, waiving any and all of its rights, and (ii) a services agreement.
E.2.21 On March 27, 2015, the ordinary shareholders' meeting ofMinera was held to approve Minera's
financial statements and management report for 2014.
E.2.22 On March 31, 2105, Mr. Alvaro Belevan resigned as deputy CEO ofMinera.
E.2.23 As requested by the SOC, on April6, 2015, Minera filed with the SOC a copy of the minutes of
the March 27, 2015 shareholders' meeting.
E.2.24 On May 7, 2015, Cadena delivered a letter to the Receiver, explaining her actions during 2014.
E.2.25 On May 8, 2015, Ortiz delivered a letter to the Receiver, explaining his actions during 2014.
110
E.2.26 On June 4, 2015, the SOC issued a resolution ceasing the Control Measure.
E.2.27 On July 8, 2015, the 10'" Labour Court of Medellin admitted a law suit raised by Prins against
Minera on the basis of"harassment" (the "Prins' Claim").
E.2.28 On July 31,2015, a hearing was held at the lOth Labour Court of Medellin in regards to certain
interim precautionary measure requested by Prins in relation to the Prins' Claim. The Court
refused to grant the precautionary measure on the basis that there were no grounds for granting
them.
E.2.29 On August 5, 2015, Colombian Counsel filed a writ of defense in relation to the Prins' Claim.
E.2.30 On August 12, 2015, a meeting of the shareholders of Minera was held to approve the resignation
of Mr. Alvaro Belevan and the appointment of Angela Marfa Restrepo as deputy CEO ofMinera.
E.2.31 On August 13,2015, Prins filed a resource for appeal against the decision of the 10'" Labor Court
of Medellin to deny the precautionary measure. This appeal is currently pending at the District
court of Medellin.
E.2.32 On October 9, 2015, RMB registered its existing pledge over the Miner Shares by special registry
pursuant to Law 1676 of2013.
E.2.33 Cadena visited the SOC on January 13, 2016. She was informed that the SOC decided to
terminate the proceeding against Prins. No information on the result of the proceeding was
provided as it was deemed as classified information.
111
AppendixF
Advertisements in The Canadian Mining Journal, and Mining Journal
Page 16
112
F~llowMQn Linked 1m 9
World news
Zinc ready for loading at Port Pirie, South Austmfia
they don't come out the other end unaltered, but nobody does that."
Briggs said what some experts were saying was "look. we have had a 250,000t decline in LME stocks year to date, that doesn't mean the market has been in a deficit to that extent Some of
that metal has simply ended up being moved somewhere else".
Citigroup said significant off~warrant tonnage was sitting in warehouses in the US and Asia. Wilson said: ''We would therefore expect the majority of inflows to occur in these locations. These inflows are expected to help clean
out more of the zinc positioning length and put a dampener on any more bullish zinc ideas through the (northern) summer, as hard stocks data puts the ghostly off~warranttheories into black and white for the market."
Analysts also pointed out that if . people stored metal as part of
INVITATION FOR PROPOSALS
LME stock, they must pay a higher rental charge than if it was stored in a non~LME warehouse. So there was an arbitrage play there.
Things were by no means clear cut, said Briggs. Or to put it another way: "These are murky markets.'1
Twas ever thus.
TO PURCHASE THE BUSINESS AND/OR ASSETS OF SEAFIELD RESOURCES LTD AND MINERA SEAFIELD SAS
Pursuant to an mder of the Ontario Superior Court of justice, Commercial List, made l\hy 20, 2015, KPMG Inc. in its capacity as Court~appointcd receiver {the "Receiver") of Seaticld Resources Ltd ("Seaficld" ()f 1he "Company'), is soliciting written proposals for the ricc1uisition of the Company's assets, by way of sale or an investment into the Company or its wholly*owned Colombian subsidiary, ~·Iinera Sea[icld SAS ("Mincra'') .
. Minera, is 100% owner of 15 mining concessions covering an area of 6,042.8 hectares located in the Quinchia District in Colombia ("Miraflores" or the "Project"). i\Jiraflorcs hosts a resource base of 1.8!\-Ioz gold and 3.6J\Im: silver.
i\ February 20l5 Technical Report (Prclimin:uy Economic Assessment lc\•cl) on ~-Hraflores cond~tcted by SRK Consulting (US) Inc. presents the following key attributes: • Avcra.gc annual production of approximately 45koz gold over a 12 year mine life • Ai.'erage life of mine total cash cost of US$602 per ounce (including off~sitc project costs, royalties and silver credits) • High grade open pit and underground ;woes containing 146koz gold@ 1.4Sg/t and 408ko,.; gold@ 3.51g/t respectively • After~ta."X NPV (5% discount rate, $1,200 gold) of USS73 million
Seafield is also owner of 14 patented parcels of. mining land and one license of occupation in the Kenora Mining Di\·ision of Northwt.>stcrn Ont.ario (the "Elora Property").
Interested parties must be qualified by the Receiver in order to participate in the process and are required to submit initial bids by no later than 5:00p.m. (ES1) on Wednesday July 15,2015.
To obtain further details about bid q~1alificarion, or the process in general, please contact 1-.Jr. Zakir Pare! at + 1 (416) 777*8944 or [email protected] or Mr. Aaron Collier at +1 (416) 777~8854 or [email protected] and/ or visit the .Receivers website Olttp:/ / WW\V. kpmg.com/ ca/ en/ services/ advisory/ transactionrcs tructuring/ creditorlinksites /sea fi.eld- resources! td/ pages/ d c faul t.aspx).
KPMGINC., COURT-APPOINTED RECEIVER OF SEAFIELD RESOURCES LTD.
113
PROFESSIONAL DIRECTORY MONTT GROUP SpA Chilean Mining Attorneys
Montt Group SpA offers a full array of legal and technical services, particularly creation of mining companies. filing for mining claims, easements, administrative permits, due diligence and legal surveillance Own Offices in Antofagasta and Copiapo and other cities Since 1974 serving clients in Chile and Latin American countries
www.monttgroup.com +562 2544 6800 [email protected]
AEl Mining Services 2 www.aelminingservlces.com Brandt 11 www.brandtca DMC Mining Services 20 www.dmcmining.com
.. H?rd-Line Solutions 48 www.hard-llne.com Hercules Sealing Products 38 www.herculesca.ca IESO 9 www.saveonenergy.ca/business JoyGiobal 4 WW\'V.joyglobal.com KPMG 45 www.kpmg.ca Manulift 21 w.vw.manulift.ca/canada·dealers Montt Group SpA 45 www.monttcia.cl
Consulting assistance for mining clients from grass roots exploration through to mine closure.
Mo~ion Canada Petro Canada
PPG Protective &
Marine Coatings
PR Engineering Rosta Inc.
Cradle to cradle
=w=srk consulting ~ > 1,500 profcssiorJats • >50 offices • >20 countries • 6 continents
7 www.motioncanada.com 32 wvvw.!ubricants.petro-canada.ca/mining
43 • www.ppgpmc.com
41 www.prengineering.com 25 www.rostainc.com
Saskatchewan Research Council 17 www.src.sk.ca/mining
SRK Consulting- 45 www.srk.com Stantec 47 www.stantec.com/mining
INVITATION FOR PROPOSALS TO PURCHASE THE BUSINESS AND/OR ASSETS OF
SEAFIELD RESOURCES LTD AND MINERA SEAFIELD SAS
Pursuant to an order of the Ontario Superior Court of Justice, Commercial List, made May 20, 2015, KPMG Inc. in its capacity as Court-appointed receiver (the "Receiver") of Scafield Resources Ltd ("Seatield" or the "Company"), is soliciting written proposals for the acquisition of the Company's assets, by way of sale or an investment into the Company or its wholly-owned Colombian subsidiary, Minera Seafield SAS ("Minera").
· Minera, is 1 00% owner of I 5 mining concessions covering an area of 6,042.8 hectares located in the Quinchfa District in Colombia ("Miraflores" or the "Project"). Miraflores is an undeveloped open-pit and underground project with a resource base of 1.8Moz gold and 3.6Moz silver.
Seafield is also owner of 14 patented parcels of mining land and one license of occupation in the Ken ora Mining Division of Northwestern Ontario (the "Elora Property").
Interested parties must be qualified by the Receiver in order to participate in the process and are required to submit initial bids by no later than 5:00p.m. (EST) on Wednesday July 15, 2015.
To obtain further details about bid qualification, or the process in general, please contact Mr. Zakir Patel at +1 (416) 777-8944 or [email protected] or Mr. Aaron Collier at +1 (416) 777-8854 or [email protected] and/ or visit the Receiver's website (http://www.kpmg.com/ca/cn/services/ advisory/transactionrestructuring/creditorlinksites/ seafield-resources-ltd/pages/default.aspx).
KPMGINC., COURT-APPOINTED RECEIVER OF SEAFIELD RESOURCES LTD.
June/july 2015. Canadian Mining Journa1145
--------~~------------------------------~-~~~----------~---~ '
114
F¢1/<:wtU$0» linkedfm 7
World news
SILVER ,
Pan American's lateral thinking Paul Harris
Use of lateral thinking to pick the most appropriate mining processes to optimise its existing operations in Mexico is helping to propel Pan American Silver towards its aim to become the pre·eminent primary silver producer in the world.
"Primary silver deposits are a rare breed, so while we keep our eyes open and watch the junior market and their greenfield exploration, our organic growth opportunities at La Colorada and Dolores have been more attractive than potential acquisitions over the past two years," chief operarting officer Steve Busby said this week.
"The expansions are really about taking the technical and operational teams that are intimate with the resources and
the process alternatives to optimise them, and over a two·year study we generated attractive projects that we cannot better by bringing other projects into the company."
This month, Pan American gave the OK to a US$112.4 million expansion at Dolores in Chihuahua that will include milling high-grade material to 425 microns and passing it through a 5,600!/d pulp agglomeration circuit to improve silver and gold recoveries. "This has been used at the Castle Mountain operation in California and the Barrick Gold's Ruby Hill operation in Nevada and it should increase gold recovery by 13% and silver recovery by 18%/ Busby said.
The project's production throughput will also expand from 16,500t/d to 18,500t/d. A 1 ,500!/d
underground mine developed under the open pit will use open sloping to bring the total operation to 20,000!/d.
"In 2017, this will increase production 40% from 4.5Moz silver to 6.3Moz plus increase gold production 52% to 206,000oz, up from 135,000oz, for the first five years. More importantly, the economies of scale of increased production will drive cash costs down from minus·$7 an ounce to minus-$11 an ounce,n Busby said.
At La Colorada, a four-year, $145.9 million expansion is underway that will see it become one of the 1 0-largest primary silver mines in the world through the deVelopment of a new shaft to exploit higher grade resources in the primary Candelaria and Estrella geological structures at depth. When completed in 2018,
INVITATION FOR PROPOSALS
production will increase from 4Moz·4.5Moz of silver to 7 .5Moz·8Moz of silver.
"The shaft at Candelaria really limited development," Busby said.
'With the veins running at depth we decided to build a new shaft between them and produce from both structures. We have completed the pilot hole for a 5.1 m·diameter raise bore shaft that we will raise from the 610m level, which we hope to complete in mid-toCJate 2016 and then start the undergrpund development."
As at Dolores, cash costs are also expected to fall following the expansion. "In addition to having higher silver grades at depth there are also higher grades of lead and zinc, so this will really drive our cash costs down. Our cash costs in 2014were about $1 0/oz and we think they will be sub $7 /oz in 2018," he said.
TO PURCHASE THE BUSINESS AND/ORASSETS OF SEAFIELD RESOURCES LTD AND MINERA SEAFIELD SAS
Pursuant to an order of the Ontario Superior Court of Justice, Commercial List, made May 20, 2015, KPlv1G Inc. in its capacity as Court-appointed receiver (the "Receiver") of Seafield Resources Ltd ("Seafield, or the "Company"), is soliciting written propo~als for the acquisition of the Company's assets, by way of sale or an investment into the Company or its wholly·owned Colombian subsidiary, b-iinera Seafield SAS ("Minera").
:Minera, is 100% owner of 15 mining conces!dons covering an area of 6,042.8 hectares located in the Quinchia District in Colombh ("Miraflores" or the "Project"). i\:firaflores is an undeveloped opcn·pit ~lnd underground project with a resource base of 1.8Moz gold and 3.61\-loz silYer.
Seafield is also owner of 14 patented parcels of mining land and one license of occupation in the Kenora Mining Division of Northwestern Ontario (the "Elora Property").
Imerested parties must be qualified by the Receiver in order to_ partidpate in the process and are required to submit initial bids by no later than 5:00p.m. (EST) on Wednesday July 15,2015.
To obtain further details abom bid qualification, or the process in genet·al, please contact tvfr. Zakir Patel at +1 (416) 777 .. 8944 or [email protected] or Mr. Aaron Collier at +1 (416) 777-8854 or [email protected] and/ or visit the Receiver's website (http:/ /www.kpmg.com/ ca/ en/ services/ advisorr I transactionrestructuring/ crcditorlinksires/ seaheld-resources· ltd/ pages/ dcfaulr.aspx).
KPMGINC., COURT-APPOINTED RECEIVER OF SEAFIELD RESOURCES LTD
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Appendix G
Summary of Non-Binding Indications oflnterest (confidential)
Pagel?
116
This Confidential Appendix has been Redacted Pending a Determination of the Receiver's Request for
a Sealing Order
117
AppendixH
Bidder revised offer (confidential)
Page 18
118
This Confidential Appendix has been Redacted Pending a Determination of the Receiver's Request for
a Sealing Order
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Appendix I
Share Purchase Agreement
Page 19
120
KPMG INC., solely in its capacity as the Court-appointed receiver of Seafield Resources Ltd.
and not in its personal or corporate capacity
AND
RMB AUSTRALIA HOLDINGS LIMITED
SHARE PURCHASE AGREEMENT
February 16, 2016
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Section 1.1 Section 1.2 Section 1.3 Section 1.4 Section 1.5 Section 1.6 Section 1.7 Section 1.8 Section 1.9
Section 2.1 Section2.2
Section3.1 Section 3.2 Section 3.3
Section 4.1 Section4.2 Section4.3 Section4.4
Section 5.1
Section 6.1 Section 6.2 Section 6.3
TABLE OF CONTENTS
ARTICLEl INTERPRETATION
Definitions .................................................................................................................. 2 Currency ..................................................................................................................... 5 Entire Agreement ...................................................................................................... 6 Governing Law .......................................................................................................... 6 Singular, Plural and Gender .................................................................................... 6 Certain Words ............................................................................................................ 6 Headings and Table of Contents ............................................................................. 6 Statutory References ................................................................................................. 6 Actions to be Performed on a Business Day .......................................................... 7
ARTICLE2 PURCHASE AND SALE OF PURCHASED SHARES
Agreement of Purchase and Sale .................. : .......................................................... 7 Purchase Price ............................................................................................................ 7
ARTICLE3 REPRESENTATIONS AND WARRANTIES
Representations of the Receiver .............................................................................. 7 Representations of the Purchaser ............................................................................ 8 Limitations .................................................................................................................. 9
ARTICLE4 COVENANTS
Pre-Closing Cooperation .......................................................................................... 9 Acquisition on" As Is, Where Is" Basis ................................................................ 10 Books and Records .................................................................................................. 10 Foreign Investment Substitution in Colombia .................................................... 11
ARTICLES BID AND AUCTION PROCEDURES
Approval and Vesting Order ................................................................................. 11
ARTICLE6 CONDITIONS
Conditions for the Benefit of the Purchaser ......................................................... 12 Conditions for the Benefit of the Receiver ........................................................... 13 Mutual Conditions .................................................................................................. 13
( i )
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Section 7.1 Section 7.2 Section 7.3 Section 7.4
Section 8.1
ARTICLE? CLOSING
Closing Date and Place of Closing ........................................................................ 14 Deliveries on Closing by the Receiver .................................................................. 14 Deliveries on Closing by the Purchaser ............................................................... 15 Risk ............................................................................................................................ 16
ARTICLES TERMINATION
Termination .............................................................................................................. 16
ARTICLE9 MISCELLANEOUS
Section 9.1 Disclosure of Agreement ........................................................................................ 17 Section 9.2 Liability of the Parties ............................................................................................. 17 Section 9.3 Obligations to Survive ............................................................................................ 18 Section 9.4 Damages ................................................................................................................... 18
. Section 9.5 Further Assurances ................................................................................................. 18 Section 9.6 Assignment by Purchaser ....................................................................................... 18 Section 9.7 Time of the Essence ................................................................................................. 18 Section 9.8 Notices ....................................................................................................................... 18 Section 9.9 Solicitors and Agents and Tender ......................................................................... 20 Section 9.10 Successors and Assigns .......................................................................................... 20 Section 9.11 No Brokers ................................................................................................................ 20 Section 9.12 Third Party Beneficiaries ........................................................................................ 20 Section 9.13 Severability ............................................................................................................... 20. Section 9.14 Counterparts ............................................................................................................ 21 Section 9.15 No Strict Construction ............................................................................................ 21
ADDENDA
SCHEDULE 1 RECEIVERSHIP ORDER SCHEDULE 2 BIDDING PROCEDURES ORDER
( ii)
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THIS SHARE PURCHASE AGREEMENT dated as of the 16th day of February, 2016.
AMONG:
KPMG INC. ("KPMG"), solely in its capacity as the Court-appointed receiver of Seafield Resources Ltd., a corporation organized and existing under the laws of the Province of Ontario, Canada ("Seafield"), and not in its ·personal or corporate capacity, (the "Receiver")
-and-
RMB AUSTRALIA HOLDINGS LIMITED, a company existing under the laws of Australia having registration number ACN 003 201 214 (the "Purchaser")
WHEREAS:
A. KPMG was appointed as Receiver, without security, of all of the assets, undertakings and properties of Seafield (including, for greater certainty, the Purchased Shares (as defined herein)) acquired for, or used in relation to a business carried on by Seafield, including all proceeds thereof (collectively, the "Property") pursuant to an order (as such order may be amended or restated from time to time, the "Receivership Order") of the Ontario Superior Court of Justice (Commercial List) (the "Court") dated September 9, 2014, bearing Court File No. CV-14-10686-00CL (as attached at Schedule 1, the "Receivership Proceedings");
B. Seafield is the sole shareholder of Minera Seafield S.A.S., a corporation organized and existing under the laws of Colombia ("Minera");
C. Seafield is indebted to the Purchaser in the principal amount of $16,500,000, plus any accrued interest and fees and expenses owing in connection therewith, being an aggregate of $22,010,268 as of February 1, 2016, pursuant to a facility agreement dated February 21, 2013, as amended, restated or supplemented from time to time (the "Seafield Debt");
D. Pursuant to the terms of the Receivership Order and such further orders of the Court, the Receiver was authorized to borrow monies from time to time to fund the Receivership Proceedings, which borrowing were secured by the Receiver's Borrowings Charge (as defined in the Receivership Order), being a priority charge over all of the Property of Seafield;
E. The Receivership Order authorizes the Receiver to market any or all of the Property, including advertising and soliciting offers in respect of the Property or any part or parts thereof and to negotiate such terms and conditions of sale as the Receiver in its discretion may deem appropriate;
F. The Receiver conducted a sales and investor solicitation procedure in order to solicit bids for the sale of all or substantially all of the property, assets or undertakings of
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Seafield, for the sale of all or substantially all of the property, assets or undertakings of Minera or for the restructuring, recapitalization or refinancing of Seafield or Minera pursuant to an order of the Court dated May 20, 2015, bearing Court File No. CV-14-10686-00CL (as attached at Schedule 2, the "Bidding Procedures Order"), but did not receive any Qualified Bids (as defined therein);
G. The Purchaser has offered to purchase all of the Receiver's and Seafield's right, title and interest, if any, in and to the Purchased Shares on the terms and subject to the conditions set forth in this Agreement including the issuance of the Approval and Vesting Order (as defined herein); and
H. The Receiver has agreed to bring a motion to obtain an order of the Court to, among other things, authorize the Receiver to enter into this Agreement and authorize and· approve the sale of all of the Receiver's and Seafield's right, title and interest, if any, in and to the Purchased Shares.
NOW THEREFORE this Agreement witnesses that in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each Party (as defined herein) to the other, the Parties agree as follows:
ARTICLE1 INTERPRETATION
Section 1.1 Definitions
Whenever used in this Agreement the following words and·· terms shall have the meanings set out below:
In this Agreement:
"Affiliate" has the meaning ascribed thereto under the Business Corporations Act (Ontario);
"Agreement" means this share purchase agreement, including all schedules, and all supplements, amendments or restatements, as permitted, and references to "Article", "Section" or "Schedule" mean the specified Article or Section of, or Schedule to, this Agreement;
"Applicable Law" means, in respect of any Person, property, transaction or event, any domestic or foreign statute, law (including the common law), ordinance, rule, regulation, treaty, restriction, regulatory policy, standard, code or guideline, by-law or order that applies in whole or in part to such Person, property, transaction or eventi
"Approval and Vesting Order" means one or more orders approving the transactions described herein and vesting title to the Purchased Shares in the Purchaser or its assignees free and clear of all Liens;
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"Assets" means all property and assets of Minera of every nature and kind and wheresoever situate;
"Bidding Procedures" means the bidding procedures approved by the Court pursuant to the Bidding Procedures Order appended as Schedule 2 hereto;
"Bidding Procedures Order" has the meaning ascribed thereto in the Recitals;
"Books and Records" means all of the books, records, books of account, supplier and customer lists, business information, research and development information, business· analyses and plans, and records, and all other documents, files, records, correspondence, electronic information (including emails and web page content), and other data and information, financial or otherwise related to the Business within the control or possession of Seafield or Minera at the Closing Date, and including all data and information stored by Seafield or Minera electronically, digitally or on computer related media in respect of the Business, which can be transferred in accordance with Applicable Law;
"Business" means the business of Minera, being the business of mineral exploration, evaluation, development and exploitation in certain areas within the Quinchia Project in Colombia;
"Business Day" means any day which is not a Saturday, a Sunday or any day on which Canadian chartered banks are closed for business in Toronto, Ontario;
uclaim" means any claim, action, demand, cause of action, suit, complaint, proceeding, arbitration, judgment, settlement, award, assessment, re-assessment, order, investigation, enquiry or hearing made or threatened;
"Closing" means the completion of the Transaction in accordance with the terms and subject to the conditions of this Agreement on the Closing Date at the Closing Time;
"Closing Date" means the date on which Closing occurs;
"Closing Time" has the meaning ascribed thereto in Section 7.1;
"Colombian Tax Return" has the meaning ascribed thereto in Section 4.4;
"Colombian Taxes" has the meaning ascribed thereto in Section 6.3(b );
"Consentu means any approval, authorization, consent, order, license, permission, permit (including any environmental permit), qualification, exemption or waiver by any Governmental Authority or other Person;
"Contracts" means any agreement, contract, licence, undertaking, engagement or commitment of any nature, written or oral in respect of the Business or Assets;
"Court" has the meaning ascribed thereto in the Recitals;
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"Governmental Authority" means any domestic or foreign government, whether federal, provincial, state, territorial or municipal; and any governmental agency, ministry, department, court (including the Court), Tribunal, commission, stock exchange, bureau, board or other instrumentality exercising or purporting to exercise legislative, judicial, regulatory or administrative functions of, or pertaining to, government or securities market regulation;
"Income Tax Act" means, collectively, the Income Tax Act (Canada), the Income Tax Application Rules (Canada) and the Income Tax Regulations, in each case as amended to the date hereof;
"KPMG" has the meaning ascribed thereto in the Recitals;
"Lien" means any mortgage, charge, pledge, hypothec, security interest, assignment, lien (statutory or otherwise), easement, title retention agreement or arrangement, conditional sale, deemed or statutory trust, restrictive covenant or other · encumbrance of any nature which, in substance, secures payment or performance of an obligation;
"Minera" has the meaning ascribed thereto in the Recitals;
"Parties" means, collectively, the Purchaser and the Receiver, and "Party" means any one of them;
"Person" means individuals, corporations, limited and unlimited liability companies, general and limited partnerships, associations, trusts, unincorporated organizations, joint ventures and Governmental Authorities;
"Property" has the meaning ascribed thereto in the Recitals;
"Purchase Price" has the meaning ascribed thereto in Section 2.2;
"Purchased Shares" has the meaning ascribed thereto in Section 2.1;
"Purchaser" has the meaning ascribed thereto in the Recitals;
"Purchaser's Solicitors" means the law firm of Stikeman Elliott LLP;
"Receiver" has the meaning ascribed thereto in the Recitals;
"Receiver's Borrowing Charge" has the meaning ascribed thereto in the Receivership Order;
"Receiver's Certificate" has the meaning given in the Receivership Order;
"Receiver's Solicitors" means the law firm McMillan LLP;
"Receivership Debt Amount" means the aggregate outstanding principal amount borrowed by KPMG (in its capacity as the Receiver) plus any accrued interest and
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charges thereon, being $2,376,697 as of the date hereof, which is secured by the Receiver's Borrowings Charge and is being credit bid by the Purchaser;
"Receivership Order" has the meaning ascribed thereto in the Recitals;
"Receivership Proceedings" has the meaning ascribed thereto in the Recitals;
"Representative" means, in respect of a Party, each director, officer, employee, agent, Affiliate, manager, lender, solicitor, accountant, professional advisor, consultant, contractor and other representative of such Party or such Party's Affiliates and shaH include each director, officer, employee, agent, Affiliate, manager, lender, solicitor, accountant, professional advisor, consultant, contractor and other representative of such Affiliate;
"Seafield" has the meaning ascribed thereto in the Recitals;
"Seafield Debt"" has the meaning ascribed thereto in the Recitals;
"Tax Legislation" means, coiiectively, the Income Tax Act and ail federal, provincial, territorial, municipal, foreign, or other statutes imposing a Tax, including ail treaties, conventions, rules, regulations, orders, and decrees of any jurisdiction;
"Tax" or "Taxes" means all taxes, assessments, charges, dues, duties, rates, fees, imposts, levies and similar charges of any kind lawfully levied, assessed or imposed by any Governmental Authority under any applicable Tax Legislation, including Canadian federal, provincial, territorial, municipal and local, foreign or other income, capital, goods and services, sales, registration and recording, harmonized sales, excise, value added, business or transfer taxes and any other similar or like taxes and charges imposed by a Governmental Authority in connection with the sale, transfer or registration of transfer of the Purchased Shares, including any interest, penalties and fines associated therewith;
"Termination Date" means April 3D, 2016;
"Transaction" means the purchase by the Purchaser and sale by the Receiver of ail of the Receiver's and Seafield's right, title and interest, if any, in and to the Purchased Shares contemplated by this Agreement; and
"Tribunal" means any court (including a court of equity), arbitrator or arbitration panel and any other Governmental Authority, stock exchange, professional or business organization or association or other body exercising adjudicative, regulatory, judicial or quasi-judicial powers.
Section 1.2 Currency
All references in this Agreement to monetary amounts, unless indicated to the contrary, are to the currency of Canada.
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Section 1.3 Entire Agreement
This Agreement constitutes the entire agreement between the Parties with respect to its subject matter, and supersedes any and all prior negotiations, understandings and agreements between the Parties. This Agreement may not be amended or modified in any respect except by written instrument signed by the Parties. There are no covenants, promises, warranties, representations, conditions, understandings or other agreements, oral or written, express, implied or collateral between the Parties in connection with the subject matter of this Agreement except as specifically set forth in this Agreement and the Purchaser shall acquire all of the Receiver's and Seafield's right, title and interest, if any, in and to the Purchased Shares on an "as is, where is" basis. Any cost estimates, projections or other predictions contained or referred to in any other material that has been provided to the Purchaser or any of its Representatives are not and shall not be deemed to be representations or warranties of the Receiver or any of its Representatives. No waiver of any of the provisions of this Agreement shall be deemed to constitute a waiver of any other provision (whether or not similar), nor shall such waiver constitute a waiver or continuing waiver unless otherwise expressly provided in writing duly executed by the Party to be bound thereby.
Section 1,4 Governing Law
This Agreement is a contract made under and shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable in the Province of Ontario. Each Party hereto irrevocably submits to the non-exclusive jurisdiction of the Court supervising the Receivership Proceedings with respect to any matter arising hereunder or relating hereto.
Section 1.5 Singular, Plural and Gender
Words importing the singular include the plural and vice versa, and words importing gender include the masculine, feminine and neuter genders.
Section 1.6 Certain Words
In this Agreement, the words "including" and "includes" means "including (or includes) without limitation", and "third party" means any Person who is not a Party.
Section 1.7 Headings and Table of Contents
The headings and any table of contents contained in this Agreement, including the separation of this Agreement into articles, sections, subsections, paragraphs and clauses, are for convenience of reference only, and shall not affect the meaning or interpretation.
Section 1.8 Statutory References
All references to any statute is to that statute or regulation as now enacted or as may from time to time be amended, re-enacted or replaced and includes all regulations made
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thereunder, unless something in the subject matter or context is inconsistent therewith or unless expressly provided otherwise in this Agreement.
Section 1.9 Actions to be Performed on a Business Day
Whenever this Agreement provides for or contemplates that a covenant or obligation is to be performed, or a condition is to be satisfied or waived on a day which is not a Business Day, such covenant or obligation shall be required to be performed, and such condition shall be required to be satisfied or waived on the next Business Day following such day.
ARTICLE2 PURCHASE AND SALE OF PURCHASED SHARES
Section2.1 Agreement of Purchase and Sale
On the Closing Date and subject to the terms and conditions of this Agreement (which conditions, for greater certainty, include the issuance of the Approval and Vesting Order), the Receiver hereby agrees to sell, assign and transfer to the Purchaser, and the Purchaser agrees to purchase from the Receiver, all (but not less than all) of the issued and outstanding shares of Minera (collectively, the "Purchased Shares").
Section 2.2 Purchase Price
The consideration payable by the Purchaser to the Receiver for the Purchased Shares is $19,000,000 (the "Purchase Price"). The Purchase Price shall be paid and satisfied on Closing by providing a credit in the full amount of the Receivership Debt Amount in full satisfaction of the Receiver's Borrowing Charge as well as a release of $16,623,303 (and no more) of the Seafield Debt, as of the date hereof (it being acknowledged that the final amounts of the Receivership Debt Amount and released Seafield Debt constituting the Purchase Price shall be determined on the Closing Date).
ARTICLE3 REPRESENTATIONS AND WARRANTIES
Section3.1 Representations of the Receiver
The Receiver represents and warrants to the Purchaser as follows and acknowledges that the Purchaser is relying on such representations and warranties in connection with entering into this Agreement and performing its obligations hereunder:
(a) The Receiver has been appointed by the Court as receiver of the Property pursuant to the Receivership Order, a copy of which is appended as Schedule 1 hereto;
(b) Subject to the issuance of the Approval and Vesting Order, the Receiver has all necessary power and authority to enter into this Agreement and to carry out its obligations under this Agreement. This Agreement has been duly executed and delivered by the Receiver and constitutes a legal, valid and
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(c)
(d)
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binding obligation of the Receiver enforceable against it in accordance with its terms, subject to any limitations imposed by Applicable Law;
To the knowledge of the Receiver, there is no action, suit, proceeding or Claim against Seafield or the Receiver that is pending or, to the Receiver's knowledge, threatened against Seafield or the Receiver in any court or by or before any Governmental Authority that would be reasonably expected to adversely affect the Receiver's ability to perform its obligations under this Agreement on a timely basis; and
None of the Receiver or, to the knowledge of the Receiver, Seafield, is a non-resident of Canada within the meaning of section 116 of the Income Tax Act.
Section3.2 Representations of the Purchaser
The Purchaser represents and warrants to the Receiver as follows and acknowledges that the Receiver is relying on such representations and warranties in connection with entering into this Agreement and performing its obligations hereunder:
(a) The Purchaser is a corporation duly formed and validly subsisting under the laws of the jurisdiction of its formation and has the requisite power and authority to carry on its business as now conducted by it and to own its properties and assets, and is qualified to carry on business under the Applicable Laws of the jurisdictions where it carries on a material portion of its business;
(b) Subject to approval from the South African Reserve Bank (which has been obtained) and approval of the Financial Surveillance Department of the South African Reserve Bank (which remains outstanding as of the date hereof) the Purchaser has taken all necessary action to authorize the entering into and performance by it of this Agreement and completion of the Transaction, and the execution, delivery and performance by the Purchaser of this Agreement does not (or would not with the giving of notice, the lapse of time or the happening of any other event or condition), result in a breach or a violation of, or conflict with, any of the terms or provisions of its constating documents or by-laws or any contracts or instruments to which it is a party or pursuant to which any of its assets or property may be affected, and will not result in the violation of any Applicable Law;
(c) Except for the approval of the South African Reserve Bank (which has been obtained) and approval of the Financial Surveillance Department of the South African Reserve Bank (which remains outstanding as of the date hereof) the execution, delivery and performance of this Agreement by the Purchaser does not and will not require any Consent, approval, authorization or other order of, action by, filing with or notification to, any Governmental Authority, except where failure to obtain such Consent, approval, authorization or action, or to make such filing or notification, would not
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(d)
(e)
Section3.3
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prevent, affect or delay the consummation by the Purchaser of the Transaction;
There is no action, suit, proceeding or Claim against the Purchaser that is pending or, to the Purchaser's knowledge, threatened against the Purchaser in any court or by or before any Governmental Authority that would adversely affect the Purchaser's ability to perform its obligations under this Agreement on a timely basis; and
This Agreement has been duly executed and delivered by the Purchaser and constitutes a legal, valid and binding obligation of the Purchaser and is enforceable against the Purchaser in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization or similar Applicable Laws relating to creditors' rights generally and subject to general principles of equity.
Limitations
With the exception of the Receiver's representations and warranties in Section 3.1 and the Purchaser's representations and warranties in Section 3.2, neither the Receiver nor the Purchaser or their Representatives have made or shall be deemed to have made any other representation or warranty, express or implied, at law or in equity, in respect of the Receiver, the Purchaser, the Purchased Shares, Minera or the sale or purchase of the Purchased Shares pursuant to this Agreement.
Section4.1
(a)
(b)
ARTICLE4 COVENANTS
Pre-Closing Cooperation
Prior to the Closing, upon the terms and subject to the conditions of this Agreement, each of the Parties shall use its commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, and cooperate with each other in order to do, all things necessary, proper or advisable under Applicable Law to consummate the Transaction as soon as practicable;
Prior to the Closing, the Receiver shall promptly make available to the Purchaser, as the Purchaser may require, copies of all title documents, abstracts of title, deeds, leases, surveys, plans of survey, certificates, building plans, Contracts, agreements, studies, sketches, and reports, and such other materials and documents that the Receiver has in its possession pertaining to the Business and the Assets, for the purpose of allowing the Purchaser to investigate at its own expense the title of Seafield to the Purchased Shares and the title of Minera to the Assets, the condition, merchantability, extent, quality, quantity, fitness for purpose and all other aspects of the Assets; and
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(c)
Section4.2
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Each of the Receiver and the Purchaser shall promptly notify each other of the occurrence, to such Party's knowledge, of any event or condition, or the existence, to such Party's knowledge, of any fact, that would reasonably be expected to result in any of the conditions set forth in Section 6.1, Section 6.2, or Section 6.3 not being satisfied by the Termination Date.
Acquisition on "As Is, Where Is" Basis
The Purchaser hereby acknowledges and agrees as follows:
(a)
(b)
(c)
Section4.3
The Purchased Shares are being purchased on an "as is, where is" basis as they exist at the Closing Time;
It has conducted such inspections of the Assets and the Business as deemed appropriate, satisfied itself with respect to the Assets, the Business and the Purchased Shares and all matters connected with or related to the Assets, the Business and the Purchased Shares and has relied entirely upon its own investigations and inspections in entering into this Agreement to acquire all of the Receiver's and Seafield's right, title and interest, if any, in and to the Purchased Shares, without regard to any information made available or provided by the Receiver or its Representatives; and
Except as expressly set forth in this Agreement, the Receiver makes no representations, warranties, statements or promises on its own behalf or on behalf of Seafield in favour of the Purchaser concerning the Purchased Shares, the Assets or the Business, or the Receiver's or Seafield's right, title or interest in or to the Purchased Shares, which the Purchaser acknowledges are being acquired on an "as is, where is" basis, whether express or implied, statutory or collateral, arising by operation of Applicable Law or otherwise.
Books and Records
The Receiver, any trustee, trustee in bankruptcy or similar official appointed with respect to Seafield, and each of their Representatives shall, for a period of six (6) years from the Closing Date, have access to, and the right to copy, at their expense to the extent necessary or useful in connection with their administration and discharge of their duties and obligations, including the filing of any Tax return or the defence or settlement of any litigation or to comply with any Applicable Law and during usual business hours, upon reasonable prior notice to the Purchaser, all Books and Records which are to be transferred and conveyed to the Purchaser pursuant to this Agreement. The Purchaser shall use reasonable efforts to retain and preserve all such Books and Records for such six (6) year period. The Purchaser shall not be responsible or liable to the Receiver or any other Person for or as a result of any unintentional loss or destruction of or damage to any of the Books and Records.
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Section4.4 Foreign Investment Substitution in Colombia
Forthwith upon issuance of the Approval and Vesting Order, the Receiver shall authorize Minera (pursuant to power of attorney or otherwise) to (a) complete a special purpose income tax return on behalf of Seafield for filing with the Colombian competent taxing authority (Direcci6n de Impuestos y Aduanas Nacionales - DIAN) in respect of the Transaction (the "Colombian Tax Return") as soon as practicable but in any event within 30 calendar days following the Closing Date and, (b) execute and file the Colombian Tax Return with the DIAN together with any applicable taxes imposed under the Applicable Law of Colombia in connection with the Transaction within thirty (30) calendar days following the Closing Date. In addition, the Receiver shall cause Seafield to cooperate with the Purchaser in preparing and filing the corresponding foreign investment substitution request before the Colombian Central Bank (Banco de Ia Republica de Colombia) and in answering all further reasonable requirements of any Colombian Governmental Authority that may arise in relation to the substitution of the foreign investment on behalf of the Purchaser.
ARTICLES BID AND AUCTION PROCEDURES
Section 5.1 Approval and Vesting Order
(a) As soon as reasonably practicable, the Receiver shall serve and file a motion, which motion shall seek, among other things: (i) approval of the Receiver's execution of this Agreement, and (ii) the issuance of the Approval and Vesting Order;
(b) The Receiver shall use its commercially reasonable efforts to have the Court issue the Approval and Vesting Order;
(c) If leave to appeal is sought, an appeal is taken or a stay pending appeal is requested with respect to the Approval and Vesting Order, the Receiver shall promptly notify the Purchaser of such leave to appeal, appeal or stay request and shall promptly provide to the Purchaser a copy of the related notice(s) or order(s) and written notice of any motion or application filed in connection with any leave to appeal or appeal from such orders; and
(d) The Receiver shall use commercially reasonable efforts to diligently prosecute the dismissal of any motion for any such leave to appeal, appeal, or stay request.
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ARTICLE6 CONDITIONS
Section 6.1 Conditions for the Benefit of the Purchaser
The obligations of the Purchaser to complete the Transaction shall be subject to the satisfaction of, or compliance with, at or before the Closing Time, each of the following conditions precedent:
(a) All representations and warranties of the Receiver contained in this Agreement shall be true and correct as at the Closing Time with the same force and effect as if made at and as of such time;
(b) The Receiver shall have complied with and performed in all material respects all of its covenants and obligations contained in this Agreement required to be performed by it prior to or by the Closing Time, including those obligations set out in Section 5.1 hereof;
(c) The Receiver shall have delivered or caused to be delivered to the Purchaser all items referred to in Section 7.2;
(d) Notwithstanding Section 9.13, no determination shall have been made by the Court or any other Governmental Authority, in connection with the Receivership Proceedings or otherwise, that any provisions of this Agreement are partially or completely invalid or unenforceable;
(e) The Purchaser shall have received the approval of the South African Reserve Bank (it being acknowledged that this condition has been satisfied) and the approval of the Financial Surveillance Department of the South African Reserve Bank (which remains outstanding as of the date hereof) as to the consummation of the Transaction;
(f) The Purchaser shall be satisfied with the form and content of the Colombian Tax Return;
(g) Arrangements satisfactory to the Purchaser shall have been made that it and Minera shall have control over all Books and Records; and
(h) The Purchaser shall be in receipt of an opinion of DLA Piper Martinez Neira, Colombian legal counsel to the Purchaser, as to Colombian law matters related to the Purchased Shares, in form and content satisfactory to Purchaser.
The foregoing conditions are for the exclusive benefit of the Purchaser and non-satisfaction or non-performance of any such condition may only be waived by the Purchaser, in its sole discretion, in whole or in part, at any time and from time to time without prejudice to any other rights which the Purchaser may have. Any such waiver is only binding on the Purchaser if it is made in writing.
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Section 6.2 Conditions for the Benefit of the Receiver
The obligations of the Receiver to complete the Transaction shall be subject to the satisfaction of, or compliance with, at or before the Closing Time, each of the following conditions precedent:
(a) All representations and warranties of the Purchaser contained in this Agreement shall be true and correct as at the Closing Time with the same force and effect as if made at and as of such time;
(b) The Purchaser shall have complied with and performed in all material respects all of its covenants and obligations contained in this Agreement to be performed by it before or by the Closing Time;
(c) All amounts owing to the Receiver and its legal counsel on account of their respective professional fees plus reasonable estimates to fulfil the Receiver's obligations under this Agreement shall have been received;
(d) The Purchaser shall have delivered, or caused to be delivered to the Receiver all items referred to in Section 7.3; and
(e) If the Purchaser assigns any of its rights or obligations arising under this Agreement in accordance with Section 9.6, the Purchaser and such assignee shall have executed and delivered to the Receiver an assignment and assumption agreement (pursuant to which the Purchaser shall remain jointly and severally liable) satisfactory to the Receiver, acting reasonably.
The foregoing conditions are for the exclusive benefit of the Receiver and non-satisfaction or non-performance of any such condition may only be waived by the Receiver, in its sole discretion, in whole or in part, at any time and from time to time without prejudice to any other rights which the Receiver may have. Any such waiver is only binding on the Receiver if it is made in writing.
Section 6.3 Mutual Conditions
The obligations of the Parties to complete the Transaction shall be subject to the satisfaction of, or compliance with, at or before the Closing Time, each of the following conditions precedent:
(a) The Approval and Vesting Order shall have been issued and entered by the Court and such orders shall not have been stayed, vacated or appealed and no order shall have been issued which restrains or prohibits the completion of the Transaction;
(b) the Receiver and the Purchaser shall have received evidence satisfactory to each of them, in their sole and unfettered discretion, that Minera has (i) completed and executed the Colombian Tax Return, (ii) adequately made provision for payment of any taxes payable to the DIAN in connection with
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the Columbian Tax Return ("Colombian Taxes"), and (iii) irrevocably directed its Colombian legal counsel to file the Colombian Tax Return and pay the Colombian Taxes, if any, forthwith after the Closing Date; and
(c) There shall be no order issued by any Governmental Authority delaying, restricting or preventing, and no pending or threatened Claim, judicial or administrative proceeding, or investigation against any Party by any Person, for the purpose of enjoining, delaying, restricting or preventing the consummation of this Transaction, or otherwise claiming that this Agreement or the consummation of the Transaction is improper or would give rise to proceedings under any Applicable Law.
The foregoing conditions are for the benefit of both Parties and non-satisfaction or non-performance of any such condition may only be waived by no less than both of them, in their sole discretion, in whole or in part, at any time and from time to time without prejudice to any other rights which they each may have. Any such waiver is only binding on a Party if it is made in writing, however no Party shall be able to delay or prevent Closing due to non-satisfaction of these mutual conditions due to a breach of this Agreement by that Party.
ARTICLE7 CLOSING
Section 7.1 Closing Date and Place of Closing
Closing shall take place at 10:00 a.m. (the "Closing Time") on the Closing Date at the offices of the Receiver's Solicitors, or such other time and location as the Parties may agree upon in writing. Any tender of documents or money hereunder may be made upon the Receiver or the Purchaser or upon the solicitors acting for the Party on whom tender is desired. All proceedings to be taken and all documents to be executed and delivered by all Parties at the Closing shall be deemed to have been taken and executed simultaneously and no proceedings shall be deemed to have been taken nor documents executed or delivered until all have been taken, executed and delivered. The Parties agree that if the Purchaser has assigned only part of its rights and obligations in accordance with Section 9.6, at the Purchaser's election, the Closing Time in respect of the Purchaser and the Closing Time in respect of the permitted assignee shall take place 5 minutes apart, in the order as determined by the Purchaser in its sole and absolute discretion
Section 7.2 Deliveries on Closing by the Receiver
At the Closing Time, the Receiver shall deliver, or cause to be delivered to the Purchaser:
(a) Pursuant to the Approval and Vesting Order, to the extent not already in the possession of the Purchaser, share certificates representing the Purchased Shares, free and clear of all Liens, other than (i) those restrictions on transfer, if any, contained in the constating documents of Minera and (ii) Liens granted in favour of the Purchaser, duly endorsed in blank for transfer, or
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(b)
(c)
(d)
(e)
(f)
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accompanied by irrevocable security transfer powers of attorney duly executed in blank, in either case by the holders of record, together with evidence satisfactory to the Purchaser that the Purchaser or its nominee(s) have been entered upon the books of Minera as the holder of the Purchased Shares;
A true and complete copy of the Approval and Vesting Order, as issued by the Court;
The Receiver's Certificate (as defined in the Approval and Vesting Order) executed by the Receiver;
The original of Minera' s stock ledger wherein the Purchaser is registered as owner of the Purchased Shares;
A bring-down certificate executed by the Receiver, in a form satisfactory to the Purchaser, acting reasonably, certifying that all of the representations and warranties of the Receiver hereunder remain true and correct in all material respects as of the Closing Time; and
Such other documents as may be reasonably requested by the Purchaser's Solicitors to effect or evidence Closing and the transfer of the Purchased Shares.
Section 7.3 Deliveries on Closing by the Purchaser
At the Closing Time, the Purchaser shall deliver, or cause to be delivered to the Receiver:
(a) The payment required by Section 2.2 reflected by a confirmation and acknowledgement executed by the Purchaser confirming that the Receivership Debt Amount is fully satisfied and extinguished and that $16,623,303 (and no more) of the Seafield Debt as of the date hereof is satisfied and extinguished (it being acknowledged that the final amounts of the Receivership Debt Amount and released Seafield Debt constituting the Purchase Price shall be determined on the Closing Date);
(b) A bring-down certificate executed by the Purchaser, in a form satisfactory to the Receiver, acting reasonably, certifying that all of the representations and warranties of the Purchaser hereunder remain true and correct in all material respects as of the Closing Time;
(c) A certificate executed by the Purchaser, certifying that the open share pledge agreement over the shares of Minera executed on February 21, 2013 is terminated and authorizing the legal representative of Minera to cancel the registration of such pledge in Minera's stockholders registry book; and
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(d) Such other documents as may be reasonably requested by the Receiver's Solicitors to effect or evidence Closing and the transfer of the Purchc.sed Shares.
Section 7.4 Risk
The Business will be and remain at the risk of Seafield to the extent of its interest until Closing and at the risk of the Purchaser from and after Closing. If, prior to Closing, a material portion of the Assets are substantially damaged or destroyed by fire or other casualty, then, at its option, the Purchaser may decline to complete the Transaction. Such option must be exercised within ten (10) Business Days after receipt of notice in writing by the Purchaser from the Receiver of the occurrence of damage or destruction (or prior to the Closing Date if such occurrence takes place within ten (10) days of the Closing Date) in which event this Agreement will be terminated automatically. If the Purchaser does not exercise such option, it will complete the Transaction and will be entitled to the benefit of an assignment of the proceeds of insurance referable to such damage or destruction. Where any damage or destruction is not substantial, the Purchaser will complete the Transaction and will be entitled to the benefit of an assignment of the proceeds of insurance referable to such damage or destruction provided that such damage or destruction is insured or, otherwise, to an agreed abatement.
ARTICLES TERMINATION
Section 8.1 Termination
This Agreement may be terminated at any time prior to the Closing:
(a) Subject to any required Court approval, by mutual written consent of the Receiver and the Purchaser;
(b) Automatically and without any action or notice by either the Receiver or the Purchaser, immediately upon the issuance of a final and non-appealable order, decree, or ruling or any other action by a Governmental Authority to restrain, enjoin or otherwise prohibit the Transaction;
(c) By either the Receiver or the Purchaser if the Closing has not occurred on or before the Termination Date other than in the circumstances described in Section 8.1(d) and Section 8.1(e);
(d) By the Receiver, if there has been a material violation or breach by the Purchaser of any agreement, covenant, representation or warranty of the Purchaser in this Agreement which would prevent the satisfaction of, or compliance with, any condition set forth in Section 6.2 by the Termination Date and such violation or breach has not been waived by the Receiver or cured by the Termination Date, unless the Receiver is in material breach of its obligations under this Agreement;
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(e) By the Purchaser, if there has been a material violation or breach by the Receiver of any agreement, covenant, representation or warranty of the Receiver in this Agreement which would prevent the satisfaction of, or compliance with, any condition set forth in Section 6.1(a), Section 6.1(b) or Section 6.1(c) by the Termination Date and such violation or breach has not been waived by the Purchaser or cured by the Termination Date, unless the Purchaser is in material breach of its obligations under this Agreement;
(f) By the Purchaser, if any condition set forth in Section 6.1(d), Section 6.1(e), Section 6.1(f), Section 6.1(g) or Section 6.1(h) has not been satisfied, unless the Purchaser is in material breach of its obligations under this Agreement;
(g) By either Party, if the conditions set forth in Section 6.3 have not been satisfied by the Termination Date; or
(h) By the Purchaser in the circumstances and upon the terms set out in Section 7.4.
ARTICLE9 MISCELLANEOUS
Section 9.1 Disclosure of Agreement
Each of the Parties agree that this Agreement shall be filed in the Receivership Proceedings with such redactions as are agreed upon between the Parties and the Court.
Section 9.2 Liability of the Parties
The Purchaser acknowledges and agrees that in all matters pertaining to this Agreement, including in its execution, KPMG is acting solely in its capacity as Receiver of Seafield and, as such, its liability under this Agreement, if any, will be in its capacity as Receiver, and KPMG and its Representatives shall have no personal or corporate liability of any kind, whether in contract, in tort or otherwise and in no circumstance will the Receiver be liable for any consequential damages including loss of profit.
Nothing contained in this Agreement, including for greater certainty anything under Sections 4.1(a), 4.4, S.l(d), 6.3(b) and 9.5, shall require the Receiver to (a) take any act, step, action or commence or continue any proceeding unless the Purchaser has provided the Receiver with sufficient cash funding required by the Receiver, as determined by the Receiver acting reasonably, to take such act, action or proceeding with the benefit of legal advice from counsel of its choice, or (b) take any act, step, action or commence or continue any proceeding that is, in the good faith opinion of the Receiver, reasonably likely to expose the Receiver, KPMG, its subsidiaries, affiliates, partners or employees to any liability or sanction under Applicable Laws which is not subject to cash reimbursement from the Purchaser.
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Section 9.3 Obligations to Survive
(a) The obligations and covenants of the Parties set out in the following sections and articles of this Agreement shall survive Closing, shall remain in full force and effect, shall not merge as a result of Closing and shall be binding on the Parties thereafter: Section 4.2 [Acquisition on "As Is, Where Is" Basis], Section 4.3 [Books and Records], Section 4.4 [Foreign Investment Substitution in Colombia], Section 9.2 [Liability of the Parties], Section 9.4 [Damages] and Section 9.5 [Further Assurances]; and
(b) The obligations and covenants of the Parties set out in the following sections and articles of this Agreement shall survive termination of this Agreement: Section 9.2 [Liability of the Parties], Section 9.4 [Damages] and Section 9.11 [No Brokers].
Section 9.4 Damages
Under no circumstance shall any of the Parties or their Representatives be liable for any special, punitive, exemplary, consequential or indirect damages (including loss of profits) that may be alleged to result, in connection with, arising out of, or relating to this Agreement or the transactions contemplated herein.
Section 9.5 Further Assurances
Each of the Parties hereto from and after the date hereof shall, from time to time, and at the request and expense of the Party requesting the same, do all such further acts and things and execute and deliver such further instruments, documents, matters, papers and assurances as may be reasonably requested to complete the Transaction and for more effectually carrying out the true intent and meaning of this Agreement. The Receiver's obligations under this Section shall terminate on its discharge as Receiver.
Section 9.6 Assignment by Purchaser
The Purchaser shall be permitted to assign this Agreement or any of its rights or obligations under this Agreement to one or more of its affiliates (as such term is defined in National Instrument 45'106) , provided that: (a) notice of such assignment is provided to the Receiver, (b) such assignee agrees to be bound by the terms of this Agreement, and (c) such assignment shall not release the Purchaser jointly or severally from any obligation or liability for performance of the Purchaser's obligations under this Agreement, including Closing, subject to the terms and conditions provided for in this Agreement.
Section 9.7 Time of the Essence
Time shall be of the essence of this Agreement.
Section 9.8 Notices
Any notice, demand or other communication required or permitted to be given to any Party hereunder shall be given in writing and addressed as follows:
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(a) In the case of the Receiver:
KPMGinc. 333 Bay St, #4600, Toronto, ON M5H 2S5
Attention:
Telephone: Fax: Email:
Philip Reynolds and Ryan Adlington
416-777-8500 416-777-3364 [email protected] [email protected]
And with a copy to the Receiver's Solicitors:
McMillan LLP Brookfield Place, Suite 4400 181 Bay Street Toronto, ON M5J 2T3
Attention: Wael M. Rostom and Jennifer Cockbill
Telephone: 416-865-7790 Fax: 416-865-7048 Email: [email protected]
(b) In the case of the Purchaser:
RMB Australia Holdings Limited Level15, 60 Castlereagh Street Sydney, New South Wales 2000 Australia
Attention:
Telephone: Fax: Email:
Greg Gay and Arnold Vogel
+612 9256 6204 and +612 9256 6251 +612 9256 6290 [email protected] and [email protected]
And with a copy to the Purchaser's Solicitors:
Stikeman Elliott LLP 5300 Commerce Court West 199 Bay Street Toronto, ON M5L 1B9
Attention:
Telephone: Fax: Email:
Craig Mitchell and Ashley Taylor
416-869-5509 and 416-869-5236 416-947-0866 [email protected] and [email protected]
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Any such notice, if personally delivered (including courier delivery), shall be deemed to have been validly and effectively given and received on the Business Day of such delivery provided such notice is received before 4:00p.m. (addressee's local time); and if such notice is received after 4:00p.m. (addressee's local time) or if the notice is sent by facsimile or other electronic communication, such notice shall be deemed to have been validly and effectively given and received on the Business Day next following the day it was received.
Section 9.9 Solicitors and Agents and Tender
Any notice, approval, waiver, agreement, instrument, document or communication permitted, required or contemplated in this Agreement may be given or delivered and accepted or received by the Purchaser's Solicitors on behalf of the Purchaser and by the Receiver's Solicitors on behalf of the Receiver and any tender of closing documents and the Purchase Price may be made upon the Receiver's Solicitors and the Purchaser's Solicitors, as the case may be.
Section 9.10 Successors and Assigns
This Agreement shall be binding upon, and enure to the benefit of, the Parties hereto and their respective successors and permitted assigns.
Section 9.11 No Brokers
It is understood and agreed that the Purchaser shall not be liable for any commission or other remuneration payable or alleged to be payable to any broker, agent or other intermediary who purports to act or have acted for the Receiver.
Section 9.12 Third Party Beneficiaries
Each Party hereto intends that this Agreement shall not benefit or create any right or cause of action in or on behalf of any Person other than the Parties hereto and their successors and permitted assigns, and no Person, other than the Parties hereto and their successors and their permitted assigns shall be entitled to rely on the provisions hereof in any action, suit, proceeding, hearing or other forum, save and except in the event of any action, suit, proceeding, hearing or other forum as it pertains to matters of confidentiality and any particular Representative in connection therewith.
Section 9.13 . Severability
If any provision of this Agreement or any document delivered in connection with this Agreement is partially or completely invalid or unenforceable, the invalidity or unenforceability of that provision shall not affect the validity or enforceability of any other provision of this Agreement, all of which shall be construed and enforced as if that invalid or unenforceable provision were omitted. The invalidity or unenforceability of any provision in one jurisdiction shall not affect such provision validity or enforceability in any other jurisdiction.
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Section 9.14 Counterparts
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall constitute one and the same agreement. Transmission by facsimile or other electronic means of an executed counterpart of this Agreement shall be deemed to constitute due and sufficient delivery of such counterpart.
Section 9.15 No Strict Construction
The parties have participated jointly in the negotiation and drafting of this Agreement. In the event any ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favouring or disfavouring either Party by virtue of authorship of any provision of this Agreement.
[Remainder of Page Intentionally left blank. Signature Page Follows]
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IN WITNESS WHEREOF this Agreement has been properly executed by the Parties hereto as of the date first above written.
KPMG Share Purchase Agreement
KPMG INC., solely in its capacity as lhe Court-appointed Receiver of S LD RESOURCES LTD., and not i
C~L~~j(A.~/II'-~" Fer: -=c-~--n-r=,..-,-rr---A.~"C""r,.,....,,.,...-
Name: f' /.(C(... r:: J) flq;ctii(...tjj' Title: 1 <;r.J~ v..i: C(- (?lf..(-ftJ fi..-'1__....-
I have authority to bind the Receiver.
RMB AUSTRALIA HOLDINGS LIMITED Executed in accordance with section 127 of the Corporations ct 2001 (Cth)
Per: ~~~ -=----Na e: -+-. --t-~-o/--Title: ' eta#. · ay
145
SCHEDULEl RECEIVERSHIP ORDER
[See attached]
1-1
146
ONTARIO SUPERIOR COURT OF JUSTICE
(COMMERCIAL LIST)
Court File No.: c.v- IL(- I 0~~ b- GOC:.L
THE HONOURABLE M""R. ) ) )
TUESDAY, THE NINTH
JUSTICE NG:"W:BouL]) DAY OF SEPTEMBER, 2014
BETWEEN:
· RMB AUSTRALIA HOLDINGS LIMITED
-and-
SEAFIELD RESOURCES LTD.
ORDER (Appointment Order)
Applicant
Respondent
THIS APPLICATION made by the Applicant RMB Australia Holdings Limited
("RMB") for an Order pursuant to section 243(1) of the Bankruptcy and Insolvency Act,
R.S.C. "1985, c. B-3, as amended (the "BIA'') and section 101 of the Courts of Justice Act,
R.S.O. 1990, c. C.43, as amended (the "CJA") appointing KPMG Inc. ("KPMG") as
receiver and manager (in such capacities, the "Receiver") without security, of all of the
assets, undertakings and properties of Seafield Resources Ltd. (the "Debtor") acquired
for, or used in relation to a business carried on by the Debtor, was heard this day at 330
University Avenue, Toronto, Ontario.
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ON READING the affidavit of Alvaro Belevan sworn September 8, 2014 and the
Exhibits thereto and on hearing the submissions of counsel for RMB and the Debtor, no
one else appearing although duly served as appears from the affidavit of service, filed,
and on reading the consent of I<PMG to act as the Receiver,
SERVICE
1. THIS COURT ORDERS that the time for service of the Notice of Application
and the Application is hereby abridged and validated so that this Application is
properly returnable today and hereby dispenses with further service thereof.
APPOINTMENT
2. THIS COURT ORDERS that pursuant to section 243(1) of the BIA and section
101 of the CJA, I<PMG is hereby appointed Receiver, without security, of all of the
assets, undertakings and properties of the Debtor acquired for, or used in relation to a
business carried on by the Debtor, including all proceeds thereof (the "Property").
RECEIVER'S POWERS
3. THIS COURT ORDERS that the Receiver is hereby empowered and authorized,
but not obligated, to act at once in respect of the Property and, without in any way
limiting the generality of the foregoing, the Receiver is hereby expressly empowered
and authorized to do any of the following where the Receiver considers it necessary or
desirable:
(a) to take possession of and exercise control over the Property and any and
all proceeds, receipts and disbursements arising out of or from the
Property;
(b) to receive, preserve, and protect the Property, or any part or parts thereof,
including, but not limited to, the changing of locks and security codes, the
relocating of Property to safeguard it, the engaging of independent
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security personnel, the taking of physical inventories and the placement of
such insurance coverage as may be necessary or desirable;
(c) to manage, operate, and carry on the business of the Debtor, including the
powers to enter into any agreements, incur any obligations in the ordinary
course of business, cease to carry on all or any part of the business, or
cease to perform any contracts of the Debtor;
(d) to engage consultants, appraisers, agents, experts, auditors, accountants,
managers, counsel and such other persons from time to time and on
whatever basis, including on a temporary basis, to assist with the exercise
of the Receiver's powers and duties, including without limitation those
conferred by this Order;
(e) to purchase or lease such machinery, equipment, inventories, supplies,
premises or other assets to continue the business of the Debtor or any part
or parts thereof;
(f) to receive and collect all monies and accounts now owed or hereafter
owing to the Debtor and to exercise all remedies of the Debtor in
collecting such monies, including, without limitation, to enforce any
security held by the Debtor;
(g) to settle, extend or compromise any indebtedness owing to the Debtor;
(h) to execute, assign, issue and endorse documents of whatever nature in
respect of any of the Property, whether in the Receiver's name or in the
name and on behalf of the Debtor, for any purpose pursuant to this Order;
(i) to undertake environmental or workers' health and safety assessments of
the Property and operations of the Debtor;
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0) to initiate, prosecute and continue the prosecution of any and all
proceedings and to defend all proceedings now pending or hereafter
instituted with respect to the Debtor, the Property or the Receiver, and to
settle or compromise any such proceedings. The authority hereby
conveyed shall extend to such appeals or applications for judicial review
in respect of any order or judgment pronounced in any such proceeding;
(k) to market any or all of the Property, including advertising and soliciting
offers in respect of the Property or any part or parts thereof and
negotiating such terms and conditions of sale as the Receiver in its
discretion may deem appropriate;
(1) to sell, convey, transfer, lease or assign the Property or any part or parts
thereof out of the ordinary course of business,
(i) without the approval of this Court in respect of any transaction not
exceeding $100,000, provided that the aggregate consideration for
all such transactions does not exceed $1,000,000; and
(ii) with the approval of this Court in respect of any transaction in
which the purchase price or the aggregate purchase price exceeds
the applicable amount set out in the preceding clause;
and in each such case notice under subsection 63(4) of the Ontario Personal
Property Security Act or section 31 of the Ontario Mortgages Act, as the case
may be, shall not be required, and in each case the Ontario Bulk Sales Act
shall not apply.
(m) to apply for any vesting order or other orders necessary to convey the
Property or any part or parts thereof to a purchaser or purchasers thereof,
free and clear of any liens or encumbrances affecting such Property;
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(n) to report to, meet with and discuss with such affected Persons (as defined
below) as the Receiver deems appropriate on all matters relating to the
Property and the receivership, and to share information, subject to such
terms as to confidentiality as the Receiver deems advisable;
(o) to register a copy of this Order and any other Orders in respect of the
Property against title to any of the Property;
(p) to apply for any permits, licences, approvals or permissions as may be
required by any governmental authority and any renewals thereof for and
on behalf of and, if thought desirable by the Receiver, in the name of the
Debtor;
(q) to enter into agreements with any trustee in bankruptcy appointed in
respect of the Debtor, including, without limiting the generality of the
foregoing, the ability to enter into occupation agreements for any property
owned or leased by the Debtor;
(r) to exercise any shareholder, partnership, joint venture or other rights
which the Debtor may have, including without limitation, the Debtor's
rights as sole shareholder of Minera Seafield S.A.S. ("Minera") to, among
other things, appoint one or more directors of Minera and to replace any
of the directors of Minera;
(s) to advance monies to Minera; and
(t) to take any steps reasonably incidental to the exercise of these powers or
the performance of any statutory obligations.
and in each case where the Receiver takes any such actions or steps, it shall be
exclusively authorized and empowered to do so, to the exclusion of all other Persons (as
defined below), including the Debtor, and without interference from any other Person.
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DUTY TO PROVIDE ACCESS AND CO-OPERATION TO THE RECEIVER
4. THIS COURT ORDERS that (i) the Debtor, (ii) all of its current and former
directors, officers, employees, agents, accountants, legal counsel and shareholders, and
all other persons acting on its instructions or behalf, and (iii) all other individuals, firms,
corporations, governmental bodies or agencies, or other entities having notice of this
Order (all of the foregoing, collectively, being "Persons" and each being a "Person")
shall forthwith advise the Receiver of the existence of any Property in such Person's
possession or control, shall grant immediate and continued access to the Property to the
Receiver, and shall deliver all such Property to the Receiver upon the Receiver's request.
5. THIS COURT ORDERS that all Persons shall forthwith advise the Receiver of
the existence of any books, documents, securities, contracts, orders, corporate and
accounting records, and any other papers, records and information of any kind related
to the business or affairs of the Debtor, and any computer programs, computer tapes,
computer disks, or other data storage media containing any such information (the
foregoing, collectively, the "Records") in that Person's possession or control, and shall
provide to the Receiver or perm1t the Receiver to make, retain and take away copies
thereof and grant to the Receiver unfettered access to and use of accounting, computer,
software and physical facilities relating thereto, provided however that nothing in this
paragraph 5 or in paragraph 6 of this Order shall require the delivery of Records, or the
granting of access to Records, which may not be disclosed or provided to the Receiver
due to the privilege attaching to solicitor-client communication or due to statutory
provisions prohibiting such disclosure.
6. THIS COURT ORDERS that if any Records are stored or otherwise contained
on a computer or other electronic system of information storage, whether by
independent service provider or otherwise, all Persons in possession or control of such
Records shall forthwith give unfettered access to the Receiver for the purpose of
allowing the Receiver to recover and fully copy all of the information contained therein
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whether by way of printing the information onto paper or making copies of computer
disks or such other manner of retrieving and copying the information as the Receiver in
its discretion deems expedient, and shall not alter, erase or destroy any Records without
the prior written consent of the Receiver. Further, for the purposes of this paragraph, all
Persons shall provide the Receiver with all such assistance in gaining immediate access
to the information in the Records as the Receiver may in its discretion require including
providing the Receiver with instructions on the use of any computer or other system
and providing the Receiver with any and all access codes, account names and account
numbers that may be required to gain access to the information.
7. THIS COURT ORDERS that the Receiver shall provide each of the relevant
landlords with notice of the Receiver's intention to remove any fixtures from any leased
premises at least seven (7) days prior to the date of the intended removal. The relevant
landlord shall be entitled to have a representative present in the leased premises to
observe such removal and, if the landlord disputes the Receiver's entitlement to remove
any such fixture under the provisions of the lease, such fixture shall remain on the
premises and shall be dealt with as agreed between any applicable secured creditors,
such landlord and the Receiver, or by further Order of this Court upon application by
the Receiver on at least two (2) days' notice to such landlord and any such secured
creditors.
NO PROCEEDINGS AGAINST THE RECEIVER
8. THIS COURT ORDERS that no proceeding or enforcement process in any court
or tribunal (each, a "Proceeding"), shall be commenced or continued against the
Receiver except with the written consent of the Receiver or with leave of this Court.
NO PROCEEDINGS AGAINST THE DEBTOR OR THE PROPERTY
9. THIS COURT ORDERS that no Proceeding against or in respect of the Debtor
or the Property shall be commenced or continued except with the written consent of the
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Receiver or with leave of this Court and any and all Proceedings currently under way
against or in respect of the Debtor or the Property are hereby stayed and suspended
pending further Order of this Court.
NO EXERCISE OF RIGHTS OR REMEDIES
10. THIS COURT ORDERS that all rights and remedies against the Debtor, the
Receiver, or affecting the Property, are hereby stayed and suspended except with the
written consent of the Receiver or leave of this Court, provided that nothing in this
paragraph shall (ij empower the Receiver or the Debtor to carry on any business which
the Debtor is not lawfully entitled to carry on, (ii) exempt the Receiver or the Debtor
from compliance with statutory or regulatory provisions relating to health, safety or the
environment, (iii) prevent the filing of any registration to preserve or perfect a security
interest, or (iv) prevent the registration of a claim for lien.
NO INTERFERENCE WITH THE RECEIVER
11. THIS COURT ORDERS that no Person shall discontinue, fail to honour, alter,
interfere with, repudiate, terminate or cease to perform any right, renewal right,
contract, agreement, licence or permit in favour of or held by the Debtor, without
written consent of the Receiver or leave of this Court.
CONTINUATION OF SERVICES
12. THIS COURT ORDERS that all Persons having oral or written agreements with
the Debtor or statutory or regulatory mandates for the supply of goods and/ or services,
including without limitation, all computer software, communication and other data
services, centralized banking services, payroll services, insurance, transportation
services, utility or other services to the Debtor are hereby restrained until further Order
of this Court from discontinuing, altering, interfering with or terminating the supply of
such goods or services as may be required by the Receiver, and that the Receiver shall
be entitled to the continued use of the Debtor's current telephone numbers, facsimile
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numbers, internet addresses and domain names, provided in each case that the normal
prices or charges for all such goods or services received after the date of this Order are
paid by the Receiver in accordance with normal payment practices of the Debtor or
such other practices as may be agreed upon by the supplier or service provider and the
Receiver, or as may be ordered by this Court.
RECEIVER TO HOLD FUNDS
13. THIS COURT ORDERS that all funds, monies, cheques, instruments, and other
forms of payments received or collected by the Receiver from and after the making of
this Order from any source whatsoever, including without limitation the sale of all or
any of the Property and the collection of any accounts receivable in whole or in part,
whether in existence on the date of this Order or hereafter coming into existence, shall
be deposited into one or more new accounts to be opened by the Receiver (the "Post
Receivership Accounts") and the monies standing to the credit of such Post
Receivership Accounts from time to time, net of any disbursements provided for herein,
shall be held by the Receiver to be paid in accordance with the terms of this Order or
any further Order of this Court.
EMPLOYEES
14. THIS COURT ORDERS that all employees of the Debtor shall remain the
employees of the Debtor until such time as the Receiver, on the Debtor's behalf, may
terminate the employment of such employees. The Receiver shall not be liable for any
employee-related liabilities, including any successor employer liabilities as provided for
in section 14.06(1.2) of the BIA, other than such amounts as the Receiver may
specifically agree in writing to pay, or in respect of its obligations under sections 81.4(5)
or 81.6(3) of the BIA or under the Wage Earner Protection Program Act.
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PIPED A
15. THIS COURT ORDERS that, pursuant to clause 7(3)(c) of the Canada Personal
Information Protection and Electronic Documents Act, the Receiver shall disclose personal
information of identifiable individuals to prospective purchasers or bidders for the
Property and to their advisors, but only to the extent desirable or required to negotiate
and attempt to complete one or more sales of the Property (each, a "Sale"). Each
prospective purchaser or bidder to whom such personal information is disclosed shall
maintain and protect the privacy of such information and limit the use of such
information to its evaluation of the Sale, and if it does not complete a Sale, shall return
all such information to the Receiver, or in the alternative destroy all such information.
The purchaser of any Property shall be entitled to continue to use the personal
information provided to it, and related to the Property purchased, in a manner which is
in all material respects identical to the prior use of such information by the Debtor, and
shall return all other personal information to the Receiver,. or ensure that all other
personal information is destroyed.
LIMITATION ON ENVIRONMENTAL LIABILITIES
16. THIS COURT ORDERS that nothing herein contained shall require the Receiver
to occupy or to take control, care, charge, possession or management (separately and/ or
collectively, "Possession") of any of the Property that might be environmentally
contaminated, might be a pollutant or a contaminant, or might cause or contribute to a
spill, discharge, release or deposit of a substance contrary to any federal, provincial or
other law respecting the protection, conservation, enhancement, remediation or
rehabilitation of the environment or relating to the disposal of waste or other
contamination including, without limitation, the Canadian Environmental Protection Act,
the Ontario Environmental Protection Act, the Ontario Water Resources Act, or the Ontario
Occupational Health and Safety Act and regulations thereunder (the "Environmental
Legislation"), provided however that nothing herein shall exempt the Receiver from
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any duty to report or make disclosure imposed by applicable Environmental
Legislation. The Receiver shall not, as a result of this Order or anything done in
pursuance of the Receiver's duties and powers under this Order, be deemed to be in
Possession of any of the Property within the meaning of any Environmental Legislation,
unless it is actually in possession.
LIMITATION ON THE RECEIVER'S LIABILITY
17. THIS COURT ORDERS that the Receiver shall incur no liability or obligation as
a result of its appointment or the carrying out the provisions of this Order, save and
except for any gross negligence or wilful misconduct on its part, or in respect of its
obligations under sections 81.4(5) or 81.6(3) of the BIA or under the Wage Earner
Protection Program Act. Nothing in this Order shall derogate from the protections
afforded the Receiver by section 14.06 of the BIA or by any other applicable legislation.
RECEIVER'S ACCOUNTS
18. THIS COURT ORDERS that the Receiver and counsel to the Receiver shall be
paid their reasonable fees and disbursements, in each case at their standard rates and
charges unless otherwise ordered by the Court on the passing of accounts, and that the
Receiver and counsel to the Receiver shall be entitled to and are hereby granted a
charge (the "Receiver's Charge") on the Property, as security for such fees and
disbursements, both before and after the making of this Order in respect of these
proceedings, and that the Receiver's Charge shall form a first charge on the Property in
priority to all security interests, trusts, liens, charges and encumbrances, statutory or
otherwise, in favour of any Person, but subject to sections 14.06(7), 81.4(4), and 81.6(2) of
the BIA.
19. THIS COURT ORDERS that the Receiver and its legal counsel shall pass its
accounts from time to time, and for this purpose the accounts of the Receiver and its
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legal counsel are hereby referred to a judge of the Commercial List of the Ontario
Superior Court of Justice.
20. THIS COURT ORDERS that prior to the passing of its accounts, the Receiver
shall be at liberty from time to time to apply reasonable amounts, out of the monies in
its hands, against its fees and disbursements, including legal fees and disbursements,
incurred at the standard rates and charges of the Receiver or its counsel, and such
amounts shall constitute advances against its remuneration and disbursements when
and as approved by this Court.
FUNDING OF THE RECEIVERSHIP
21. THIS COURT ORDERS that the Receiver be at liberty and it is hereby
empowered to borrow by way of a revolving credit or otherwise, such monies from
time to time as it may consider necessary or desirable, provided that the outstanding
principal amount does not exceed $750,000 (or such greater amount as this Court may
by further Order authorize) at any time, at such rate or rates of interest as it deems
advisable for such period or periods of time as it may arrange, for the purpose of
funding the exercise of the powers and duties conferred upon the Receiver by this
Order, including interim expenditures. The whole of the Property shall be and is hereby
charged by way of a fixed and specific charge (the "Receiver's Borrowings Charge") as
security for the payment of the monies borrowed, together with interest and charges
thereon, in priority to all security interests, trusts, liens, charges and encumbrances,
statutory or otherwise, in favour of any Person, but subordinate in priority to the
Receiver's Charge and the charges as set out in sections 14.06(7), 81.4(4), and 81.6(2) of
the BIA.
22. THIS COURT ORDERS that neither the Receiver's Borrowings Charge nor any
other security granted by the Receiver in connection with its borrowings under this
Order shall be enforced without leave of this Court.
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23. THIS COURT ORDERS that the Receiver is at liberty and authorized to issue
certificates substantially in the form annexed as Schedule "A" hereto (the "Receiver's
Certificates") for any amount borrowed by it pursuant to this Order.
24. THIS COURT ORDERS that the monies from time to time borrowed by the
Receiver pursuant to this Order or any further order of this Court and any and all
Receiver's Certificates evidencing the same or any part thereof shall rank on a pari passu basis, unless otherwise agreed to by the holders of any prior issued Receiver's
Certificates.
SERVICE AND NOTICE
25. THIS COURT ORDERS that the E-Service Protocol of the Commercial List (the
"Protocol") is approved and adopted by reference herein and, in this proceeding, the
service of documents made in accordance with the Protocol (which can be found on the
Commercial List website at http:/ jwww.ontariocourts.cafscj/practicefpractice-
directionsjtoronto/ e-service-protocol/) shall be valid and effective service. Subject to
Rule 17.05 this Order shall constitute an order for substituted service pursuant to Rule
16.04 of the Rules of Civil Procedure. Subject to Rule 3.01(d) of the Rules of Civil
Procedure and paragraph 21 of the Protocol, service of documents in accordance with
the Protocol will be effective on transmission. This Court further orders that a Case
Website shall be established in accordance with the Protocol with the following URL
'www.kpmg.ca/ seafieldresources'.
26. THIS COURT ORDERS that if the service or distribution of documents in
accordance with the Protocol is not practicable, the Receiver is at liberty to serve or
distribute this Order, any other materials and orders in these proceedings, any notices
or other correspondence, by forwarding true copies thereof by prepaid ordinary mail,
courier, personal delivery or facsimile transmission to the Debtor's creditors or other
interested parties at their respective addresses as last shown on the records of the
Debtor and that any such service or distribution by courier, personal delivery or
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facsimile transmission shall be deemed to be received on the next business day
following the date of forwarding thereof, or if sent by ordinary mail, on the third
business day after mailing.
GENERAL
27. THIS COURT ORDERS that the Receiver may from time to time apply to this
Court for advice and directions in the discharge of its powers and duties hereunder.
28. THIS COURT ORDERS that nothing in this Order shall prevent the Receiver
from acting as a trustee in bankruptcy of the Debtor.
29. THIS COURT HEREBY REQUESTS the aid and recognition of any court,
tribunal, regulatory or administrative body having jurisdiction in Canada, in the United
States or in the Republic of Colombia to give effect to this Order and to assist the
Receiver and its agents in carrying out the terms of this Order. All courts, tribunals,
regulatory and administrative bodies are hereby respectfully requested to make such
orders and to provide such assistance to the Receiver, as an officer of this Court, as may
be necessary or desirable to give effect to this Order or to assist the Receiver and its
agents in carrying out the terms of this Order.
30. THIS COURT ORDERS that the Receiver be at liberty and is hereby authorized
and empowered to apply to any court, tribunal, regulatory or administrative body,
wherever located, for the recognition of this Order and for assistance in carrying out the
terms of this Order, and that the Receiver is authorized and empowered to act as a
representative in respect of the within proceedings for the purpose of having these
proceedings recognized in a jurisdiction outside Canada.
31. THIS COURT ORDERS that the Applicant shall have its costs of this
Application, up to and including entry and service of this Order, provided for by the
terms of the Applicant's security or, if not so provided by the Applicant's security, then
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on a substantial indemnity basis to be paid by the Receiver from the Debtor's estate
with such priority and at such time as this Court may determine.
32. THIS COURT ORDERS that any interested party may apply to this Court to
vary or amend this Order on not less than seven (7) days' notice to the Receiver and to
any other party likely to be affected by the order sought or upon such other notice, if
any, as this Court may order.
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161
SCHEDULE "A"
RECEIVER CERTIFICATE
CERTIFICATE NO. ____ _
AMOUNT$ ______ _
1. THIS IS TO CERTIFY that KPMG Inc., the receiver (the "Receiver") of the assets,
undertakings and properties Seafield Resources Ltd. acquired for, or used in relation to
a business carried on by the Debtor, including all proceeds thereof (collectively, the
"Property") appointed by Order of the Ontario Superior Court of Justice (Commercial
List) (the "Court") dated the [9th] day of September, 2014 (the "Order") made in an
action having Court file number 14-CL-'--------' has received as such Receiver from the
holder of this certificate (the "Lender") the principal sum of $ being part of
the total principal sum of $ which the Receiver is authorized to borrow
under and pursuant to the Order.
2. The principal sum evidenced by this certificate is payable on demand by the
Lender with interest thereon calculated and compounded [daily][monthly not in
advance on the ___ day of each month] after the date hereof at a notional rate per
annum equal to the rate of per cent above the prime commercial lending rate of
Bank of from time to time.
3. Such principal sum with interest thereon is, by the terms of the Order, together
with the principal sums and interest thereon of all other certificates issued by the
Receiver pursuant to the Order or to any further order of the Court, a charge upon the
whole of the Property, in priority to the security interests of any other person, but
subject to the priority of the charges set out in the Order and in the Bankruptcy and
Insolvency Act, and the right of the Receiver to indemnify itself out of such Property in
respect of its remuneration and expenses.
4. All sums payable in respect of principal and interest under this certificate are
payable at the main office of the Lender at Toronto, Ontario.
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5. Until all liability in respect of this certificate has been terminated, no certificates
creating charges ranking or purporting to rank in priority to this certificate shall be
issued by the Receiver to any person other than the holder of this certificate without the
prior written consent of the holder of this certificate.
6. The charge securing this certificate shall operate so as to permit the Receiver to
deal with the Property as authorized by the Order and as authorized by any further or
other order of the Court.
7. The Receiver does not undertake, and it is not under any personal liability, to
pay any sum in respect of which it may issue certificates under the terms of the Order.
DATED the __ day of ____ ~2014.
KPMG Inc., solely in its capacity as Receiver of the Property, and not in its
personal capacity
Per: Name: Title:
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164
SCHEDULEZ BIDDING PROCEDURES ORDER
[See attached]
2-1
165
Court File No. CV -14-1 0686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
THE HONOURABLE
JUSTICE WILTON-SIEGEL
/;<:~
) WEDNESDAY, THE 20TH ) ) DAYOFMAY,2015
/.,,o 0_..:.~ /t ~fi--_ ~~ATTER OF RECEIVERSHIP OF SEAFIELD RESOURCES LTD.
;·' •I , ; 1~ ' rn ·Y. :·--~ { 41 \-~; '-fi\.~~· ~ \-..';:_ !,~ ~ ORDER
'·-~,¢- '.l..;j '-._'iTifiitJ E \:&.< ~~--!!.-•ntiS MOTION, made by KPMG Inc. in its capacity as the Court-appointed
receiver pursuant to Section 243(1) of the Bankruptcy and Insolvency Act ("BIA'') and
Section 101 of the Courts of Justice Act (the "Receiver") of Seafield Resources Ltd.
("Seafield"), was heard th!s day at 330 University Avenue, Toronto, Ontario.
ON READING the Motion Record of the Receiver, the Factum of the Receiver,
the Responding Motion Record of David Prins, the Factum of David Prins, the
Supplement to the First Report of the Receiver to the Court, dated May 18, 2015, the
Affidavit of David Prins, dated May 19, 2015 and on hearing the submissions of counsel
for the Receiver and counsel for RMB Australia Holdings Ltd. and RMB Resources Inc.,
the principal secured creditor of Seafield, and no one appearing for any other parties,
although properly served as appears from proof of service:
1. THIS COURT ORDERS that the time for service of the Notice of Motion and
the Motion Record of the Receiver is hereby abridged and validated so that this motion
is properly returnable today and hereby dispenses with further service thereof.
2. TillS COURT ORDERS that the Sales and Investor Solicitation Procedure,
attached as Schedule "A" to this Order (the "SISP"), is hereby approved.
3. THIS COURT ORDERS that the Receiver is hereby authorized to take the steps
that are reasonably necessary or desirable to carry out the SISP, including, without
166
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limitation, all steps as the legal representative of Seafield as sole shareholder of Minera
Seafield S.A.S. ("Minera").
4. TillS COURT ORDERS that the permitted amount of the Receiver's Borrowings
Charge, provided for at paragraph 21 of the Order of Justice Newbould, dated September
9, 2014 (the "Receivership Order"), shall be and is increased from $750,000 to USD
$3,000,000.
5. THIS COURT ORDERS that the Receiver is hereby authorized to assign
Seafield Resources Ltd. into bankruptcy if it reasonably determines that such step is
necessary to preserve any rights to challenge the Labour Agreement Amendments (as
defined in the First Report) and any other reviewable transactions undertaken by
Seafield or any other person.
6. TillS COURT ORDERS that this Order, the Receivership Order and the SISP
shall remain valid and binding notwithstanding any assignment into bankruptcy of
Seafield.
7. This Court hereby requests the aid and recognition of any other Canadian and
foreign court, tribunal, regulatory or administrative body ("Judicial Body"), including
any Judicial Body of the Republic of Colombia, to give effect to this Order and to assist
the Receiver and its respective agents in carrying out the terms of this Order. All
Judicial Bodies are hereby respectfully requested to make such orders and to provide
such assistance to the Receiver as an officer of this Court, as may be necessary or
desirable to give effect to this Order, to grant representative status to the Receiver in any
foreign proceeding, or to assist the Receiver and its respective agents in carrying out the
terms of this Order.
ENiEh2C AT/ i;\SC8iT A TORO~TO ON I 8001~ "lO: LEI DANS LE f1EG·~~TRE NO.:
MAY 2 ·J 2015
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SCHEDULE "A"
168
,.
SALE AND INVESTOR SOLICITATION PROCEDURES
SEAFIELD RESOURCES LTD.
RECITALS
A. Pursuant to an Order (the "Receivership Order") granted by the Ontario Superior Court of Justice (the "Court") on September 9, 2014, KPMG Inc. was appointed as receiver (the "Receiver") of all of the assets, undertakings and properties of Seafield Resources Ltd. ("Seafield").
B. On May 19, 2015, the Court granted an order (the "SISP Approval Order") approving a sale and investor solicitation process (the "SISP") and the SISP procedures set forth herein (these "SISP Procedures").
C. The SISP Approval Order, the SISP and these SISP Procedures shall govern the process for soliciting and selecting bids for (i) the sale of all or substantially all of the property, assets and undertakings of Seafield (the "Seafield Property"), including without limitation (a) all of the share capital of Minera (the "Minera Shares"), and (IJ) the Elora gold mine and related assets located in the Kenora Mining Division in Northwestern Ontario (the "Elora Property") (a "Sale"); (ii) the sale of all or substantially all of the property, assets, and undertakings of Minera (the "Minera Property") by Minera, subject to compliance with applicable Colombian law and approval by the Receiver acting as the authorized representative of the sole shareholder ofMinera; and (iii) for the restructuring, recapitalization or refinancing of Seafield or Minera (an "Investment").
D. All dollar amounts expressed herein, unless otherwise noted, are in Canadian currency. Unless otherwise indicated herein any event that occurs on a day that is not a Business Day shall be deemed to occur on the next Business Day.
ARTICLE 1- DEFINED TERMS
In these SISP Procedures:
(I) "Approval Hearing" has the meaning ascribed thereto in Section 5.8(1).
(2) "Backup Bid" has the meaning ascribed thereto in Section 5.6(4).
(3) "Backup Bid Expiration Date" has the meaning ascribed thereto in Section 5.6(6).
( 4) "Backup Bidder" has the meaning ascribed thereto in Section 5.6( 4).
(5) "Bid Notice" has the meaning ascribed to it in Section 4.3(5).
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..
(6) "Business Day" means any day other than (i) a Saturday or Sunday or (ii) a day which is a statutory holiday in either Toronto, Ontario or Medellin, Colombia.
(7) "Court" has the meaning ascribed thereto in Recital A.
(8) "Confidentiality Agreement" has the meaning ascribed thereto in Section 2.4(2).
(9) "Creditor Consultation Rights" has the meaning ascribed to it in Section 5.7.
(10) "Definitive Investment Agreement" has the meaning ascribed thereto in Section 5.3(a).
(11) "Deposit" has the meaning ascribed thereto in Section 5.2(i).
(12) "Elora Property" has the meaning ascribed thereto in Recital C.
(13) "Form of Purchase Agreement" means the form of purchase and sale agreement to be developed by the Receiver and provided to Qualified Phase 2 Bidders that submitted a Qualified Non-Binding Indication of Interest that is a Sale Proposal prior to the Phase 1 Bid Deadline.
(14) "Investment" has the meaning ascribed thereto in Recital C.
(15) "Investment Proposal" has the meaning ascribed thereto in Section 2.5(1)(d).
(16) "Known Potential Bidders" has the meaning ascribed thereto in Section 2.4(1).
(17) "Minera" means Seafield's wholly-owned Colombian subsidiary, Minera Seafield S.A.S.
(18) "Minera Property" has the meaning ascribed thereto in Recital C.
(19) "Minera Shares" has the meaning ascribed thereto in Recital C.
(20) "New Potential Bidder" has the meaning ascribed thereto in Section 2.4(1).
(21) "Non-Binding Indication of Interest" has the meaning ascribed thereto in Section 4.1(1).
(22) "Phase 1 Bid Deadline" has the meaning ascribed thereto in Section 4.1 (2).
(23) "Phase~ Bid Deadline" has the meaning ascribed thereto in Section 5.1.
(24) "Potential Bidder" has the meaning ascribed thereto in Section 2.5(1).
(25) "Potential Bidder Deadline" has the meaning ascribed thereto in Section 2.5(1 ).
(26) "Purchase Price" has the meaning ascribed thereto in Section 5.2(b).
(27) "Qualified Bidder" has the meaning ascribed thereto in Section 5.4(1).
(28) "Qualified Bids" has the meaning ascribed thereto in Section 5.4(1).
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(29) "Qualified Investment Bid" has the meaning ascribed thereto in Section 5.3.
(30) "Qualified Non-Binding Indication of Interest" has the meaning ascribed thereto in Section 4.2(1 ).
(31) "Qualified Phase 1 Bidder" has the meaning ascribed thereto in Section 2.5(2).
(32) "Qualified Phase 2 Bidder" has the meaning ascribed thereto in Section 4.3( 4).
(33) "Qualified Purchase Bid" has the meaning ascribed thereto in Section 5.2.
(34) "Receiver" means KPMG Inc., in its capacity as receiver of Seafield pursuant to the Receivership Order.
(35) "Receivership Order" has the meaning ascribed thereto in Recital A.
(36) "RMB" means RMB Australia Holdings Limited.
(37) "RMB Facility" means the lending facility made available to Seafield by RMB pursuant to that certain Credit Agreement dated February 21, 2013, as amended, restated, or supplemented from time to time.
(38) "Sale" has the meaning ascribed thereto in Recital C.
(39) "Sale Proposal" has the meaning ascribed thereto in Section 2.5(l)(d).
( 40) "Seafield" has the meaning ascribed thereto in Recital A.
(41) "Secured Claims Amount" means the aggregate amount owing (whether for principal, interest, fees and recoverable expenses) to the Secured Creditor, as at the date which the transactions contemplated by the Qualified Bid or Successful Bid, if any, are completed, under the RMB Facility and validly secured by the Seafield Property, all as determined by the Receiver, Court or other court of competent jurisdiction.
( 42) "Secured Creditor" means RMB or any purchaser or assignee of the RMB Facility, related security documents and indebtedness outstanding thereunder.
(43) "SISP" has the meaning ascribed thereto in Recital B.
( 44) "SISP Approval Order" has the meaning ascribed thereto in Recital B.
(45) "SISP Procedures" has the meaning ascribed thereto in Recital B.
(46). "Solicitation Process" has the meaning ascribed thereto in Section 2.1(1).
(47) "Successful Bid" has the meaning ascribed thereto in Section 5.6(4).
(48) "Successful Bidder" has the meaning ascribed thereto in Section 5.6(4).
(49) "Target Closing Date" means September 30,2015.
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171
,.
(50) "Teaser Letter" has the meaning ascribed thereto in Section 2.4(1).
ARTICLE 2- SOLICITATION
Section 2.1 Solicitation Process
(1) These SISP Procedures describe, among other things, the Seafield Property and the Minera Property available for sale, the opportunity for an investment in Seafield or Minera, the debts and equity interests of Seafield in need of restructuring, the manner in which prospective bidders may gain access to or continue to have access to due diligence materials concerning Seafield, the Seafield Property, the Minera Shares, the Minera Property, and the Elora Property, the manner in which bidders and bids become Qualified Bidders and Qualified Bids, respectively, the receipt and negotiation of bids received, the ultimate selection of one or more Successful Bids and a Backup Bid (if a Backup Bid is identified in accordance with these SISP Procedures), and the approval thereof by the Court (collectively, the "Solicitation Process").
(2) The Receiver, shall conduct the Solicitation Process as outlined herein. In the event that there is a disagreement or clarification required as to the interpretation or application of these SISP Procedures, the Court will have the jurisdiction to hear such matter and provide directions, upon application of the Receiver, or any other party, with a hearing on no less than three (3) Business Days notice.
Section 2.2 Sale and Investment Opportunity
These SISP Procedures provide for (i) a sale of all or part of the Seafield Property, (ii) a sale of all or part of the Minera Property and (iii) an investment in Seafield and/or Minera, in each case structured in a manner acceptable to the Receiver.
Section 2.3 "As Is, Where Is"
Any Sale or Investment will be on an "as is, where is" basis and without surviving representations, warranties, covenants or indemnities of any kind, nature, or description by the Receiver, Seafield or Minera or any of their agents, estates, advisors, professionals or otherwise, except to the extent set forth in the relevant agreement with the Successful Bidder.
Section 2.4 Solicitation of Interest
(1) As soon as reasonably practicable after the granting of the SISP Approval Order, the Receiver, will prepare a list of potential bidders in respect of a Sale or Investment (the "Known Potential Bidders"). The Secured Creditor may on a timely basis identify any parties to the Receiver which shall be included in the list of Known Potential Bidders. Concurrently, the Receiver, will prepare .an initial offering summary (the "Teaser Letter") notifying Known Potential Bidders of the existence of the Solicitation Process and inviting the Known Potential Bidders to express their interest in participating in a Sale or an Investment.
(2) Promptly after the granting of the SISP Approval Order, the Receiver shall distribute to the Known Potential Bidders the Teaser Letter and a form of confidentiality agreement satisfactory to the Receiver (a "Confidentiality Agreement"). The Receiver shall also issue a press release announcing this SISP.
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Section 2.5 Participation Requirements
(1) Unless otherwise provided for herein, ordered by the Court or agreed by the Receiver, in order to participate in the Solicitation Process and be considered for qualification as a Qualified Phase I Bidder, an interested party (a "Potential Bidder") must deliver the following:
(a) an executed Confidentiality Agreement, which shall inure to the benefit of any purchaser of any part of the Seafield Property or the Minera Property or any investor in Seafield or Minera;
(b) a specific indication of the anticipated sources of capital for such Potential Bidder and preliminary evidence of the availability of such capital, or such other form of financial disclosure and credit support or enhancement that will allow the Receiver and its legal and financial advisors, to make, in their reasonable business or professional judgment, a reasonable determination as to the Potential Bidder's financial and other capabilities to consummate a Sale or an Investment;
(c) a letter setting forth the identity of the Potential Bidder, the contact information for such Potential Bidder, full disclosure of the direct and indirect owners· of the Potential Bidder and their principals;
(d) an indication of whether the Potential Bidder is offering to (i) acquire all or substantially all of the Seafield Property and/or the Minera Property (a "Sale Proposal"); or (ii) make an investment in Seafield and/or Minera (an "Investment Proposal"); and
(e) a written acknowledgment of receipt of a copy of the SISP Approval Order (including these SISP Procedures) and agreeing to accept and be bound by the provisions contained therein.
(2) A Potential Bidder will be deemed a "Qualified Phase 1 Bidder" if: (a) such Potential Bidder has satisfied all of the requirements described in Section 2.5(1) above; and (b) such Potential Bidder's fmancial information and credit support or enhancement demonstrate to the satisfaction of the Receiver in its reasonable business judgment, the fmancial capability of such Potential Bidder to consummate a transaction and that such Potential Bidder is likely (based on availability of fmancing, experience and other considerations) to consummate either a Sale or an Investment. Notwithstanding the requirements set out in Section 2.5(1) (a) to (e), the Receiver may designate any Potential Bidder as a Qualified Phase I Bidder. Upon executing the Confidentiality Agreement, the Secured Creditor shall be deemed to be a Qualified Phase I Bidder.
(3) The determination as to whether a Potential Bidder is a Qualified Phase 1 Bidder pursuant to Section 2.5(2) will be made as promptly as practicable but no later than five (5) Business Days after a Potential Bidder delivers· all of the materials required above. If it is determined that a Potential Bidder is a Qualified Phase 1 Bidder, the Receiver will promptly notifY the Potential Bidder that it is a Qualified Phase 1 Bidder.
( 4) If it is determined in accordance with Section 2.5(2) above, that there are no Qualified Phase 1 Bidders and that, as a consequence, proceeding with these SISP Procedures is not in the
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best interests of Seafield or its stakeholders, the Receiver shall notify the Secured Creditor forthwith, and within five (5) Business Days of such determination, file an application with the Court seeking directions with respect to the conduct of the SISP.
ARTICLE 3- DUE DILIGENCE
(1) As soon as practicable after the determination that a party is a Qualified Phase 1 Bidder, the Receiver will make available to such Qualified Phase 1 Bidder in a secure online electronic data room confidential due diligence information regarding (i) the Seafield Property and the Minera Property available for sale, and (ii) the debt and equity interests in Seafield and Minera. At the request of a Qualified Phase 1 Bidder, such confidential due diligence information shall also be provided on a confidential basis to a proposed lender of such Qualified Phase 1 Bidder that is reasonably acceptable to the Receiver.
(2) Each Qualified Phase I Bidder shall have such access to due diligence materials and information relating to the Seafield Property, the Minera Property and the debt and equity interests in Seafield and Minera, as the Receiver deems appropriate ..
(3) At the discretion of the Receiver due diligence access may include presentations (as may be scheduled by the Receiver), access to physical and secure online electronic data rooms, on-site inspections and such other matters as a Qualified Phase I Bidder or Qualified Phase 2 Bidder may reasonably request and as to which the Receiver, in its reasonable business judgment deems appropriate. The Receiver shall not be obligated to furnish any due diligence materials or information after the Phase 2 Bid Deadline.
(4) Without limiting the generality of any term or condition of any confidentiality agreement between the Receiver and any Potential Bidder, Qualified Phase 1 Bidder, Qualified Phase 2 Bidder, Successful Bidder or Backup Bidder, unless otherwise agreed by the Receiver or by further order of the Court, no Potential Bidder, Qualified Phase 1 Bidder, Qualified Phase 2 Bidder, Successful Bidder or Backup Bidder shall be permitted to have any discussions with any counterparty to any contract with Seafiled or Minera, any current or former director, officer or employee of Seafield or Minera, or with any regulatory authority responsible for Seafield, Minera or any of their businesses or any other Potential Bidder, Qualified Phase 1 Bidder or Qualified Phase 2 Bidder in connection with a Non-Binding Indication of Interest or any other bid submitted in accordance with the terms hereof or in contemplation thereof.
(5) The Receiver is not responsible for, and will have no liability with respect to, any information obtained by any Known Potential Bidder, Potential Bidder or Qualified Bidder in connection with the Seafield Property, Minera Property, a Sale Transaction or Investment. The Receiver does not make any representations or warranties whatsoever as to the information or the materials provided, except, to the extent the information is provided under any definitive sale or investment agreement executed and delivered by a Successful Bidder or Backup Bidder.
ARTICLE 4- PHASE 1
Section 4.1 Seeking Non-Binding Indications of Interest by Qualified Phase 1 Bidders
(1) From the date of the SISP Approval Order until the Phase 1 Bid Deadline, in accordance with the terms of the SISP Approval Order and these SISP Procedures, the Receiver will seek to
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identifY and qualifY Qualified Phase 1 Bidders, and will solicit non-binding indications of interest from Qualified Phase 1 Bidders to acquire all, or substantially all of the Seafield Property or the Minera Property or to invest in Seafield and/or Minera (each a "Non-Binding Indication of Interest").
(2) Subject to Section 4.3(5), in order to continue to participate in the SISP Process, a Qualified Phase 1 Bidder must deliver a Non-Binding Indication of Interest to the Receiver so as to be received by the Receiver not later than 5:00p.m. (Toronto time) on July 15, 2015, or such later date or time as the Receiver may determine appropriate (the "Phase 1 Bid Deadline").
Section 4.2 Non-Binding Indications of Interest by Qualified Phase 1 Bidders
(1) Unless otherwise ordered by the Court or agreed by the Receiver, a Non-Binding Indication of Interest will be considered a "Qualified Non-Binding Indication oflnterest" only if it is submitted by a Qualified Phase 1 Bidder, received on or before the Phase 1 Bid Deadline, and contains the following information:
(a) An indication of whether the Qualified Phase 1 Bidder is offering to (i) make a Sale Proposal; or (ii) make an Investment Proposal;
(b) In the case of a Sale Proposal, it shall identifY
i. the purchase price (including liabilities to be assumed by the Qualified Phase 1 Bidder);
n. the assets included, any of the assets expected to be excluded, and/or any additional assets desired to be included in the transaction;
111. the structure and financing of the transaction (including, but not limited to, the sources of financing for the purchase price, preliminary evidence of the availability of such financing and the steps necessary and associated timing to obtain the financing and consummate the proposed transaction and any related contingencies, as applicable);
iv. an acknowledgement that the contemplated sale will be made on an "as is where is" basis;
v. the proposed treatment of employees of Minera;
VI. the key material contracts and leases, if any, the Qualified Phase 1 Bidder wishes to acquire and the Qualified Phase 1 Bidder's proposed treatment of related cure costs, if any;
vii. any anticipated corporate, shareholder, internal or regulatory approvals, including without limitation any approvals with respect to the grant or transfer of any mining permits or licenses, required to close the transaction and the anticipated time frame and any anticipated impediments for obtaining such approvals;
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viii. a timeline to closing with critical milestones and a statement with respect to the Qualified Phase I Bidder's ability to consummate the contemplated transaction by the Target Closing Date;
ix. a detailed description of any additional due diligence required or desired to be conducted prior to the Phase 2 Bid Deadline, if any;
x. contact information for any business, financial or legal advisors retained or to be retained in connection with the contemplated transaction;
x1. a specific indication of sources of capital for the Qualified Phase I Bidder and preliminary evidence of the availability of such capital, or such other form of financial disclosure and credit-quality support or enhancement, including contact information for capital/fmancing sources, that will allow the Receiver to make a reasonable business judgement as to the Qualified Phase 1 Bidder's financial or other capabilities to consummate the contemplated transaction;
xii. any conditions to closing that the Qualified Phase 1 Bidder may wish to impose; and
xiii. any other terms or conditions of the Sale Proposal which the Qualified Phase 1 Bidder believes are material to the transaction;
(c) In the case of an Investment Proposal, it shall identify:
(i) the aggregate amount of the equity and debt investment (including, the sources of such capital, preliminary evidence of the availability of such capital and the steps necessary and associated timing to obtain the capital and consummate the proposed transaction and any related contingencies, as applicable) to be made in Seafield or Minera;
(ii) the underlying assumptions regarding the pro forma capital structure (including, the anticipated debt levels, debt service fees, interest and amortization);
(iii) the consideration to be allocated to the stakeholders including claims of any secured or unsecured creditors of Seafield and Minera and the proposed treatment of employees;
(iv) the structure and fmancing of the transaction including all requisite fmancial assurance including a specific indication of sources of capital for the Qualified Phase 1 Bidder and preliminary evidence of the availability of such capital, or such other form of financial disclosure and credit-quality support or enhancement, including contact information for capital/financing sources, that will allow the Receiver to make a reasonable business judgement as to the Qualified Phase 1 Bidder's financial or other capabilities to consummate the contemplated transaction;
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(v) any anticipated corporate, shareholder, internal or regulatory approvals, including without limitation any approvals with respect to the grant or transfer of any mining permits or licenses, required to close the transaction, the anticipated time frame and any anticipated impediments for obtaining such approvals;
(vi) the proposed corporate goverance structure of the entity or entities owning/operating the business, following implementation of the investment
(vii) contact information for any business, financial or legal advisors retained or to be retained in connection with the contemplated transaction;
(viii) additional due diligence required or desired to be conducted prior to the Phase 2 Bid Deadline, if any;
(ix) a timeline to closing with critical milestones and a statement with respect to the Qualified Phase 1 Bidder's ability to consummate the contemplated transaction by the Target Closing Date;
(x) to the extent not addressed elsewhere, the proposed treatment of stakeholders, including lenders, trade creditors, shareholders and employees;
(xi) any conditions to closing that the Qualified Phase 1 Bidder may wish to impose;
(xii) any other terms or conditions of the Investment Proposal which the Qualified Phase 1 Bidder believes are material to the transaction; and
(d) Such other information reasonably requested by the Receiver.
(2) The Receiver may waive compliance with any one or more of the requirements specified herein and deem any non-compliant Non-Binding Indication of Interest to be a Qualified Non-Binding Indication of Interest.
Section 4.3 Assessment of Qualified Non-Binding Indications of Interest and Determination of Qualified Phase 2 Bidders
(1) Subject to Section 4.3(7) and Section 5.7, the Receiver will provide copies of any Qualified Non-Binding Indications of Interest received to the Secured Creditor.
(2) The Receiver will assess any Qualified Non-Binding Indications of Interest received, and will determine whether proceeding with these SISP Procedures on the basis of such Qualified Non-Binding Indications of Interest is in the best interests of Seafield and its stakeholders. Such assessment will be made as promptly as practicable after the Phase I Bid Deadline.
(3) If the Receiver, in accordance with Section 4.2 above, determines that no Qualified Non-Binding Indication of Interest was received, the Receiver shall advise the Secured Creditor
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forthwith, and within five ( 5) Business Days of the Phase 1 Bid Deadline, file an application with the Court seeking directions.
( 4) If the Receiver, in accordance with Section 4.2 above, determines that (i) one or more Qualified Non-Binding Indications oflnterest were received, and (ii) proceeding with these SISP Procedures is in the best interests of Seafield and its stakeholders, these SISP Procedures will continue and each Qualified Phase 1 Bidder who has submitted a Qualified Non-Binding Indication of Interest that is determined by the Receiver on consideration of the information delivered at Section 4.2(1), likely be consummated, shall be deemed to be a "Qualified Phase 2· Bidder". Subject to the restrictions set out in Section 5.7, the Receiver shall provide advance written notice of the commencement of Phase 2 and the names of the Qualified Phase 2 Bidders to the Secured Creditor.
(5) Notwithstanding any other provision in these SISP Procedures, the Secured Creditor shall, subject to executing the Confidentiality Agreement, be deemed to be a Qualified Phase 2 Bidder even if it did not submit a Non-Binding Indication of Interest. Subject to the restrictions and limitations set out in Section 4.3(7) and Section 5.7, the Secured Creditor shall be permitted to submit a Qualified Purchase Bid or Qualified Investment Bid, provided that the Secured Creditor declares its intention to do so within 5 business days of the commencement of Phase 2 by delivering written notice thereof to the Receiver (the "Bid Notice"). The Bid Notice shall contain the amount of the Secured Creditor's bid together with a summary of all material terms of the bid. The Secured Creditor shall not be entitled to increase the amount of its bid following delivery of the Bid Notice. The Receiver shall forthwith provide a copy of the Secured Creditor's Bid Notice to all Qualified Phase 1 Bidders.
(6) If the Secured Creditor does not submit a Bid Notice within 5 business days of the commencement of Phase 2 then the Secured Creditor will not be permitted to submit any bid thereafter, save and except for in the circumstances described in Section 5.5(2).
(7) Notwithstanding any other provision of this SISP, to the extent that the Secured Creditor or any employee, officer, director or partner of the Secured Creditor or any of its affiliates, at any time received copies of any Qualified Non-Binding Indication of Interest or information regarding the proposed consideration to be paid by the bidder in such a Qualified Non-Binding Indication oflnterest, the Secured Creditor shall not be permitted to submit any bid that provides for consideration that exceeds the amount of the Secured Claims Amount.
ARTICLE 5- PHASE 2
Section 5.1 Seeking Qualified Bids by Qualified Phase 2 Bidders
In order to continue to participate in the Solicitation Process, a Qualified Phase 2 Bidder must deliver a Qualified Purchase Bid or Qualified Investment Bid to the Receiver and such bids must be received by the Receiver by no later than 5:00p.m. (Toronto time) on August 19, 2015, or such later date or time as the Receiver may determine appropriate (the "Phase 2 Bid Deadline").
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Section 5.2 Qualified Purchase Bids
A Sale Proposal submitted by a Qualified Phase 2 Bidder will be considered a "Qualified Purchase Bid" only if the Sale Proposal complies with all of the following:
(a) it includes a letter stating that the Sale Proposal is irrevocable until the earlier of (a) the approval by the Court of a Successful Bid, and (b) 45 Business Days following the Phase 2 Bid Deadline; provided, however, that if such Sale Proposal is selected as the Successful Bid or the Backup Bid, it shall remain irrevocable until the closing of the Successful Bid or the Backup Bid, as the case may be;
(b) it includes a duly authorized and executed purchase and sale agreement substantially in the Form of Purchase Agreement specifying the purchase price, expressed in Canadian dollars (the "Purchase Price"), together with all exhibits and schedules thereto, and such ancillary agreements as may be required by the Qualified Phase 2 Bidder with all exhibits and schedules thereto (or term sheets that describe the material tenus and provisions of such ancillary agreements) and such ancillary agreements and the proposed orders to approve the sale by the Court, as well as copies of such materials marked to show the amendments and modifications to the Form of Purchase Agreement;
(c) it does not include any request or entitlement to any break-fee, expense reimbursement or similar type of payment. Further, by submitting a Sale Proposal, a Qualified Phase 2 Bidder shall be deemed to waive its right to pursue a substantial contribution claim in any way related to the submissions of its Sale Proposal or these SISP Procedures;
(d) it includes evidence sufficient to allow the Receiver to make a reasonable determination as to the bidder's (and its direct and indirect owners' and their principals') financial and other capabilities to consummate the transaction contemplated by the Sale Proposal, which evidence could include but is not limited to evidence of a firm, irrevocable commitment for all required funding and/or fmancing from a creditworthy bank or financial institution;
(e) it is not conditioned on (i) the outcome of unperformed due diligence by the bidder and/or (ii) obtaining any financing capital and includes an acknowledgement and representation that the bidder has had an opportunity to conduct any and all required due diligence prior to making its Sale Proposal;
(f) it fully discloses the identity of each entity that is bidding or otherwise that will be sponsoring or participating in the Sale Proposal, including the identification of the Qualified Phase 2 Bidder's direct and indirect owners and their principals, and the complete terms of any such participation;
(g) it includes an acknowledgement and representation that the Qualified Phase 2 Bidder: (i) has relied solely upon its own independent review, investigation and/or inspection of any documents and/or the assets to be acquired and liabilities to be assumed in making its Sale Proposal; (ii) did not rely upon any written or oral statements, representations, promises, warranties or guaranties whatsoever,
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whether express or implied (by operation of law or otherwise), regarding the assets to be acquired or liabilities to be assumed or the completeness of any information provided in connection therewith, including by the Receiver, or any of its advisors, except as expressly stated in the purchase and sale agreement submitted by it; (iii) is a sophisticated party capable of making its own assessments in respect of making its Sale Proposal; and (iv) has had the benefit of independent legal advice in connection with its Sale Proposal;
(h) it includes evidence, in form and substance reasonably satisfactory to the Receiver, of authorization and approval from the Qualified Phase 2 Bidder's board of directors (or comparable governing body) with respect to the submission, execution, delivery and closing of the transaction contemplated by the Sale Proposal;
(i) it is accompanied by a refundable deposit (the "Deposit") in the form of a wire transfer (to a trust account specified by the Receiver), or such other form acceptable to the Receiver, payable to the order of KPMG Inc., in trust, in an amount equal to 5% of the proposed gross purchase price, to be held and dealt with in accordance with these SISP Procedures;
G) it contains full details of the proposed number of employees of Minera who will become employees of the Qualified Phase 2 Bidder and the proposed terms and conditions of employment to be offered to those employees;
(k) it includes an acknowledgement and representation that the Qualified Phase 2 Bidder will assume the obligations of Seafield or Minera under executory contracts, unexpired leases, and licences proposed to be assigned (or identifies with particularity which of such contracts, leases, and licenses of Seafield or Minera, as applicable, that the Qualified Phase 2 Bidder wishes not to assume, or alternatively wishes to assume), contains full details of the Qualified Phase 2 Bidder's proposal for the treatment of related cure costs; and which of these the assumption of which is a condition of closing;
(1) it provides for closing of the Qualified Purchase Bid by no later than the Target Closing Date;
(m) if the Qualified Phase 2 Bidder is an entity newly formed for the purpose of the transaction, the bid shall contain an equity or debt commitment letter from the parent entity or sponsor, which is satisfactory to the Receiver, that names the Receiver as a third party beneficiary of any such commitment letter with recourse against such parent entity or sponsor;
(n) it includes evidence, in form and substance reasonably satisfactory to the Receiver, of compliance or anticipated compliance with any and all applicable Canadian, Colombian and any foreign regulatory approvals (including, if applicable, anti-trust regulatory approval and any approvals with respect to the grant or transfer of any mining permits or licenses), the anticipated time frame for such compliance and any anticipated impediments for obtaining such approvals;
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( o) it contains other information reasonably requested by the Receiver; and
(p) it is received by no later than the Phase 2 Bid Deadline.
Section 5.3 Qualified Investment Bids
An Investment Proposal submitted by a Qualified Phase 2 Bidder will be considered a "Qualified Investment Bid" only if the Investment Proposal complies with all of the following:
(a) it includes duly authorized and executed binding definitive documentation setting out the terms and conditions of the proposed transaction, including the aggregate amount of the proposed equity and/or debt investment and details regarding the proposed equity and/or debt structure of Seafield and/or Minera, if applicable, following completion of the proposed transaction (a "Definitive Investment Agreement");
(b) it includes a letter stating that the Investment Proposal is irrevocable until the earlier of (a) approval by the Court of a Successful Bid, and (b) 45 Business Days following the Phase 2 Bid Deadline; provided, however, that if such Investment Proposal is selected as the Successful Bid or Backup Bid, it shall remain irrevocable until the earlier of (i) the closing of the Successful Bid or the Backup Bid, as the case may be, and (ii) the outside date stipulated in the Successful Bid or the Backup Bid, as applicable;
(c) it does not include any request or entitlement to any break-fee, expense reimbursement or similar type of payment. Further, by submitting an Investment Proposal, the Qualified Phase 2 Bidder shall be deemed to waive its right to pursue a substantial contribution claim in any way related to the submission of its Investment }'roposal or these SISP Procedures;
(d) it includes written evidence of a firm, irrevocable commitment for all required funding and/or financing from a creditworthy bank or financial institution to consummate the proposed transaction, or other evidence satisfactory to the Receiver, to allow the Receiver to make a reasonable determination as to the Qualified Phase 2 Bidder's financial and other capabilities to consurmnate the transaction contemplated by the Investment Proposal;
(e) it is not conditioned on (i) the outcome of unperformed due diligence by the Qualified Phase 2 Bidder and/or (ii) obtaining any financing capital and includes an acknowledgement and representation that the Qualified Phase 2 Bidder has had an opportunity to conduct any and all required due diligence prior to making its bid;
(f) it fully discloses the identity of each entity that is bidding or otherwise that will be sponsoring or participating in the Investment Proposal, including the identification of the Qualified Phase 2 Bidder's direct and indirect owners and their principals, and the complete terms of any such participation;
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(g) it includes an acknowledgement and representation that the Qualified Phase 2 Bidder: (i) has relied solely upon its own independent review, investigation and/or inspection of any documents in making its Investment Proposal; (ii) did not rely upon any written or oral statements, representations, promises, warranties or guaranties whatsoever, whether express or implied (by operation of law or otherwise), regarding the business of Seafield or Minera, or the completeness of any information provided in connection therewith, including by the Receiver or any of its advisors, except as expressly stated in the Definitive Investment Agreement; (iii) is a sophisticated party capable of making its own assessments in respect of making its Investment Proposal; and (iv) has had the benefit of independent legal advice in connection with its Investment Proposal;
(h) it includes evidence, in form and substance reasonably satisfactory to the Receiver, of authorization and approval from the Qualified Phase 2 Bidder's board of directors (or comparable governing body) with respect to the submission, execution, delivery and closing of the transaction contemplated by the Investment Proposal;
(i) it is accompanied by a Deposit in the form of a wire transfer (to a trust account specified by the Receiver), or such other form acceptable to the Receiver, payable to the order of KPMG Inc., in trust, in an amount equal to 5% of the total proposed investment, to be held and dealt with in accordance with these SISP Procedures;
G) it provides for closing of the Qualified Investment Bid by no later than the Target Closing Date;
(k) if the Qualified Phase 2 Bidder is an entity newly formed for the purpose of the transaction, the Investment Proposal shall contain an equity or debt commitment letter from the parent entity or sponsor, and satisfactory to the Receiver, that names the Receiver as a third party beneficiary of any such commitment letter with recourse against such parent entity or sponsor;
(1) it includes evidence, in form and substance reasonably satisfactory to the Receiver, of compliance or anticipated compliance with any and all applicable Canadian, Colombian, and foreign regulatory approvals (including, if applicable, anti-trust regulatory approval), the anticipated time frame for such compliance and any anticipated impediments for obtaining such approvals;
(m) it contains other information reasonably requested by the Receiver; and
(n) it is received by no later than the Phase 2 Bid Deadline.
Section 5.4 Qualified Bids
(1) Qualified Purchase Bids and Qualified Investment Bids shall hereinafter be referred to as "Qualified Bids" and each a "Qualified Bid" and each bidder who has submitted a Qualified Bid shall hereinafter be referred to as a "Qualified Bidder".
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(2) Notwithstanding Section 5.2 and Section 5.3 hereof, the Receiver may waive compliance with any one or more of the Qualified Bid requirements specified herein, and deem such non-compliant bids to be Qualified Purchase Bids or Qualified Investment Bids, as the case may be.
Section 5.5 No Qualified Bids
(I) The Receiver will assess the Qualified Bids received, if any, and will determine whether it is likely that the transactions contemplated by such Qualified Bids are likely to be consummated and whether proceeding with these SISP Procedures is in the best interests of Seafield and its stakeholders. Such assessments will be made as promptly as practicable but no later than five (5) Business Days after the Phase 2 Bid Deadline, provided that such time period may be extended upon the consent of the Receiver or order of the Court upon application and appropriate notice.
(2) If the Receiver, in accordance with Section 5.5(1) above, detennines that (a) no Qualified Bid was received, or (b) at least one Qualified Bid was received but it is not likely that the transactions contemplated in any such Qualified Bids will be consummated, the Receiver shall notifY the Secured Creditor forthwith, and within ten (1 0) Business Days of such detennination, file ·an application with the _Court seeking directions. In the circumstances described in this subsection, the Secured Creditor shall have the option within five (5) business days from such determination to submit a credit bid (that would constitute a binding agreement if accepted) even if they did not submit a credit bid at any other point during Phase 1 or Phase 2, and notwithstanding the receipt of any new information regarding bids or offers after the commencement of Phase 2.
Section 5.6 Selection Criteria
(1) In selecting the Successful Bid, the Receiver will review each Qualified Bid. Evaluation criteria with respect to a Sale Proposal may include, but are not limited to items such as: (a) the purchase price and the net value (including assumed liabilities and other obligations to be perfonned or assumed by the bidder) provided by such bid; (b) the claims likely to be created by such bid in relation to other bids; (c) the counterparties to the transaction; (d) the proposed revisions to the Fonn of Purchase Agreement and the tenns of the transaction documents; (e) other factors affecting the speed, certainty and value of the transaction (including any regulatory approvals required to close the transaction); (f) the assets included or excluded from the bid and the transaction costs and risks associated with closing multiple transactions versus a single transaction for all or substantially all of the Seafield Property and/or the Minera Property; (g) the estimated number of employees of Minera that will be offered post closing employment by the bidder and any proposed measures associated with their continued employment; (h) the transition services required from Seafield or Minera post-closing and any related restructuring costs; and (i) the likelihood and timing of consummating the transaction by the Target Closing Date.
(2) Evaluation criteria with respect to an Investment Proposal may include, but are not limited to items such as: (a) the amount of equity and debt investment and the proposed sources and uses of such capital; (b) the debt to equity structure post-closing; (c) the counterparties to the transaction; (d) the tenus of the transaction documents; (e) other factors affecting the speed, certainty and value of the transaction; (f) planned treatment of stakeholders; and (g) the. likelihood and timing of consummating the transaction by the Target Closing Date ..
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(3) The Receiver may select Qualified Bids for further negotiation and/or clarification of any terms or conditions of such Qualified Bids, including the amounts offered, before identifYing the highest or otherwise best Qualified Bid(s) received (the "Successful Bid").
(4) Upon completion of any further negotiations or clarifications that may be conducted pursuant to Section 5.4(3) above, the Receiver will identify the Successful Bid and may identify a next highest or otherwise best Qualified Bid received (such offer, the "Backup Bid"). The Qualified Bidders(s) who made the Successful Bid is/are the "Successful Bidder" and the Qualified Bidder( s) who made the Backup Bid (if a Backup Bid is identified in accordance with these SISP Procedures) is/are .the "Backup Bidder"). The Receiver will notify the Successful Bidder and any Backup Bidder that they are, respectively, the Successful Bidder and the Backup Bidder.
(5) The Receiver will finalize definitive agreements in respect of the Successful Bid and the Backup Bid (if a Backup Bid is identified in accordance with these SISP Procedures), if any, conditional upon approval by the Court.
(6) If a Backup Bid is identified in accordance with these SISP Procedures, then such Backup Bid shall remain open until the consummation of the transaction contemplated by the Successful Bid (the "Backup Bid Expiration Date").
(7) All Qualified Bids (other than the Successful Bid and any Backup Bid identified in accordance with these SISP Procedures) shall be deemed rejected by the Receiver on and as of the date of approval of the Successful Bid or any Backup Bid by the Court.
Section 5. 7 Secured Creditor Consultation and Consent
(1) For the purposes of the Solicitation Process and these SISP Procedures, and notwithstanding any other provision in these SISP Procedures, any requirement for the Receiver to: (a) consult with the Secured Creditor, and (b) provide copies of any expressions of interest, bids or other offers submitted in connection with the Solicitation Process or these SISP Procedures (collectively, the "Creditor Consultation Rights") shall all be subject to the terms, conditions and limitations contained in this Section 5.7.
(2) Subject to subsection 5.7(3), the Creditor Consultation Rights shall be suspended for the period commencing on the earlier of (x) the date that a Non-Binding Indication of Interest Qualified Purchase Bid, Qualified Investment Bid (including any credit bid) is actually s · <01 ..JJUJ by the Secured Creditor (y) the date that a Bid Notice is issued by the Secured Cr itor as e.¥>\1·~12-l required by Section 4.3(5); provided, however, such Creditor Consultation Rights shal resume o-/ ,e.cl on the date when the Non-Binding Indication of Interest, Qualified Purchase Bid or ualified SJ_I).IAI Investment Bid, as applicable, submitted by the Secured Creditor has been rejected d is no Gr~ longer being considered by the Receiver, as evidenced by written notice to the Secur Creditor ot from the Receiver. F<ir greater certainty, during any period of time during which e Secured Creditor's Creditor Consultation Rights are suspended, no officer, directol).er partner er any of its affiliates shall be entitled to receive any information contemplate([ under the Credito~(~ Consultation Rights, unless and until the Receiver has selected a Successful Bid. r ·
(3) The suspension of Creditor Consultation Rights pursuant to Section 5.7(2) will not apply in the case of an Indication of Interest, Qualified Purchase Bid or Qualified Investment Bid that
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is submitted by the Secured Creditor which (a) is a credit bid that involves consideration (excluding assumed obligations) that does not exceed the Secured Claims Amount as determined by the Receiver, and (b) is delivered with a binding covenant and undertaking by the Secured Creditor in favour of the Receiver covenanting and undertaking that no change shall be made to the economic terms of the offer or bid from and after the date of its submission and the key terms of such bid are disclosed to other interested parties.
(4) For the purposes of the Solicitation Process and these SISP Procedures, prior to obtaining any Creditor Consultation Rights the Secured Creditor shall be required to execute a confidentiality agreement with the Receiver.
(5) The Receiver will not provide to the Secured Creditor any new information regarding bids obtained from the commencement of Phase 2 until the expiry of the period to submit a Bid Notice.
Section 5.8 Approval Hearing
(1) After definitive agreements in respect of a Successful Bid and Backup Bid (if a Backup Bid is identified in accordance with these SISP Procedures) have been finalized, in the case of the Successful Bid, signed (conditional on court approval) and, in the case of the Backup Bid signed (conditional on non-completion of the Successful Bid and on court approval) in accordance with these SISP Procedures, Seafield shall seek a hearing as soon as practicable on a date to be scheduled by the Court that will permit not less than 2 full business Days' notice to the service list (the "Approval Hearing") to approve the Successful Bid or to approve Seafield causing Minera to enter into an agreement with respect to the Successful Bid and to enter into an agreement with respect to the Backup Bid. The Approval Hearing may be adjourned or rescheduled by the Receiver, without further notice, by an announcement of the adjourned date at the Approval Hearing.
(2) If, following approval of the Successful Bid transaction by the Court, the Successful Bidder fails to consummate the transaction for any reason, then the Backup Bid, if there is one, will be deemed to be the Successful Bid hereunder and the Receiver shall effectuate a transaction with the Backup Bidder subject to the terms of the Backup Bid, without further order of the Court.
Section 5.9 Deposits
(1) All Deposits shall be retained by the Receiver and invested in an interest bearing trust account in a Schedule I Bank in Canada. If there is a Successful Bid, the Deposit (plus accrued interest) paid by the Successful Bidder whose bid is approved pursuant to the Approval Hearing shall be applied to the purchase price to be paid or investment amount to be made by the Successful Bidder upon closing of the Successful Bid. The Deposit (plus accrued interest) paid by the Backup Bidder, if there is one, shall be retained by the Receiver until the Backup Bid Expiration Date or, if the Backup Bid becomes the Successful Bid, shall be applied to the purchase price to be paid or investment amount to be made by the Backup Bidder upon closing of the Backup Bid. The Deposits (plus applicable interest) of all Phase 2 Bidders not selected as the Successful Bidder or Backup Bidder shall be returned to such bidders without interest within five (5) Business Days of the later of the date upon which the Successful Bid and any Backup Bid are approved by the Court. If these SISP Procedures are terminated in accordance with the
- 17 SALE AND INVESTOR SOLICITATION
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provisions hereof, all Deposits shall be returned to the bidders without interest within five (5) Business Days of the date upon which these SISP Procedures are terminated.
(2) If an entity selected as the Successful Bidder or Backup Bidder breaches its obligations to close, it shall forfeit its Deposit to the Receiver; provided. however. that the forfeiture of such Deposit shall be in addition to, and not in lieu of, any other rights in law or equity that the Receiver has or may have against such breaching entity.
Section 5.10 Approvals
For greater certainty, the approvals required pursuant to the terms hereof are in addition to, and not in substitution for, any other approvals required by any Canadian, Colombian, or other foreign statute or are otherwise required at law in order to implement a Successful Bid or Backup Bid, as the case may be.
Section 5.11 Notice to the Receiver
Any notice or other communication to be given to the Receiver in connection with this SISP shall be given in writing and shall be given by personal delivery (in which case it shall be left with a responsible officer of the recipient) or by electronic communication addressed to the Receiver as follows:
KPMGinc. 333 Bay Street- Suite 4600 Toronto, ON M5H 2S5 Attention: Phil Reynolds and Ryan Adlington Telephone No.: 416-777-8500 Facsimile No.: 416-777-3364 Email: [email protected]
with a copy to:
McMillan LLP Brookfield Place, Suite 4400 181 Bay Street Toronto, ON M5J 2T3 Attention: Wae1 M. Rostom and Jennifer Cockbill Telephone No.: 416.865.7790 Facsimile No.: 416.865.7048 Email: [email protected]
Section 5.12 Reservation of Rights
(1) The Receiver (a) reject, at any time any bid that is (i) inadequate or insufficient, (ii) not in conformity with the requirements of these SISP Procedures or any orders of the Court applicable to Seafield, or (iii) contrary to the best interests of Seafield, its estate, and stakeholders as determined by the Receiver; (b) in accordance with the terms hereof accept bids not in
- 18 SALE AND INVESTOR SOLICITATION
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conformity with these SISP Procedures to the extent that the Receiver determines, in its reasonable business judgment, that doing so would benefit Seafield, its estate, and stakeholders; and (c) in accordance with the terms hereof extend the Potential Bidder Deadline, Phase 1 Bid Deadline or Phase 2 Bid Deadline; and (d) reject all bids. The Receiver shall not be required to accept the highest bid, but shall be entitled to recommend to the Court a transaction that in its view maximizes value for all stakeholders.
(2) These SISP Procedures do not, and shall not be interpreted to, create any contractual or other legal relationship between the Receiver on the one hand and any Known Potential Bidder, Potential Bidder, Qualified Potential Bidder, Qualified Phase 1 Bidder, Qualified Phase 2 Bidder, Qualified Bidder, Successful Bidder or Backup Bidder, on the other hand, except as specifically set forth in definitive agreements that may be executed by the Receiver.
(3) Subject to the restrictions and limitations set out in Section 5.7, the Receiver will consult with the Secured Creditor.
Section 5.13 Further Orders
At any time during the SISP, the Receiver may apply to the Court for directions with respect to the discharge of its powers and duties hereunder.
Section 5.14 Credit Bid
These SISP Procedures permit the Secured Creditors to submit a credit bid, provided such credit bid is in accordance with the terms and conditions of these SISP Procedures and in accordance with applicable law.
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AppendixJ
Summary schedule of Receiver and Receiver's counsel professional fees
PagellO
189
~lfffie~taftCF:Orflt~WC~~eiifRCSot~ft~L~ ~~~~--~~---- ~~-~~------ ~----~~----, ~--'Sj
Summa~· ofRec~\\'4,"r :~nU ke£eh~Fs: toullstljli;'(lf'csslnliAl fees -._-;j :PeriOd Stptcmlilir2J1N "F~bruary 2016 In CAD Fees altd I ' Sen·ice Perind Dl'!bui'$CUICtU Status Notes DisbU:rwmcnts SlllC:J Tax TofatAiiiQunt
KPMG Inc. September 9, 2014- September 30,2014 Paid 114,078 14,830 128,908 October 1, 2014 to November 30,2014 Paid 77,929 10,131 88,060 December 1, 2014- April 30,2015 Fees Paid HST Undisbursed 242,631 31,542 274,173 May l, 2015- May 31, 2015 Fees Paid HST Undisbursed 113,221 14,719 127,940 June l,2015-June30,20I5 Fees Paid HST Undisbursed 72,180 9,383 81,564 July I, 2015- Dec 31, 2015 Undisbursed 194,573 22,253 216,825 Month of January 2016 Undisbursed 2 50,000 6,500 56,500
Total KPMG Inc. 864,612 109,358 973,970
McMillan Fees September 9, 2014 ·September 30, 2014 Paid 88,554 11,228 99,782 October I, 2014 ·October 31,2014 Paid 45,263 5,866 51,129 November 1, 2014- November 30,2014 Paid 30,152 3,920 34,072 November26, 2014- December 31,2014 Paid 47,999 6,240 54,239 January I, 2015- March 30, 2015 Paid 16,713 2,173 18,886 April!, 2015 ·April 30,2015 Paid 32,591 4,237 36,828 May I, 2015 ·May 29, 2015 Paid 62,969 8,186 71,155 June I, 2015- June 30, 20I5 Paid 9,997 1,300 11,296 July 2, 2015- July 31,2015 Undisbursed 13,382 1,740 15,122 August 3, 2015- August 28,2015 Undisbursed 6,135 798 6,933 August 21, 2015- September 30, 2015 Undisbursed 30,034 3,882 33,917 November I, 2015 ·November 30, 20I5 Undisbl!rsed 5,781 751 6,532 December I, 2015- December 31,2015 Undisbursed 18,711 2,431 21,142 Month of Jaimary 2016 Undisbursed 2 30,000 3,900 33,900
Total McMillan 438,280 56,651 494,931
PPU Fees September 12, 2014- September 19, 2014 Paid 14,787 2,366 17,153 September 22,2014- October 2, 2014 Paid 22,965 3,674 26,639 October 3, 2014 ·October 31, 20I4 Paid 49,915 7,986 57,901 November 4, 2014- November 27, 2014 Paid 25,001 4,000 29,001 December I, 20I4- December 30,2014 Paid 44,630 7,14I 51,771 January l, 2015- January 30, 2015 Paid 7,119 1,139 8,258 February 2, 2015- February 27, 2015 Paid 9,721 1,555 11,277 March 3, 2015 ·March 3I, 2015 Paid 17,800 2,848 20,648 Apri11,2015-Apri129,2015 Paid 19,012 3,042 22,054 May 5, 20I5- May 23, 2015 Paid 2,577 412 2,990 June 3, 2015- June 22,2015 Paid 4,981 797 5,778 July 2, 2015 ·July 31,2015 Undisbursed 26,153 4,184 30,337 August 3, 2015- August 31, 2015 Undisbursed 18,I41 2,903 21,044 September 18, 2015- September 30, 2015 Undisbursed I1,942 I,9I1 13,853 October I, 2015- October 30,20I5 Undisbursed 2,417 387 2,804 November 19, 2015- November 20,2015 Undisbursed 2,760 442 3,202 November 21,2015- December23, 20I5 Undisbursed 2 5,742 919 6,66I December 24, 2015- mid January2016 Undisbursed 2 23,810 3,8IO 27,620 Handling Undisbursed 137 137
TotalPPU 309,612 49,516 359,128
Total Professional Fees 1,612,504 215,525 I,828,D28
Note 1 PPU invoices were converted from USD to CAD at 1.4006. Note2 Estimated fees until discharge.
190
TAB3
Court File No. CV-14-10686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE- COMMERCIAL LIST
IN THE MATTER OF THE RECEIVERSHIP OF SEAFIELD RESOURCES LTD.
AFFIDAVIT OF PIDLIP REYNOLDS (sworn JANUARY 25, 2016)
I, PIDLIP REYNOLDS, of the City of Toronto, in the Province of Ontario,
MAKE OATH AND SAY:
I. I am a partner at KPMG Inc. ("KPMG") and, as such, have knowledge of the
matters hereinafter deposed to. Unless I indicate to the contrary, the facts herein are within
my personal knowledge and are true. Where I have indicated that I have obtained facts
from other sources, I believe those facts to be true.
2. On September 9, 2014, pursuant to an order of the Ontario Superior Court of
Justice (Commercial List) the ("Court"), KPMG was appointed as receiver ("Receiver'')
of all of the assets, undertakings and properties (the "Property") of Seafield Resources
Ltd. ("Seafield") pursuant to section 243(1) of the Bankruptcy and Insolvency Act,
R.S.C.l985, c.B-3, as amended (the "BIA'') and section 101 of the Courts of Justice Act,
R.S.O. 1990, c.C.43, as amended.
3. This Affidavit is sworn in support of a motion to be made in these proceedings
seeking, among other things, approval of the fees and disbursements of KPMG in its
capacity as Receiver for the period from September 9, 2014 to February I, 2016, including
a holdback to complete certain post-closing tax returns in Colombia (the "Period"). The
background information relating to the motion for approval of the fees and disbursements
ofKPMG is summarized in the Receiver's Second Report dated January 25, 2016 (the
"Second Report").
4. Pursuant to the Receivership Order, the Receiver has provided services and
incurred disbursements, in the amount of $811,319.20 and $53,292.61 respectively
(excluding HST) in the Period.
191
--------- - -- -
-2-
5. The Receivers activities during the period have included:
(a) Actions with the assistance of counsel to obtain control over Seafield's
principal asset being the shares of its wholly-owned subsidiary, Minera
Seafield S.A.S ("Minera") as described in more detail in both the First and
Second Reports;
(b) The development, in consultation with the secured lender and the execution
of the sale and investor solicitation process ("SISP") as outlined in both
the First and Second Reports;
(c) Negotiating a share purchase agreement in respect of the Minera shares
which reflects a credit bid from the Secured Lender; and .
(d) Various other tasks required to take possession and preserve and protect
the assets and undertakings of Seafield.
6. Attached hereto and marked as Exhibit "A" to this Affidavit is a summary of all
invoices rendered by the Receiver on a periodic basis during the Period (the "Accounts").
7. True copies of the Accounts, which include a fair and accurate description of the
services provided along with the hours and applicable rates claimed by the Receiver, are
attached as Exhibit "B" to this Affidavit.
8. The Receiver has previously filed the First Report to the Court, dated May 12,
2015 and the First Supplementary Report to the Court, dated May 18, 2015, with respect
to its conduct and the receivership proceedings (the "Previous Reports"). In addition,
and contemporaneously with the filing of this Affidavit the Receiver is filing the Second
Report. Details of the activities undertaken and services provided by the Receiver in
connection with the administration of the receivership proceedings are described in the
Previous Reports and the Second Report.
9. In the course of performing its duties pursuant to the Receivership Order, the
Receiver's staff has expended a total of 1,492.1 hours during the Period. Attached as
Exhibit "C" to this Affidavit is a schedule setting out a summary of the .individual staff
192
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involved in the administration of the receivership and the hours and applicable rates
claimed by the Receiver for the Period. The average hourly rate billed' by the Receiver
during the Period is $558 per hour.
10. The fees were charged at the firm's standard billing rates in effect from time to
time. Disbursements were charged in amounts which were less than or equal to standard
charges in accordance with the firm's disbursement policy for clients. I verily believe that
the time expended and the fees charged are reasonab'l~:llJ'~t.ool'~[:)f'}A~~:~;~)~~;;i;d prevailing
market rates for services of this nature in downtown Toronto a)}~q~i~[Y;:,)Y,I\ere much of
the work was performed.
II. The total amount of professional fees and disbursements being claimed for work
performed by the Receiver during the Period is $864,611.81 (excluding HST).
12. The Receiver requests that this Court approve its Accounts for the Period, in the
total amount of $864,611.81 (excluding HST) for services rendered and recorded during
the Period.
13. McMillan LLP ("McMillan") and Philippi Prietocarrizosa & Uria ("PPU"), the
Receiver's independent legal counsels, have provided legal services to the Receiver,
rendered services throughout these proceedings in a manner consistent with the
instructions of the Receiver and have prepared affidavits with respect to the services
rendered during the Period. The Receiver has reviewed the invoices rendered by McMillan
and PPU during the Period.
14. To the best of my knowledge, the rates charged by the Receiver, McMillan and
PPU are comparable to the rates charged for the provision of similar services by other
accounting and law firms in Canada and Colombia.
15. I verily believe that the fees and disbursements incurred by the Receiver, McMillan
and PPU are fair and reasonable in the circumstances.
193
SWORN BEFORE ME at the City of Toronto, in the Province of Ontario, on January 25,2016.
Commissi6ner for taking affidavits
Asya Rzhevsky, a Commissioner, etc., Province of Ontario, for KPMG IlK:., Trustee in Bankruptcy Expires June 10, 2017
-4- 194
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THIS IS EXHIBIT P /l II ReFERRED TO IN::-:T-:':H:;!E AF7::F:::IOA:-:V:::IT:-::0::-F --
jJk&tz !Pevna.?"d SWoRN BE~ORE ME TH~ 0{ "i ft./ DAYOF,fkM<t'ljV .20.!.£.._
aft,/~ A ¥MISSIONER, ETC.
EXHIBIT A
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h<1PM<O Inc. ----- -· ·---·sepieii)bef.9.:'1!i14~:sepiefu'b~r 3o, 20 I4
October I, 2014 to November 30, 2014 December I, 2014- Apri130, 2015 May I, 2015- May 31,2015 June I, 2015- June 30,2015 July I, 2015- Dec 31,2015 Month of January 2016
KPMG!nc.
1 Split into two invoices for HST related expenses. 2 Estimated fees until discharge.
2
114,078 77,929
242,631 113,221 72,180
194,573
14,830 10,131 31,542 14,719 9,383
22,253
128,908 88,060
274,173 127,940 81,564
216,825
197
I SWORN BEFORE ME THIS ') .c; ;lt,_.-
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EXHIBITB
198
october 17 ;2014- - --· . ------- ------ - ----··· --
RMB Reso(!t9~§~!It_¢::.;:~--~-~·~, -----·--·-·-~-- · {_:·,~] 3500 South Wadsworth Boulevard Suite 405 •..... --- ....... - -----·--·-·-·---········ ··--·---Lakewood, CO 80235, USA -~ r·: ·'''"' ;3, . .- .. c.-::< · '-.
FIRST INTERitviiNVOICE
Payment Address: KPMG LLP, T4348 P,O. Box 4348, Station A. Toronio, ON M5W 7 A6
Invoice Referenc.e Client Contact Telephone Email
: 8000424155 : 200027 5484 : 1001563689 : Philip Reynolds : (416) 777'8415 : pjreyllolds@I<J>mg.ca
For professional.services rendered. as Receiver of Seafie_ldResources Ltd, pursuant to_ an order of the Onta;io Superior Court of Justice on Septemtler 9, 2014.
Our Fee $ 108,340.00 Disbursements fi:raa:oo
$ 114,078;00
HST 14;830.14
CAD
CA.D
$ 128,908.14 CAP
Paymentisdue.upon•receipt
GST/HST Number 12236 3153RT0001 QST Registration 1023774310 TQOOD1 )<;' j ............ ..-.. "'! ;..-., .. -............. -........ ·--~----····· .......... -.. _ ......... .;,.._ ....... : ........................................................................................... ""!'*'""'! ....... _ ........... ~ ....... · .. · ... ,;, ........ ..; ........ · .. -- ;.. .... -.. --
Cheque Payments: Please make cheques payable to KPMG LLP, T4348, P.O.- Box4348, Station A, Toronto, oN M5W7A6 Please retllm re(ilittai)ce advicii wit)J cheque.
EFT Payments: Please emailpaymerit deiailsto kpmg"[email protected].
lmioi¢e No: &000424155 Reference: 20002754.&4 Cli_ent:. 10015636&9 Amount:$ 128,908c14 CAD
KPMG LLP IS-a_-canadian 6M1ted ll<ibmty partru:irshlp·ancrmemberfi~ ofihe K!?MG network.pf Independent rti_emberfirmS'affiliated with KPM(; lotematiqnal C_oop_erative._("J~P:MG l!'JI~m.J!Iional"), a·5'?1is~ en_tity.J~fMG.C~_na(ja prqv!(!e~:servfces to KPMG-LLP.
199
Professional Fees Summary For the period, September 9, 2014 to September 30, 2014
Name Position Rate Hours Fee ($)
Philip Reynolds Partner 760 102.0 76,600.00
Camilo Gonzalez Partner 650 12.0 7,800.00
Aaron C.ollier SE;lnior Manager 660 9.7 6,402.00
Michael Basso Manager 300 56.7 16,710.00'
Asya Rzhevsky Clericalrrechnical 290 3.2 928.00
Total 182.6 108,340.00
EXpense. Summary For the period, September 9, 2014 to September30, 2014
Type Amount($)
Transportation 3,394.00
Lodging 2,344.00
Meals
Misce.Uaneous
Total 5,738.00
..
200
RMB Resources Inc. Summary of Activities for the Period September 9, 2014.to September 30,2014.
Philip Reynolds
09-09-14
09-10-14
09-lbl4
09-12-14
09-15c14
Prepardorand attend OntarioSuperiorCourt ofJusticehearing regarding Receivership Application; Attend ShEil:.,holder meeting; D.isc.ussions ll,tld. edits to Shareholders Minutes; Numerous discussions with RMB representatives, RMB's Columbian counse~ Stil;:emll,tl's and others regarding Receivership process and next steps; Co-ordinate steps for Seafield's Toronto office visit; Co-ordinate Receivership.notices and attend to other administrative matters; Draft lett!ir to Minera in house counsel regard.ingrequestfor information,. including Minera's minute book.
Perform an investigation ofthe.Property.oftheDebtor and review other .matters with s: Ashton, CFO; Review worl-:pla11 with staff; Numerous discussions and..emailcorrespopc;lencewith RMB ll,tls:lth.eir C:anadian.Md Columbian legal counsel; Email correspondence with D. Prins, C. Cadera, J. Pirie and S. Ashton; C:orrespondence with C:, Cac;lera regar<\ing requirements of Receiver to return minme .book and other matters; Review of shareholder resolution; Numerous. discussions with.McMillan regarding all of the above.
Meeting with J. Pirie (former Chairman of S~afield Resources Ltd,) regarding investigation of propertyofthe depior and. oii),ertnlltters; Various emallsand discussions with RMB lind its counsel regarding the Receiver's planned course of action regardingSeafield Minera S.A.S.; Disclll;s.ion With S. Ashton; Revi.ew corresponilen:ce frotnlegal cp@sel to. Seafie!d.Minera S.A:S. ·
RevieW clritt Power of Attorney provid~d by C; Martinez(Oiseuss With McMillan ll1ld KPMG's.Columbilln Counsel; Discuss same with C: MaJ;tihez;Discussion with S. Ashton; Review consulting agreement between .s. Ashton and Seafi\lld liS well.as.D. Prius lind Seiilleld; Review legal correspondence received by A Velazquez; A!tend,.group cilJ reg~rding I e. gal actions contempl;:tted to he fil<id with the· Superintendenc!a; Review Seafield Boardfuinutes; Arrange. for Notice of Receivership to Ontario Superintendent of Bankruptcy; Attend to email c()rtesJ'budenc\J lfotn ('). OJ;tit. and C. Cad era (Minera).
Attend to termination·ofconsultiug contracts for both S .. Ashton and D. :Pril)s; Attend to varioi)s ell)ails regarding·Mc'i'·.1.111an's tegalopini()n; Review Consulting Agreement betweenSeafield Resources Ltd. And :0. Pilus; Discuss same With McMillan; Review.d.raft·commun:ications to presentto the Superinteudencia and the Cbamber of Commerc.e of Bogota/Medellin;; Review and provide comments. on .. draft correspondence to Min em and external COIIIl$eLprepare<\ byJ' dj "ferJiZ];f; Various further .emails andtelepbone discussions.
Di$cussion with l'vH:Millll11JegardingTSX delistjng co(reSJ)ond¢J\ce received; Review correspondence received from S. Ashton and respond;
9.5
8.0
6:5
9.0
4.5
1:5
201
09-1.7-14
09-18-14
09-19-14
09-20-14
09-22-14
09-23-14
09-25-lf+
RMU Resources Inc. Summary of Activities for the Period September 9, 2014 to September 30,2014.
Attend to various email communications.
Review email received from D .. Prins regarding funding requirements of' Minera; Attend conference call with working group regarding various J:!latters with the Superintendencia et al; Review draft minutes of the shareholders meeting (to be provided to the Superintendencia); Email correspondence from and to D. Prins; Review ofKPMG me. support letter prep<l!ed for the Superintendencia; Various calls and email correspondence.
Review Receiver's Notice as required under the Bankruptcy and Insolvency Act; Issue same to the Superintendent of BankrUptcy; Attend call regarding Superintendencia action items; Review draft Petition for Control prepared by A. Torres ofMortinez Nera; Call with KPMG's Independent Columbian counsel; Draft emailto D. Prins and discuss with McMilian and RMB; Attend to various emails and phone calls.
Discussion with D. Prins; Various emails and correspondence.
Attend to various email correspondence (C. Martinez, W. Rostom, others).
Attend to various email correspondence (G: Ortiz, others).
Attend to various email correspondence (S, Ashton, RMB, counsel, etc.); Discussions with M. Basso re: dataretention, control of Seafield website and email serve~:s; Review draft Power of Attorney.side letter and Support Letter to the Superintendencia drafted byprietocarrizosa and pt0vid,e comments thereon; Discussion with RMBregarding various matters; Review various items of correspondence regarding Seafield Minera's current obligations and status of mining rights; Review updated drafts of pOA, side letter and Support Letter to the Superintendencia; Discussion with McMillan and others regarding C. Cadera's email correspondence (director resignations); Explore privilege of information with McMillan; Review memo on same provided by McMillan .
.Discussion with J. diTerlizzi and W. Rostom regarding privilege of information(C. Cadera emails); Attendt(),numerous emails (McMillan, RMB, prietocarrizosa, Martinez Neira, others) ..
Call with RMB; Review details offundingrequestprovided by D. Prins; Discussion with D. Prins; Disc.ussion with G. Ortiz regarding funding and directors resignations; Review update from C. Martinezregarding status of matters .in front oftheSuperintendencia;Attend working group update call.
Review draft letter to the Columbian Chl!mber of Commerce prepared by J. di Terlizzi and provide comfuentsthereon; Review uppate prepat:ed regarding Se~eld Resources Ltd. Canadian assets (KPMG prepared), books and r.ecords. and other matters prepared by ,A. Collier and M .. Basso; Various emails regardingthe Superintendencia's visit to Seafield Minera's offices and discussions regardingimpllcations and a visit by the Receiver
3.5
3.0
1.0
1.0
0.5.
6.5
2.5
4.5
7.0
202
09-2.6~14
09-29-14
09-30-14
Total
RMB Rcson.rces Inc. Summary of Activities for the Period September 9, 2014 to Sepiember 30,2014~
to Coh1mbia; Coirespondence to/from B. Philpott of the TSX; Draft e1naii to D. Prins regarding proposed meeting on Sept. 30, 2014; Discussions· wiih McMillan regardil)g same and travel plan and meeting preparation.
Update call with McMillan regarding upcoming meetings with the Superintendencia and other ma~ers; Further discussion with .J. qi Terlizzi regarding same; Discussion'withT.Keast of ManitOu Gold regarding Manitou shares and the Elora property; Discussions and arrangements with C. Gonzalez. ofKPMG Co.lumbi~ regarding file briefing and arrangements for upcoming trip to c:olumbia and related meetings; Review further correspondence from G. Ortiz; Attend working group call regarcling Without Prejudice !"mail. from D. Prins; Prepar!".response to D. Prins and discuss williMcMillan; Attend to numerous emails regarding upcoming meetings in Columbia with working $fOup; Review memo provided b)' Martinez Neira regarding Columbian insolvency process.
Travel to Bogota, Colunibia; ,Review of all filing and col'fespondencewith the Superintendencia l!lld Chamber; Discuss upcoming meetings with W. Rostom.
Attend offices of prieto.carrizosa t{) prepare fm: meeting with the Superintendencia's offices; Debrief.with counsel; UpdafeRMB regarding the a'bove; Review employment co.ntractofD. Prins (tr~lated); Djscuss same with prietocarrizosa.
Travel to Medellin; Meeting with the Superintendenciain.!viedelli!l; Pr~par.e. for Satne;Trl!Yelt{) seafteldMinera's offices and ~ttend !lle.eting with D. Prins; c.·cadera, G . .Ortiz and counsel; Update RMBc ··
Camilo Gonzalez
09"2~H4
09~30-14
Total
Document analysis/preparation
Attend meeting in Bogota
Travel andmeetjngs in Medellin
7.0
8.0
6.5
12.0
102.0
2.Q
4.0
6:0
12.0
203
RMB Resources Inc. Summary of Activities for the Period September 9, 2014 to September 30, 2014.
Aaron Collier
09-10-14
09-11-14
09-12-14
Total
Obtaining documents regarding Se'!field Resources from Marrelli Support Services,. meeting with C. Marrelli. Review of trial balance and accounting records provided. "
Preparation and meeting with J. Pirie regarding background of the company and assets. ·
Review of board minutes and supporting documentation provided by Marrelli Support Services.
Michael Basso
09-09-14
09-10.~14
09-11-14
09-12-14
09•18-14
09-19-14
09-22-14
09-23-14
Review documents for Court hearing, attend Court; Visit 20 Toronto St. (Seafield's Toron(o offices); Engagement code setup; Attend 36 Toronto St. office,. take possession of minute books and current bank records; Draft account freeze letter and send to RBC.
Review bank documents and minute books, discussions with RBC regardingfunds; Attend 36 Toronto St. regardingaccounting records; Reiliewac.counts payable listing, draft Receiver's notice; Review bank records. "
Changes to required documentation to be provid¢d to the Superintendent. of Bankruptcy in prescribed form; Meeting with Jim Pirie.
Prepare Form 87 Notice and Statement; EFax to the Superintendent of Bankruptcy; Discussion with A. Collier; Correspondence with RBC regarding funds and secured claim ..
Review phone messages from Shareholders, summarize and send toP. Reynolds.alongwitli Form 87 Notice.
Call from R. Tays re: Elora Gold Mines Inc. interest in Elora property; .Emails to C. Marrelli re: accounting records; Discussions withPc Reynolds.and A. Collier re:. records; Elora project, Receivers Notice .etc.
Draft Update to RMB; Attend DSA Corporate Services office to take possession ofSeafield books a!!d te¢ords; Attend offices ofMarrelli Support Services to take possession of Seafield mail; Translate. emails sent to Company email addresses; Discussions w/ P. Reynolds on same.
Review emails from Seafield accounts.
4.5
2.2
3.0
9.7
8.7
7.5
3".5
6 .. 5
1.0
33
6.2
2.0
204
RMB Resources Inc. Summary of Activities f0r the.Period September 9,2014 to Septem~Jer 30, 20i4.
09-24-14
09-26•14
09'29-14
Total
Asya Rzhevsky
09'30-14 Total
Review emails, call with D. Prins; Call with M. Mills ofBatero Gold; Call. withRBC Dominion re: Manitou shares; Updatesto.RMBupdate; Review of Seafield accounting records.
Prepare update and review of Seafield' s Canadian assets and affairs from A. Collier and P. Reynolds.
Revise update to A. .Collier. and P. Reynolds regarding review of Seafield's Canadian assets. and affairs; Prepare interfirm agreement for P. Rey11olds and.C. Go!1Z3lez; Review ''Drop box" files (Seafield electronic records); Discussions with Webhost re: em ails.
Translate eml!ils; Summarize employee agreements; Restri.ct access on Drop box.
Sept 16 postal redirection;.Mail notices; Prepare deposit and cheque.
6.0
.2:0
4.5
4.5
5!;c7
3.2 3.2
205
KPMG LLP Payment Address: Suite 4600 Bay Adelaide Centre 333 Bay Street
KPMG LLP, T4348
Toronto, ON M5H 2S5 P.O. Box 4348, Station A Toronto, ON M5W 7A6
December 29, 2014
RMB Resources Inc. 3500 South Wadsworth Boulevard Suite405 LakewoOd, CO 80235, USA
SECOND INTERIM INVOICE
Invoice Reference Client Contact Telephone Email
For professional services rendered as Receiver of Seafield Resources Ltd., pursuant to an order of the Onlario.Superior Court of Justice on September 9, 2014.
Our Fee
HST
Amount Due
Payment is due upon receipt
GST/HST Nuniber 12236 3153 RT0001 QST Registration 1023774310 TQ0001
: 8000480370 : 2000275484 : 1001563689 : Philip Reynolds : (416) 777-8415 : [email protected]
$ 77,929.00 CAD
$ 77,929.00 CAD
10,130.77
$ 88,059. 7.7 CAD
Cheque Paymen~: Please make cbequ.es payable to KPMG LLP, T4348; P.O. Box 4348,. Station A, Toronto, ON M5W 7 A6 Please return remittance advice.with cheque. ·
EFT Payments: Ple;ose email payment details to [email protected].
Invoice No: 8000480370 Reference: 2000275484 Client: 1.001563689 Amount:$ 88,059.7.7.CAD
KPMG LLP Is. a canadian ~mit.ed liability partnf!rshlp, al)d member iirn1 oJ the KPMG. networir:otindependent member firms attinate~ with KPMG lntemafional Cooperative ("KPMG lntemalional"), a SWiss entity. KPMG Canada Provides serVices to· KPMG LLP. ·
206
Professional Ft'les Summary For the period, October 1, 2014 to November 30, 2014
Name Position Rate Hours Fee ($)
Philip Reynolds< Partner 750 772 57,900<00
Aaron< Collier Senior Manager 660 27.9 18,414.00
Michael Schwartzentru.ber Seniof.Consultant 250 3.1 775~00
Asya Rzhevsky. ClericalfT e.chn ical 200 42 840.0.0
To.tal 112:4 77,929,()0
207
RMB Resources Inc. Sumrn:i):ry of Activities for the PCriod.Ocfober 1, 2014 to November 30, 2014.
Philip Reynolds
J0-01-14
10-02-14
10-03-14
10-06-14
10-08~14
Summarize details of proposed interim settlement measures between the Receiver and Seafield Minera; Discuss same with McMillan and C. GoJlzalez (KPMG Columbia); Email correspondence with RMB regarding same; Email correspondence with G; Ortiz regarding proposed funding to Seatield Minera; Discussions with F. Cuderos regarding proposed interim settlement with Seafield Minera; Review reyised .interim settlement arrangements between the Receiver and Seafield .Minera; Travel from Bogota to Toronto; Review offundinginformation provided by G. Ortiz.
Various email correspondence regarding interim settlement arrangements between Seafield Min era and the Receiver; Revie1N funding .information provided by G. Ortiz; Discuss funding with RMB. and further discussion with McMillan; Review McMillan email correspondence regarding same; Review funding analysis prepared by M. Basso and A. Collier; Attend working group call regarding recent communications with Supermtendencia and the interim settlement proposed; Email correspondence mth RMB regarding Seafield Minera funding requirement and associated backup information.
Review Receivers certificate regarding funding; Dis.cussion with RMB regarding funding of Seafield M.inera; Review email correspondence betWeen counsel in Columbia regarding interim settlement; Discuss Receivers Certificate, as drafted byStikemal\s, with McMillan; Email correspondence with G. Ortizregarding funding items (A. Valasquez, PwC).
Review various email correspondence regarding interim settlement and objections from Seafield Minera regarding the Re.ceivers pre-funding information requirements; Review correspondence from G. Ortiz; Discussion with F. Caberos regarding interim settlement; Discussions mth McM.illan regarding same. ·
Attend to :various em ails regarding interim settlement; Discussion with McMillan and F. Caberos regarding same; Arrange and ·attel\d '\forking group call regarding various matters .in Columbia; Atterid to numerous 'follow up emails regarding proposed funding of Seafield Minera; Discussion and correspondence with T. Keast ofManit()UResources regarding Elora property.
Emrul correspondence with.RMB tegru:ding goror'Ward funding, liabilities and control considerations regarding Minera;Review memo prepared by A. 'Torres regarding general reorganization proceedingsin Columbia; Review fmal version of Receiver's Certificate -and execute same; Email correspondence mth Seafield M.inera regarding outstanding employment contracts and schedule ofall coSting liabilities; Arrange forfunding·of Minera. · ·
10.5
4.5
2.5
3.5
4.0
4.0
208
10-09-14
10-10-14
I0-12-14
10'15-14
10-16-14
JOcJ?-14
10·20-14
10-21-14
10'22-14
10-23-14
RMB Resources lnc. Summary ofActivities fortheJ>er!od October 1,,20,14 io November 3_0, 2014.
Review suspension request filed by Seafield Minera regarding i·eor-ganizatidn.prOce:ediiigs; Review preliminary infonnatiOri regarding the liabilities ofSeafield Min era received from G. Ortiz; Review settlement agreement~ drafted byG,.Moore,
Review various commellts.received with iespecfto draft settlement agreementand related matters,
Review emailcotresp.olldence from D. Prins regarding all~ged employment contract amendment; Forward to McMillan and F. Caberos.
Attend group call; Arrange to send various items of financial information to F. Cal:>eros; Discussion with McMillan regarding genera!.status and options to move forward.
Discussion with McMillan andA Collierregardingpreparation of Receivers report, Email cturespondence with T.k:east oflvlanitou Resources re: Eloraand Manitou shaies; Review various .emails from F. Caberos and questions prepared by.Mclv!illan; Attend working group calL
Disc.uss go :forward .strategy with McMillan; Revi~w proposed correspondence drafted by F. Caberos for A V alarquez; Review support documents to pa)'njents rec!)ntly made for Seafield Minera provided by G. Oitiz, ...
.RevieW draft letter to A.. V e\asquez; xeview fUnding requestreceived fro;11 Minera (G, Ortiz); Review answer& to many Colombian.insolvency and proc.ess questions posed by McMillan and answered' by Colombian collhsel; Attend worid!lgg'rollp conference eall; Attend.to vaiious email .correspondence from RMB lllld' Colombian counsel; Review various Mineramailagement ema,il,S,·ai> dqw.nload~t{from the Seafiel!lReso~ server~
Review various emails re; in!ohllatio11 delivered by the Receiver to Colombiah colllisel, fundihl$ o!Minetil and strategy regarding recent -actionsofMineramanagement; ReviewdetailedMinera.funding requ)i'ements a5 provided by G~ 0@::
Attend strategy discussion with Colombian.counsel and McMillan (iQ<;fudlng re:view oflv!cMillaii's agendafor.sa!Jle);JiliscQssion wiih F,. Caberosregatdingvatiot~s action items lllld· requirements,oflhe· Receiver; Jj.ttend to email correspondence with G. Ortiz regarding funding request received.and·potenti(I]Jy·ii)~<Qi;lsi*.!ltinfo,tllJ.ationcontait).pd therein' Reviewmemo prepared by F. Gaberos regarding. various insolvency matters an.d iss([estela.1;:ingto t4e aili¢nt!ed a!Jlployn)ent contracts of]). Prins .and G. OrtiZ; Eniails :IVifu A. Belevan regai:ding sallie; Review l«ln:espondence ~~ived :fohn 1).. Velasquezregarding.funifing and expily of''slispensionperiod".
Review numerous emalls and draj't responses io fue.latestV elasquez correspo:ndel\ce provided comments on same.and discuss with McMillah;
2.0
0.5
05
2.5
35
L.5
4:0
25
5.0
209
10-24-14
[0C26-14
10-28-14
10-30-14
l0-3Jc14
1Hl3-I4
11-04-14
Jl"OS-14
11-07-14
11-10-14
11-11-14
11-14-14
RM.B Resources lnc. Summary of Activities for the Period October 1, 20]4 to November 30, ;2014.
Review various em ails received from G. Ortiz regarding Min era funding requirements and status of mining rights; Review McMillan's snmmary of the Option Agreement between Manitou Gold lnc. and Seafield Resources Ltd. regarding the Elora property; Review circumstances around June 20114 Board approval ofD. Prins and G. Ortiz's employment contract amendnwnts, including various prior public disclosures made by Seafield Resources regarding their lackof funding; Review and draft letter to G. Ortiz and D. Prins regarding employment contract amendments; Various emails regarding same.
Review updated letter to De Prins and G; Ortiz; Review share take back proposal in connection with contemplated upcoming funding ofMinera; Attend to various emails between F. Caberos and McMillan regarding same.
DrafUetter from the Receiver to the Superintendencia.
Review draft take control application material; Discuss Same with McMillan; Review translated Jetter to the 'administrators'; Attend to various erriails regarding the filing of the take control application,
Review settlement letter received from Velasquez; _discuss same with R. Winters; Review various emails.regarding same; Attend working.group call.
Update draft of proposed Receiver's Jetter to the Superintendencia and distribute to working group; Review comments received; Review draft response to Velasquez offer.
VariolJ!i emails re: D. Prins' correspondence with the Sllperintendencia.
Attend working_ group call.
Review email f~:omp, Be.ltran re: alt~rnative actions,ihat:ca!l b¢ taken against the current a<jministra'tors ofMinera.
Review documentation prepared by D. Beltranre: change board an_d appoint legal representative.
Attend working group call; review and execute Power ofAttorney; discussions with Lyntek representatives re: Min era information in their possession.
Review documentation provided by D. Beltran re: minutes and resolution to adopt new Board and confmn Receiver's approval of same; review translated. copy ofYela5quez correspondence; ((!tend working group call (RMB,McMillan, KPMG). .
Attend working group call re:. next steps, actions ru:ound c.ontro1 measure, settlement with current Minera administrators; review November cash
1.5
0.5
2.5
2.0
1.0
0.5
0.7
0.5
0.5
1.5
1.5
1.5
210
1.1-20-14
11-21-14
.11-23-14
ll-24C)4
11-26-14
11-2H4
Total
RlYlB Re.>ources lnc. Summary of Activities for the Period October 1, 2014 to Novcmber'3(1,2014.
flow forecast proyided by G. Ortiz.
Review Nov-14 funding budget received .from G. 01tiz; status update .discussion with RMB; <.liscussionwithElora re: Elora property ancj royalty interest.
Provi<ie analysis to :RMB re: Noveml?enequest for funding artd ass.ociated budget provided by Minera management:
Email correspondeuc¢with G. Ortiz re: November fUnding ancj related budget;. email correspondence with C. Martinez. and others re: status of various matternvith tl)e Colombian Superintendencia.
Review corrected version of November budget provided by G. Ottiz, along with supportiog documentatiom
Review further backup r~garclingMinera's fUnding request providecl b)' G. Ortiz; review draft Jetter to the Superintendencia.
Rtwiew email correspondence and communication fro)ll the Superintendencia re: approval of control measure; arrange wire transferto Minera (Noyember budget); discussion with CCader~> re: hnmediate administrative conc.erns fot.lVIinera.
Review various operationatmatiers to be addressed with respect to the go forwwd a.dmfu)strati611 ofMinera (memo prepared byD. :Beltran}"and discuss with counsel. · · ·
Status updat!' call with:RMB re: yarious matters with respect to the c.ontroL and.adrniniStration.ofMinera;:reviewadmirtistrative requirements.with C. Gonz<llez (KPMG C6lorob1a).
Aaron Collier
10-02-14
l0-07-14
10-20'14
Review of Min eta Seafield SA:S ]5laiined disbJJrsements for October 2014 to detennine extent offi:JndingregJJired.
C!!II with RlV!B, McMillan a!ld Colqnibian coti:oseho discuss status of getting control ofColinnbian assetS: Follow up call with McMillan and ColUmbian couns~l t.o di_scuss .J.{eceiver'.s .first repo,rto court.
Drafting of the Receiver's FirSt Reportto Court.
Drafting pfthe Rei:\eiver'U'irs(Repqrt to Court. Review an<:l. pbone call with J. Spence, Dickinson LLP regarding the Elora Gold·Propetties and the interest of Elora Gold Min.es Ltd.
2.0
0.5
1.0
0.5
1.0
1.5
LO
1.0
77.2
1.4
0.8
7.1
4.1
211
10-23-14
10-28-14
10-29~14
11-04-14
11-12-14
11-14-14
.11-17-14
11-18-14
11-20-14
Total
RMB Resources Inc. Summary of Activities for the Period October 1~ 2014 to November 30,2014.
Review and discussion with McMillan on Seafield/ Manitou option agreement.
Review of documentation regarding Elora Gold properties to underStand the properties and ascertain any value.
Further review regarding Elora Gold properties. Call to J. Spence, legal counsel for Elora Gold Mines Ltd. Call to S. Ashton.
Discussion with Z. Patel regarding Mira Flores and Eloraproperties. Discussion of required documents for a sales process regarding the same. Email to J. Spence regarding Elora properties. Call to Inspectorate regarding storage of Mira Flores test samples.
File update and discussion with P. Reynolds and. email to McMillan regarding the royalty interest held by Elora Gold Mines Ltd with respect to the Elora properties.
Discussion with McMillan regarding royalties owing to Elora Gold Mines Lt!l and the process for dealing with the Elora property in NW Ontario.
Discussion with Z. Patel regarding strategy for disposing of Mira Flores and Elora properties.
Preparation and meeting with R. Tays, D. Emery and J. Spence regarding Elora Gold properties.
Phone calls andemails with Ministry ofNorthern Development and Mines and City of Thunder Bay regarding any outstanding property and surfaces taxes with respect to eh Elora properties.
Tim Montgomery
10-02-14
Total
Translation ofbudgeted October payables and .invoices; Subsequent internal discussions.
Michael Schwartzentruber
10-27-14 Monitor email correspondence.
10-31-14 Monitor email correspondence.
11-05•14 Monitor email correspondence.
0.3
4.5
3.0
1.7
1.5.
0.8
0.3
1.8
0.6
27.9
12
1.2
0.5
1.0
0;5
212
RJ.VIB-ResourceS: lnc. Summa.r.Y of Activities for the'Petiod OCtober 1,2014 to November 3Q~ 20l4.
11-07-14 Monitor email correspondence.
IH0-14 Monitor email correspondence.
11-14-14 Monitor email correspondence.
Total
A:sya Rzhevsky
10-06CJ4
10~07-14
IO,Q8-14
10-10-14
10-15-14
10-16-14
10-20-14
11-04-14
li-TG,J4
iT-;25-14
11-26,14
Tl\tal
Email. t<i ClBCregarding incomi!1g win;, post to R&D.
Prepare cheque to Smartwebpros.com Inc;
Prepareletter and form RC59 to open a HSTaccount.
Prepare wire to Sea;liled Minera S,A.S.
Preparebank·reconciliations.
Emails, prepare letter to ClBCtegardi!1&wire trace auth.orization.
Prepare stop payments t:>n cheq<.tes to. Smartwebpros,com Inc.
Prepare replacement cheques to Smartvvebpros.com Inc.
.Prepare and follow up wite tO Seafield Minera, update for unsecured cl.aim.
1'repare bankreconciliations for US and'Cdnbank accounts.
Pfepll!'e chequeJor s~mrle storag¢.
Email~o CIIICre:wire,:updateR&b.
Prepare wire to Seafie1dMinera$OS, .emails to/from CIBC, update R&D.
I ' ..
0.5
0.4
0.2
'3.1
0;2
0.3
0.6
0.4
0.2
0:3
0:3
03
0.4
0.3
0.3.
0.2
0.4
4.2.
213
KPMGinc. Payment Address: Suite 4600 Bay Adelaide Centre 333 Bay Street
KPMG LLP, T4348
Toronto, ON M5H 2S5 P.O. Box 4348, Station A Toronto, ON M5W 7A6
January 21, 2016
RMB Resources Inc. 3500 South Wadsworth Boulevard Suite405 Lakewood, CO 80235, USA
Invoice Reference Client Contact Telephone Email
For professional services rendered as Receiver of Seafield Resources Ltd. for the period December 1, 2014to April 30, 2015, pursuant to an order of the Ontario Superior Court of Justice on September 9, 2014.
Payment is due upon receipt
Our Fee Disbursements
HST
Amount Due
GST/HST Number 12236 3153 RT0001 QST Registration 1023774310 TQ0001
: 80009444 77 : 2000275484 : 1001563689 : Philip Reynolds : (416) 777-8415 : [email protected]
$
$
$
238,221.00 CAD 4,410.08
242,631.08 CAD
31,542.04
274,173.12 CAD
)C ·---------------------------------------------------------------------------------------------- ------------------------------.
CAD Cheque Payments: KPMG LLP, T4348, P.O. Box 4348, Station A, Toronto, ON MSW 7A6 Please return remittance advice with cheque.
invoice number to [email protected]
Invoice No: 8000944477 Reference: 2000275484 Client: 1001563689 Amount: $ 274,173.12
KPMG LLP is a Canadian limited liability partnership and member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (~KPMG International"), a SWiss entity. KPMG Canada provides seiVices to KPMG LLP.
CAD
Page 1 of 1
214
Professional Fees Summary For the period December 1, 2015 to April 30, 2015
Name Position Rate Hours Fee ($)
Philip Reynolds Partner 750 54.6 40,950.00
Ryan Adlington Partner 750 46.5 34,875.00
Camilo Gonzalez Partner 750 87.0 65,250.00
Aaron Collier Senior Manager 660 46.6 30,756.00
Zakir Patel Senior Manager 660 36.0 23,760.00
Zahir Palen Manager 500 22.0 11,000.00
Michael Schwartzentruber Senior Consultant 250 46.0 11,500.00
Jenny Brearton Senior Consultant 250 29.0 7,250.00
James Mcintosh Senior Consultant 250 42.0 10,500.00
Asya Rzhevsky Clerical/Technical 200 11.9 2,380.00
Total 421.6 238,221.00
Expense Summary For the period December 1, 2015 to April 30, 2015
Type Nature Amount($)
Other Expenses
Total
Travel and other Miscellaneous ex enses. 4,410.08
4,410.08
215
RMB Seafield Resources Inc.
Time Narrative
For the period October 1, 2014 to April 3D, 2015
Name Date Rate Hours Amount Description
Philip Reynolds 12/1/2014 750 3 2,250.00 Attend working group call regarding strategy to deal with D. Prins' employment contract; discussions with C. Gonzalez (KPMG Colombia) regarding fact finding mission at Minera; follow up on receipt of funding at Minera; review various email correspondence regarding go forward funding arrangements between RMB and Minera; review draft of Minera new loan agreement and discuss same with McMillan.
Philip Reynolds 12/2/2014 750 1 750.00 Provide update of working group call to RMB; attend to emails relating to working group call and related action items; review em ails from C. Parras regarding labour contract of D. Prins and strategies to deal with potential termination obligations.
Philip Reynolds 12/3/2014 750 1.5 1,125.00 Review various em ails regarding changes to proposed loan arrangements between RMB, Seafield Resources and Seafield Minera; update call with RMB regarding termination of D. Prins with McMillan.
Philip Reynolds 12/4/2014 750 1.5 1,125.00 Attend to various email correspondence regarding restructuring of Seafield/RMB loan facilities; review email correspondence from various parties including C. Parras regarding strategies around the possible terminations of D. Prins' employment contract with Minera.
Philip Reynolds 12/5/2014 750 2 1,500.00 Prepare for and attend working group call regarding various matters including go forward funding and the planned termination of D. Prins' contract with Minera.
Philip Reynolds 12/6/2014 750 1 750.00 Discussion with C. Gonzalez regarding go forward requirements of Minera; review proposed task list.
Philip Reynolds 12/8/2014 750 1.5 1,125.00 Update discussion with C. Gonzalez regardirig go forward administrative requirements of Min era; discuss same with RMB.
Philip Reynolds 12/9/2014 750 1 750.00 Review comments by D. Beltran regarding proposed Minera loan agreement; discuss required court approval of same with McMillan.
Philip Reynolds 12/10/2014 750 0.5 375.00 Call with McMillan and D. Beltran regarding proposed Minera new loan agreement and related implications for the Receiver; update with A. Collier.
Philip Reynolds 12/16/2014 750 1 750.00 Attend to various email correspondence regarding revised RMB Joan arrangement with Minera; discuss requirements to have any new loans approved in the Canadian courts with McMillan (Canadian entity as guarantor); discussion with F. Cuderos regarding required Power of Attorney from KPMG to allow A. Belevan to execute the new Min era loan agreement in conflict.
216
Philip Reynolds 12/17/2014 750 1 750.00 Review indicative offer received from Metminco and prepare for discussion with RMB regarding same.
Philip Reynolds 12/18/2014 750 2 1,500.00 Review final form of resolution authorizing A. Belevan to execute new Minera loan agreement on behalf of Minera; review updated version of the Minera loan agreement.
Philip Reynolds 12/23/2014 750 0.5 375.00 Call with F. Cud eros and McMillan regarding go forward governance of Min era.
Philip Reynolds 1/8/2015 750 1 750.00 call with McMillan and Stikemans regarding Min era Board matters and upcoming sales process.
Philip Reynolds 1/19/2015 750 0.5 375.00 Review various emails involving potential actions taken by D. Prins; Correspondence with A. Belevan and F. Cuberos regarding same.
Philip Reynolds 2/2/2015 750 0.5 375.00 Review POA and draft shareholder meeting minutes.
Philip Reynolds 2/12/2015 750 0.2 150.00 Arrange execution copies of POA and review final meeting minutes.
Philip Reynolds 2/13/2015 750 1 750.00 Review proposed Confidentiality Deed regarding RMB's potential debt sale, and discuss with McMillan.
Philip Reynolds 2/17/2015 750 1 750.00 Discuss Confidentiality Deed with Colombian counsel and McMillan.
Philip Reynolds 2/18/2015 750 0.2 150.00 Discussion with RMB regarding Confidentiality Deed.
Philip Reynolds 3/4/2015 750 2.5 1,875.00 Meeting with representatives of Batero Gold; review 246(2) notices (receivership filing with Office of Superintendent of Bankruptcy).
Philip Reynolds 3/12/2015 750 3 2,250.00 Prepare for and attend two meetings with Phil Klein of Metiminco at the request of RMB.
Philip Reynolds 3/16/2015 750 0.5 375.00 Deal with IT matters (email server access restrictions and password resets).
Philip Reynolds 3/17/2015 750 1 750.00 Prepare for and attend update call with R. Winters, A. Belevan, A. Vogel and R. Vigil regarding sales process and next steps.
Philip Reynolds 3/18/2015 750 1 750.00 Discussion with McMillan and review of email to RMB representatives regarding sales process considerations.
Philip Reynolds 3/19/2015 750 1 750.00 Further call with RMB regarding sales process considerations and next steps.
Philip Reynolds 3/23/2015 750 2.5 1,875.00 Review preliminary draft of Court report; discuss same with A. Collier; review budget of cost regarding sales process and related work plan; discussions with R. Adlington and McMillan regarding sales process to be ultimately approved by the Court and related key principles and timeline.
Philip Reynolds 3/24/2015 750 1 750.00 Review updated work plan; attend to email correspondence regarding general assembly of Minera.
Philip Reynolds 3/25/2015 750 1 750.00 Update discussion with RMB regarding go forward receivership activities and resignation of deputy legal administrator; emails to/from Dave Prins.
217
Philip Reynolds 3/26/2015 750 1.5 1,125.00 Discuss annual assembly and requirements of the shareholder representative; various emails relating to same; review updated work plan and proposed sales activity presentation; internal discussions with R. Adlington regarding the timeline.
Philip Reynolds 3/27/2015 750 1 750.00 Discussion with D. Prins; attend to various emails from D. Beltran regarding general assembly of Minera and other matters.
Philip Reynolds 3/30/2015 750 2.5 1,875.00 Prepare for and attend group call to discuss next steps regarding sales process (work plan and other); review draft SlSP prepared by McMillan.
Philip Reynolds 4/1/2015 750 1 750.00 Review email correspondence from A. Vogel regarding waterfall of potential proceeds on any sale of Minera and develop response; attend to various emails regarding lifting of the Minera Measure of Control.
Philip Reynolds 4/6/2015 750 3.5 2,625.00 Review draft Court report regarding update on Receiver's activities and SJSP approval; discuss Prins · letter with McMillan; review technical information provided by SRK Consulting.
Philip Reynolds 4/7/2015 750 2.7 2,025.00 Discuss D. Prins matter with McMillan and PPU; review email/questions from A. Be levan regarding same; review updated draft SlSP provided by McMJian; review PPU's comments/responses to questions posed by A. Belevan regarding D. Prins; discussion with A. Collier, Z. Patel, and J. Brearton regarding questions on updated SRK.
Philip Reynolds 4/8/2015 750 1 750.00 Call with RMB and McMillan regarding D. Prins; various email correspondence relating to same.
Philip Reynolds 4/9/2015 750 0.5 375.00 Email correspondence with RMB and McMillan correspondence and appropriate response.
Philip Reynolds 4/10/2015 750 2 1,500.00 Attend call with SRK regarding technical review of Minera property regarding sales process; review updated versions of Receiver's Court Report an SISP.
Philip Reynolds 4/20/2015 750 2 1,500.00 Review further iteration of Receiver's 1st Court report, SISP and other materials.
Philip Reynolds 4/27/2015 750 1.5 1,125.00 Review update drafts of Receiver's 1st Court report and SISP; distribute same to RMB.
Sub-total 54.6 40,950.00
Ryan Adlington 3/23/2015 750 5.5 4,125.00 Review of Receiver's First Report; Discussions with KPMG CF regarding updated timeline; Internal calls with P. Reynolds; Call with Canadian counsel; dra_fting timeline/work plan and budget.
Ryan Adlington 3/24/2015 750 3 2,250.00 Internal discussions with P. Reynolds; continued drafting of work plan and budget; Discussions with KPMG CF regarding process; continued drafting of Receiver's First report.
Ryan Adlington 3/25/2015 750 5.5 4,125.00 Continued drafting of Receiver's first report; Preparation of SISP timeline, including discussions with KPMG CF; Internal discussions with P. Reynolds; Further revisions to the timeline and forecast budget.
218
Ryan Adlington 3/26/2015 750 4.5 3,375.00 Further review and edits to the timeline and budget; Call with Canadian counsel regarding the time line and proposed amendments; Internal discussions with P. Reynolds regarding the timeline; Review and comments regarding the sales process document.
Ryan Adlington 3/27/2015 750 3 2,250.00 E-mail correspondence with RMB; Final review and discussions regarding the draft sales process document and time line/budget; Internal email correspondence regarding various Receivership matters.
Ryan Adlington 4/10/2015 750 1.5 1,125.00 Review of SRK report; review and discussions regarding KPMG's model.
Ryan Adlington 4/13/2015 750 1.5 1,125.00 Review of sales process deck; review and discussions regarding the first Receiver's repo-rt with A.Collier.
Ryan Adlington 4/14/2015 750 1 750.00 Drafting of court report; discussions with McMillan regarding same; Discussions with KPMG CF regarding potential process.
Ryan Adlington 4/21/2015 750 1.5 1,125.00 Drafting receivers report; Conference call with Canadian and Colombian counsel regarding same.
Ryan Adlington 4/22/2015 750 3.5 2,625.00 Call with Colombian counsel; Review of draft Teaser, CA, process document; Review of Receiver's report; Email correspondence with Canadian counsel and KPMG CF regarding revisions.
Ryan Adlington 4/23/2015 750 2.5 1,875.00 Call with KPMG CF regarding process document, NDA, Teaser; review of SISP; discussing regarding HST.
Ryan Adlington 4/24/2015 750 4.5 3,375.00 Providing comments on SISP; drafting the Receivers Report; email correspondence with RMB, counsel and others.
Ryan Adlington 4/27/2015 750 5 3,750.00 Updating Court report, discussions with P. Reynolds and counsel; review of Teaser, proposal letter and discussions with KPMG CF; Discussion with McMillan regarding the SISP and NDA.
Ryan Adlington 4/28/2015 750 1.5 1,125.00 Review of updated Teaser and Process letter; preparation of correspondence toP. Reynolds; Internal discussions regarding the sales process.
~yan Adlington 4/29/2015 750 2.5 1,875.00 Review SISP, list of buyers; call with RMB and counsel.
Sub-total 46.5 34,875.00
Camilo Gonzalez 10/1/2014 750 4 3,000.00 Review of documents related to the company receivership; Correspondence.
Camilo Gonzalez 10/20/2014 750 1 750.00 Review Canadian Receivership Documents. Camilo Gonzalez 10/22/2014 750 5 3,750.00 Review of documents related to the company
receivership; Conference calls and correspondence.
Camilo Gonzalez 10/23/2014 750 2 1,500.00 Review Canadian Receivership Documents; Correspondence.
Camilo Gonzalez 10/24/2014 750 4 3,000.00 Company related documents; mail revision. Camilo Gonzalez 10/25/2014 750 3 2,250.00 Review Canadian Receivership Documents. Camilo Gonzalez 12/1/2014 750 2 1,500.00 Review Canadian Receivership Documents. Camilo Gonzalez 12/2/2014 750 1 750.00 Review Canadian Receivership Documents. Camilo Gonzalez 12/3/2014 750 2 1,500.00 Review Canadian Receivership Documents. Camilo Gonzalez 12/4/2014 750 8 6,000.00 Travel and Meeting in Medellin. Camilo Gonzalez 12/5/2014 750 2 1,500.00 Attend conference calls with KPMG and counsel
regarding the receivership proceedings.
219
Camilo Gonzalez 12/6/2014 750 2 1,500.00 Review Canadian Receivership Documents. Camilo Gonzalez 12/8/2014 750 1 750.00 Attend conference calls with KPMG and counsel
regarding the receivership proceedings. Camilo Gonzalez 12/10/2014 750 4 3,000.00 Meeting in Bogota. Camilo Gonzalez 12/11/2014 750 8 6,000.00 Travel and Meeting in Medellin. Camilo Gonzalez 12/12/2014 750 8 6,000.00 Travel and Meeting in Medellin. Camilo Gonzalez 12/13/2014 750 2 1,500.00 Review Canadian Receivership Documents; Conference
Calls. Camilo Gonzalez 12/15/2014 750 2 1,500.00 Review Canadian Receivership Documents;
Correspondence. Camilo Gonzalez 12/17/2014 750 4 3,000.00 Review Canadian Receivership Documents;
Correspondence. Cam ito Gonzalez 12/18/2014 750 8 6,000.00 Travel and Meeting in Medellin. Camilo Gonzalez 12/22/2014 750 2 1,500.00 Review Canadian Receivership Documents; Conference
Calls. Camilo Gonzalez 2/3/2015 750 4 3,000.00 Email and document revision Dec.28-Feb03 Cam i/o Gonzalez 2/5/2015 750 2 1,500.00 NDA Preparations for Alvaro Camilo Gonzalez 3/17/2015 750 0.5 375.00 Attend conference calls with KPMG and counsel
regarding the receivership proceedings. Camilo Gonzalez 4/8/2015 750 2 1,500.00 Email and Document Revision Aprl-Apr.8. Camilo Gonzalez 4/30/2015 750 3.5 2,625.00 Search for Management Candidates Apr. 27-30;
Conference Calls. Sub-total 87 65,250.00
Aaron Collier 12/4/2014 660 1 660.00 Email to McMillan regarding secured claim by RBC. Discussion with C. Mfirelli, Manitou Resources, regarding potential sale of the Elora properties.
Aaron Collier 12/10/2014 660 0.5 330.00 Update with P. Reynolds regarding response to RBC's secured claim and packaging of NW Ontario assets.
Aaron Collier 12/17/2014 660 0.8 528.00 Discussion with C. Marrelli regarding storage of Seafield files and offer to purchase shares in Manitou Resources ltd.
Aaron Collier 1/14/2015 660 1.1 726.00 Discussion with J. Cockbill from McMillan regarding options to vest out the royalty interest holder on the Elora properties. Discussion regarding drafting PSA related to the sale of Manitou Gold shares. Emails to McMillan regarding the same.
Aaron Collier 1/21/2015 660 0.6 396.00 Preparation for visit by the CRA to review HST. Aaron Collier 1/22/2015 660 0.3 198.00 Discussion with CRA to resolve questions from HST
review. Aaron Collier 2/9/2015 660 0.7 462.00 Communication with RBC Dominion and Manitou
Resources regarding transfer of shares back to Manitou. Drafting of letter of consent to RBC Dominion.
Aaron Collier 2/10/2015 660 0.2 132.00 Communication with Bureau Veritas Commodities Canada regarding billing for Mira Flores sample storage.
Aaron Collier 2/12/2015 660 2.1 1,386.00 Updates to First Report to Court following comments from P. Reynolds.
Aaron Collier 2/26/2015 660 2.3 1,518.00 Updates to First Report to Court following comments from Colombian counsel.
Aaron Collier 4/2/2015 660 1.4 924.00 Updates to draft court report. Review of draft SISP and updated technical data from SRK.
Aaron Collier 4/7/2015 660 1.2 792.00 Discussions with P. Reynolds, Z. Patel and J. Brearton regarding questions on updated SRK technical report. Preparation for call with SRK.
220
Aaron Collier 4/10/2015 660 1 660.00 Preparation and call with RMB to discuss 2015 Technical Report.
Aaron Collier 4/13/2015 660 5.1 3,366.00 Discussion of draft First Receiver's Report with R. Adlington and P. Reynolds. Updates to the Receiver's First Report to court.
Aaron Collier 4/14/2015 660 3.1 2,046.00 Further updates to the First Report to Court. Email report to McMillan for comments.
Aaron Collier 4/21/2015 660 2.6 1,716.00 Updates to the Receiver's First Report to Court. Call with McMillan to discuss Report and appendices.
Aaron Collier 4/22/2015 660 5.1 3,366.00 Updates to the Receiver's First Report to Court to account for comments from P. Reynolds and McMillan.
Aaron Collier 4/23/2015 660 5.8 3,828.00 Meeting with KPMG Corporate Finance to discuss updates to Process Letter and requirements for data room. Updates to the Receiver's First Report to Court to account for comments from Colombian Counsel and McMillan.
Aaron Collier 4/24/2015 660 3.1 2,046.00 Updates to the Receiver's First Report to Court to account for feedback from R. Adlington.
Aaron Collier 4/27/2015 660 6.8 4,488.00 Updates to the Receiver's First Report to Court in preparation for circulation to RMB. Meeting with KPMG Corporate Finance on amendments to Teaser and Process Letter.
Aaron Collier 4/29/2015 660 1.8 1,188.00 Drafting of publication notice for the court-approved sale of Seafield and Seafield Minera.
Sub-total 46.6 30,756.00
Zakir Patel 4/15/2015 660 4 2,640.00 Teaser/NDA/Process Letter/Buyers List/Financial Model
Zakir Patel 4/16/2015 660 4 2;640.00 Teaser/NDA/Process Letter/Buyers list/Financial Model
Zakir Patel 4/17/2015 660 2 1,320.00 Teaser/NDA/Process Letter/Buyers List/Financial Model
Zakir Patel 4/20/2015 660 4 2,640.00 Teaser/NDA/Process Letter/Buyers List/Financial Model
Zakir Patel 4/21/2015 660 4 2,640.00 Teaser/NDA/Process Letter/Buyers List/Financial Model
Zakir Patel 4/22/2015 660 3 1,980.00 Teaser/NDA/Process Letter/Buyers list/Financial Model
Zakir Patel 4/23/2015 660 3 1,980.00 Teaser/NDA/Process Letter/Buyers list/Financial Model
Zakir Patel 4/27/2015 660 3 1,980.00 Teaser/ClM Work and Review Buyer List Zakir Patel 4/28/2015 660 4 2,640.00 Teaser/CIM Work and Review Buyer List Zakir Patel 4/29/2015 660 2.5 1,650.00 Teaser/ClM Work and Review Buyer List Zakir Patel 4/30/2015 660 2.5 1,650.00 Teaser/CIM Work and Review Buyer list Sub-total 36.0 23,760.00
Zahir Palon 12/1/2014 500 2 1,000.00 Canadian Receivership Documents. Zahir Palon 12/2/2014 500 2 1,000.00 Canadian Receivership Documents. Zahir Palon 12/3/2014 500 8 4,000.00 Canadian Receivership Documents. Zahir Palon 12/4/2014 500 10 5,000.00 Travel, prepare and attend meetings in Medellin with
Seafield. Sub-total 22.0 11,000.00
Jenny Brearton 4/20/2015 250 5 1,250.00 Teaser/NDA/Process Letter/Buyers list/Financial Model
Jenny Brearton 4/21/2015 250 5 1,250.00 Internal Meeting Teaser. Jenny Brearton 4/22/2015 250 5 1,250.00 Process letter and CA Creation Internal meeting.
221
Jenny Brearton 4/23/2015 250 2 500.00 Process Letter and CA Edits. Jenny Brea.rton 4/27/2015 250 1 250.00 Teaser/NDA/Process Letter/Buyers List/Financial Model.
Jenny Brearton 4/28/2015 250 2 500.00 Teaser/NDA/Process Letter/Buyers List/Financial Model.
Jenny Brearton 4/29/2015 250 4 1,000.00 CIMCall. Jenny Brearton 4/30/2015 250 5 1,250.00 Teaser Edits/Buyer List/CIM Sub-total 29.0 7,250.00
James Mcintosh 4/20/2015 250 1.5 375.00 Teaser/NDA/Process Letter/Buyers List/Financial Model
James Mcintosh 4/21/2015 250 6 1,500.00 Teaser/NDA/Process Letter/Buyers List/Financial Model
James Mcintosh 4/22/2015 250 2.5 625.00 Teaser/NDA/Process Letter/Buyers List/Financial Model
James Mcintosh 4/23/2015 250 3 750.00 Teaser/NDA/Process Letter/Buyers List/Financial Model
James Mcintosh 4/27/2015 250 6.5 1,625.00 Teaser/CIM Work and Review Buyer List James Mcintosh 4/28/2015 250 6 1,500.00 Teaser/CIM Work and Review Buyer List James Mcintosh 4/29/2015 250 8 2,000.00 Teaser/CIM Work and Review Buyer List James Mcintosh 4/30/2015 250 8.5 2,125.00 Teaser/CIM Work and Review Buyer List Sub-total 42.0 10,500.00
Michael Schwartzentruber 12/1/2014 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 12/2/2014 250 0.2 50.00 Review Email Correspondence. Michael Schwartzentruber 12/8/2014 250 0.2 50.00 Review Email Correspondence. Michael Schwartzentruber 12/11/2014 250 0.3 75.00 Review Email Correspondence.
Michael Schwartzentruber 12/12/2014 250 0.3 75.00 Review Email Correspondence. Michael Schwartzentruber 12/15/2014 250 0.3 75.00 Review Email Correspondence. Michael Schwartzentruber 12/16/2014 250 0.3 75.00 Review Email Correspondence. Michael Schwartzentruber 12/18/2014 250 0.3 75.00 Review Email Correspondence.
Michael Schwartzentruber 12/22/2014 250 0.1 25.00 Review Email Correspondence. Michael Schwartzentruber 1/6/2015 250 2 500.00 Review Email Correspondence. Michael Schwartzentruber 1/26/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 1/30/2015 250 0.2 50.00 Review Email Correspondence. Michael Schwartzentruber 2/2/2015 250 0.1 25.00 Review Email Correspondence. Michael Schwartzentruber 2/3/2015 250 0.3 75.00 Review Email Correspondence. Michael Schwartzentruber 2/4/2015 250 0.2 50.00 Review Email Correspondence. Michael Schwartzentruber 2/10/2015 250 0.1 25.00 Review Em~il Correspondence.
Michael Schwartzentruber 2/11/2015 250 0.3 75.00 Review Email Correspondence. Michael Schwartzentruber 2/13/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 2/17/2015 250 4.5 1,125.00 Review HST amounts payable for July-Sep 9 receivership date. Work on filing a Nil return for the period with CRA. Work on creating and filing T4's for the taxation year 2014. Answer questions for CRA regarding payroll, Pull supporting files for the CRA and answer related questions.
Michael Schwartzentruber 2/18/2015 250 0.1 25.00 Review Email Correspondence.
Michael Schwartzentruber 2/19/2015 250 2.3 575.00 Draft written response to CRA.
Michael Schwartzentruber 2/23/2015 250 0.6 150.00 Review Email Correspondence. Michael Schwartzentruber 2/24/2015 250 0.3 75.00 Review Email Correspondence.
Michael Schwartzentruber 2/25/2015 250 0.1 25.00 Review Email Correspondence.
Michael Schwartzentruber 2/26/2015 250 0.3 75.00 Review Email Correspondence. Michael Schwartzentruber 2/27/2015 250 0.2 50.00 Review Email Correspondence. Michael Schwartzentruber 3/2/2015 250 1.6 400.00 Draft section of Court report on Monitor's activities.
222
Michael Schwartzentruber 3/3/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 3/4/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 3/5/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 3/6/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 3/9/2015 250 0.4 100.00 Review Email Correspondence.
Michael Schwartzentruber 3/10/2015 250 1.5 375.00 Coordinate with insurance broker re: expiring insurance policies ad current insurance needs of Seafield, respond to inquiring emails form equity holders.
Michael Schwartzentruber 3/11/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 3/12/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 3/13/2015 250 0.3 75.00 Review Email Correspondence.
Michael Schwartzentruber 3/16/2015 250 0.7 175.00 Review Email Correspondence.
Michael Schwartzentruber 3/17/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 3/18/2015 250 0.1 25.00 Review Email Correspondence.
Michael Schwartzentruber 3/19/2015 250 0.1 25.00 Review Email Correspondence.
Michael Schwartzentruber 3/20/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 3/23/2015 250 1.7 425.00 Research SISP reports to build a basis for inclusion in Monitor's report, work on drafting updated SISP time line.
Michael Schwartzentruber 3/24/2015 250 3.7 925.00 Follow up on insurance contract renewal, work on completion of court report and further finalization of SISP timeline.
Michael Schwartzentruber 3/25/2015 250 4.5 1,125.00 Review changes to SISP table, SISP slide deck, update wording on SISP section of court report.
Michael Schwartzentruber 3/27/2015 250 0.5 125.00 Review Email Correspondence.
Michael Schwartzentruber 3/30/2015 250 1 250.00 Work on renewal and review of various insurance policy quotes and related coverages.
Michael Schwartzentruber 3/31/2015 250 0.2 50.00 Review Email Correspondence.
Michael Schwartzentruber 4/1/2015 250 0.3 75.00 Review insurance requirements for restructuring professionals.
Michael Schwartzentruber 4/2/2015 250 3.2 800.00 Review updated technical info posted by SRK in Data room, pull relevant material for meeting on indicative valuation discussion. Insurance quote review for insolvency practitioners and for General liability, review Email correspondence.
Michael Schwartzentruber 4/6/2015 250 0.3 75.00 Review Email Correspondence. Michael Schwartzentruber 4/8/2015 250 1.3 325.00 Research and get quotes to benchmark insurance
premiums. Review Email Correspondence. Michael Schwartzentruber 4/9/2015 250 0.5 125.00 Review email correspondence Call Joanne about
insurance for properties. Michael Schwartzentruber 4/15/2015 250 2.7 675.00 Review Email Correspondence; External Insurance
quotes from Broker and discussion of policy coverage's, requirements and details; research and·get quotes to benchmark insurance premiums based on specifics of property and coverage required.
Michael Schwartzentruber 4/16/2015 250 0.5 125.00 Review email correspondence Call Joanne about insurance for properties.
Michael Schwartzentruber 4/17/2015 250 0.4 100.00 Review Email Correspondence Seafield discuss with Joanne insurance policy and particulars.
Michael Schwartzentruber 4/20/2015 250 1.2 300.00 Review Email Correspondence.
Michael Schwartzentruber 4/22/2015 250 1.5 375.00 Review updated draft Monitor's report. Michael Schwartzentruber 4/23/2015 250 0.8 200.00 Review edits to Monitor's report, Monitor.email
correspondence. Michael Schwartzentruber 4/27/2015 250 0.3 75.00 Review Email Correspondence.
223
Michael Schwartzentruber 4/28/2015 250 0.3 75.00 Review Email Correspondence. Michael Schwartzentruber 4/29/2015 250 0.3 75.00 Review Email Correspondence. Michael Schwartzentruber 4/30/2015 250 0.3 75.00 Review Email Correspondence.
Sub-total 46.0 11,500.00
Asya Rzhevsky 12/10/2014 200 0.3 60.00 Prepare Nov 30 bank reconciliations. Asya Rzhevsky 12/15/2014 200 0.3 60.00 Prepare cheque to RBC re payout of visa card. Asya Rzhevsky 12/23/2014 200 0.8 160.00 Telephone with bank rewire from RMB Australia,
prepare and fax to CJBC wire to Seafield Minera S.A.S. post to R&D.
Asya Rzhevsky 1/13/2015 200 0.2 40.00 Prepare Dec 31 bank reconciliations. Asya Rzhevsky 1/28/2015 200 0.3 60.00 Email to CIBC rewires, post wires to Special trust and
receivers accounts. Asya Rzhevsky 1/29/2015 200 1.8 360.00 Reconciliation offunds in Special Trust and Receivers
accounts, prepare and process cheques to McMillan LLP and KPMG Inc. prepare wire to price to Crrizosa.
Asya Rzhevsky 2/10/2015 200 0.1 20.00 Prepare invoice from Bureau Veritas for payment to AP.
Asya Rzhevsky 2/11/2015 200 0.2 40.00 Prepare January 2015 bank reconciliations. Asya Rzhevsky 2/17/7.015 200 0.5 100.00 Meeting with CRA re payroll audit. Asya Rzhevsky 2/18/2015 200 1.2 240.00 Prepare 2014 payroll summary schedule, prepare T$ and
T4 summary, mail to CRA and employees. Asya Rzhevsky 2/19/2015 200 0.3 60.00 Calls and fax to l. Fang CRA tax auditor. Asya Rzhevsky 3/2/2015 200 0.3 60.00 Prepare deposit sale of shares. Asya Rzhevsky 3/3/2015 200 0.5 100.00 Prepare boxes for storage. Asya Rzhevsky 3/10/2015 200 0.4 80.00 Discussion with l. Fang CRA re audit, prepare bank
reconciliations. Asya Rzhevsky 3/12/2015 200 0.3 60.00 Prepare and mail cheque. Asya Rzhevsky 3/16/2015 200 0.2 40.00 PDF T4's, prepare email. Asya Rzhevsky 3/17/2015 200 0.3 60.00 Prepare cheque. Asya Rzhevsky 3/25/2015 200 0.5 100.00 Discussion and fax from CRA, prepare cheque for
deemed trust claim. Asya Rzhevsky 4/15/2015 200 0.2 40.00 Prepare bank reconciliations. Asya Rzhevsky 4/29/2015 200 3.2 640.00 Prepare listing of 21 company records boxes for off-site
retention. Sub-total 11.9 2,380.00
Total 421.6 238,221.00
224
KPMG Inc. Payment Address: Suite 4600 Bay Adelaide Centre 333 Bay Street
KPMG LLP, T4348
Toronto, ON M5H 2S5 P.O. Box 4348, Station A Toronto, ON M5W 7A6
January 21,2016
RMB Resources Inc. 3500 South Wadsworth Boulevard Suite 405 Lakewood, co 80235, USA
Invoice Reference Client Contact Telephone Email
For professional services rendered as Receiver of Seafield Resources Ltd. for the period May 1, 2015 to May 31, 2015, pursuant to an order of the Ontario Superior Court of Justice on September 9, 2014.
Payment is due upon receipt
Our Fee Disbursements
HST
Amount Due
GST/HST Number 12236 3153 RT0001 QST Registration 1023774310 TQ0001
: 80009444 72 : 2000275484 : 1001563689 : Philip Reynolds : (416) 777-8415 : pjreynolds@kpmg .ca
$
$
$
113,059.00 CAD 162.00
113,221.00 CAD
14,718.73
127,939.73 CAD
)C ·------------------------------~--------------------------------------------------------------- ------------------------------
CAD Cheque Payments: KPMG LLP, T4348, P.O. Box 4348, Station A, Toronto, ON M5W 7A6 Please return remittance advice with cheque.
Invoice No: 8000944472 Reference: 2000275484 Client: 1001563689 Amount: $ 127,939.73
KPMG LLP is a Canadian limited liability partnership and member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative eKPMG International"), a Swiss entity. KPMG Canada provides services to KPMG LLP.
CAD
Page 1 of 1
225
Professional Fees Summary For the period May 1, 2015 to May 31, 2015
Name Position Rate Hours Fee ($)
Philip Reynolds Partner 750 19.0 14,250.00
Ryan Adlington Partner 750 43.0 32,250.00
Peter Hatges Partner 750 4.0 3,000.00
Camilo Gonzalez Partner 750 3.0 2,250.00
Aaron Collier Senior Manager 660 22.9 15,114.00
Zakir Patel Senior Manager 660 34.5 22,770.00
Michael Schwartzentruber Senior Consultant 250 11.7 2,925.00
Jenny Brearton Senior Consultant 250 31.5 7,875.00
James Mcintosh Senior Consultant 250 50.5 12,625.00
Total 220.1 113,059.00
Expense Summary For the period May 1, 2015 to May 31, 2015
Type Nature Amount($)
Other Expenses 162.00
Total 162.00
226
RMB Seafield Resources Inc.
Time Narrative
For the period May 1, 2015 to May 31, 2015
Name Date Rate Hours Amount Description
Philip Reynolds 05/01/2015 750 2.50 1,875.00 Review draft sales process document and CIM; make comments thereon; review and comment on Receivers First Court Report {including SISP).
Philip Reynolds 05/02/2015 750 1.00 750.00 Review comments received on Receiver's First Court Report from Stikemans; attend to various emails relating to same.
Philip Reynolds 05/04/2015 750 1.50 1,125.00 Review updated First Report of Receiver with further comments from McMillan and PPU; provide further comments thereon.
Philip Reynolds 05/05/2015 750 1.50 1,125.00 Review and discuss SISP timing with R. Adlington and proposed amendments to time line; review updated version of Receiver's First Court Report {including appendices).
Philip Reynolds 05/06/2015 750 1.00 750.00 Review amended Court report {SISP changes, other}.
Philip Reynolds 05/07/2015 750 0.50 375.00 Update discussion with RMB. Philip Reynolds 05/11/2015 750 1.50 1,125.00 Review updated Teaser; review final Notice of Motion
and Motion Record. Philip Reynolds 05/12/2015 750 0.50 375.00 Review filing factum. Philip Reynolds 05/13/2015 750 1.50 1,125.00 Review Updated CIM, Teaser, Process Jetter and NDA.
Philip Reynolds 05/14/2015 750 1.00 750.00 Review McMillan's comments on all sale process materials.
Philip Reynolds 05/17/2015 750 2.50 1,875.00 Review motions of D. Prins; review draft of Monitor's Supplemental Report; discuss same internally and with McMillan.
Philip Reynolds 05/18/2015 750 2.00 1,500.00 Attend motion in Court and prepare for same; debrief with McMillan and Stikemans.
Philip Reynolds 05/20/2015 750 1.00 750.00 Attend internal SISP kick off call with KPMG Corporate Finance.
Philip Reynolds 05/29/2015 750 1.00 750.00 Review update of sales process {to be provided to RMB}; provide comments thereon.
Subtotal 19.00 14,250.00
Ryan Adlington 05/04/2015 750 2.50 1,875.00 Assisting and review KPMG CF preparation of sales related documents.
Ryan Adlington 05/05/2015 750 3.50 2,625.00 Meetings with KPMG CF; Review ofSISP with P. Reynolds; Review of court report and related materials; Discussions with RMB counsel.
Ryan Adlington 05/06/2015 750 3.00 2,250.00 Continued editing of the draft Court Report; Discussions with RMB counsel.
Ryan Adlington 05/07/2015 750 3.50 2,625.00 Drafting and review edits of the Court Report; calls and email correspondence with McMillan and other stakeholders.
Ryan Adlington 05/08/2015 750 2.00 1,500.00 Review and final edits of the Court Report; calls and email correspondence with McMillan and other stakeholders.
Ryan Adlington 05/11/2015 750 2.00 1,500.00 Discussions with KPMG CF regarding Teaser and CIM; final review and filing of Receivers Report.
227
Ryan Adlington 05/12/2015 750 1.50 1,125.00 Review of CF documents; Internal discussions regarding the same.
Ryan Adlington 05/13/2015 750 2.00 1,500.00 Review of Receivers Factum, discussions with CF regarding process and timing.
Ryan Adlington 05/14/2015 750 2.50 1,875.00 Drafting and review of draft sales process documents, including calls and correspondence with McMillan.
Ryan Adlington 05/15/2015 750 1.50 1,125.00 Review of sales process documents; correspondence with McMillan and SRK regarding process documents and related edits.
Ryan Adlington 05/16/2015 750 2.00 1,500.00 Review of David Prins correspondence; Internal discussions and discussions with McMillan regarding same and potential supplemental report.
Ryan Adlington 05/18/2015 750 1.50 1,125.00 Drafting of supplemental report. Ryan Adlington 05/19/2015 750 4.50 3,375.00 Continued drafting and review of supplemental report;
correspondence with McMillan regarding same; correspondence with Stikemans regarding supplemental rep~rt; Review of comments from Stikemans and SRK on the safes process documents; Working with KPMG CF on revisions to sales process documents and understanding of the court process.
Ryan Adlington 05/20/2015 750 3.00 2,250.00 Review and finalizing NDA and Process Letters; Final review of Teaser; Email correspondence with Counsel; Internal discussions regarding sales process; Kick off sales process call; Email correspondence with RMB.
Ryan Adlington 05/21/2015 750 3.00 2,250.00 Discussions with Canadian counsel regarding CIM and Teaser disclaimer; Review of newspaper/trade publication advertisement, conference call with RMB Energy; Discussions with KPMG CF regarding sales process.
Ryan Adlington 05/22/2015 750 1.00 750.00 Finalizing press release; review of trade publications information; Call with KPMG CF regarding early stage process issues and list of prospective purchasers.
Ryan Adlington 05/25/2015 750 1.50 1,125.00 E-mail correspondence with RMB regarding prospective sales list; Internal discussions regarding same.
Ryan Adlington 05/26/2015 750 0.50 375.00 Sales process update meeting with KPMG CF. Ryan Adlington 05/27/2015 750 1.00 750.00 Review of sales process correspondence;
Correspondence with RMB regarding prospective buyer fist, etc.
Ryan Adlington 05/28/2015 750 0.50 375.00 Review of daily sales process data; Internal discussions with KPMG CF.
Ryan Adlington 05/29/2015 750 0.50 375.00 Correspondence with McMillan regarding a consultancy agreement related to the sales process; general discussions with KPMG CF.
Sub-total 43.00 32,250.00
Peter Hatges 05/11/2015 750 1.00 750.00 Teaser, CIM and Buyer List review. Peter Hatges 05/13/2015 750 1.00 750.00 NDA and Teaser review. Peter Hatges 05/21/2015 750 2.00 1,500.00 NDA, CIM and Teaser review. Sub-total 4.00 3,000.00
Camilo Gonzalez 05/21/2015 750 3.00 2,250.00 Attend meeting with Seafield. Sub-total 3.00 2,250.00
228
Aaron Collier 05/05/2015 660 1.20 792.00 Preparation of the Receiver's First Report to Court.
Aaron Collier 05/06/2015 660 3.80 2,508.00 Preparation of the Receiver's First Report to Court.
Aaron Collier 05/07/2015 660 2.60 1,716.00 Preparation of the Receiver's First Report to Court.
Aaron Collier 05/08/2015 660 2.40 1,584.00 Preparation of the Receiver's First Report to Court.
Aaron Collier 05/11/2015 660 1.80 1,188.00 Final updates to the Receivers First Report to Court. Email to McMillan to serve materials.
Aaron Collier 05/13/2015 660 0.60 396.00 Updates to the confidential information memorandum and email to McMillan to circulate final drafts.
Aaron Collier 05/15/2015 660 0.90 594.00 Emails to RMB, SRK and PPU to request any final comments on Seafield sales documents. Request permission from RMB/ SRK for use of 2015 Technical information.
Aaron Collier 05/19/2015 660 0.40 264.00 Updates to process letter. Aaron Collier 05/20/2015 660 3.60 2,376.00 Attendance at Court for approval
of the Receiver's First Report to Court and SISP.Internal meeting following court approval to kick-off sales process.
Aaron Collier 05/21/2015 660 3.30 2,178.00 Drafting of newspaper ad and circulate to R. Adlington and McMillan for review. Internal discussions and research regarding newspaper/ periodical advertisements to advertise sales process.
Aaron Collier 05/22/2015 660 0.80 528.00 Review and internal discussion of summary for newspaper/ periodical advertisement options. Email to P. Reynolds and R. Adlington to approve recommended option.
Aaron Collier 05/25/2015 660 1.20 792.00 Review of advertisement for publication. Internal update on sales process.
Aaron Collier 05/26/2015 660 0.30 198.00 Finalization of newspaper advertisements.
Sub-total 22.90 15,114.00
Zakir Patel 05/01/2015 660 0.50 330.00 Teaser and CIM Work and Review Buyer list. Zakir Patel 05/05/2015 660 2.50 1,650.00 Review of Teaser and CIM. Zakir Patel 05/13/2015 660 2.00 1,320.00 NDA Review and Edits and CIM and Teaser Edits. Zakir Patel 05/14/2015 660 1.50 990.00 NDA Review and Edits and CIM and Teaser Edits. Zakir Patel 05/15/2015 660 2.00 1,320.00 NDA Review and Edits and CIM and Teaser Edits. Zakir Patel OS/20/2015 660 3.50 2,310.00 Contacting Buyers, Sending Emails and making calls,
Follow-ups with contacted parties. Zakir Patel 05/21/2015 660 5.00 3,300.00 Contacting Buyers, Sending Emails and making calls,
Follow-ups with contacted p'arties. Zakir Patel 05/22/2015 660 5.00 3,300.00 Contacting Buyers, Sending Emails and making calls,
Follow-ups with contacted parties. Zakir Patel 05/25/2015 660 2.50 1,650.00 Contacting Buyers, Sending Emails and making calls,
Follow-ups with contacted parties.
229
Zakir Patel 05/26/2015 660 2.50 1,650.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
Zakir Patel 05/27/2015 660 3.00 1,980.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
Zakir Patel 05/28/2015 660 3.50 2,310.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
Zakir Patel 05/29/2015 660 1.00 660.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
Sub-total 34.50 22,770.00
Michael Schwartzentruber 05/01/2015 250 0.20 50.00 Review Email Correspondence. Michael Schwartzentruber 05/04/2015 250 0.30 75.00 Review Email Correspondence. Michael Schwartzentruber 05/05/2015 250 0.30 75.00 Review Email Correspondence. Michael Schwartzentruber 05/06/2015 250 0.30 75.00 Review Email Correspondence. Michael Schwartzentruber 05/07/2015 250 0.20 50.00 Review Email COrrespondence. Michael Schwartzentruber 05/08/2015 250 0.30 75.00 Review Email Correspondence. Michael Schwartzentruber 05/11/2015 250 1.40 350.00 Review Email Correspondence. Michael Schwartzentruber 05/12/2015 250 0.30 75.00 Review Email Correspondence. Michael Schwartzentruber 05/13/2015 250 0.30 75.00 Review Email Correspondence. Michael Schwartzentruber 05/14/2015 250 0.40 100.00 Review email correspondence, respond to email inquiries
from external creditor links site. Michael Schwartzentruber 05/15/2015 250 0.20 50.00 Review Email Correspondence. Michael Schwartzentruber 05/19/2015 250 0.50 125.00 Review Email Correspondence and corresponding
Monitor's affidavits, affidavit of D. Prins. Michael Schwartzentruber 05/20/2015 250 1.40 350.00 Review Email Correspondence, review Seafield SISP
approval order, coordinate posting all documents to the KPMG external creditor links website with McMillan.
Michael Schwartzentruber 05/21/2015 250 3.00 750.00 Prepare updated information for upload and posting to KPMG external creditor links site, review and provide edits to IT before launch of External creditor links site, finalize with McMillan and A. Collier. Review email correspondence, compare Seafield NDA drafts.
Michael Schwartzentruber 05/22/2015 250 0.30 75.00 Review Email Correspontlence. Michael Schwartzentruber 05/25/2015 250 0.30 75.00 Review Email Correspondence. Michael Schwartzentruber 05/26/2015 250 0.50 125.00 Review email correspondence, update Dec.12014 to April
30 2015 bill with updated time narratives. Michael Schwartzentruber 05/27/2015 250 0.30 75.00 Review inter-firm agreement and email correspondence.
Michael Schwartzentruber 05/28/2015 250 0.20 50.00 Review Email Correspondence. Michael Schwartzentruber 05/29/2015 . 250 1.00 250.00 Review Email Correspondence. Updating chart for trading
volumes. Prepare April2015 bank reconciliation.
Sub-total 11.70 2,925.00
James Mcintosh 05/01/2015 250 2.00 500.00 Teaser compilation. Buyer list compilation and review.
James Mcintosh 05/04/2015 250 2.50 625.00 Teaser compilation. Buyer list compilation and review.
James Mcintosh 05/05/2015 250 4.00 1,000.00 Teaser compilation. Buyer list compil~tion and review.
James Mcintosh 05/13/2015 250 4.50 1,125.00 CIM and Teaser compilation and edits. Buyer list compilation and review.
James Mcintosh 05/14/2015 250 2.00 500.00 CIM and Teaser compilation and edits. Buyer Jist compilation and review.
James Mcintosh 05/19/2015 250 4.00 1,000.00 CIM and Teaser cor:npilation and edits. Buyer list compilation and review.
230
James Mcintosh 05/20/2015 250 5.00 1,250.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
James Mcintosh 05/21/2015 250 4.00 1,000.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
James Mcintosh 05/22/2015 250 3.00 750.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
James Mcintosh 05/24/2015 250 2.00 500.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
James Mcintosh 05/25/2015 250 2.00 500.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
James Mcintosh 05/26/2015 250 2.00 500.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
James Mcintosh 05/27/2015 250 4.00 1,000.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties. ·
James Mcintosh 05/28/2015 250 4.50 1,125.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
James Mcintosh 05/29/2015 250 4.00 1,000.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
James Mcintosh 05/30/2015 250 1.00 250.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
Sub-total 50.50 12,625.00
Jenny Brearton 05/01/2015 250 5.00 1,250.00 Compilation of Buyer's list. Jenny Brearton 05/04/2015 250 3.00 750.00 Teaser compilation. Buyer list compilation and review.
Jenny Brearton 05/05/2015 250 2.00 500.00 Teaser compilation. Buyer list compilation and review.
Jenny Brearton 05/06/2015 250 1.50 375.00 Teaser compilation. Buyer list compilation and review.
Jenny Brearton 05/08/2015 250 3.00 750.00 Teaser compilation. Buyer list compilation and review.
Jenny Brearton 05/13/2015 250 1.00 250.00 CIM and Teaser compilation and edits. Buyer list compilation and review.
Jenny Brearton 05/18/2015 250 3.00 750.00 CIM and Teaser compilation and edits. Buyer list compilation and review.
Jenny Brearton 05/19/2015 250 2.00 500.00 CIM and Teaser compilation and edits. Buyer list compilation and review.
Jenny Brearton 05/20/2015 250 2.00 500.00 Contacting Buyers, Sending Emails and making calls, FolloW-~;JPS with contacted parties.
Jenny Brearton 05/25/2015 250 4.00 1,000.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
Jenny Brearton 05/26/2015 250 3.00 750.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
Jenny Brearton 05/27/2015 250 1.00 250.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
Jenny Brearton 05/29/2015 250 1.00 250.00 Contacting Buyers, Sending Emails and making calls, Follow-ups with contacted parties.
Sub-total 31.50 7,875.00
Total 220.10 113,059.00
t '··-~-
231
KPMG Inc. Payment Address: Suite 4600 Bay Adelaide Centre 333 Bay Street
KPMG LLP, T4348
Toronto, ON M5H 2S5 P.O. Box 4348, Station A Toronto, ON M5W 7A6
January 21, 2016
RMB Resources Inc. 3500 South Wadsworth Boulevard Suite405 Lakewood, CO 80235, USA
Invoice Reference Client Contact Telephone Email
For professional services rendered as Receiver of Seafield Resources Ltd. for the period June 1, 2015 to June 30, 2015, pursuant to an order of the Ontario Superior Court of Justice on September 9, 2014.
Our Fee Disbursements
HST
Amount Due
Payment is due upon receipt . GST/HST Number 12236 3153 RT0001 QST Registration 1023774310 TQ0001
: 8000944470 : 2000275484 : 1 001563689 : Philip Reynolds : (416) 777-8415 : [email protected]
$
$
$
65,935.00 CAD 6,245.25
72,180.25 CAD
9,383.43
81,563.68 CAD
)< ·---------------------------------------------------------------------------------------------- ------------------------------
CAD Cheque Payments: KPMG LLP, T4348, P.O. Box 4348, Station A, Toronto, ON M5W 7A6 Please return remittance advice with cheque.
Invoice No: 8000944470 Reference: 2000275484 Client: 1001563689 Amount: $ 81,563.68
KPMG LLP is a Canadian limited liability partnership and member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG Canada provides services to KPMG LLP.
CAD
Page 1 of 1
232
. RMB Seafield Resources Inc. Time Summary for the period June 1, 2015 to June 30, 2015
Name Position Rate Hours Fee ($)
Philip Reynolds Partner 750 8.5 6,375.00
Ryan Adlington Partner 750 33.0 24,750.00
Peter Hatges Partner 750 4.0 3,000.00
Camilo Gonzalez Partner 750 9.0 6,750.00
Zakir Patel Senior Manager 660 9.8 6,435.00
Michael Schwartzentruber Senior Consultant 250 11.5 2,875.00
James Mcintosh Senior Consultant 250 63.0 15,750.00
Total 138.8 65,935.00
Expense Summary For the period June 1, 2015 to June 30, 2015
Type Nature Amount($)
Other Expenses
Total
Data site costs corresponding with sales process. 6,245.25
6,245.25
233
RMB Seafield Resources Inc.
lime Narrative
For the period June 1, 2015 to June 30, 2015
Name Date Rate Hours Amount Description
Philip Reynolds 6/2/2015 750 1 750.00 Review status of sales process and various marked up non-disclosure agreements from prospective bidders.
Philip Reynolds 6/4/2015 750 2 1,500.00 Discussion with McMillan regarding various markups of NDA's and contractor agency agreement (regarding assistance with furthei- inine planning and property attributes with prospective purchasers). Review markup of NDA from Metminco re: possible sales process interest and debt purchase; discuss tax issues in hiring an agent to assist with sales process with McMillan.
Philip Reynolds 6/5/2015 750 1 750.00 Review independent contractor agreement (draft) re: G. Harris; review status report on sales procedure activities and results to date and provide comments thereon toR. Adlington.
Philip Reynolds 6/11/2015 750 0.8 600.00 Review update sales process activities report and discuss with KPMG corporate finance team.
Philip Reynolds 6/12/2015 750 0.5 375.00 Review His Honour's endorsement regarding SISP order and other relief requested. Meet with R. Adlington regarding Metminco.
Philip Reynolds 6/16/2015 750 1.5 1,125.00 Status update with R. Adlington; review status of continuing sales process, execution of various non-disclosure agreements and proposed update to RMB.
Philip Reynolds 6/17/2015 750 0.7 525.00 Review updated markup of Metminco non-disclosure agreement and discuss with R. Adlington.
Philip Reynolds 6/18/2015 750 0.5 375.00 Call with D. Beltran, McMillan and A. Belevan re: removal of Measure of Control.
Philip Reynolds 6/23/2015 750 0.5 375.00 Discuss proposed consultancy arrangements with G. Harris with R. Adlington, A. Vogel and McMillan.
Sub·total 8.50 6,375.00
Ryan Adlington 6/1/2015 750 1 750.00 Update meeting with KPMG Corporate Finance regarding the sales process.
Ryan Adlington 6/2/2015 750 1.5 1,125.00 Call with McMillan regarding fees and consultancy agreement.
Ryan Adlington 6/3/2015 750 1.5 1,125.00 Review of NDA mark-up from Brazil; Discussions with McMillan regarding same.
Ryan Adlington 6/4/2015 750 2.5 1,875.00 Correspondence with Canadian counsel; review of NDAs, discussions with CF.
Ryan Adlington 6/5/2015 750 2.5 1,875.00 Correspondence with Australia; review of weekly reporting package to RMB; Correspondence with McMillan regarding consultancy letter and Brazil resources NDA; detailed discussions regarding sales process progress and contacting all prospective buyers.
Ryan Adlington 6/7/2015 750 1.5 1,125.00 Internal update calls with CF regarding progress on contacting Australian prospective buyers.
Ryan Adlington 6/8/2015 750 2 1,500.00 Update call with KPMG CF; review a.nd finalizing of week 2 sales summary; review of McMillan's response to Brazils NDA mark-up; email correspondence with RMB.
Ryan Adlington 6/9/2015 750 1.5 1,125.00 Review of NDA; ~orrespondence to Brazil Resources; update call with KPMG Corporate Finance; call with RMB regarding agreements and Metminco.
234
Ryan Adlington 6/11/2015 750 2.5 1,875.00 Review of updated KPMG CF sales process results; Conference call with Rick, Alvaro,.Arnold regarding sales process, consulting contract, etc.
Ryan Adlington 6/12/2015 750 1 750.00 Internal discussions with P. Reynolds; crafting response regarding Metminco.
Ryan Adlington 6/15/2015 750 1 750.00 Review of revised advertisement; discussions with KPMG Corporate Finance; review of week 3 reporting.
Ryan Adlington 6/17/2015 750 2 1,500.00 Review uPdated markup of Metminco non-disclosure agreement and discuss with P. Reynolds.
Ryan Adlington 6/18/2015 750 1.5 1,125.00 Preparation of email to Metminco; internal discussions with counsel; review of sales process to date.
Ryan Adlington 6/19/2015 750 0.5 375.00 Review of updated Teaser and Process letter; preparation of correspondence toP. Reynolds; Internal discussions regarding the sales process.
Ryan Adlington 6/22/2015 750 1.5 1,125.00 Review of Week 4 sales process update; review of revised NDA with Brazil; preparing correspondence to Brazil.
Ryan Adlington 6/23/2015 750 2.5 1,875.00 Review of Geriant consultancy agreement; Call with Arnold; correspondence with counsel.
Ryan Adlington 6/24/2015 750 1.5 1,125.00 Call with RMB regarding consultancy agreement; discussions regarding ·sales process.
Ryan Adlington 6/25/2015 750 2.5 . 1,875.00 liaising with KPMG Corporate Finance regarding sales process. Review of NDA and follow up with additional information request. Email correspondence with RMB.
Ryan Adlington 6/29/2015 750 1 750.00 liaising with KPMG corporate finance regarding sales process.
Ryan Adlington 6/30/2015 750 1.50 1,125.00 Review of NDA and follow up With additional information request.
Sub-total 33 24,750.00
Peter Hatges 6/1/2015 750 1 750.00 Review Buyer list, Teaser and CIM. Peter Hatges 6/8/2015 750 1 750.00 Review Buyer list, Teaser and CIM. Peter Hatges 6/10/2015 750 1 750.00 Review Buyer list, Teaser and CIM. Peter Hatges 6/12/2015 750 1 750.00 Review Buyer list, Teaser and CIM. Sub-total 4.0 3,000.00
Camilo Gonzalez 6/12/2015 750 2 1,500.00 Review Canadian Receivership Documents; Email correspondence and revisions.
Camilo Gonzalez 6/18/2015 750 1 750.00 Reviewed Seafield related documents and prepared comments/revisions.
Camilo Gonzalez 6/30/2015 750 6 4,500.00 Reviewed Seafield related documents and prepared comments/revisions.
Sub-total 9.0 6,750.00
Zakir Patel 6/11/2015 660 1 660.00 Buyer Contact/Update and Review of Contact logs.
Zakir Patel 6/12/2015 660 0.5 330.00 Buyer Contact/Update and Review of Contact logs. Zakir Patel 6/15/2015 660 2 1,320.00 Buyer communication. Zakir Patel 6/16/2015 660 1 660.00 Buyer communication. Zakir Patel 6/17/2015 660 1 660.00 Buyer communication. Zakir Patel 6/18/2015 660 0.5 330.00 Buyer communication. Zakir Patel 6/19/2015 660 0.5 330.00 Teaser I CIM Work and Review Buyer list. Zakir Patel 6/22/2015 660 0.5 330.00 Buyer communication. Zakir Patel 6/23/2015 660 0.25 165.00 Buyer communication. Zakir Patel 6/24/2015 660 0.5 330.00 Buyer communication. Zakir Patel 6/25/2015 660 0.5 330.00 Buyer communication. Zakir Patel 6/26/2015 660 0.5 330.00 Buyer communication. Zakir Patel 6/29/2015 660 1 660.00 Process update, buyer communication. Sub-total 9.8 6,435.00
James Mcintosh 6/1/2015 250 1.5 375.00 Buyer communication and updating summary buyer material.
235
James Mcintosh 6/3/2015 250 2 500.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/4/2015 250 3 750.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/5/2015 250 12.5 3,125.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/6/2015 250 1 250.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/7/2015 250 4 1,000.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/8/2015 250 3.5 875.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/9/2015 250 5 1,250.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/10/2015 250 3.5 875.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/11/2015 250 4 1,000.00 Buyer communication and updating summary buyer material. James Mcintosh 6/12/2015 250 2.5 625.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/13/2015 250 0.5 125.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/15/2015 250 4.5 1,125.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/16/2015 250 1 250.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/17/2015 250 2 500.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/19/2015 250 1 250.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/22/2015 250 5.5 1,375.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/23/2015 250 1 250.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/29/2015 250 2 500.00 Buyer communication and updating summary buyer material.
James Mcintosh 6/30/2015 250 3 750.00 Buyer communication and updating summary buyer material.
Sub-total 63.0 15,750.00
Michael Schwartzentruber 6/1/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/2/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/3/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/4/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/5/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/8/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/9/2015 250 03 75.00 Review email correspondence. Michael Schwartzentruber 6/10/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/11/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/12/2015 250 0.8 200.00 Review Email Correspondence, Post court documents to
website. Michael Schwartzentruber 6/15/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/16/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/17/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/18/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/19/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/23/2015 250 1 250.00 Review email correspondence. Michael Schwartzentruber 6/24/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/25/2015 250 2.3 575.00 Prepare weekly time analysis to date for R. Adlington. Review
Email correspondence. Michael Schwartzentruber 6/26/2015 250 0.8 200.00 Review email correspondence.
236
Michael Schwartzentruber 6/29/2015 250 0.3 75.00 Review email correspondence. Michael Schwartzentruber 6/30/2015 250 1.8 450.00 Review email correspondence. Review and Respond to various
company mail and queries from regulatory bodies.
Sub~total 11.5 2,875.00
Total 138.8 65,935.00
237
KPMG LLP Suite 4600 Bay Adelaide Centre 333 Bay Street
Payment Address: . KPMG LLP, T4348
Toronto, ON M5H 2S5 P.O. Box 4348, Station A Toronto, ON M5W 7A6
January 21, 2016
RMB Resources Inc. 3500 South Wadsworth Boulevard Suite 405 Lakewood, CO 80235, USA
Invoice Reference Client Contact Telephone Email
For professional services ·rendered as Receiver of Seafield Resources Ltd. for the period July 1, 2015 to December 31, 2015, pursuant to an order of the Ontario Superior Court of Justice.
Our Fee Less voluntary Discount Revised Total
$ 228,544.00 ($ 70, 708.80) $157,835.20
See attached Schedule A for summary of time and expense by individual
Payment is due upon receipt
Our Fee Disbursements
HST
Amount Due
GST/HST Number 12236 3153 RT0001 QST Registration 1023774310 TQ0001
: 8000944466 : 2000275484 : 1001563689 : Philip Reynolds : (416) 777-8415 : [email protected]
$ 157,835.20 CAD 13,340.06
$ 171,175.26 CAD
22,252.78
$ 193,428.04 CAD
)C ........................................................................................................................................................................................................................................................ ..
CAD Cheque Payments: KPMG LLP, T4348, P.O. Box 4348, Station A, Toronto, ON M5W 7A6 Please return remittance advice with cheque.
Invoice No: 8000944466 Reference: 2000275484 Client: 1001563689 Amount: $ 193,428.04
KPMG LLP is a Canadian limited liability partnership and member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG Canada provides setvices to KPMG LLP.
CAD
Page 1 of 1
238
Schedule A
RMB Seafield Resources Inc. irime Summary for the period July 1, 2015 to December 31, 2015
Name Position Rate Hours Fee ($)
Philip Reynolds Partner 750 20.0 15,000.00
Ryan Adlington Partner 750 114.1 85,575.00
Peter Hatges Partner 750 21.0 15,750.00
Camilo Gonzalez Partner 750 40.0 30,000.00
Matthew Pedley Director 660 16.0 10,560.00
Zakir Patel Senior Manager 660 46.5 30,690.00
Aaron Collier Senior Manager 660 1.9 1,254.00
Angelo Consoli Senior Manager 660 2.0 1,320.00
James Mcintosh Senior Consultant 250 85.0 21,250.00
Michael Schwartzentruber Senior Consultant 250 45.4 11,350.00
Lexi Ng Senior Consultant 250 17.1 4,275.00
Asya Rzhevsky Consultant 200 5.1 1,020.00
Jordan Wall Consultant 200 2.5 500.00
Total 416.60 228,544.00
Less: voluntary discount (70,708.80)
Revised Total 157,835.20
Expense Summary For the period July 1, 2015 to December 31, 2015
Type Nature Amount($)
Other Expenses
Dataroom
Total
Invoice Total
On site visit, airfare, travel accommodations for sale process.
Third Party Dataroom.
9,857.92
3,482.14
13,340.06
171,175.26
239
RMB Seafield Resources Inc. Schedule B
Time Narrative
For the period July 1, 201S to December 31,2015
Name
Philip Reynolds
Philip Reynolds Philip Reynolds
Philip Reynolds
Philip Reynolds Philip Reynolds
Philip Reynolds
Philip Reynolds
Philip Reynolds
Philip Reynolds
Philip Reynolds
Philip Reynolds Philip Reynolds
Philip Reynolds Philip Reynolds Philip Reynolds
PhiJ.ip Reynolds
Sub-total
Ryan Adlington
Ryan Adlington Ryan Adlington
Ryan Adlington
Ryan Adlingto.n
Ryan Adlington
Ryan Adlington
Date
2-Jul-15
8-Ju/-15 15-Ju/-15
2D-Jul-15
21-Ju/-15 23-Ju/-15
27-Jul-15
6-Aug-15
17-Aug-15
18-Aug-15
4-Sep-15
7-Sep-15 9-Sep-15
1D-Sep-1S 14-Sep-15 24-Sep-15
28-Sep-15
6-Jul-15
8-Jul-15 9-Ju/-15
14-Jul-15
15-Ju/-15
16-Jul-15
17-Jul-15
Hours Description
2.0 Discuss a bankruptcy proceeding over Seafield Resources Ltd. with McMillan and Philippi, Prietocarrizosa & Uria re: D. Prins labour arrangements made in August, 2014; Review status of transfer of 60% interest in Miraflores to Seafield Minera with Philippi, Prietocarrizosa & Uria (subsequent to bidder query re: same).
0.5 1.0
1.0
0.5 2.0
1.5
2.0
1.0
1.0
1.5
1.0 2.0
0.5 0.5 1.0
1.0
20.0
Review Metminco Non-Dislosure Agreement ("NDA'') markup. Review LOI's received; Review notice of D. Prins' intention to commence litigation proceedings against Seafield Minera under the labour laws of Colombia and various email correspondence related thereto. Call with McMillan re: status of sales process, potential D. Prins litigation and next steps. Review draft agency/engagement Jetter between SRK Consulting Inc. and KPMG. Review English version of claim filed by D. Prins; review credit bid queries received from RMB Resources Inc. ("RMB"); Discuss same with RMB and McMillan.
Review further credit bid queries received from RMB; Attend call with McMillan re: D. Prins' litigation and next steps for the Receiver. Attend status update call with RMB; discuss with R. Adlington re: go-forward sales process timing and logistics in Colombia; Review Philippi, Prietocarrizosa & Uria's summary of initial court hearing re: D. Prins litigation. Discuss with R. Adlington re: site tours in Colombia with representatives of Brazil Resources and general approach to same with SRK Consulting Inc., management et a/. Review of shareholder meeting minutes; Board of Directors resolutions ballots from the Board members and Certification of Capitalization to be signed by Seafield Minera's accountant. Review correspondenc~ and feedback received from Brazil Resources re: their upcoming bid; Discuss same internally and with RMB. Review of Brazil Resources offer and discuss internally. Prepare for and attend call with RMB re: bankruptcy process, Brazil Resources offer and other matters. Review draft security review of RMB's security prepared by McMillan. Review updated security opinion prepared by McMillan. Attend status update call with McMillan re: status of security issue and issues noted to date. Attend status update call with McMillan re: status of security issue and issues noted to date.
1.5 Working with KPMG Colombia regarding tax and other dataroom related questions; Related billing discussions.
0.5 Review of Metminco NDA and related comments. 1.0 Correspondance with Metminco regarding the NDA and review of certain Minera
emails. 1.5 Drafting and review of NDA for RMB's potential credit bid, including related
discussions. 05 Sales and Investor Solicitation Procedure ("SISP"} update discusions with KPMG
Corporate Finance ("KPMG CF"). 1.0 Discussions with counsel regarding the SISP process and options; General review of
preliminary offers. 0.5 SISP update discusions with KPMG CF.
Page 1 of7
240
Ryan Adlington 20-Jul-15
Ryan Adlington 22-Jul-15
Ryan Adlington 23-Jul-15 Ryan Adlington 24-Jul-15 Ryan Adlington 27-Jul-15
Ryan Adlington 28-Jul-15 Ryan Adlington 29-Jul-15 Ryan Adlington 30-Jul-15
Ryan Adlington 4-Aug-15
Ryan Adlington 5-Aug-15 Ryan Adlington 6-Aug-15
Ryan Adlington 7-Aug-15
Ryan Adlington 11-Aug-15
Ryan Adlington 12-Aug-15 Ryan Adlington 13-Aug-15 Ryan Adlington 14-Aug-15
Ryan Adlington 19-Aug-15 Ryan Adlington 20-Aug-15 Ryan Adlington 2-1-Aug-15 Ryan Adlington 22-Aug-15 Ryan Adlington 24-Aug-15
Ryan Adlington 31-Aug-15
Ryan Adlington 1-Sep-15 Ryan Adlington 2-Sep-15 Ryan Adlington 3-Sep-15
Ryan Adlington 4-Sep-15
Ryan Adlington 5-Sep-15 Ryan Adlington 7-Sep-15 Ryan Adlington 8-Sep-15
Ryan Adlington 9-Sep-15
Ryan Adlington 10-Sep-15 Ryan Adlington 11-Sep-15
Ryan Adlington 14-Sep-15 Ryan Adlington 17-Sep-15
Ryan Adlington 18-Sep-15 Ryan Adlington 21-Sep-15
Ryan Adlington 22-Sep-15
3.0 Review of offers; prep call with McMillan and KPMG CF; Call with RMB regarding Phase 2.
1.5 Call with Colombian counsel; Review of SRK Consulting Inc. engagement letter and NDA; Discussions regarding same with Canadian counsel.
0.5 McMillan and PPU conference call regarding latest Colombia events. o.s. Discussions with SRK Consulting Inc. regarding engagement letters edits. 2.0 Call with SRK Consulting Inc.; Internal discusssions to execute the SRK Consulting Inc.
engagement letter; Internal call to discuss Phase 2. 1.5 Call with McMillan regarding D. Prins legal moves; Call with KPMG Colombia. 0.5 Correspondence with McMillan and internally relating to the D. Prins lawsuit. 0.5 Preparation and attendance on a call with Colombian counsel regarding the D. Prins
lawsuit; Discussions with SRK Consulting Inc. and KPMG CF regarding the sales process.
0.5 Review and discussion regarding KPMG Austrailia fees for reaching out to Australian based prospective purchasers.
0.5 General SJSP Phase 2 discussion with KPMG CF. 1.5 Receipt and review of RMB's official credit bid notice; Internal discussions regarding
same and then sending the letter and corresponding with all applicable Qualified Bidders.
2.0 Numerous internal discussions about the adminstrative bankrtupcy of Seafield and information required to do so, including discussions regarding funding and/or guarantees.
1.5 Further bankruptcy related discussions; discussions with counsel regarding curernt Colombia events; Internal discussion with KPMG CF regarding Phase 2 bidders and the SISP.
0.5 Co-ordinating billing related answers and discussions with RMB Australia. 1.5 Co-ordinating travel schedules. 0.5 SISP update call with RMB- notifications that the Phase 2 bid deadline was going to
be extended. 7.5 Travel time to Colombia; review of sales related materials. 9.5 Attendance on sight visits with prospective buyers.
10.0 Attendance on sight visits with prospective buyers and travel. 6.5 Travel time to Colombia for meetings with prospective purchasers. 1.5 Preparation for attendance on a conference call with McMillan/PPU/RMB regarding
latest Colombia events and updated on the SISP process. 1.2 Review of interest calculation provided by RMB; RevieW of bankruptcy documents.
0.5 Correspondance with KPMG Colombia. 0.5 Update call with KPMG Colombia. 1.3 Call with prospective purchaser; Internal call with KPMG CF; Update call with RMB.
1.2 Internal discussions regarding bankruptcy; Conference call with prospective purchaser.
0.5 Review and internal discussion of the offer received. 0.5 Correspondance with RMB regarding bankrutpcy documents. 1.2 Review of offer received with McMillan; Discussions regarding the requirements
under the SISP and confidentality. 2.5 Call with McMillan; Call with Brazil Resources; Internal strategy call; Update call with
RMB. 1.2 Drafting report; Discussions surrounding the R&D and other sections. 2.1 Continued drafting report; Review of KPMG Trustee's report; Review of McMillan's
security review. 1.5 Attendance at the first meeting creditors. 3.1 Review and drafting of Receiver's final report; Email correspondence with McMillan
regarding Colombia events update. 2.5 Review and drafting ofthe Receivers final report. 2.5 Drafting of the Receivers final report including the SISP section; Correspondecne
with McMillan regarding Colombia security review; Correspondence with McMillan regarding notice of motion to be filed with the court.
1.1 Review of correspondence relating to the notice of motion
Page 2 of7
241
Ryan Adlington
Ryan Adlington Ryan Adlington Ryan Adlington
Ryan Adlington Ryan Adlington
Ryan Adlington Ryan Adlington Ryan Adlington Ryan Adlington Ryan Adlington Ryan Adlington Ryan Adlington Ryan Adlington
Ryan Adlington
Ryan Adlington
Ryan Adlington Ryan Adlington
Ryan Adlington Ryan Adlington
Ryan Adlington Ryan Adlington Ryan Adlington
Sub-total
Peter Hatges Peter Hatges Peter Hatges Peter Hatges Peter Hatges Peter Hatges Peter Hatges Peter Hatges Peter Hatges Peter Hatges Peter Hatges Peter Hatges Peter Hatges Sub-total
Camilo Gonzalez Camilo Gonzalez Camilo Gonzalez Camilo Gonzalez Camilo Gonzalez Camilo Gonzalez Camilo Gonzalez Camilo Gonzalez Camilo Gonzalez Camilo Gonzalez Camilo Gonzalez
23-Sep-15
24-Sep-15 25-Sep-15 28-Sep-15
29-Sep-15 7-0ct-15
8-0ct-15 14-0ct-15 20-0ct-15 27-0ct-15 2~Nov-15
3-Nov-15 4-Nov-15 5-Nov-15
17~Nov~15
27-Nov-15
30-Nov-15 1-Dec-15
2-Dec-15 10-Dec-15
15~Dec~15
17-Dec-15 21-Dec-15
15-Jul-15 20'Jul-15 27-Jul-15 28-Jul-15 29-Jul-15 30-Jul-15 31-Jul-15 3-Aug-15 5-Aug-15 6-Aug-15 4-5ep-15 5-Sep-15 11-Sep-15
7-Jul-15 8-Jul-15 10-Aug-15 17-Aug-15 18-Aug-15 19-Aug-15 20-Aug-15 21-Aug-15 18-Nov-15 23-Nov-15 15-0ec-15
2.2 Drafting of final receivers report; Review of notice of motion; Review of correspondence relating to security review.
1.5 Review of draft motion materials; Including discussions with McMillan. 1.0 Call with counsel regarding security review and other matters. 1.5 Review affinal-court materials; can with counsels regarding security review and
other matters. 1.1 Preparation of receiver's certificates and fees summary for potential credit bid. 1.5 Prepare for and attend call with Canadian and Colombian counsel regarding security
issues. 1.2 Call with R. Winters; Arranging for certain information to be provided. 1.2 Call with R. Winters. 0.5 Internal call regarding status of receivership 1.5 Prepare for and attend a call with RMB 0.5 Email correspondence with McMillan and Stikemans 0.5 Conference call with McMillan and Stikemans 0.5 Preparation and coordinatatoin of a Seafield list of unsecured creditors 1.0 Preparation and review of a Seafield secured debt c'alculation to be provided to
Stikemans 0.5 Internal communication with KPMG Colombia regarding certain tax considerations
1.5 Correspondence and conference call with counsel regarding the Receiver's final report
2.1 Drafting the Receiver's final report Discussions with counsel regarding Colombian capitalization and continued review
3.2 and drafting of Receiver's final report 1.5 Draft of Reciever's final report and conference call with McMillan
Review and discussions regarding Receiver's certificates and the PEA used for the 3.1 data room; drafting of Receiver's final report 0.5 Conference call with PPU regarding outstanding matters 0.5 Call with McMillan regarding certain tasks 'to completion 2.1 Conference call with McMillan and conference call with PPU regarding SPA
completion items 114.1
3.0 Meeting to discuss offers. 2.0 Call I Prep for RMB call. 2.0 Call with SRK Consulting Inc. I Preparation. 2.0 Call with KPMG Columbia I Preparation.
· 2.0 Buyer Contact I Preparation for Phase 11. 2.0 Buyer Contact I Preparation for Phase 11. 2.0 Buyer Contact I Preparation for Phase II. 1.0 Buyer Communication I Site Visit co~ordination. 1.0 Buyer Communication I Site Visit co-ordination. 1.0 Buyer Communication I Site Visit co-ordination. 1.0 Call with Buyer I Internal Call. 1~0 Call with Buyer I Internal Call. 1.0 Review of Process Summary of the court.
21.0
1.0 Review, email correspondence, and revisions on the sales process. 2.0 Review, email correspondence, and revisions on the sales process 2.0 Review, email correspondence, and revisions on the sales process 6.0 Review, email correspondence, and revisions on the sales process 4.0 Site visit prepa"ration. 4.0 Site visit- Quinchia.
12.0 Site visit- Quinchia. 4.0 Site visit- Quinchia. 1.0 Meeting with tax team. 1.0 Meeting with tax team. 3.0 Tax discussion and follow up.
Page 3 of7
242
Sub-total
Matthew Pedley Matthew Pedley Matthew Pedley Matthew Pedley Matthew Pedley Matthew Pedley Matthew Pedley Matthew Pedley Sub-total
Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Zakir Patel Sub-total
Aaron Collier
Aaron Collier
Sub-total
Angelo Consoli
Angelo Consoli Sub-total
James Mcintosh James Mcintosh James Mcintosh James Mcintosh
26-May-15 28-May-15 29-May-15 4-Jun-15 5-Jun-15 10-Jun-15 2-Jul-15 3-Jul-15
6-Jul-15 7-Jul-15 8-Jul-15 9-Jul-15
1D-Jul-15 13-Jul-15 14-Jut-15 15-Jul-15 16-Jul-15 17-Jul-15 20-Jul-15 21-Jul-15 22-Jul-15 27-Jul-15 28-Jul-15 29-Jul-15 3-Aug-15. 4-Aug-15 5-Aug-15 6-Aug-15
1D-Aug-15 11-Aug-15 12-Aug-15 20-Aug-15 21-Aug-15 24-Aug-15 25-Aug-15 4-Sep-15 5-Sep-15
1D-Sep-15 11-Sep-15
13-Aug-15
14-Aug-15
17-Sep-15
21-Sep-15
6-Jul-15 7-Jul-15 9-Jul-15
13-Jul-15
40.0
2.0 Review of documentation provided by Canada Office. 2.0 Calls made to potential buyers. 2.0 Calls made to potential buyers. 2.0 Calls made to potential buyers. 2.0 Calls made to potential buyers. 4.0 Calls' made to potential buyers. 1.0 Calls made to potential buyers. 1.0 Calls made to potential buyers.
16.0
1.5 Buyer communication I Process update. 1.5 Buyer communication I Process update. 1.0 Buyer communication. 0.5 Buyer communication. 1.0 Buyer communication. 1.0 Buyer communication. 1.0 Buyer communication. 2.5 Buyer communication I Process update. 1.0 Buyer communication I Process update. 3.0 Buyer communication I Process update. 2.0 Buyer communication I Process update I Call with RMB. 1.5 Buyer communication I Process update. 2.5 Buyer communication I Process update. 1.5 Buyer correspondence I Preparation for Phase II. 3.5 Buyer correspondence I Update and Review of Contact Jogs. 1.5 Buyer contact I Preparation for Phase II. 1.5 Buyer communication I Site Visit co-ordination. 1.5 Buyer communication I Site Visit co-ordination. 1.0 Buyer communication I Site Visit co-ordination. 0.5 Buyer communication I Site Visit co-ordination. 2.5 Site visit co-ordination. 2.5 Site visit co-ordination. 2.0 Site visit co-ordination. 1.5 Site visit co-ordination. 1.5 Dial-in to technical discussion. 1.0 Update meeting on site visit. 0.5 Review site visit findings. 1.0 Calls with Buyers /Internal Call to discuss final offer. 1.0 Calls with Buyers /Internal Call to discuss final offer. 0.5 Preparation of Process Summary for court. 1.5 Preparation of Process Summary for court.
46.5
1.6 Discussions with A. Consoli and preparation for Seafield. Bankruptcy.
0.3 Discussions with A. Consoli and preparation for Seafield. Bankruptcy.
1.9
0.5 Correspondence with R. Adlington re: info requirement for court report; Commence draft court report insertion.
1.5 Prepare insert re: assignment in bankruptcy for Receiver's court report. 2.0
1.0 Uasing with buyers. 1.0 Uasing with buyers. 2.5 Create Corporate Finance process update for RM B. 1.0 Internal meeting to discuss process.
Page 4 of7
243
James Mcintosh 14-Jul-15 James Mcintosh 15-Jul-15 James Mcintosh 17-Jul-15 James Mcintosh 2D-Jul-15 James Mcintosh 21-Jul-15 James Mcintosh 22-Jul-15 James Mcintosh 27-Jul-15 James Mcintosh 28-Jul-15 James Mcintosh 29-Jul-15 James Mcintosh 10-Aug-15 James Mcintosh 11-Aug-15 James Mcintosh 12-Aug-15 James Mcintosh 13-Aug-15 James Mcintosh 17-Aug-15 James Mcintosh 18-Aug-15 James Mcintosh 19-Aug-15 James Mcintosh 20-Aug-15 James Mcintosh 21-Aug-15 James Mcintosh 24-Aug-15 James Mcintosh 26-Aug-15 James Mcintosh 27-Aug-15 James Mcintosh 4-5ep-15 James Mcintosh 5-5ep-15 James Mcintosh 1D-Sep-15 James Mcintosh 11-Sep-15 Sub-total
Mike Schwartzentruber 1-Jul-15 Mike Schwartzentruber 2-Jul-15 Mike Schwartzentruber 6-Jul-15
Mike Schwartzentruber 7-Jul-15
Mike Schwartzentruber 8-Jul-15 Mike Schwartzentruber 9-Jul-15
Mike Schwartzentruber 1D-Jul-15
Mike Schwartzentruber 13-Jul-15 Mike Schwartzentruber 14-Jul-15 Mike Schwartzentruber 15-Jul-15 Mike Schwartzentruber 16-Jul-15 Mike Schwartzentruber 17-Jul-15 Mike Schwartzentruber 2D-Jul-15 Mike Schwartzentruber 21-Jul-15 Mike Schwartzentruber 22-Jul-15 Mike Schwartzentruber 23-Jul-15 Mike Schwartzentruber 24-Jul-15 Mike Schwartzentruber 29-Jul-15 Mike Schwartzentruber 3D-Jul-15 Mike Schw~rtzentruber 31-Jul-15 Mike Schwartzentruber 4-Aug-15 Mike Schwartzentruber 5-Aug-15 Mike Schwartzentruber 6-Aug-15 Mike Schwartzentruber 7-Aug-15 Mike Schwartzentruber 1D-Aug-15 Mike Schwartzentruber 13-Aug-15 Mike Schwartzentruber 14-Aug-15 Mike Schwartzentruber 17-Aug-15
1.0 Buyer communication. 2.5 Offer discussion and analysis with Corporate Finance team. 1.5 Internal meeting to discuss offer. 3.5 Phase 1 offer discussion with RMB and internal discussions. 1.0 Buyer Communication I Process update. 1.5 Buyer communication I Process update. 2.0 Phase II next steps discussic~>n. 2.0 Buyer communication I Process update. 1.0 Buyer communication I Process update. 3.5 Site visit co-ordination. 2.5 Site visit co-ordination. 2.5 Site visit co-ordination. 2.5 Site visit co-ordination. 3.0 Site visit co-ordination. 8.0 Site visit- Colombia. 2.0 Internal call for site visit strategy; Site visit- Colombia.
12.0 Site visit- Colombia. 13.0 Technical sessions.
2.0 Due diligence document and information processing. 1.0 Due diligence document and information processing. 2.0 Due diligence document and information processing. 1.0 Buyer communication. 1.0 Internal call to discuss strategy following buyer call. 4.5 Prepare memo that summarize's Corporate Finances process. 3.0 Finalize memo that summarize's Corporate Finances process.
85.0
0.3 Review of email correspondence; Finalize Draft bills. 0.3 Review of email correspondence. 2.0 Review email correspondence; Draft bill for month of June; Handle revisions on Draft
bills. 3.5 Correspondence with KPMG Colombia on updating time; Review bills and explain
tasks with J.Herlin; Updating bill detail for their time; Requesting lost em ails for Seafield employees.
2.0 Review of email correspondence; Finalize Draft bills. 3.5 Review email correspondence; Pull recovered email from back up for A.Soto of
Seafield Resources. 0.5 Finalize processing of bill; Resend email back up to Catalina; Cadena to recover
emails. 0.5 Review email correspondence. 0.3 Call with CON advisors. 0.3 Review email correspondence. 0.3 Review email correspondence. 0.3 Review email correspondence. 03 Review 7mail correspondence. 0.3 Review email correspondence. 0.3 Review email correspondence. 0.3 Review email correspondence. 0.3 Review email correspondence. 0.9 Review email correspondence. 0.5 Pull address and rate information for Z.Patel; Review email correspondence. 0.3 Review email correspondence. 0.6 Correspondence with Z.Wilson regarding HOA split. 0.3 Review email correspondence. 0.3 Review email correspondence. 0.3 Review email correspondence. 0.3 Review email correspondence. 0.6 Review email correspondence. 0.3 Review email correspondence. 0.3 Review email correspondence.
Page 5 of7
244
Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber
Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber
Mike Schwartzentruber Mike Schwartzentruber
Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber
Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber Mike Schwartzentruber
Mike Schwartzentruber
Mike Schwartzentruber
Mike Schwartzentruber
Mike Schwartzentruber
Sub-total
Lexi Ng Lexi Ng lexi-Ng lexi Ng lexi Ng lexi Ng Lexi Ng lexi Ng lexi Ng lexi Ng lexi Ng lexi Ng Sub-total
.\
Asya Rzhevsky Asya Rzhevsky Asya Rzhevsky
18-Aug-15 19-Aug-15 20-Aug-15 21-Aug-15 24-Aug-15 25-Aug-15 31-Aug-15 1-Sep-15 2-Sep-15 8-Sep-15 9-Sep-15
14-Sep-15
16-Sep-15 18-Sep-15 21-Sep-15 22-Sep-15
24-Sep-15 S-Oct-15
6-0ct-15 20-0ct-15 22-0ct-15 23-0ct-15 26-0ct-15 28-0ct-15
2-Nov-15 4-Nov-15 20-Nov-15 26-Nov-15
27-Nov-15
30-Nov-15
2-Dec-15
3-Dec-15
14-Sep-15 15-Sep-15 16-Sep-15 17-Sep-15 18-Sep-15 21-Sep-15 21-Sep-15 7-0ct-15 2-Dec-15 8-Dec-15 9-Dec-15 16-Dec-15
2-Jul-15 7-Jul-15 8-Jul-15
0.3 Review email correspondence. 0.3 Review email correspondence. 0.3 Review email correspondence. 0.3 Review email correspondence. 0.6 Review email correspondence. 0.3 Review email correspondence. 1.4 Review email correspondence. 0.3 Review email correspondence. 0.9 Review Email correspondence; Update to email correspondence monitoring. 0.6 Review email correspondence. 0.6 Review email correspondence. 1.8 Review email correspondence; Coordinating and discussions with L. Ng on Seafield
bill. 0.5 Correspondence and review of Seafield bill and preparation process. 0.5 Review draft bill prepared by l. Ng and process edits. 0.4 Review of draft Seafield Invoice from l.Ng. 0.9 Review email correspondence; Review revised Seafield invoice, provide comments
to l.Ng. 0.6 Review email correspondence. 1.5 Review email correspondence; Post updated documents to the external creditor web
page. 2.0 Review email correspondence. 1.5 Review email correspondence. 0.5 Respond to inquires from Shareholders. 0.7 Follow up on cancelling of Chicago office expenses. 2.3 Review email correspondence. 0.5 Co-ordinate password reset for Jvidal user at Seafiled resources; Inquire about
transfer requirements for move of hosting server from Canada to Medellin. 2.3 Review email correspondence. 0.5 Review email correspondence. 0.3 Follow up with Bell regarding inquiry surrounding filing. 0.5 Respond to CRA inquiry regarding GST/HST audit; Phone conversations with CRA re
same; Provide additional documents to CRA discuss with A.Rhzekvsky. 0.7 Complete and summarize HSBC background forms; Review first draft of external
creditor links web page. 0.5 Search for OSB regulatory documents; S.242 notice; Correspondence with
R.Adlington and l.Ng. 0.5 Review previous invoices drafted; Search for McMillan's previous invoices and
coordinate with l. Ng on updating draft invoices.
0.5 Review mail correspondence received at Mare Hi support services.
45.4
4.0 Prepare Second Receiver's Report. 2.2 Draft Seafield bill. 1.0 Finalize draft bill. 3.0 Prepare Second Receiver's Report. 1.0 Revisions to the Second Receiver's Report. 0.5 Update Second Receiver's Report based on R. Adlington's comments. 0.5 Update Seafield bill. 0.5 Update Seafield bill. 2.0 Draft up professional fees schedule; draft billings. 1.0 Billing update; Update professional fees table. 1.2 Billings update; HST refund preparation and coordination. 0.2 Update professional fees schedule. 17.1
0.5 Prepare cheque and email copy of previous payment to Bureau Vertical. 0.3 Prepare summary of KPMG Columbia invoices. 0.3 Prepare cheque to Bureau Veritas.
Page 6 of7
245
January 21, 2016
RMB Resources Inc. 3500 South Wadsworth Boulevard Suite 405 Lakewood, CO 80235, USA
KPMG Inc. Suite 4600 Bay Adelaide Centre 333 Bay Street Toronto. ON M5H 2S5
Payment Address: KPMG LLP, T4348 P.O. Box 4348, Station A Toronto, ON M5W 7A6
: 8000944464 : 2000275484 : 1001563689 : Philip Reynolds : (416) 777-8415
Invoice Reference Client Contact Telephone Email : [email protected]
For professional services rendered as Receiver of Seafield Resources Ltd. for the period July 1, 2015 to December 31, 2015, pursuant to an order of the Ontario Superior Court of Justice.
See attached Schedule A for summary of expenses (US).
Disbursements
Amount Due
Payment is due upon receipt GST/HST Number 12236 3153 RT0001 QST Registration 1023774310 TQ0001
$ 23,397.30 CAD
$ 23,397.30 CAD
$ 23,397.30 CAD
)C ·---------------------------------------------------------------------------------------------- ------------------------------
CAD Cheque Payments: KPMG LLP, T4348, P.O. Box 4348, Station A, Toronto, ON M5W 7A6 Please return remittance advice with cheque.
Invoice No: 8000944464 Reference: 2000275484 Client: 1001563689 Amount: $ 23,397.30
KPMG LLP is a Canadian limited liability partnership and member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG lntemalional"), a Swiss entity. KPMG Canada provides services to KPMG LLP.
CAD
Page 1 of 1
246
Asya Rzhevsky 13-Jul-15 Asya Rzhevsky 28-Jul-15 Asya Rzhevsky 30-Jul-15 Asya Rzhevsky 18-Aug-15
Asya Rzhevsky 19-Aug-15 Asya Rzhevsky 24-Aug-15 Asya Rzhevsky 30-5ep-15 Asya Rzhevsky 1-0ct-15 Asya Rzhevsky 20-0ct-15 Asya Rzhevsky 21-0ct-15 Sub-total
Jordan Wall 1D-Jun-15 Sub-total
Total
0.2 Prepare bank reconciliation. 0.3 Prepare cheque to Big Mining lP. 0.1 Update creditors list for a new creditor. 0.8 Prepare letter and fax to CRA to request an HST account, tel. CIBC and post funds
received from RMB Australia to Spe.cial Trust account. 0.2 Prepare bank reconciliation. 0.3 Print and sign bankruptcy filing documents. 1.1 File HST returns from Sep 2014 to Sep 2015. 0.3 Prepare cheque to Smartwebpros.com. 0.2 PDF HST returns and Notices of Assessments and email toR. Adlington. 0.5 Fax requested details to CRA- HST audit. 5.1
2.5 Calls made to potential buyers. 2.5
416.6
Page 7 of7
247
Schedule A
_BM!Utaaf.teldResources-lnc.-[ime Summary for the period July 1, 2015 to December 31, 2015
,- ~-
Name Position Rate Hours Fee ($)
Expense Summary For the period July 1, 2015 to December 31, 2015
Type Nature Amount ($)
Consulting Technical Fees
Total
Invoice Total
Site visit re: Phase II of the sales process. 23,397.30
23,397.30
23,397.30
248
EXHIBITC
THIS IS EXHIBIT 'f (!J.: II REFERReD TO IN THE AFFIDAVIT OF p;;_, l?,iq ,£.e-tJA.p(.o/J'
249
RMB Seafield Resources Inc. KPMG Time Summary for the period September 9, 2014 to February 1, 2016
Name Position Rate Hours Fee in CAD'($)
Philip Reynolds Partner 750 281.3 210,975.00
Ryan Adlington Partner 750 236.6 177,450.00
Peter 1-!atges Partner 750 29.0 21,750.00
Camilo Gonzalez Partner 750 139.0 104,250.00
Camilo Gonzalez Partner 650 12.0 7,800.00
Matthew Pedley Director 660 16.0 10,560.00
Zakir Patel Senior Manager 660 126.8 83,655.00
Aaron Collier Senior Manager 660 109.0 71,940.00
Angelo Consoli Senior Manager 660 2.0 1,320.00
Zahir Palon Manager 500 22.0 11,000.00
Michael Basso Manager 300 55.7 16,710.00
James Mcintosh Senior Consultant 250 240.5 60,125.00
Michael Schwartzentruber Senior Consultant 250 117.7 29,425.00
Lexi Ng Senior Consultant 250 17.1 4,275.00
Jenny Brearton Consultant 250 60.5 15,125.00
Asya Rzhevsky Consultant 290 3.2 928.00
Asya Rzhevsky Consultant 200 21.2 4,240.00
Jordan Wall Consultant 200 2.5 500.00
Total 1,492.10 832,028.00
Less: voluntary discpunt (70,708.80)
Add: January 2016 Estimate 50,000.00
Revised Total $ 811,319.20
Page 1 of2
250
Expense Summary For the period September 9, 2014 to February 1, 2016
Type Nature Amount in CAD' ($)
Other Expenses On site visit, airfare, travel
20,167.92 accommodations for sale process.
Data room Third Party Dataroom. 9,727.39
Consulting Technical Fees 23,397.30
Total 53,292.61
Invoice Total $ 864,611.81
Note 1 Fees and disbursements amounts listed do not include HST.
Page 2 of2
251
TAB4
Court File No. CV -14-1 0686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE - COMMERCIAL LIST
IN THE MATTER OF THE RECEIVERSHIP OF SEAFIELD RESOURCES LTD.
AFFIDAVIT OF W AEL M. ROSTOM (sworn FEBRUARY 17, 2016)
I, W AEL ROSTOM, of the Town of Oakville, in the Province of Ontario,
MAKE OATH AND SAY:
1. I am a partner of the law firm of McMillan LLP ("McMillan"), counsel to
KPMG Inc., in its capacity as the Court-appointed receiver (the "Receiver") of all of the
assets, undertakings and property of Seafield Resources Ltd. ("Seafield") and, as such, I
have knowledge of the matters hereinafter deposed to. Unless I indicate to the contrary,
the facts herein are within my personal knowledge and are true. Where I have indicated
that I have obtained facts from other sources, I believe those facts to be true.
2. On September 9, 2014, the Receiver was appointed as receiver of all of the
assets, undertakings and properties of Seafield (the "Property").
3. This Affidavit is swom in support of a motion to be made in these proceedings
seeking, among other things, approval of the fees and disbursements of McMillan in its
capacity as legal counsel to the Receiver, for the period of September 9, 2014 to January
31, 2016 (the "Period"). The background information relating to the motion for approval
of the fees and disbursements of McMillan is sun1marized in the Receiver's Second
Report to the Court (the "Second Report").
4. In these proceedings, during the Period, McMillan has advised the Receiver and
been otherwise engaged with respect to a variety of matters including:
(a) advising on Seafield's contract termination and engagement issues;
252
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(b) drafting opm10n Jetter regarding powers of the Receiver as sole
shareholder representative ofMinera Seafield S.A.S. ("Minera");
(c) working with the Receiver's Colombian counsel to advise the Receiver
on the steps taken by Minera's management in Colombia, including in
connection with Minera's application for protection under Colombian
insolvency Jaws with Colombian counsel;
(d) working closely with the Receiver's Colombian counsel in relation to
legal issues arising in Colombia affecting the receivership of Seafield,
including the proceedings before Colombian authorities set out in Exhibit
C to the First Report of the Receiver to the Court and Exhibit E to the
Second Report of the Receiver to the Court;
(e) travelling to Bogota, Colombia and Medellin, Colombia to attend
meetings at Colombian counsel's office, the Superintendencia Financiera
de Colombia's office and Minera's office;
(f) advising on and revising the Receiver's First Report dated May 11, 2015,
the Supplement to the First Report and the Receiver's Second Report to
the Court;
(g) advising on, drafting, and supervising the proposed sale and investment
solicitation procedure (the "SISP");
(h) preparing various motion materials to obtain relief sought by the
Receiver;
(i) assessing objections raised to the relief sought by the Receiver in
connection with the SISP and the Receiver's request for authorization to
assign Seafield into bankruptcy;
(j) advising on a credit bid (the "Credit Bid") submitted by RMB Australia
Holdings Ltd. and RMB Resources Inc. ("RMB");
253
- 3 -
(k) advising on the asset and purchase sale agreement (the "APA") between
the Receiver and RMB;
(I) advising on certain discrete legal issues that arose from time to time
during the Period, including tax issues and potential directors' liability
considerations; and
(m) advising on, preparing materials and attending various motions on behalf
of the Receiver, including:
(i) a Receivership application, returnable on September 9, 2014, to
approve the appointment of the Receiver as receiver of all of the
Property;
(ii) a motion brought by the Receiver, returnable on May 19, 2015, to:
approve the SISP; to grant the Receiver the authority to assign
Seafield into bankruptcy; to increase the amount of the Receiver's
Borrowings Charge; and to approve the Receiver's First Report
dated May 11, 2015; and
(iii) the present motion brought by the Receiver.
5. During the Period, McMillan incurred professional fees in the amount of
$400,773 inclusive of HST. This amount includes an estimate for the fees that were
expected to be incurred in the month of January, 2016, but it is anticipated that
additional fees will be incurred above the estimates to close the sales of Minera to RMB
if such transaction is approved by the Court.
6. McMillan also incurred out of pocket disbursements in the amount of $7,506.94,
for a total of $438,279.94.
7. In the course of performing its duties, McMillan personnel have expended 678.60
hours during the Period. Attached hereto and marked as Exhibit "A" to this affidavit is a
summary of the personnel, hours, and hourly rates charged by McMillan during the
Period in respect of these proceedings. The average hourly rate of all of the Receiver's
254
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personnel billed in connection with the services perf01med during the Period IS
approximately $590.59.
8. Copies of the accounts rendered by McMillan in respect of work performed on
this matter from September 9, 2014 to January 31, 2016 are attached as Exhibit "B".
Exhibit "B" has been redacted to omit any confidential and privileged information. To
the best of my knowledge, the accounts at Exhibit "B" are accurate and correct.
9. The fees were charged at the firm's standard applicable local office billing rates
in effect from time to time. Disbursements were charged in amounts which were less
than or equal to standard charges in accordance with the firm's disbursement policy for
clients. I verily believe that the time expended and the legal fees charged are reasonable
in light of the service and prevailing market rates for legal services of this nature.
SWORN BEFORE ME at the City of Toronto, in the Province of Ontario, on February 17,2016. -1===~~-==:::::
ommissioner for taking affidavits ~~ "Brow .. - Olt.r...,_l•"-
f'.l..t- fv..,•l\ c.."" I.. I. 'P
255
This is Exhibit "A"
to the Affidavit of Wael Rostom,
sworn before me, this 17'11 day
of February, 2015.
A Commissioner, etc.
256
1
RMB Seafield Resources Inc. McMillan Time Summary for the period September 9, 2014 to February 1, 2016
Name Rate Hours Fee ($) in CAD'
Andrew J.F. Kent 950 1.60 1,520.00
Robert M. Scavone 835 13.40 11,189.00
Robert M. Scavone 800 2.20 1,760.00
Wael M. Rostom 800 91.60 73,280.00
Paul Davis 765 0.50 382.50
Wael M. Rostom 765 178.30 136,399.50
Brett Harrison 700 18.60 13,020.00
Adam C. Maerov 675 3.90 2,632.50
George Waggott 675 0.30 202.50
James Munro 600 20.90 12,540.00
Dave J.G. McKechnie 575 1.20 690.00
Jennifer Cockbill 575 32.00 18,400.00
J. levine 550 0.20 110.00
Jennifer Cockbill 550 95.50 52,525.00
Andrew Stirling 525 4.40 2,310.00
Daniel Should ice 435 8.70 3,784.50
Stephen Eddy 435 0.60 261.00
Kaitlyn Meyer 400 3.10 1,240.00
Stephen Eddy 400 1.20 480.00
Stephen Brown-Okruhlik 380 116.40 44,232.00
Stephen Brown-Okruhlik 360 34.00 12,240.00
A.ly 300 1.10 330.00
Janine Biener 275 0.10 27.50
S.M. Whyte 275 0.90 247.50
Mudasir Marfatia 250 3.80 950.00
N. Chaves 250 0.50 125.00
R. Mirdawi 250 0.20 50.00
Page 1 of 2
257
2
S.J. Tyrrell 250 0.50 125.00
Samantha Gordon 250 3.70 925.00
B. Mcintyre 225 0.80 180.00
Jonathan Rajzman 225 2.70 607.50
Kristen Pennington 225 26.80 6,030.00
Mudasir Marfatia 225 0.80 180.00
Tayleigh Armstrong 225 6.80 1,530.00
R. Mirdawi 220 0.50 110.00
M. Singleton 200 0.50 100.00
M. Singleton 190 0.30 57.00
Total 678.60 400,773.00
Add: January 2016 Estimate 30,000.00
Revised Total 430,773.00
Expense Summary For the period September 9, 2014 to February 1, 2016
Type Amount ($) in r.o.n1
Misc. Expenses 7,506.94
Total 7,506.94
Invoice Total 438,279.94
Page 2 of 2
258
This is Exhibit "B"
to the Affidavit of Wael Rostom,
sworn before me, this 17'h day
of February, 2015.
A Commissioner, etc.
259
mcmillan
Privileged and Confidential
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
For professional services rendered to September 30, 2014.
Our Fee $ Disbursements- Non Taxable $ Disbursements Subject to HST $ HST
Total CAD $
231085 1093467
0913012014 R119428555 1210248273
103,048.50 2,186.78 3,659.45
13,872.03
122,766.76
McMillan LLP I Brookfield Place, 181 Bay Street Suite 4400. Toronto. Ontario, Canada MSJ 2T3 ! t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats J Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmllfan.ca
260
Pagel Our File Number: Invoice Number:
Invoice Date:
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660.
Payment is due on receipt ofthis account. We reserve the right to charge interest as permitted by the applicable Provincial Statute.
Payment can be made by cheque, wire transfer or ED!. Wire transfer and ED! instructions:
Royal Bank of Canada Main Branch Toronto Royal Bank Plaza 200 Bay Street Toronto, Ontario M5J 2J7
NOTE: Please include our Invoice Number in the "Payments Detail" section of the wire transfer. Thank you.
This is our Account
McMillan LLP
W.M.Rostom
231085 1093467
09/30/2014
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
261
Page3 Our File Number: 231085 Invoice Number: 1093467
Invoice Date: 0913012014
Summary of Fees and Hours
Name Hourly Rate Hours Amount
Wael M. Rostom 765.00 107.70 82,390.50 Jenoifer Cockbill 575.00 25.10 14,432.50 Robert M. Scavone 800.00 2.20 1,760.00 Tayleigh Armstrong 225.00 6.80 1,530.00 Paul Davis 765.00 0.80 612.00 Kaitlyn Meyer 400.00 1.30 520.00 Stephen Eddy 400.00 1.20 480.00 Gemma Whitehead 500.00 0.80 400.00 Brett Harrison 700.00 0.50 350.00 George Waggott 675.00 0.30 202.50 Mudasir Marfatia 225.00 0.80 180.00 S.J. Tyrrell 250.00 0.50 125.00 R. Mirdawi 220.00 0.30 66.00
Total 148.30 ~103,048.50
Summary of Disbursements
Descri~tion of Services Amount
Cheque- Non-taxable 2,164.78 Cheque - Taxable 3,361.37 Courier- Taxable 150.58 Photocopy - Taxable 127.50 Searches (non taxable) 22.00 Searches (taxable) 20.00
Total $5,846.23
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400, Toronto. Ontario, Canada MSJ 2T3 J t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmil!an.ca
262
Page4 Our File Number: 231085 Invoice Number: 1093467
Invoice Date: 0913012014
Account Details - Fees
Date Description of Services Hours Amount
08/26/14 Rostom, Wae1 M. - Em ails and updates from P. 0.20 153.00 Reynolds concerning status of file.
08/29114 Rostom, Wael M.- Email from P. Reynolds to 0.10 76.50 preliminary issues list.
09/04114 Cockbill, Jennifer- Telephone call with W. Rostom; 1.50 862.50 exchange emails with W. Rostom; review draft affidavit in support of Receivership application and send comments to W. Rostom.
09/04/14 Rostom, Wael M.- Call with Phil Reynolds concerning 6.50 4,972.50 possible receivership application; review draft affidavit discuss preliminary questions and due diligence inquires with Phil Reynolds; call with Maria Konyukhova and Phil Reynolds regarding preliminary due diligence questions and draft affidavit and next steps in preparing for possible receivership application; instructions to Jennifer Cockbill regarding due diligence review.
09/05/14 Cockbill, Jennifer - Review emails from W. Rostom; 3.20 1,840.00 review and comment on draft receivership order; call with W. Rostom to discuss order; conference call with W. Rostom and P. Reynolds to discuss affidavit; conference call with Stikeman's to discuss affidavit; exchange emails with R. Rostom re draft receivership order and send same toP. Reynolds for review and comment.
09/05114 0.30 229.50
09/05114 Rostom, Wael M.- Emails with P. Davis regarding 0.20 153.00
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 1 f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreat I Hong Kong I mcmiltan.ca
263
Page5 Our File Number: 231085 Invoice Number: 1093467
Invoice Date: 0913012014
Account Details - Fees
Date Description of Services Hours Amount
09/05114 Rostom, Wael M. -Multiple emails and calls regarding 7.20 5,508.00 receivership materials, form of affidavit and providing conunents and suggestions regarding same; calls with Receiver and counsel for RMB concerning filing by Minera for application under Colombian insolvency laws and next steps; calls with Stikemans to discuss affidavit and comments/suggestions in light of application for protection by Minera Seafield in Colombia; review and comment on form of order; continue to work on due diligence on basic Colombia insolvency schemes; further calls and emails with Stikemans, KPMG and RMB.
09/05114 Whitehead, Genuna - Draft receivership order. 0.80 400.00 09/06114 Rostom, Wael M. -Communications with J. Cockbill 0.40 306.00
regarding form of Receivership Order; emails to Stikemans regarding same.
09/06/14 Rostom, Wael M.- Monitor various emails between 1.90 1,453.50 Stikemans, RMB and C. Martinez concerning form of affidavit and comments from C. Martinez; review motion record served by Stikemans.
09/07114 Rostom, Wae1 M.- Emails and instructions to J. Cockbill 1.50 1,147.50 to prepare fee and disbursement guarantee from RMB in favour of Receiver; multiple calls and emails with P. Reynolds -and to discuss preparations for Receivership hearing.
09/08114 Cockbill, Jennifer- Review emails from Y. Katirai; 0.50 287.50 Exchange emails with W. Rostom; email to Katirai; review various email exchanges.
09/08114 Harrison, Brett- Emails and calls from/to W. Rostom Re 0.50 350.00 Receivership appointment motion; receipt and review of motion materials; emails to/from W. Rostom Re same.
09/08/14 Rostom, Wael M. -Dealing with execution ofKPMG's 0.30 229.50 consent to act as Receiver.
09/08/14 Rostom, Wael M.- Emails and calls with J. Cockbill to 0.50 382.50 finalize from of Receivership Order with Stikemans.
McMillan LLP t Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada M5J 2T3 l t 416.865.7000 t f 416.865.7048 Lawyers J Patent & Trade-mark Agents J Avocats t Agents de brevets et de marques de commerce Vancouver t Calgary I Toronto I Ottawa t Montreal t Hong Kong I mcmillan.ca
264
Page6 Our File Number: 231085 Invoice Number: 1093467
Invoice Date: 0913012014
Account Details - Fees
Date Description of Services Honrs Amount
09/08/14 Rostom, Wael M. - Monitoring emails between RMB 0.50 382.50 and C. Belevan concerning filing made by administrators of Minera Seafield for protection under Colombian insolvency laws and next steps.
09/08/14 Rostom, Wael M. - Preparing for and attending on calls 1.50 1,147.50 witb Receiver and proposed counsel for Receiver in Colombia; debrief with KPMG.
09/08/14 Rostom, Wael M.- Revising and finalizing fee and 0.60 459.00 disbursements guarantee from RBM.
09/09/14 Cockbill, Jennifer- Exchange emails with W. Rostom; 2.00 1,150.00 exchange emails with G. Whitehead; telephone call with W. Rostom; draft letter to Minera in-house counsel requesting access to Minute Books.
09/09/14 Rostom, Wael M.- Call witb J. Cockbill to provide 0.40 306.00 update regarding court, discussions with C. Martinez and instructions regarding preparing employee termination letters.
09/09/14 Rostom, Wael M.- Call witb Receiver and C. Martinez 0.40 306.00 and M. Konyukhova of Stikemans regarding next steps in Colombia.
09/09/14 Rostom, Wael M.- Calls and emails with A. Torres and 3.00 2,295.00 C. Martinez concerning language of shareholder resolution; providing mark-up of shareholder resolution, discuss with P. Reynolds, calls and emails with A. Torres regarding mark-up.
09/09/14 Rostom, Wael M.- Dealing with execution of fee and 3.40 2,601.00 disbursements guarantee between Receiver and RMB; preparing for attendance at Court for Receivership application; attending at court.
09/09/14 Rostom, Wael M.- Emails with C. Martinez and 0.90 688.50 Stikemans regarding obtaining court certified copies of tbe Appointment Order for us in Colombia; Holding shareholder meeting to confirm director appointments made by RMB pursuant to share pledge.
09/09/14 Rostom, Wael M.- Further call with C. Martinez and A. 0.60 459.00 Torres regarding revised draft of shareholder resolution.
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 1 f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver l Calgary l Toronto I Ottawa I Montreal ! Hong Kong ! mcmillan.ca
265
Page 7 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date
09/09114
09110/14
09110/14
09/10/14
09/10/14
09/10/14
09/10/14
09/10/14
09/11/14
09/11/14
09/11/14
09111/14
09/11/14
Description of Services
Rostom, Wael M. -Review draft letter to C. Cadero and inputing comments from Receiver and RMB. Cockbill, Jennifer - Review emails from W. Rostom and P. Reynolds and instructions to K. Meyer reemployment termination and engagement letters. Meyer, Kaitlyn - Review instructions from tbe client and draft termination letters for P. Reynolds and S. Ashton as well a letter of retention for S. Ashton and send copies to J. Cockbill for her review. Rostom, Wael M.- Emails with P. Reynolds concerning further action that Receiver may take with C. Cadero and emails from C. Martinez with further suggestions. Rostom, Wael M. - Emails with P. Reynolds following up on correspondence to C. Cadero and any response. Rostom, Wael M.- Monitoring emails between P. Reynolds and J. Cockbill concerning termination and retention of certain employees and/or consultants. Rostom, Wael M.- Review shareholder resolution for signature by Receiver and final version of letter to C. Carado. Rostom, Wael M. -Working with Receiver to finalize form of letter to C. Cadero; input and comments from C. Martinez. Cockbill, Jennifer- Telephone call with W. Rostom; review and revise draft employee termination and re-hire letters; email toW. Rostom; review emails from W. Rostom. Davis, Paul D. - Review TSXV letter and email correspondence with W. Rostom. Rostom, Wael M. -Monitoring emails from A. Torres,
Rostom, Wael M.- Review consulting agreement for S. Ashton; instructions to J. Cockbill. Rostom, Wael M. -Review draft employee/consultant retention and termination letters prepared by J. Cockbill.
Hours
0.50
0.50
!.30
0.20
0.40
0.50
0.80
0.30
!.30
0.20
0.50
0.20
0.50
231085 1093467
09130/2014
Amount
382.50
287.50
520.00
153.00
306.00
382.50
612.00
229.50
747.50
153.00
382.50
153.00
382.50
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400, Toronto, Ontario, Canada M5J 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal J Hong Kong I mcmillan.ca
266
PageS Our File Number: Invoice Number:
Invoice Date:
Account Details- Fees
Date
09/11/14
09111114 09/11/14
09/11/14
09/12/14
09/12/14
09112114
09/12/14
09/12/14
09/12114
09/12/14
Description of Services
Rostom, Wael M. - Review email from A. Velasquez, counsel for administrators ofMinera Seafield. Rostom, Wael M.- Review email from C. Cadaro. Rostom, Wael M.- Review email from Counsel to RMB reacting to email from A. Velazquez and setting out
with RMB's counsel and independent counsel to Receiver to discuss next steps. Rostom, Wael M.- Review letter from TSXV and email toP. Davis. Cockbill, Jennifer- Review emails from W. Rostom; conference call client and Columbian Counsel to Receiver; review various emails; conference call with client, Columbian Counsel to receiver, and Columbia Counsel to RMB; telephone call with W. Rostom reform of opinion letter; review further emails regarding action plan; circulate coritact list; work on opinion letter; review and reply to emails from R. Rostom and R. Scavone. Rostom, Wael M.- Call with P. Reynolds to discuss action plan; call with Receiver and Receiver's independent Colombian counsel regarding action plan. Rostom, Wael M.- Calls with A. Torres, C. Martinez and Receiver's independent Colombian counsel regarding action plan relative to Minera Seafield SAS and legal strategy to follow in Colombia. Rostom, Wael M.- Email to C. Martinez and RMB regarding call and setting out and confirming agreed course of action. Rostom, Wael M.- Emails with C. Martinez regarding further shareholder resolutions and emails with J. Di Terlizzi. Scavone, Robert M.- Email from Wael Rostom re whether OBCA has counterpart to s. 96 of CBCA; consider and respond. Scavone, Robert M. - Receive and review research of J Cockbill
0.20
0.10 2.50
0.20
5.20
1.40
2.50
0.80
0.30
0.30
0.10
231085 1093467
0913012014
Amount
153.00
76.50 1,912.50
153.00
2,990.00
1,071.00
1,912.50
612.00
229.50
240.00
80.00
McMillan LLP J Brookfield Place. 181 Bay Street. Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patem & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
267
Page9 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date
09/12/14
09113/14
09113114
09/13/14
09/14/14
09/14/14
09/14/14
09114/14
09/14/14
Descriotion of Services
Tyrrell, S.J.- Emails to and from W. Rostom re: corporate and bankruptcy searches; conduct and review same.
Cockbill and W. Rostom; draft memo re same; email correspondence with J. Cockbill re same; make changes to letter for J. Cockbill. Cockbill, Jennifer- Review emails from W. Rostom; email draft termination letters to W. Rostom for comment and review his comments on same; instructions to T. Armstrong regarding research; further work on opinion letter; review research and emails from T. Armstrong; further work of opinion letter. Rostom, Wael M.- Working
emails with J. Cockbill and R. Scavone. Cockbill, Jennifer- Further work on-and email toW. Rostom; review various emails from W. Rostom and R. Scavone; review comments on form of letter from Columbia counsel; email to G. Waggott regarding form of termination andre-engagement letter; revise form ofletter termination letter and send toP. Reynolds; further revise- and circulate to group.
Rostom, Wael M. -Reviewing comments from J. Di Terlizzi and C. Martinez Scavone, Robert M. - Receive and review draft letter re KPMG receiver powers and comment on same to W Rostom. Scavone, Robert M. - Receive and review draft letter to KPMG and comment on same to Wael Rostom.
0.30
• 3.00
3.60
2.50
2.60
0.60
0.80
0.70
231085 1093467
09/3012014
Amount
75.00
-1,725.00
2,754.00
1,437.50
1,989.00
459.00
640.00
560.00
McMillan LLP J Brookfield Place, 181 Bay Street. Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade·mark Agents I Avocats I Agents de brevets er de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
268
Page 10 Our File Number: Invoice Number:
Invoice Date:
Account Details- Fees
Date Descri)2tion of Services Hours
09/14/14 Scavone, Robert M. - Receive and review proposed 0.30 changes to draft Receiver letter from Receiver's local counsel and comment on same to W Rostom.
09/14/14 Waggott, George- Advice to J. Cockbill re termination 0.30 of consulting agreement and related offer of term and task engagement by Receiver.
09/15114 Cockbill, Jennifer- Conference call with Receiver, 2.50 Receiver's Columbian counsel, RMB and RMB's counsel; revise form and exchange emails with W. Rostom re same; -and exchange emails with P. Reynolds regarding same; review TSX correspondence.
09115/14 Marfatia, Mudasir - Attend Columbian Consulate in 0.80 Toronto to have Canadian documents legalized for Columbian Courts.
09/15/14 Rostom, Wael M. -Call with P. Reynolds to discuss 0.50 status of documentation to be sent to Superintendencia.
09/15/14 Rostom, Wael M.- Email from J. Di Terlizzi regarding 0.20
09/15/14 Rostom, Wael M.- Emails from RMB and J. Di Terlizzi. 0.20 09115114 Rostom, Wael M.- Emails with Receiver and P. Davis 0.40
regarding correspondence from TSX. 09115/14 Rostom, Wael M. -Instructions to J. Cockbill regarding 0.10
09115114 Rostom, Wael M. - Making arrangements with student 0.40 for legalization of certain documentation at the Colombian consulate.
09/15/14 Rostom, Wael M. -Review communications to be sent 0.30 to the Superintendcia and prepared by A. Torres.
09/15/14 Rostom, Wael M. - Review final edits to 0.50 opinion and delivering same.
09/15/14 Rostom, Wael M.- Review further revisions requested 0.30 to McMillan LLP opinion from local Colombian counsel; exchange of emails with J. Cockbill regarding same.
09115114 Rostom, Wael M. -Review letter from J. Di Terlizzi to 0.40 A. Velasquez and response from A. Torres, Receiver andRMB.
23/085 /093467
0913012014
Amount
240.00
202.50
1,437.50
180.00
382.50
153.00
153.00 306.00
76.50
306.00
229.50
382.50
229.50
306.00
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada M5J 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmi!lan.ca
269
Page 11 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Description of Services Hours
09116114 Cock bill, Jennifer - Conference call with P. Reynolds and l.OO P. Davis regarding TSX letter; revise form of termination letter for S. Ashton and exchange emails with W. Rostom and P. Reynolds regarding the same; review various emails from Columbian Counsel.
09116/14 Davis, Paul D. - Prepare for and attend call with KPMG 0.20 regarding TSXV letter.
09/16/14 Rostom, Wael M.- Call with P. Reynolds. 0.50 09/16/14 Rostom, Wael M.- Email from J. Di Terlizzi and 0.10
response from A. Torres. 09/16/14 • 09/16/14 Rostom, Wael M.- Emails with Receiver and J. Cockbill 0.20
regarding need to terminate S. Ashton's consulting contract.
09/16/14 Rostom, Wael M.- Further emails from J. Di Terlizzi, A. 0.20 Torres and A. Belevan.
09116/14 Rostom, Wael M.- Review of termination notices to S. 0.20 Ashton; emails with J. Cockbill and Receiver.
09/17114 Cockbill, Jennifer- Review emails from W. Rostom; 0.80 obtain and review corporate search; exchange emails with W. Rostom re same; email to S. Tyrrell regarding process for filing notice of change in regisey.
09/17114 Rostom, Wael M. -Email from C. Martinez regarding 0.10
09117/14 Rostom, Wael M.- Preparing documentation and 2.70 Shareholders' resolution concerning application for control of Minera under Colombian law; reviewing application and law.
09117114 !.30 call
with P. Reynolds to discuss; attend on call with RMB, C. Martinez and the Receiver's local counsel.
09/17/14 Tyrrell, S.J. - Email from J. Cockbill and to R. Mirdawi 0.10 re: changes to corporate profile.
231085 1093467
0913012014
Amount
575.00
153.00
382.50 76.50
-153.00
153.00
153.00
460.00
76.50
2,065.50
994.50
25.00
McMillan LLP I Brookfield Place, 181 Bay Street Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I r 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
270
Page I2 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
09118/14
09119114
09/21/14
09/22/14
09/22/14
09/22114
09/22114
09/22114
09/22114
09/22114
Description of Services
Rostom, Wael M. -Multiple calls and emails with the Receiver, A. Torres and J. Di Terlizzi regarding remaining
Rostom, Wael M.- Communications with Receiver regarding Receiver's call- efforts with local Colombian counsel regarding control application and forms/documents required to be executed by Receiver. Cockbill, Jennifer - Exchange emails with S. Tyrrell; email to R. Mirdawi. Armstrong, Tayleigh - Review Affidavit and attached exhibits for information on director resignation for J. Cockbill; email J. Cockbill re same. Cockbill, Jennifer- Exchange emails and telephone call with M. Mirdawi; review email from W. Rostom; review
Mirdawi, R. - Receipt of email from J. Cockbill re: changes to Seafield Resources Ltd.; review of corporate profile report; email to her re: filing a Form I Notice of Change; subsequent emails from and to her re: same; Rostom, Wael M.- Call with P. Reynolds to discuss status. Rostom, Wael M. - Email from A. Belevan and email exchange with P. Reynolds regarding same. Rostom, Wael M.- Emails from Receiver regarding
and emails with P. Reynolds to discuss; consult with D. MacDonald regarding. -issues. Rostom, Wael M.- Reviewing power of attorney and other documents prepared by Colombian counsel to Receiver and providing comments on same.
4.70
4.20
0.10
0.40
0.80
0.30
0.30
0.10
1.20
0.40
231085 1093467
09/30/2014
Amount
3,595.50
3,213.00
57.50
90.00
460.00
66.00
229.50
76.50
918.00
306.00
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400. Toronto. Ontario, Canada M5J 213 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong [ mcmil!an.ca
271
Page 13 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date
09/22/14
09/23/14
09/23/14
09/23/14
09/23/14
09/24/14
09/24/14
09/24/14
09/24/14
09/24/14
09/24/14
Description of Services
Tyrrell, S.J.- Email to J. Cockbill and from R. Mirdawi re: change in corporate information. Rostom, Wael M.- Communications with C. Moure regarding manner of execution of control documents and power of attorney document. Rostom, Wael M.- Communications with P. Reynolds and J. Di Terizzi concerning emails received from Minera
regarding Receiver's duties concerning-
Rostom, Wael M.- Drafting email to A. Belevan regarding internal emails from Minera administrators and reply from A. Be levan. Rostom, Wael M.- Review power of attorney and final documents to be signed by Receiver in connection with application for control ofMinera; call with Receiver to discuss. Armstrong, Tayleigh- Attend Columbian consulate to legalize documents for S. Eddy. Eddy, Stephen- Correspondence with Columbian
instruct student re: legalization of documents at Columbian consulate. Eddy, Stephen - Prepare documents for execution by P Reynolds, witness execution and notarize copies of documents and passport. Rostom, Wael M.- Attending on call with RMB and Colombian counsel to discuss and debrief from call between Receiver and Colombian counsel; debrief with P. Reynolds. Rostom, Wael M.- Call with P. Reynolds regarding call - and to prepare for broader group call with RMB and Colombian counsel. Rostom, Wael M. - Email update from C. Martinez regarding status of process with Superintendencia.
Hours
0.10
0.20
2.70
0.50
0.50
1.00
0.60
0.60
1.30
0.40
0.10
231085 1093467
09/30/2014
Amount
25.00
153.00
2,065.50
382.50
382.50
225.00
240.00
240.00
994.50
306.00
76.50
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents 1 Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto 1 Ottawa I Montreal I Hong Kong I mcmillan.ca
272
Page14 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Descri(!tion of Services Hours
09/24114 Rostom, Wael M.- Instructions to S. Eddy regarding 0.40 legalization of Power of Attorney and other documents relating to application for Control.
09/25114 Cockbill, Jennifer - Exchange emails with W. Rostom. 0.20 09/25114 Davis, Paul D. - Review and respond to email from 0.10
TSXV regarding transfer of shares to NEX. 09/25114 Rostom, Wael M. -Email from A. Belevan regarding 0.10
Superintendencia's proposed visit to Minera. 09/25/14 Rostom, Wael M.- Email from B. Phipott concerning 0.10
TSX listing and advising Receiver regarding same. 09/25114 Rostom, Wael M.- Email from C. Martinez. 0.10 09/25114 Rostom, Wael M. - Emails and calls with C. Martinez 0.40
and P. Reynolds regarding update on Superintendica's process and proposed visit to Minera's offices; correspondence to C. Martinez and P. Reynolds suggesting meeting between Receiver and Superintendencia.
09/25/14 Rostom, Wael M. - Emails with J. Cockbill and P. Davis 0.10 re TSX letter.
09/25114 Rostom, Wael M. -Further emails from A. Belevan and 0.30 C. Martinez regarding Superintendencia's process on deciding about Minera insolvency application.
09/25114 Rostom, Wael M. -Instructions to S. Eddy regarding 0.60 legalization of letters and Power of Attorney prepared by J. Di Terilzzi; correspondence with J. di Terilizzi regarding same and requesting
09/25114 Rostom, Wael M.- Report from C. Martinez concerning 0.20 Superintendencia's agreement to meet with Receiver and emails with P. Reynolds and J. Di Terlizzi regarding same.
09/25/14 Rostom, Wael M. -Review and comment on Receiver's 0.30 draft email to D. Prins.
09/25114 Rostom, Wael M.- Review email from J. Di Trelizzi 0.40 providing draft letter to the Chamber informing of emails circulated by current administrators regarding director resignations; providing comments.
231085 1093467
09/3012014
Amount
306.00
115.00 76.50
76.50
76.50
76.50 306.00
76.50
229.50
459.00
153.00
229.50
306.00
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400. Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver J Calgary I Toronto I Ottawa I Montreat I Hong Kong I mcmillan.ca
273
Page 15 Our File Number: 231085 Invoice Number: 1093467
Invoice Date: 09/3012014
Account Details - Fees
Date Description of Services Hours Amount
09/25/14 Rostom, Wael M.- Review of comments from C. 0.10 76.50 Martinez on letter to Chamber.
09/25114 Rostom, Wael M. -Update from J. Di Terlizzi regarding 0.20 153.00 receipt of legalized documents from the Receiver and proceeding to file documents supporting application for control.
09/26/14 Rostom, Wael M.- Attending on call with Receiver, A. 0.60 459.00 Belevan and Colombian counsel to discuss trip to Bogota.
09/26/14 Rostom, Wael M.- Call with P. Reynolds regarding 0.40 306.00 approach with S uperintendencia and strategy for meetings in Colombia.
09/26/14 Rostom, Wael M.- Calls and emails with P. Reynolds 0.80 612.00 and travel agent planning travel and accommodations and meetings with Superintendencia.
09/26/14 Rostom, Wael M.- Emails from various parties 0.60 459.00 concerning meetings in Bogota including A. Torres, C. Martinez, G. Orits and F. Cuberos.
09/26/14 Rostom, Wael M.- Review email from- toP. 0.60 459.00 Reynolds and discussion with P. Reynolds to discuss response.
09/26/14 Rostom, Wael M.- Review emails from A. Belevan and 0.30 229.50 discuss with P. Reynolds.
09/26114 Rostom, Wael M.- Review memorandum prepared by 0.70 535.50 A. Torres concerning Colombian reorganization proceedings.
09/27114 Rostom, Wael M.- Calls and emails with P. Reynolds 0.70 535.50 regarding travel to Bogota and meetings with Superintendencia and possible meeting with D. Prins.
09/27114 Rostom, Wael M.- Emails with A. Torres and C. 0.20 153.00 Martinez regarding meetings in Bogota.
09/27/14 Rostom, Wael M. -Review 0.20 153.00 -09/28/14 Rostom, Wael M.- Travel to Bogota, review key 7.00 5,355.00 documents and discuss strategy with P. Reynolds.
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400, Toronto, Ontario, Canada MSJ 2T3 ! t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
274
Page 16 Our File Number: 231085 1093467
0913012014 Invoice Number:
Account Details - Fees
09/29/14
09/30/14
Descriotion of Services
Rostom, Wael M. - Prepare for meetings with Superintendencia; attend at offices ofPrietocarrizosa to prepare; travel to meeting and attend at Superintendencia's office; debrief with Receiver, C. Martinez and F. Cuberos; review email reports to RMB. Rostom, Wael M. - Preparing for meeting with Superintendencia and Minera in Medellin; emails and discussions with Receiver and local counsel; travel to Medellin, attending at Superintendencia's office, travel to Mineral Seafield offices and attend at settlement meeting there and travel back to Bogota; debrief with P. Reynolds and A. Belevan.
Total
HST
Total Fees and Taxes
Invoice Date:
Amount
5.60 4,284.00
12.50 9,562.50
148.30 $103,048.50 13,396.30
$116,444.80
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400, Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I ·Montreal I Hong Kong I mcmillan.cc>.
275
Page 17 Our File Number:
Account Details - Disbursements
Disbursements- Non Taxable
09115114 09115114 09/22114 09/22114
Description of Services Oncorp Direct Inc. - SEAFIELD RESOURCES LTD. Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. Oncorp Direct Inc. - SEAFIELD RESOURCES LTD. Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
Invoice Number: Invoice Date:
09/23114 Tayleigh Armstrong - Two stamps at Columbian Consulate ($27 USD each, exachanged to Canadian dollars using bank rate = $61.43 + $1.95 Cdn ATM convivence fee) Inv. No. 25.9.14.ta!T.Armstrong
09/28114 Wael Rostom- Airport Internet Fee, Inv. No. 6.1 0.14.wr/W.Rostom
09/29114 Wael Rostom- Airfare, Medllin, Columbia to Bogota, Columbia, Inv. No. 6.10.14.wr/W.Rostom
09/29/14 Wael Rostom- Airfare, Bogota, Columbia to Medllin, Columbia, Inv. No. 6.10.14.wr/W.Rostom
09/30/14 Wael Rostom- Hotel Accomodation (JW Marriott, Bogota) from September 28-30, 2014, Inv. No. 6.10.14.wr/W.Rostom
Total
Disbursements Subject to HST
Date Description of Services 09115114 Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. 09/15/14 Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. 09/22114 OncorpDirectinc.- SEAFIELD RESOURCES LTD. 09/22114 Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. 09/23/14 Federal Express Canada Ltd. - Business Centre/Jorge Di
Terlizzi!Prietocarrizosa!WB#616909412046 09/26114 Wael Rostom- Airfare from Toronto to Colombia re: attending
Client Meetings, Inv. No. 6.10.14.wr/W.Rostom 09/27114 Wael Rostom- K. Benn travel service fee, Inv. No.
6.10.14.wr/W.Rostom 09/28/14 Wael Rostom - Taxi Limousine from 2332 Silverwod Crt to
09/30114 Pearson Int'l Airport, Inv. No. 6.1 0.14.wr/W.Rostom Federal Express Canada Ltd. - Business Centre/Jorge Di Terlizzi!Prietocarrizosa!WB#616909413145 Photocopy - Taxable
231085 1093467
0913012014
Amount 3.00 8.00 3.00 8.00
63.38
3.87
752.82
56.98
1,287.73
$2,186.78
Amount 5.00 5.00 5.00 5.00
75.29
3,250.93
60.00
50.44
75.29
127.50
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f416.865.7048 laiNYers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
276
Page 18
Total HST
Total
Our File Number: Invoice Number:
Invoice Date:
231085 1093467
0913012014
$3,659.45 475.73
$4,135.18
McMillan LLP 1 Brookfield Place, 181 Bay Street, Suite 4400. Toronto. Ontario. Canada MSJ 2T3 J t 416.865.7000 I f 416.865.7048
Lawyers l Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong J mcmillan.ca
277
mcmillan
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our Fee Disbursements- Non Taxable
Disbursements Subject to HST HST
Total
Remittance Page
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
$ $
$
CAD $
231085 1093467
0913012014 Rll9428555 1210248273
103,048.50 2,186.78
3,659.45 13,872.03
122,766.76
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f416.865.7048
Lawyers I Patent & Trade-mark Agents J Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
278
mcmillan
Privileged and Confidential
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
For professional services rendered to October 31,2014.
Our Fee Disbursements -Non Taxable Disbursements Subject to HST HST
Total
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
$ $ $
231085 1096744
/113012014 R/19428555 1210248273
45,117.00 137.75
8.00 5,866.25
CAD $ 51,129.00 -----'---
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmilfan.ca
279
Page2 Our File Number: Invoice Number:
Invoice Date:
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660.
Payment is due on receipt of this account. We reserve the right to charge interest as permitted by the applicable Provincial Statute.
Payment can be made by cheque, wire transfer or ED!. Wire transfer and ED! instructions:
Royal Bank of Canada Main Branch Toronto Royal Bank Plaza 200 Bay Street Toronto, Ontario M5J 2J7
NOTE: Please include our Invoice Number in the "Payments Detail" section of the wire transfer. Thank you.
This is our Account
McMillan LLP
W.M.Rostom
231085 1096744
Il/3012014
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400. Toronto, Ontario, Canada M5J 2T3 I t 416.865.7000 I f416.865.704B Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
280
Page3
Summary of Fees and Hours
Name Wael M. Rostom Jennifer Cockbill Daniel Shouldice R. Mirdawi
Summary of Disbursements
Description of Services
Cheque- Non-taxable Searches Searches (non taxable) Searches (taxable)
Hourly Rate
765.00 575.00 435.00 220.00
Total
Total
Our File Number: Invoice Number:
Invoice Date:
Hours
53.40 5.30 2.70 0.20
61.60
231085 1096744
1113012014
Amount
40,851.00 3,047.50 1,174.50
44.00
$45117.00
Amount
121.75 8.00 8.00 8.00
$145.75
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400. Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
281
Page4 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date
09/08/14
09/08/14
09/08/14
09/08/14
10/01/14
10/01/14
10/01114
10/01/14
10/01/14
10/01/14
10/01/14
10/01/14
10/01/14
Description of Services
Rostom, Wael M.- Call with J. Di Trelizzi- Receiver's local Colombian counsel to discuss retainer. Rostom, Wael M.- Emails from A. Belevan and P. Reynolds regarding fee and disbursement guarantee from RMB. Rostom, Wael M.- Message and call with P. Reynolds regarding pending Receivership application and related matters and next steps. Rostom, Wael M.- Review and negotiate form of Receivership Order; emails regarding status of proceedings in Colombia; attending on call with P. Reynolds and Stikemans. Rostom, Wael M.- Attending on call with P. Reynolds and A. Belevan. Rostom, Wael M.- Call with P. Reynolds, F. Cuberos,
Rostom, Wael M.- Drafting summary of proposed
revising per P. Reynolds comments; and attending on call with C. Martinez and F. Cuberos to discuss. Rostom, Wael M. - Email report from F. Cuberos regarding status of discussions with Supeintendencia. Rostom, Wael M.- Emails with P. Reynolds, F. Cuberos
Rostom, Wael M.- Monitoring email traffic between F. Cuberos and A. Torres regarding suspension requests. Rostom, Wael M.- Monitoring emails between Receiver and RMB regarding funding ofMinera expenses and emails from Receiver to Minera administrators regarding essential funding requirements. Rostom, Wael M.- Review of email from F. Cuberos concerning discussions with A. Velasquez and discussions with Supeintendencia. Rostom, Wael M.- Travel back from Bogota to Toronto Canada.
Hours
0.90
0.20
0.50
1.80
0.30
0.90
1.30
0.10
0.20
0.20
0.30
0.10
7.00
231085 1096744
1113012014
Amount
688.50
153.00
382.50
1,377.00
229.50
688.50
994.50
76.50
153.00
153.00
229.50
76.50
5,355.00
McMillan LLP I Brookfield Place. 181 Bay Street Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 ! f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa [ Montreal J Hong Kong l mcmillan.ca
282
Page5 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date
10/02/14
10/02/14 10/02/14
10/02/14
10/02/14
10/02/14
10/02/14 10/03/14
10/03/14
10/03/14
10/03/14
10/03/14
10/03/14
Descriotion of Services
Rostom, Wael M.- Call with P. Reynolds, RMB and Colombian Counsel. Rostom, Wael M.- Call with P. Reynolds. Rostom, Wael M. -Calls with Stikemans regarding possible funding structures ofMinera (x2). Rostom, Wael M.- Discussions with P. Reynolds
review draft email from and providing comments.
Rostom, Wael M. - Emails with A. Belevan regarding
Cuberos. Rostom, Wael M. -Monitoring further emails between F. Cuberos and A. Velasquez. Rostom, Wael M. -Review email from D. Prins. Rostom, Wael M.- Call with F. Cuberos and P. Reynolds regarding funding request. Rostom, Wael M. -Email and call with P. Reynolds regarding Minera funding request and email from G. Oritz regarding same and position ofRMB on issue and status of A. Valesquez filing suspension of reorganization decision; email from F. Cuberos regarding position of A. Valesquez on-and funding issues. Rostom, Wael M.- Emails from S. Eddy regarding questions from Trustee regarding Pareto contractor-employee wage claim and Ministry of Labour decision. Rostom, Wael M. - Emails with Stikemans (Y. Katirai) regarding receiver's borrowing certificate; emails and calls with Stikemans and Receiver regarding extra language added to certificate. Rostom, Wael M.- Exchange of emails with P. Reynolds concerning communication with Alan Hutchison of Dentons; corresponding with Dentons regarding fees. Rostom, Wael M.- Further emails from F. Cuberos regarding communications with A. Velasquez; attending on call with F. Cuberos and P. Reynolds to discuss.
Hours
0.30
0.30 0.50
0.50
0.20
0.10
0.10 0.30
0.60
0.30
0.30
0.30
0.60
231085 1096744
1113012014
Amount
229.50
229.50 382.50
382.50
153.00
76.50
76.50 229.50
459.00
229.50
229.50
229.50
459.00
McMillan LLP t Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents t Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
283
Page6 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Description of Services Hours
10/03/14 Rostom, Wael M. - Further emails with Prieto Carrizosa 0.50 regarding discussions with A. Velasquez and--and related issues.
10/03/14 Rostom, Wael M.- Responding to Questions from F. 0.20 Cuberos.
10/05/14 Cockbill, Jennifer- Review emails from W. Rostom; 0.30 email toP. Reynolds; emails to W. Rostom.
10/06/14 Rostom, Wael M. - Emails from J. Cockbill regarding 0.10 registration of resignation of Seafield directors.
10/06/14 Rostom, Wael M.- Further emails and discussions 0.20 regarding funding mechanics for Minera/RMB and rate to be applied to Receiver borrowings.
10/06/14 Rostom, Wael M.- Further review of revisions to 0.40 Receiver's borrowing certificate made by Stikemans; responding to emails from A. Belevan and P. Reynolds.
10/07114 Cockbill, Jennifer- Teleconference with KPMG and 0.50 Colombian counsel; exchange emails with P. Reynolds; email to R. Mirdawi.
10/07114 Rostom, Wael M.- Call with J.Cockbill, P. Reynolds, A. 0.50 Collier and Felipe Cuberos regarding compiling information required for First Report of Receiver.
10/07114 Rostom, Wael M.- Emails with P. Reynolds regarding 0.20 Minera communications to Superintendencia.
10/07114 Rostom, Wael M. -Further call and emails with P. 0.30 Reynolds regarding Minera funding request.
10/08114 Rostom, Wael M.- Multiple emails regarding 0.50 confirmation that Minera had filed suspension of request for application into reorganization proceedings and related to funding requests.
10/09114 Cockbill, Jennifer- Review up date corporate search; 0.20 exchange emails with A. Collier.
10/09/14 Mirdawi, R.- Receipt of email from J. Cockbill re: 0.20 current profile report for Seafiled Resources Ltd.; receipt of same and providing it to her as requested.
10/09114 Rostom, Wael M.- Attending on call with P. Reynolds, 0.60 A. Be levan and A. Torres concerning amendments to Minera contracts.
231085 1096744
11130/2014
Amount
382.50
153.00
172.50
76.50
153.00
306.00
287.50
382.50
153.00
229.50
382.50
115.00
44.00
459.00
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400. Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmiflan.ca
284
Page 7 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Description of Services Hours
10/09/14 Rostom, Wael M.- Further emails from P. Reynolds 0.30 regarding funding inquires from and to Minera.
10/10/14 Cockbill, Jennifer- Exchange emails with A. Collier and 0.20 T. Armstrong.
10/11/14 Rostom, Wael M.- Review first draft- • 10/14/14 Rostom, Wael M.- Call with P. Reynolds and F. 0.50
Cuberos regarding status next steps, including new
10/14/14 Rostom, Wael M.- Calls with A. Belevan and C. 0.50 Martinez and F. Cuberos regarding learning of amendments to employment contracts.
10/16/14 Cockbill, Jennifer- Exchange emails with W. Rostom; 1.40 exchange emails with A. Collier; review email from A. Collier along with copies of option agreements in respect of Canadian property; teleconference with P. Reynolds, A. Collier and W. Rostom; instructions to D. Shouldice regarding review of Option Agreements.
10/16/14 Rostom, Wael M. -Conference call with A. Belevan, F. 2.20 Cuberos, P. Reynolds, A. Torres regarding current situation and concerning discovery of labour contract amendments and next steps; debrief with P. Reynolds.
10/16/14 Rostom, Wael M.- Drafting list of questions for F. 1.50 Cuburos and C. Martinez to review, consider and respond; email comments from A. Belevan, A. Vogul and P. Reynolds.
10/16/14 Rostom, Wael M.- Review email from A. Collier 0.50 regarding Elora property and instructions to J. Cockbill.
10/16/14 Rostom, Wael M.- Review emails from A. Collier 0.40 concerning Pareto contractor claims. Instructions to S. Eddy.
10/16/14 Rostom, Wael M.- Review letter to A. Velasquez. 0.30 10/16/14 Shouldice, Daniel - Review option agreement and discuss 0.20
with J. Cockbill. 10/17/14 Rostom, Wael M.- Further emails and calls regarding 0.50
funding requests from Minera and letter to A. Velasquez.
231085 1096744
1113012014
Amount
229.50
115.00
-382.50
382.50
805.00
1,683.00
1,147.50
382.50
306.00
229.50 87.00
382.50
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400. Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avo cats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
285
PageS Our File Number: 231085 Invoice Number: 1096744
Invoice Date: 11/30/2014
Account Details - Fees
Date Description of Services Hours Amount
10/17114 Rostom, Wael M.- Receipt of request by Super of 0.80 612.00 additional information required to address Minera's application for admission into reorganization; call with P. Reynolds and F. Cuberos to discuss.
10/19114 Shouldice, Daniel - Review option agreement for J. 0.50 217.50 Cockbill.
10/20/14 Rostom, Wael M.- Debrief with P. Reynolds from call 0.20 153.00 with RBM about Canadian issues.
10/20/14 Rostom, Wael M.- Email from A. Belevan; responses 0.10 76.50 from F. Cuberos.
10/20/14 Rostom, Wael M. - Em ails and discussion with P. 0.10 76.50 Reynolds regarding call with Colombian counsel.
10/20/14 Rostom, Wael M. -Further call with RMB and 1.00 765.00 Colombian counsel to discuss letter to A. Velasquez and related issues.
10/20114 Rostom, Wael M.- Review responses from C. Martinez 2.00 1,530.00 and F. Cuberos
discuss with Receiver in advance of call with Colombian counsel.
10/21114 Cockbill, Jennifer- Review memo from D. Shouldice 2.40 1,380.00 and provide comments;
review revised memo and email toW. Rostom with conclusions; review memo from T. Armstrong and R. Midawi regarding corporate change notice.
10121!14 Rostom, Wael M. - Several calls and emails with RMB, 2.60 1,989.00 Receiver and Colombian counsel regarding next steps; review memo from J. Cockbill regarding Seafield Canada assets.
10/21!14 Shouldice, Daniel - Draft memo re review of option 2.00 870.00 agreement for J. Cockbill; emails with J. Cock bill re option agreement.
10/22/14 Rostom, Wael M. -Attend 2.00 1,530.00 Receiver and Colombian counsel; review list of action items from call and debrief with P. Reynolds.
10/22114 Rostom, Wael M.- Drafting Agenda for- 0.20 153.00
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400, Toronro, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto r Ottawa I Montreat I Hong Kong I mcmillan.ca
286
Page9 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date
10/22114
10/22114
10/22/14
10/23/14
10/23/14
10/23114
10/23/14
10/23/14 10/23114 10/23114
10/23/14
10/23/14
10/23/14
10/23114
10/23/14
10/23/14
Description of Services
Rostom, Wael M.- Preparing for and attending on call with Receiver, RMB and Colombian counsel regarding action plan and next steps. Rostom, Wael M.- Review action items list prepared by A. Torres. Rostom, Wael M. -Review responses from F. Cuberos regarding questions on various issues from the Receiver. Cockbill, Jennifer - Exchange emails with W. Rostom; exchange emails with A. Collier. Rostom, Wael M.- Call with P. Reynolds to review various documentation received from Minera and from Prietocarrizosa; consider actions by directors of Seafield in Canada; issue email questions to Prietocarrizosa;
Rostom, Wael M. -Discuss comments from F. Cuberos on letter regarding labour amendments. Rostom, Wael M.- Email from A. Velasquez and comments from F. Cuberos. Rostom, Wael M. - Emails from A. Belevan. Rostom, Wael M. - Emails from C. Gonzalez. Rostom, Wael M.- Emails from C. Martinez and C. Gonzalez concerning letter from Velasquez. Rostom, Wael M.- Emails from RMB regarding funding ofMinera. Rostom, Wael M. - Emails regarding verification of cash call by Minera. Rostom, Wael M.- Emails to F. Cuberos regarding preparing for reorganization proceedings; response from A. Belevan. Rostorn, Wael M. -Further edits to letter to Minera regarding amendments to labour contracts. Rostom, Wael M. -Further emails and edits to correspondence to Minera and A. Velzquez. Rostom, Wael M.- Review due diligence and research concerning
1.70
0.10
0.30
0.30
2.20
0.30
0.10
0.30 0.10 0.10
0.10
0.10
0.20
0.30
0.30
0.20
231085 1096744
1113012014
Amount
1,300.50
76.50
229.50
172.50
1,683.00
229.50
76.50
229.50 76.50 76.50
76.50
76.50
153.00
229.50
229.50
153.00
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400. Toronto. Ontario. Canada M5J 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto J Ottawa I Montreal I Hong Kong I mcmillan.ca
287
Page 10 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Description of Services Hours
10/24/14 Rostom, Wael M.- Review various proposed letters and 2.80 correspondence to Minera and counsel to Minera; calls and emails with P. Reynolds and D. Beltran; revise correspondence and circulate to RMB.
10/26/!4 Rostom, Wael M.- Exchange of emails with P. Reynolds 0.20 concerning moving matters forward with letter to Superintendencia.
10/27/!4 Rostom, Wael M.- Email from C. Gonzalez ofKPMG. 0.10 10/27/14 Rostom, Wael M.- Review P. Reynolds' letter to 0.60
Superintendencia and providing comments. 10/28/14 Rostom, Wael M.- Email from C. Gonzalez regarding 0.10
draft letter to Superintendencia. 10/28/!4 Rostom, Wael M.- Email from R. Winters and update 0.10
email from P. Reynolds. 10/28/14 Rostom, Wael M.- Review Writ to Insist on Process of 0.60
Control prepared by Prietocarrizosa; emails with P. Reynolds; providing comments.
10/28/!4 Rostom, Wael M.- Update email from F. Cuberos; 0.10 email from P. Reynolds.
10/29/!4 Rostom, Wael M.- Email from D. Beltran providing 0.10 evidence of filing of request to re-commence control procedure.
10/30/14 Rostom, Wael M.- Numerous emails regarding open 2.90 issues in Colombian and actions against administrators of Minera; long call with RMB, Receiver and Colombian Counsel; debrief with P. Reynolds.
10/31/14 Rostom, Wael M. - Emails from D. Beltran and A. 1.60 Torres regarding communications from A. Velasquez and communications to the Super; call with Phil Reynolds to discuss.
Total 61.60 HST
Total Fees and Taxes
231085 1096744
1113012014
Amount
2,142.00
153.00
76.50 459.00
76.50
76.50
459.00
76.50
76.50
2,218.50
1,224.00
$45,117.00 5,865.21
$50,982.21
McMillan LLP l Brookfield Place. 181 Bay Street. Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Pat em & Trade-mark Agents I Avocats I Agents de brevets er de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
288
Page 11 Our File Number: Invoice Number:
Invoice Date:
Account Details - Disbursements
Disbursements - Non Taxable
Date 09112114
09115114
10113/14
DescriPtion of Services Royal Bank Visa- Insolvency search. Inv #M.S-AU G21-SEP23/20 14/M.Singleton Mudasir Marfatia- Legalization of Canadian Court Order at Columbian Consulate, Inv. No. 15.9.14.mm/M.Marfatia Oncorp Direct Inc. - SEAFIELD RESOURCES LTD.
Total
Disbursements Subject to HST
Date 10/13114
Description of Services Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
Total HST
Total
231085 1096744
11130/2014
Amount 8.00
121.75
8.00
$137.75
Amount 8.00
$8.00 1.04
$9.04
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400. Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade·markAgents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
289
mcmtllan
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our Fee Disbursements- Non Taxable
Disbursements Subject to HST HST
Total
Remittance Page
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
$ $ $
231085 1096744
I 113012014 Rll9428555 1210248273
45,117.00 137.75
8.00 5,866.25
CAD $ 51,129.00 ----'--'-
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865'.7048
Lawyers I Patenr & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmil!an.ca
290
mcmillan
Privileged and Confidential
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON MSH 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
For professional services rendered to November 30, 2014.
$
231085 1096873
11/30/2014 RJJ9428555 1210248273
30,152.00 3,919.76
Our Fee HST Total CAD $ __ ....;;.34.;.:'.;..07~1,;_. 7.,;.,6
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong l mcmillan.ca
291
Pagel Our File Number: Invoice Number:
Invoice Date:
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660.
Payment is due on receipt ofthis account. We reserve the right to charge interest as permitted by the applicable Provincial Statute.
Payment can be made by cheque, wire transfer or ED!. Wire transfer and ED! instructions:
Royal Bank of Canada Main Branch Toronto Royal Bank Plaza 200 Bay Street Toronto, Ontario M5J 2J7
NOTE: Please include our Invoice Number in the "Payments Detail" section of the wire transfer. Thank you.
This is our Account
McMillan LLP
W.M.Rostom
231085 1096873
1113012014
McMillan tLP I Brookfield Place, 181 Bay Street, Suite 4400. Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
292
Page3 Our File Number: 231085 Invoice Number: 1096873
Invoice Date: 1113012014
Summary of Fees and Hours
Name Hourly Rate Hours Amount
Wael M. Rostom 765.00 17.50 13,387.50 Stephen Brow-Okruhlik 360.00 13.00 4,680.00 Kristen Pennington 225.00 16.70 3,757.50 Brett Harrison 700.00 4.30 3,010.00 Daniel Shouldice 435.00 6.00 2,610.00 Jennifer Cockbill 575.00 4.40 2,530.00 James Munro 600.00 0.20 120.00 M. Singleton 190.00 0.30 57.00
Total 62.40 ~30,152.00
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400. Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmil!an.ca
293
Page4 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
11102/14
11102114
11103/14
I 1103/14
11103114
I 1/04/14
I 1104114
I 1105114
I 1107114
11110114
Description of Services
Rostom, Wael M.- Call with P. Reynolds concerning
Rostom, Wael M.- Email from P. Reynolds concerning communication-Rostom, Wael M. - Emails from A. Belevan and P. Reynolds regarding mining titles and funding ofMinera. Rostom, Wael M. - Emails with F. Cuberos concerning conference call. Rostom, Wael M.- Review emails from P. Reynolds sent to A. Velasquez. Rostom, Wael M. -Attending conference call with Receiver, RMB and Colombian counsel to discuss various matters including funding, control procedure and withdrawal of reorganization proceedings. Rostom, Wael M.- Further emails refunding Minera and Receiver's certificate; review agenda prepared by Receiver; further emails regarding conference call. Rostom, Wael M.- Attending on call with A. Belevan and Receiver to discuss multiple issues, including funding resolution to require issuance of shares for funding,
Rostom, Wael M. -Attending on call with A. Belevan,
numerous emails and communications with Colombian counsel regarding action plans and next steps; call with P. Reynolds; and review shareholder resolutions for signature by P. Reynolds. Rostom, Wael M.- Emails from Prieto Carrizosa regarding review power of attorney setting up time for call and attending on call with the Receiver, RMB and Colombian counsel; debrief with P.Reynolds.
0.40
0.10
0.10
0.10
0.10
1.10
0.20
1.20
3.10
2.30
231085 1096873
I 113012014
Amount
306.00
76.50
76.50
76.50
76.50
841.50
153.00
918.00
2,371.50
1,759.50
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa 1 Montreal I Hong Kong I mcmi!lan.ca
294
Page5 Our File Number: 231085 Invoice Number: 1096873
Invoice Date: 1113012014
Account Details - Fees
Date Descril!tion of Services Hours Amount
11111114 Rostom, Wael M.- Review of various emails between 0.80 612.00 RMB, Receiver and Colombian counsel; review minutes of shareholder.
11112114 Harrison, Brett- Call from W. Rostom R.- • --11/13114 Cockbill, Jennifer- Telephone call with W. Rostom; 0.50 287.50 instructions to D. Shouldice; discussions with D. Shouldice
11113114 Rostom, Wael M.- Emails from Prieto Carrizosa, P. 0.40 306.00 Reynolds and RMB.
11/13/14 Shouldice, Daniel - Revise memo for J. Cockbill re 2.50 1,087.50 option agreement between Seafield and Elora; emails with J. Cockbill
11114/14 Cockbill, Jennifer- Review memo from D. Shouldice 2.00 1,150.00 along with option agreements; telephone call with W. Rostom; telephone call with J. Munro; teleconference with P. Reynolds and A. Collier; emails to D. Shouldice; discussion with D. Shouldice.
11/14/14 Munro, James- Telephone call from J. Cockbill 0.20 120.00 regarding interpretation
11114/14 Rostom, Wael M.- Attend on call with Receiver 0.50 382.50 regarding Canadian assets and next steps.
11/14/14 Rostom, Wael M. - Preparing for and attending on 1.00 765.00 conference call with Receiver, RMB and Colombian counsel.
11/14/14 Shouldice, Daniel- Draft revised memo for J. Cockbill re 3.00 1,305.00
11116114 Cockbill, Jennifer- Review memo from T. Armstrong 0.40 230.00 regarding exchange emails with D. Shouldice.
11117114 Cockbill, Jennifer- Exchange further emails with D. 0.50 287.50 Shouldice review and revise draft letter to Manitou and send toW. Rostom for review.
McMillan LLP J Brookfield Place. 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmil!an.ca
295
Page6 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Description of Services Hours
11117/14 Shouldice, Daniel - Discuss option agreement memo with 0.50 J. Cockbill; review research from T. Armstrong re
em ails with J. Cockbill and T. Armstrong re research
11119/14 Brown-Okruhlik Stephen- Meeting with W. Rostom and 1.40 B. Harrison preliminary questions.
11119114 Harrison, Brett- Meeting with W. Rostom and S. Brown 1.60 review additional documents
Re same; meeting with S. Brown Re next steps. 11/19114 Harrison, Brett~ Receipt and review of documents !.50
related to email from A. Belevan Re
Cuberos and W. Rostom Re same. 11119/14 Rostom, Wael M.- Call with P. Reynolds in preparation 0.30
for call with A. Belevan; email to F. Cuberos requesting translation of labour agreements.
11119114 Rostom, Wael M. -Email exchange between Receiver 0.10 and RMB concerning Minera funding request.
11119/14 Rostom, Wael M.- Email update from F. Cuberos 0.10 concerning status of control procedure.
11/19114 Rostom, Wael M.- Meeting with B. Harrison regarding 0.70
11/20/14 Harrison, Brett- Email from A. Bel evan Re appointment 0.30 of new directors; emails from F. Cuberos and W. Rostom Re same.
11120114 Rostom, Wael M.- Emails from A. Belevan and F. 0.10 Cuberos.
11/20114 Rostom, Wael M.- Emails from F. Cuberos regarding 0.10 addressing application for admission into reorganization.
11121114 Brown-Okruhlik Stephen- Reviewing client materials; 6.10
11121114 •
231085 /096873
11/30/2014
Amount
217.50
504.00
1,120.00
1,050.00
229.50
76.50
76.50
535.50
210.00
76.50
76.50
2,196.00
-McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400, Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers J Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
296
Page 7 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date
11/21114
11/21/14
11/24114
11/25/14
11125114
11126/14
11126/14
11/26114
11/26/14
11/26114
11/27/14
11/27/14
Description of Services
Rostom, Wael M.- Call with P. Reynolds, A. Collier and J. Cockbill to discuss Seafield Canadian assets/issues and next steps. Singleton, M. - Obtained a preliminary name search and corporate search and document list; email to lawyer. Rostom, Wael M.- Emails from D. Beltran regarding update on communication from Superintendencia. Rostom, Wael M.- Email from F. Cuberos regarding registration of new directors with Chamber and acceptance by Chamber. Rostom, Wael M. -Further emails from Prieto Carrizosa regarding registration matters.
Brown-Okruhlik. Rostom, Wael M. -Email from C. Martinez concerning investigation of D. Prins and G. Ortiz. Rostom, Wael M.- Emails from A. Belevan regarding list of action items - email toP. Reynolds. Rostom, Wael M. -Further emails from P. Reynolds, C. Martinez and A. Belevan regarding investigation of D. Prins and G. Ortiz, locating additional directors and new general manager for Minera. Rostom, Wael M.- Review note from F. Cuberos regarding assessment
email toP. Reynolds regarding same. Cockbill, Jennifer- Telephone call with A Collier; email to A. Collier regarding draft letter to Manitou; discussion with colleague regarding termination of royalty interests; exchange emails with W. Rostom. Rostom, Wael M.- Emails with J. Cockbill regarding Manitou property; em ails with J. Cockbill regarding ability to vest out Elora's royalty interest and option in sale.
Hours
0.50
0.30
0.10
0.10
0.10
• 0.10
0.20
0.20
0.20
1.00
0.40
231085 1096873
1113012014
Amount
382.50
57.00
76.50
76.50
76.50
-76.50
153.00
153.00
153.00
575.00
306.00
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
297
Page8 Our File Number: Invoice Number:
Invoice Date:
Account Details- Fees
11/27/14
11/28/14
11/28/14
11/28/14
11/28/14
11/29/14
11/29/14
11/29/14
11/29/14
11/30/14
11/30/14
Description of Services
Rostom, Wael M.- Emails with P. Reynolds and A. Belevan regarding status. Brown-Okruhlik Stephen- Reviewing law on-
Rostom, Wael M.- Emails from P. Reynolds regarding
Rostom, Wael M.- Emails with P. Reynolds and Alvaro Belevan; emails from D. Beltran regarding corporate governance. Brown-Okruhlik Stephen - Researching
Pennington, Kristen - Consult secondary sources re:
Rostom, Wael M.- Call with P. Reynolds and A. Bel evan. Rostom, Wael M.- Emails from A. Belevan regarding
Pennington, Kristen- Receive instructions from S. Brown-Okruhlik; reS<larc:h
Brown-Okruhlik. Rostom, Wael M.- Pre-Call with J. Cockbill to prepare for call with Receiver regarding Manitou option agreement.
0.10
1.80
3.00
0.20
0.50
• 3.80
1.00
0.60
6.70
0.40
231085 1096873
1113012014
Amount
76.50
648.00
675.00
153.00
382.50
-855.00
765.00
459.00
1,507.50
306.00
Total 62.40 $30,152.00 HST 3,919.76
Total Fees and Taxes $34,071.76
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmil!an.ca
298
mcmtllan Our File Number 231085 Invoice Number 1096873
Invoice Date 11/30/2014 GST Registration Number RJJ9428555 QST Registration Number 1210248273
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Remittance Page
Our Fee $ 30,152.00 HST 3,919.76
Total CAD $ 34,071.76
McMillan LLP t Brookfield Place, 181 Bay Street, Suite 4400, Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers t Patem & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreat I Hong Kong I mcmillan.ca
299
mcmillan
Privileged and Confidential
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
For professional services rendered to December 31, 2014.
Our Fee Disbursements Subject to HST HST
Total
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
$ $
CAD $
231085 1100697
1213112014 R119428555 1210248273
47,969.00 29.89
6,239.86 54,238.75
McMillan LLP J Brookfield Place. 181 Bay Street, Suite 4400, Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreat I Hong Kong I mcmillan.ca
300
Page2 Our File Number: Invoice Number:
Invoice Date:
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660.
Payment is due on receipt of this account. We reserve the right to charge interest as permitted by the applicable Provincial Statute.
Payment can be made by cheque, wire transfer or ED!. Wire transfer and ED! instructions:
Royal Bank of Canada Main Branch Toronto Royal Bank Plaza 200 Bay Street Toronto, Ontario M5J 2J7
NOTE: Please include our Invoice Number in the "Payments Detail" section of the wire transfer. Thank you.
This is our Account
McMillan LLP
W.M.Rostom
231085 1100697
12131/2014
McMillan LLP J Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 1 f416.865.704B
Lawyers I Patent & Trade·mark Agents I Avo cats J Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
301
Page3 Our File Number: 231085 Invoice Number: II00697
Invoice Date: 12131/2014
Summary of Fees and Hours
Name Hourlr Rate Hours Amount
Wael M. Rostom 765.00 21.10 16,141.50 James Munro 600.00 20.00 12,000.00 Brett Harrison 700.00 11.40 7,980.00 Stephen Brow-Okruhlik 360.00 21.00 7,560.00 Kristen Pennington 225.00 10.10 2,272.50 Jennifer Cockbill 575.00 2.40 1,380.00 Jonathan Rajzman 225.00 2.70 607.50 Janine Biener 275.00 0.10 27.50
Total 88.80 ~47,969.00
Summar:~: of Disbursements
Descril!tion of Services Amount
Cheque - Taxable 26.89 Searches 3.00
Total $29.89
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400, Toronto. Ontario, Canada MSJ 213 l t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmi!lan.ca
302
Page4 Our· File M1mber: Invoice Number:
Invoice Date:
Account Details -Fees
~
11126114
11127114
11128114
12101114
12101114
12101114
12101114
12101114
12102114
12/02/14
Desc•·iption of Senices
Harrison, Brett - Email from W. Rostom Re additional documents; review same; emails tolfrom S. Brovm Re same. Harrison, Brett- Emails tolfrom S. Brown Re research; calls tolfrom S. Brovm Re same. Hanison, Brett - Emails and calls ft·omlto K. Petmington Re research. Brown-Oktuhlik Stephen- Researching law on
research. Harrison. Brett - Email from W. Rostom Re translated employment agreements; review same; emails tolft·om S. Brown Re same: emails fromfto W. Rostom Re
calls and emails tolfrom S. Brown Re legal research. Pennington, Kristen - Meet with S. Brovm-Okmhlik to discuss progress re: Seafie1d receivership research; receive further instmctions for continued research. Pennington, Kristen -
sullllllarize findings, comparisons and relevant case law for S. Brown-Oktuhlik. Rostom, Wael M. - Emails regarding conference call to discuss issues raised by RMB; email from Rowen Cross regarding RMB loan amendments; emails from F. Cuberos responding to questions from A. Belevan; emails providing English translations of labour contracts and amendments. Brown-Okt1ihlik Stephen - Reviewing K. Pennington's
Cockbill, Jetmifer- Email to J. Muuro regarding Option Agreement Review.
0.60
0.40
0.40
2.60
1.10
0.50
4.00
0.40
3.90
0.20
131085 II00697
11/31/1014
Amount
420.00
280.00
280.00
936.00
770.00
112.50
900.00
306.00
1,404.00
115.00
McMillan u.r 1 Brookfield Place. 181 Bay Srreer. Suite 4400, Toronro. Ontario, Canada MSJ 213 1 t 416.865.7000 I f 416.86S.J<H8
Lawyers I P.utcnt & Tri.lde·mark Agent:; I Avoca!!> I Agents de brevets ct de m<:lrCJUt~i cle commerce
Vancouver I Calgary I Toronto l Ottaw~~ I Montr~;:~l I Hong Kong I mcmi!lan.ca
303
Page5 Our File Number: Invoice Number:
Invoice Date:
Account Details -Fees
!!l!k Desctiption of Senices !!l!!!u 12/02/14 Harrison, Brett - Receipt and review of additional legal 1.10
research; call to S. Brown-Okruhlik Re same; email from W. Rostom Re Colombian labour law; email to W. Rostom Re litigation memo.
12/02/14 Rostom, Wael M.- Call with P. Reynolds to discuss 0.30 steps to assist new administrators get up to speed.
12/02114 Rostom, Wael M. - Email exchanges with F. Cuberos 0.30 regarding creating critical path checklist; email from A. Belevan and response to P. Reynolds.
12/02/14 Rostom, Wael M. -Email with B. Harrison concerning 0.10
12/02/14 Rostom, Wae1 M. - Emails from R. Cross, A. Belevan 0.30 and C. Mitchell regarding potential for RMB new advances to Minera to be secured; email toP. Reynolds resame.
12/02/14 Rostom, Wael M. -Review emails from F. Cubems and 0.30 A. Belevan regarding !abo~ -12/03/14 memore- •
12/03114 Harrison, Brett - Reviewing updated legal research; 2.60 review related docmnents; meeting with S. Brown-Oknthlink Re research and memo; conference call with W. Rostom and S. Brown-Okmhlink re same; email to Receiver Re same.
12/03/14 Mtmro, James- Review email from J. Cockbillregarding 2.00 Seafield option agreement matters; review tmderlying
12/03/14 1.60
stiiillllllrize findings for S. Brown-Okruhlik. 12/03/14 •
Brown-OkruWik; update research smlllllary accordingly.
231085 1100697
12131/2014
Amount
770.00
229.50
229.50
76.50
229.50
229.50
-1,820.00
1.200.00
360.00
-McMillan ur 1 Brookfield Place. 181 Bay Street. Suite 4400. Taromo. Ontario, Canada MSJ 213 1 t 416.865.7000 1 f 416.865.7048 lawyers I Patent & Trade·mmkAgents I Avocms I Agenrs cle brevets e: de marques de commerce
Vancouver 1 Calgary 1 Toronto r ouaw.:t I Montreat 1 Hong Kong 1 mcmillatTGl
304
Page6 Our File Number: Invoice Number:
Invoice Date:
Account Details -Fees
lli!k 12/03/14
12/03/14
12/03/14
12/04/14
12/04/14
12/04/14 12/04/14
12/04/14
12/04/14
12/04/14
12/04/14
12/04/14
12/04/14
Description of Services
regarding same. Rostom, Wael M. -Numerous emails from RMB's local and Canadian cmmsel regarding amendments to financing documents; review same; call with P. Reynolds to discuss; call with Stikemans to discuss. Rostom, Wael M. -Review email from C. GollZales and attached Minera work plan. Brown-OktuWik Stephen - Researching, drafting and revising memo re -Hanison, Brett -Email from S. Brown-Oktuhlik Redraft
review and revise same; re\<iew additional legal research; emails and calls to/from S. BroW1l-OkmWik Re re\~sions to memo; emails from/to W. Rostom Re additional facts; re~ew and revise memo; emails to/from S. Browu-OktuWik Re same. Muuro, James -Attend Pellllingtou, Kristen - Conduct additional research into
Rostom, Wael M.- Calls and emails with C. Mitchell and A. Taylor regarding possible funding sltuctures to Min era. Rostom, Wael M. - Email from A. Collier regarding receivership matters and response. Roston1, Wael M. - Fmther emails from Stikemans and A. Belevan regarding new RMB ftmdiug stmcture. Rostom, Wael M. - Monitming email traffic conceming new RMB loan stmcturing. Rostom, Wael M. -Review checklist ofillllllediate critical path items prepared by D. Beltran and response.
~
0.90
1.10
0.20
10.00
3.80
1.50 3.60
• 0.50
0.10
0.20
0.20
0.20
231085 1100697
12131/2014
Amount
688.50
841.50
153.00
3,600.00
2,660.00
900.00 810.00
-382.50
76.50
153.00
153.00
153.00
McMillan tLr J Brookfield Place, 181 Bay Street. Suite 4400. Toronto. Ontario. Canada MSJ 213 1 t •116.865.7000 1 f 416.865.7048
lawyers I Patent &. Trade·m<'rk Agents I Avocms I Agents de hrcvcts et de marques de commerce
Vancouver 1 Calgary J Toromo I Ottawa I Momr~at J Hong Kong 1 mcmiltan.ca
305
Pagel Our File Number: 231085 Invoice Number: 1100697
Invoice Date: 12131/2014
Account Details -Fees
lli!k Descliption of Services ~ Amount
12/04/14 Rostom, Wael M. -Review multiple e~nails from A. 0.70 535.50 Belevan, C. Mitchel and A. Ton-es regardiog Mioera fundiog call with P. Reynolds.
12/04/14 Rostom, Wael M. -Review munerous e~uails concerning 0.40 306.00
12/05/14 Hamson, Brett- Emails from/toW. Rostom Re CoC 1.10 770.00 provision_: review and memo; email to W. Rostom Re same.
12/05/14 Mmrro. James -Attend to research pertaining to 3.50 2,100.00 draft memorand1m1
regarding same; email to J. Cockbill regarding memorandmu matters.
12/05/14 Rostom, Wael M.- Emails and call with A. Belevan, P. !.50 1,147.50 Reynolds and RMB and Receiver's Colombian cotmsel concerning nwnerous issues including, • and ftmdiog of Min era and control procedure and application to withdraw application for reorganization proceedings.
12/06/14 2.00 1,530.00
12/06/14 Rostom, Wael M. -Email reports from C. Gonzales 0.20 153.00 regardiog priority items to address in Colombia re Min era.
12!07/14 Rostom, Wael M.- Emails from A. Belevan and P. 0.20 153.00 Reynolds regarding-
12!08/14 Cockbill, Jennifer- Exchange emails with W. Rostom. 0.20 115.00 12!08!14 Harrison, Brett- Emails from/to S. Brown-Okruhlik Re 0.30 210.00
12/08/14 research regarding- 2.00 1,200.00 update
memorandmu with respect to same.
McMillan LLr I Brookfield Place. 181 Bay Street, Suite 4400. Tcromo. Ontario. Cnnada MSJ 213 1 t 416.865.7000 1 f 416.865.7048
Li'l\V}'CfS I Patent & Trade·m<~rk Agents I Avoc.ms I Agents d~ brevets et de marques de commerce
VJncouver I Calg<Jry I Toronto I Ottawa I Monttt~al I Hong Kong l mcmi!lan.ca
306
Page8 Our File N11mber: Im•oice Ntm1be1·:
Invoice Date:
Account Details -Fees
!!l!k 12/08/14
12/08/14
12/08/14
12/09/14
12/09/14
12/09/14
12/09114
12/10/14
12110/14
12/10114
12/10114
12/11/14
Description of Services
Rostom, Wael M. - Emails - ftmding ofMinera, cessation of control measure and withdrawal of application for restmctnring proceedings. Rostom, Wael M.- Emails with P. Reynolds and J. Cockbill concerning tennination of D. Prins contract with Seafield Resources. Rosto111, Wael M. -• and responses from Colombian cowtsel regarding same. Cockbill, Jennifer- Email to A. Collier; exchange emails with J. Mwrro. MWII"o, James -Finalize memorandtun regarding-
Rosto111, Wael M. - Several emails with Stikemans concerning Minera funding strncflrre; call with C. Mitchell: call with P. Reynolds; review emails from Colombian cOtmsel regarding funding of Min era; drafting response. Biener, Janine - Teraview subsearch regarding registered Notice of Option Agreement No. KN31373. Cockbill, Jennifer- Email from A. Collier; discttssions with J. Mmrro; instructions toT. Annstrong. MWII"o, James -Attend to title search matters; review property description compared to title searches received and note deficiencies; review and consider "notice" on title;
Rostom, Wael M.- Call with P. Reynolds and D. Beltran regarding various govemance issues and issues snnounding RMB financing strnctme. MWII"o, Jan1es -Attend to further research regarding
revise memorandum.
!!!!!U 0.70
0.30
0.20
0.30
3.00
0.30
2.10
0.10
0.20
4.00
1.00
2.00
231085 1100697
12/3112014
Amount
535.50
229.50
153.00
172.50
1,800.00
229.50
1.606.50
27.50
115.00
2,400.00
765.00
1.200.00
McMWan ttr 1 Brookfield Place. 181 Bay Street, Suite 4400. Tcromo, Ontario, Canada MSJ 2T3 1 t 4!6.865.7000 1 f 416.865.70·!8
li1\vycrs I Patcnr & Trcde·mark Agcnt5 I Avocms I Agent!. de brevets et de marques de comrncrce
Vancouver I Calgary I Tcromo I Ottawo I Montr<"al I Hong Kong I mcmillan.ca
307
Page9 Our File Number: Invoice Number:
Invoice Date:
Account Details -Fees
!!l!tt 12/11/14
12/11114
12/12/14
12/13/14
12115/14
12/16/14
12/16/14
12/16/14
12/171!4
12/17/14 12/18/14
12/19/14
12/19/14
12/221!4
12/22/14
Description of Sel'\'ices
Roston>, Wael M. - Emails from C. Gonzales and P. Reynolds regarding termination of D. Prins. Rostom, Wael M. -Review financing documents prepared by R. Cross and A. Torres. Rostom. Wael M. - Emails from A. Belevan regarding trip to Colombia. Rostom, Wael M. -Email updates from A. Belvan and C. Gonzales regarding RMB trip to Colombia. Rostom, Wael M.- Email toP. Reynolds regarding Seafield receivership. Rostom, Wael M.- Emails from F. Cuberos, A. Belevan and P. Reynolds: call with P. Reynolds. Rostom, Wael M. - Emails to RMB's collllSel regarding amendments to fmancing documents. Rostom, Wael M. -Further email with C. Mitchell and local counsel for RMB regarding financing docmnents. Cockbill, Jellllifer -Discussion with J. Mllllfo Elora Royalty: exchange emails with W. Rostom: telephone call with W. Rostom; review ftuther emails from W. Rostom. Rostom, Wael M. - Minera Fllllding issues. Rostom. Wael M. -Multiple emails regarding Minera loan agreement and shareholder resolution; review resolution and loan agreement, provide co1111nents to Prieto Carrizosa; emails with A. Belevan ofRMB and P. Reynolds. Mllllfo, James - Locate amended and restated option and joint venture agreement between Elora Gold Mines Lilllited and Seafield Resources Ltd. and review same; revise and finalize memorandum Rostom, Wael M.- Emails from D. Spencer-Laitt regarding loan agreement. Rostom, Wael M.- Call with P. Reynolds and F. Cnberos conceming govemance ofMinera. Roston>, Wael M. -Email from P. Buritica regarding 31lllual budget ofMinera and Board of Directors and reply.
~
0.20
0.20
0.10
0.10
0.10
0.70
0.20
0.10
0.50
0.90 1.00
2.00
0.20
0.50
0.20
231085 1100697
12131/2014
Amount
153.00
153.00
76.50
76.50
76.50
535.50
153.00
76.50
287.50
688.50 765.00
1,200.00
153.00
382.50
153.00
McMillan LLr l Brookfield Place. 181 Bay Street Suite 4400, Taromo. Ontario. Canada MSJ 21'3 1 r 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avo<:<ll~ I Agen:s de brevets e: de marques ell! commcrL-e V.;1ncouver I Calgary I Toronto I Ottawa I MontrCal I Hong Kong I mcmillan<.il
308
Page10 Our File Number: Invoice NumbeJ":
Invoice Date:
Account Details- Fees
~
12122114
12/22114 12123/14
12/24/14
12/24/14
12/28/14
12/29/14
12/29/14
12/29/14
12/30/14
Desct·iption of Senices
Rostom, Wael M. -Email from W. Bains ofRMB re funding of Receiver under receiver's certificate. Rostom, Wael M Emails with P Reynolds
Rostont, Wael M. - Emails from A. Belevau regarding correspondence from D. Prius and responses from C. Gonzalez (KPMG) and C. Porras. Rostom, Wael M. - Emails fi·om A. Bel evan regarding need to pay invoices to cotmsel for Miuera. Rostom, Wael M. - Emails with P. Reynolds regarding call to discuss Minera cmporate govemance. Rostom, Wael M. -Email from P. Buritica regarding Miuera engagement letter. Cockbill. Jennifer- Review memo from J. Mmtro
emails toW. Rostom. Rostom, \Vael M.- Email from J. Cockbill regarding Elora interest in Seafield property
Rostom, \Vael M. - Emails from A. Belevan regarding Miuera engagement letter for Colombian cotmsel; emails with P. Reynolds and A. Taylor concemiug govemance ofMiuera; email from P. Bttritica from Prieto Carrizosa regarding engagement letter; email from P. Reynolds regarding issuance of receiver's certificate. Rostom, \Vael M.- Call with P. Reynolds and A. Taylor (Stikemans) regarding co1porate govemance ofMiuera.
0.10
020 0.20
0.20
0.10
0.10
1.00
0.20
0.30
0.50
231085 1100697
12/31/2014
Amount
76.50
153 00 153.00
153.00
76.50
76.50
575.00
153.00
229.50
382.50
Total 88.80 $47,969.00 HST 6,235 97
Total Fees and Taxes $54,204.97
McMillan ttr 1 Brookfield Place, 181 Bay Srreet. Suite 4400. Toronto, Ontario. Canada MSJ 2T3 I r 416.865 .. 7000 1 f 416.865.7048
Lavvycrs I Patent & Tr<.lde·mmk /\gents I Avocats I Agents de brt..-'1/Cts ct de marques de commcr< .. "e
Vancouver I Calgary I Toronto I Ottawa l Montreal 1 Hong Kong 1 mcmillaJH.('I
309
Pagell Our File Number:
Account Dl'tails - Dlsbm·sl'ml'nts
Dlsbm·sl'ml'nts Sub!l'ct to HST
.!!l!!£ 10/06/14
12/10114
Dl'scliption of Senicl'S Arka<lin Canada Inc- Conference Call on Oct 7,14. Inv #INCA141001094/W.Rostom Teranet- Inv#DEC9-DEC11114/JanineBOl
Total HST
Total
Invoice Number: Invoice Date:
231085 1100697
12131/2014
Amount 26.89
3.00
$29.89 3.89
$33.78
McMillan LLr 1 Brookfield Place. 181 Bay Street:. Suite 4400, Toronto. Ontario. Canada MSJ 2T3 1 t 416.865.7000 1 t 416.865.7048
L~Jwycrs 1 Patent & Tr;Jde-rnark Agents I Avocats J Agents de brevets c: de marques de commen::e
V.-mcouver I Calgary 1 Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
310
mcmillan
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our Fee Disbursements Subject to HST HST Total
Remittance Page
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
$ $
231085 1100697
1213112014 RJJ9428555 1210248273
47,969.00 29.89
6,239.86 CAD $ __ ......;.54...:,2;;;3...;;8.;.,. 7,;;..5
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 1 f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets er de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
311
mcmillan
Privileged and Confidential
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
For professional services rendered to March 31,2015.
Our Fee Disbursements Subject to HST HST Total
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
$ $
231085 1106044
0411412015 Rl19428555 1210248273
16,653.50 59.50
2,172.69 CAD $ __ ...;1;,;;.8,:.;;.88;;,;;5.;.;:.6.;;_9
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400. Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong l mcmillan.ca
312
Page2 Our File Number: Invoice Number:
Invoice Date:
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660.
Payment is due on receipt of this account. We reserve the right to charge interest as permitted by the applicable Provincial Statute.
Payment can be made by cheque, wire transfer or EDI. Wire transfer and EDI instructions:
Royal Bank of Canada Main Branch Toronto Royal Bank Plaza 200 Bay Street Toronto, Ontario M5J 2J7
NOTE: Please include our Invoice Number in the "Payments Detail" section of the wire transfer. Thank you.
This is our Account
McMillan LLP
W.M.Rostom
231085 1106044
0411412015
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400. Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
313
Page3 Our File Number: 231085 Invoice Number: 1106044
Invoice Date: 04/1412015
Summary of Fees and Hours
Name Hourly Rate Hours Amount
Jennifer Cockbill 550.00 13.20 7,260.00 Wael M. Rostom 800.00 7.60 6,080.00 Adam C. Maerov 675.00 3.90 2,632.50 James Munro 600.00 0.70 420.00 Stephen Eddy 435.00 0.60 261.00
Total 26.00 ~16,653.50
Summary of Disbursements
Descrintion of Services Amount
Cheque - Taxable 59.50 Total $59.50
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400. Toronto. Ontario. Canada M5J 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
314
Page4 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date
01106/15 01106115
01/12/15 01114/15
01114/15
01115/15
01119/15
01121115
01/23/15
01123/15
01126/15
01/28/15
01128115
02/04/15
Description of Services
Cockbill, Jennifer- Email to A. Collier. Rostom, Wael M. - Emails with J. Cockbill concerning Elora Option Agreement and draft of receiver's report. Cockbill, Jennifer- Exchange emails with A. Collier. Cockbill, Jennifer - Telephone call with A. Collier regarding Elora Royalty Interest and sale of Manitou Shares. Rostom, Wael M. -Monitoring email traffic between A. Belevan, F. Cuberos and A. Torres refunding issues. Cockbill, Jennifer - Review emails from A. Collier regarding Manitou share redemption and email to J. Munro regarding the same; email to W. Rostom; exchange further emails regarding share redemption issue. Rostom, Wael M.- Emails from P. Reynolds and A.
Rostom, Wael M.- Emails from A. Belevan and Columbian counsel. Cockbill, Jennifer- Telephone call with J. Munro regarding Manitou share sale. Munro, James- Review email from J. Cockbill regarding sale of shares to Manitou; consider--
and telephone call to J. Cockbill regarding same. Rostom, Wael M.- Email from C. Cadeana; emails from D. Beltran. Cockbill, Jennifer- Exchange emails with J. Munro
call with client regarding the same; email to A. Collier.
A. Collier with respect to same. Rostom, Wael M. - Emails from P. Buritica and P. Reynolds.
Hours
0.20 0.20
0.10 0.40
0.10
l.lO
0.10
0.20
0.20
0.40
0.10
0.20
0.30
0.20
231085 1106044
0411412015
Amount
110.00 160.00
55.00 220.00
80.00
605.00
80.00
160.00
110.00
240.00
80.00
110.00
180.00
160.00
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400. Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver J Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmi!lan.ca
315
Page5 Our File Number: 231085 Invoice Number: 1106044
Invoice Date: 0411412015
Account Details - Fees
Date Descriotion of Services Hours Amount
02/10/15 Rostom, Wael M.- Calls and emails with P. Reynolds 0.40 320.00 and A. Maerov.
02113/15 Eddy, Stephen- Review receiver application and power 0.60 261.00 of attorney documents, circulate to A Maerov re: issues in receivership.
02/13/15 Maerov, Adam C. - Review draft NDA; email 1.20 810.00 correspondence with P. Reynolds re same.
02/13/15 Rostom, Wael M.- Montioring email traffic from A. 0.30 240.00 Belevan, P. Reynolds and A. Maerov.
02/14/15 Maerov, Adam C.- Discuss NDA with P. Reynolds. 0.40 270.00 02117/15 Maerov, Adam C.- Discuss NDA with P. Reynolds; 1.30 877.50
review and comment on NDA. 02/18/15 Maerov, Adam C.- Discuss NDA with P. Reynolds and 0.50 337.50
Columbian counsel. 02/19/15 Maerov, Adam C.- Correspondence re execution of 0.30 202.50
NDA. 02/20/15 Maerov, Adam C.- Correspondence with P. Reynolds 0.20 135.00
re execution ofNDA. 03/04/15 Rostom, Wael M.- Monitoring emails from C. Cadena 0.10 80.00
and D. Beltran concerning communication from the Superintendencia.
03/05/15 Rostom, Wael M. - Em ails from D. Beltran and em ails 0.10 80.00 with P. Reynolds.
03/11/15 Rostom, Wael M.- Monitoring emails between A. 0.40 320.00 Belevan and D. Beltran (Philippi Prietocarrizosa).
03/14/15 Rostom, Wael M.- Review email and attachments from 0.20 160.00 A. Belevan re-
03/15/15 Rostom, Wael M.- Email exchanges between Receiver 0.10 80.00 andRMB.
03/16/15 Rostom, Wael M.- Call with P. Reynolds in advance of 1.10 880.00 call with RMB; call with RMB to discuss sale process.
03/16/15 Rostom, Wael M.- Monitoring emails between P. 0.20 160.00 Reynolds and A. Be levan.
03117115 Rostom, Wael M.- Call with Receiver and RMB 1.10 880.00 regarding sale process.
McMillan LLP I Brookfield Place, 181 Bay Street Suite 4400, Toronro. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f416.865.7048 Lawyers J Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
316
Page6 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date
03118/15
03/22115
03/23115
03/23/15
03/25/15 03/25115
03/26115 03/26115
03/26115
03/27115 03/27/15
03/27/15
03/29/15 03/29/15
03/30/15
Description of Services
Rostom, Wael M.- Call with P. Reynolds regarding sale process points to be considered by RMB; drafting list for review by P. Reynolds; emails with A. Bel evan. Rostom, Wael M.- Email from P. Reynolds providing update on call with Alvaro, R. Winters and A. Vogul. Cockbill, Jennifer- Telephone call with W. Rostom and review email from W. Rostom regarding SISP. Rostom, Wael M. - Call with R. Adlington and P. Reynolds to discuss sales process and next steps to prepare for seeking court approval and launch. Cockbill, Jennifer- Work on SISP. Rostom, Wael M. -Monitoring emails from RMB and
Cockbill, Jennifer- Work on SISP. Rostom, Wael M.- Emails and calls with D. Beltran and P. Reynolds concerning Shareholder meeting in Medellin. Rostom, Wael M.- Review Work Plan regarding receivership and sale process. Provide comments to R. Adlington ofKPMG. Cockbill, Jennifer- Work on SISP. Rostom, Wael M. -Email from D. Beltran and P. Reynolds concerning Minera Shareholder meeting. Rostom, Wael M.- Emails and calls with P. Reynolds
Cockbill, Jennifer- Work on SISP. Rostom, Wael M.- Emails with J. Cockbill and P. Reynolds. Cockbill, Jennifer - Conference call with KPMG and RMB; Further work on SISP; telephone call and emails exchange with W. Rostom; email exchanges with P. Reynolds.
Hours
0.70
0.10
0.50
0.50
1.00 0.10
1.00 0.30
0.40
1.00 0.10
0.30
2.00 0.20
5.50
231085 JJ06044
0411412015
Amount
560.00
80.00
275.00
400.00
550.00 80.00
550.00 240.00
320.00
550.00 80.00
240.00
1,100.00 160.00
3,025.00
Total
HST 26.00 $16,653.50
2,164.95
Total Fees and Taxes $18,818.45
McMillan LLP I Brookfield Place. 1 B 1 Bay Street. Suite 4400. Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
317
Page 7 Our File Number: Invoice Number:
Invoice Date:
Account Details • Disbursements
Disbursements Subject to HST
Description of Services Date 12/05/14 Arkadin Canada Inc· Conference Call on Dec 5,10,11, 2014.
Inv #INCA141201259/W.Rostom
Total HST
Total
231085 1106044
0411412015
Amount 59.50
$59.50 7.74
$67.24
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I f416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmi!lan.ca
318
mcmillan
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our Fee Disbursements Subject to HST HST Total
Remittance Page
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
$ $
231085 1106044
0411412015 Rll9428555 1210248273
16,653.50 59.50
2,172.69 CAD $ ___ 18...:.,8_8_5_.6_9
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400. Toronto, Ontario, Canada MSJ 213 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats J Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
319
mcmillan
Privileged and Confidential
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
For professional services rendered to April30, 2015.
Our Fee Disbursements Subject to HST HST Total
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
$ $
231085 1108620
05/2512015 RJ19428555 1210248273
32,543.00 47.95
4,236.82 CAD $ __ ....;;_36;.:.,8;.;;2;_7;_.7_7
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400, Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmil!an.ca
320
Page2 Our File Number: Invoice Number:
Invoice Date:
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660.
Payment is due on receipt ofthis account. We reserve the right to charge interest as permitted by the applicable Provincial Statute.
231085 1108620
0512512015
Payment can be made by cheque, wire transfer or ED!. Wire transfer and ED! instructions:
Royal Bank of Canada Main Branch Toronto Royal Bank Plaza 200 Bay Street Toronto, Ontario M5J 217
NOTE: Please include our Invoice Number in the "Payments Detail" section of the wire transfer. Thank you.
This is our Account
McMillan LLP
W.M.Rostom
McMillan LLP ! Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade·mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
321
Page]
Summary of Fees and Hours
Name
Jennifer Cockbill Wael M. Rostom Stephen Brown-Okruhlik Andrew J.F. Kent R. Mirdawi
Summary of Disbursements
Description of Services
Long Distance Telephone Calls Photocopy Searches
Hourly Rate
550.00 800.00 380.00 950.00 250.00
Total
Total
Our File Number: Invoice Number:
Invoice Date:
Hours
31.70 12.60 9.10 1.60 0.20
55.20
231085 l/08620
0512512015
Amount
17,435.00 10,080.00 3,458.00 1,520.00
50.00
~32,543.00
Amount
6.70 2.25
39.00 $47.95
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 J t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents J Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary J Toronto l Ottawa l Montreal I Hong Kong ! mcmillan.ca
322
Page4 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Descri(!tion of Services Hours
04/01/15 Rostom, Wael M.- Email from A. Belevan concerning 0.10 measure of control and reply from David Beltran.
04/01/15 Rostom, Wael M. - Emails between David Beltran of 0.10 PPU and Catalina Cadena regarding--04/06/15 Cockbiii, Jennifer- Exchange emails with W. Rostom; 1.50 exchange emails with P. Reynolds; review letter-
04/06/15 Rostom, Wael M. -Email from A. Belevan regarding 0.70
review letter and consider next steps; email to P. Reynolds.
04/06/15 Rostom, Wael M. - Emails with KPMG and J. Cockbiii 0.20 scheduling call to discuss draft Sale and Investor Solicitation Process.
04/07/15 Cockbiii, Jennifer - Call with w. Rostom regarding SISP; 3.00 revisions to SISP; email toP. Reynolds; review emails
04/07/15 Kent, Andrew J.F.- Review letter; discussions with W. 1.30 Rostom
04/07/15 Rostom, Wael M.- Call with J. Cockbiii regarding 0.40 Seafield matter and preparation for motion to approve sale process and
04/07/15 Rostom, Wael M. -Call with P. Reynolds regarding 0.40
04/07/15 Rostom, Wael M.- Email from A. Belevan concerning 0.20 emails with P. Reynolds to
arrange time for call with RMB. 04/07/15 Rostom, Wael M. - Email from R. Vigil requesting 1.80
information call with P. Reynolds - responding to information request from RMB.
04/07/15 Rostom, Wael M. -Providing extensive mark-up of draft 1.20 SISP and instructions to J. Cockbill.
04/07115 Rostom, Wael M.- Review H. Hernandez responses to 0.40 Minera questions and actions; posing follow-up questions.
231085 1108620
0512512015
Amount
80.00
80.00
825.00
560.00
160.00
1,650.00
1,235.00
320.00
320.00
160.00
1,440.00
960.00
320.00
McMillan LLP I Brookfield Place, 181 BayStreer. Suite 4400, Toronto, Ontario, Canada MSJ 2T3 J t 416.865.7000 I f416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats J Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
323
PageS Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Descri~tion of Services Hours
04/08/15 Cockbill, Jennifer- Review various emails from W. 0.20 Rostom, RMB, and Colombian counsel.
04/08/15 Rostom, Wael M.- Call with Receiver and RMB 0.50 and next steps.
04/08115 Rostom, Wael M.- Discussions with P. Reynolds and 0.70 PPU regarding seeking legal advice from PPU and discussing next steps.
04/09115 Cockbill, Jennifer- Review various emails; review and 2.10 organize documents in file regarding history/chronology of Colombian proceedings on behalf of receiver; email to Colombian counsel.
04/09115 Kent, Andrew J.F.- Emails regarding draft Seafield 0.30 response.
04/09/15 Rostom, Wael M.- Discussions with Receiver 0.40 concerning motion to approve sale process; instructions to J. Cockbill.
04/09/15 Rostom, Wael M.- Review answers from PPU- F. 0.20 Cuberos regarding
to discuss. 04/09/15 Rostom, Wael M.- 1.50
- emails and call with P. Reynolds to discuss RMB response; words with A. Kent regarding RMB letter; correspondence with RMB regarding Receiver's view on RBM response and providing comments.
04/13/15 Cockbill, Jennifer- Conference call with W. Rostom, P. 1.00 Reynolds and Colombian counsel; exchange emails with· A. Collier and R. Adlington.
04113115 Rostom, Wael M.- Emails concerning preparation of 0.20 materials to approve Seafield sale process.
04/14/15 Cockbill, Jennifer- Exchange emails with client and 0.30 Colombian counsel; exchange emails with W. Rostom.
04115115 Rostom, Wael M.- Meeting with KPMG to discus. 1.00 -04/16115 Cockbill, Jennifer- Exchange emails with W. Rostom; 1.00 review and comment on draft Receiver's report.
04/17/15 Cockbill, Jennifer- Call with W. Rostom. 0.20
231085 1108620
05/2512015
Amount
110.00
400.00
560.00
1,155.00
285.00
320.00
160.00
1,200.00
550.00
160.00
165.00
800.00
550.00
110.00
McMillan LLP 1 Brookfield Place, 181 Bay Street, Suite 4400. Toronto. Ontario. Canada MSJ 2T3 1 t 416.865.7000 I f 416.865.7048 lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreat I Hong Kong 1 mcmillan.ca
324
Page6 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date DescriJ!tion of Services Hours
04117/15 Rostom, Wael M.- Providing extensive mark-up of 2.10 KPMG draft Receiver's report; call with P. Reynolds; call with J. Cockbill regarding same.
04/20/15 Cockbill, Jennifer- Review emails from P. Reynolds and 2.80 A. Collier; call with W. Rostom; revise draft Receiver's report; email to KPMG group; exchange further emails with group.
04/21/15 Cockbill, Jennifer- Exchange emails with McMillan and 5.80 KPMG group; exchange emails with W. Rostom; exchange emails with D. Beltran; email to RMB group; exchange emails with R. Mirdawi; conference call with KPMG; further revise Receiver's report.
04/21/15 Mirdawi, R. - Receipt of email from J. Cock bill re: status 0.20 of Form I filed; review of corporate records and requesting corporate profile report; attending to the filing of the Form I Notice of Change; email to her forwarding same as requested.
04/22/15 Brown-Okruhlik Stephen- Phone call with J. Cockbill re 0.40 upcoming SISP application.
04/22/15 Cockbill, Jennifer- Exchange emails with R. Adlington 2.30 and A. Collier; exchange emails with W. Rostom; teleconference with KPMG and Colombian Counsel; email to W. Rostom; exchange further emails with R. Adlington; telephone call with R. Adlington; exchange emails with A. Collier; exchange emails with R. Adlington, P. Reynolds and W. Rostom resale process letter; telephone call with S. Bown-Okruhlik; email to S. Bown-Okruhlik.
04/23/15 Cockbill, Jennifer - Call with A. Collier; call with R. 0.40 Adlington; exchange emails with Colombian Counsel.
04/24/15 Brown-Okruhlik Stephen - Reviewing material in matter 1.70 space; locating precedent documents; drafting application material.
04/24/15 Cockbill, Jennifer -Review and comment on further draft 2.40 receiver's report and appendix; exchange emails with R. Adlington; exchange em ails with W. Rostom; telephone call with W. Rostom.
231085 1108620
0512512015
Amount
1,680.00
1,540.00
3,190.00
50.00
152.00
1,265.00
220.00
646.00
1,320.00
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I f416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
325
Page 7 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Descriotion of Services Hours
04/24/15 Rostom, Wael M.- Monitoring emails between Receiver 0.50 and RMB; review revised draft of Receiver's report; instructions to J. Cockbill.
04/26/15 Brown-Okruhlik Stephen - Drafting motion materials for 2.10 SISP application.
04/27/15 Brown-Okruhlik Stephen - Drafting application materials; 4.70
04/27/15 Cockbill, Jennifer- Review further markups of receiver's 4.70 report; emails to client; work on non-disclosure and confidentiality agreement; exchange emails with W. Rostom; exchange emails with S. Brown-Okruhlik.
04/28/15 Brown-Okruhlik Stephen- Phone call with J. Cockbill re 0.20 application material.
04/28/15 Cockbill, Jennifer- Telephone call with and emails to S. 0.30 Brown-Okruhlik regarding application materials.
04/29/15 Cockbill, Jennifer- Prepare for conference call with 2.70 KPMG and RMB; attend conference call; review draft teaser document; exchange emails with R. Adlington.
04/30/15 Cockbill, Jennifer - Review and provide comments on 1.00 Teaser letter; email to R. Adlington and A. Collier.
Total 55.20 HST
Total Fees and Taxes
231085 1108620
05/25/2015
Amount
400.00
798.00
1,786.00
2,585.00
76.00
165.00
1,485.00
550.00
$32,543.00 4,230.59
$36,773.59
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400. Toronto, Ontario, Canada MSJ 2T3 l t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets er de marques de commerce Vancouver l Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
326
Page8
Account Details - Disbursements
Disbursements Subject to HST
Date Description of Services 04/27115 Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. 04/27/15 Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. 04/27/15 Oncorp Direct Inc. - SEAFIELD RESOURCES LTD. 04/27/15 Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. 04/27115 Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
Long Distance Telephone Calls Photocopy
Total HST
Total
Our File Number: Invoice Number:
Invoice Date:
231085 1108620
0512512015
Amount 8.00 8.00 8.00 7.00 8.00 6.70 2.25
$47.95 6.23
$54.18
McMillan LLP I Brookfield Place, 181 Bay Street Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers 1 Patent & Trade-mark Agents I Avocats t Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa J Montreal I Hong Kong I mcmillan.ca
327
mcmillan
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our Fee Disbursements Subject to HST HST
Total
Remittance Page
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
$ $
231085 1108620
0512512015 RJJ9428555 1210248273
32,543.00 47.95
4,236.82 CAD $ __ .....;;.36;;.;.,8;;.;2;.;.7;.;..7.;...7
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400. Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats J Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreat I Hong Kong I mcmillan.ca
328
mcmrllan
Privileged and Confidential
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
231085 1110903
0613012015 R/19428555 1210248273
For professional services rendered to May 31,2015.
Our Fee Disbursements Subject to HST HST Total
$ $
62,065.50 903.34
8,185.95 CAD $ 71,154.79
==~=
M(Mi!lan ur I Brookfield Place. 181 Bay Street. Suite 4400. ·raronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 l f 416.865.7048 Lawyers I Patent & 1rade·mark Agents 1 Avocats I Agents cle brE-vets et de marques (1e commerce
Var11;ouver I C<:ilga1y I To10nto I Onawa I Monrrea! I Hong Kong I mcmillan.ca
329
Pagel Our File Number: Invoice Number:
Invoice Date:
231085 11/0903
06/30/2015
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660.
Payment is due on receipt of this account. We reserve the right to charge interest as permitted by the applicable Provincial Statute.
Payment can be made by cheque, wire transfer or ED I. Wire transfer and ED! instructions:
Royal Bank of Canada Main Branch Toronto Royal Bank Plaza 200 Bay Street Toronto, Ontario M5J 2J7
NOTE: Please include our Invoice Number in the "Payments Detail" section of the wire transfer. Thank you.
This is our Account
McMillan LLr I 1:3rookfielcl Place, 181 Bay Street, Suite 4400. Toronto. Ontario. Cclll<lCia MSJ 2T3 I t 416.865.7000 I f 416.865./048 Lilvvyers I Patent & Tracfe·m~1ri<Agcnts I Avoc.:m I Agents de brevets et de nwrqLICS de commerce
Vancouver I Calg,:uy I roronto I Ottawa I tvlontrear I Hong Kong I mcmil!an.ca
330
Page3
Summary of Fees and Hours
Name Wael M. Rostom Stephen Brown-Okruhlik Jennifer Cockbill Brett Harrison Mudasir Marfatia Samantha Gordon S.M. Whyte B. Mcintyre A. Ly N. Chaves M. Singleton
Summarv of Disbursements
Description of Services
Courier Filing Fees
Total
Long Distance Telephone Calls Photocopy Searches
Total
Our File Number: Invoice Number:
Invoice Date:
Houri~ Rate Hours 800.00 31.90 380.00 54.60 550.00 21.00 700.00 2.30 250.00 3.80 250.00 3.70 275.00 0.90 225.00 0.80 300.00 0.50 250.00 0.50 200.00 0.30
120.30
231085 1110903
06/30/2015
Amount 25,520.00 20,748.00 11,550.00
1,610.00 950.00 925.00 247.50 180.00 150.00 125.00 60.00
$62.065.50
Amount
9.00 274.00
17.34 130.00 473.00
$903.34
McMillan LU" I Brookfield Place. 181 Bay Street. Suite 4400, Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.86!:1./048
Lawyers I P~itent & Tr._,de-mark. Agents I Avocms I Agents de brc·vr.::ts ~~t de marques de commerce
vancouver I Calgary I Toronto I Ottawa I Montreul I Hong Kong 1 mc:rnillan.ca
331
Page4 Our File Number: Invoice Number:
Invoice Date:
Account Details- Fees
Date Description of Services Hours
05/01/15 Brown-Okruhlik Stephen- Drafting notice of motion, 6.50 factum and draft orders.
05/01/15 Chaves, N.- Telephone call with Commercial List 0.50 Court regarding bringing an application in an existing receivership matter; communications with S. Brown-Okruhlik re same.
05/01/15 Cockbill, Jennifer- Exchange emails with W. 3.00 Rostom; telephone call with W. Rostom; telephone calls with S. Brown-Okruhlik; email to KPMG with update on court approval preparation; revise SISP; revise process letter.
05/02/15 Cockbill, Jennifer- Review draft SISP motion and 2.00 factum; exchange emails with S. Brown-Okruhlik.
05/03115 Brown-Okruhlik Stephen- Revising motion material 4.40 to reflect comments of J. Cockbill; locating precedents and case law to support SISP approval.
05/04/15 Brown-Okruhlik Stephen- Revising motion 5.50 materials; phone call with W. Rostom and J. Cockbill re same; obtaining PPSA and land title searches; adding various forms of relief to the Notice of Motion and Draft Order; arranging for creation of a service list; correspondence with Court re need for a Notice of student to find
to re consent to motion draftir1g Notice of Appearance.
05/04/15 Cockbill, Jennifer- Review and exchange various 5.00 emails; teleconference with W. Rostom and S. Brown-Okruhlik; revise receiver's report; further review motion and order; various emails to client.
05/04/15 Ly, A.- Review and respond to email from S. 0.50 Brown-Okruhik re: PPSA searches and assistance with transaction; conduct PPSA searches; review and forward PPSA search results to S. Brown Okruhik.
231085 1110903
06/3012015
Amount
2,470.00
125.00
1,650.00
1,100.00
1,672.00
2,090.00
2,750.00
150.00
McMillan LLf' I 8rookfielcl Place. 181 l::lay Street Suite 4400. Toronro. Ontario. Canacla MSJ 2B I t 416.865.7000 I f 416.86~./043 L.:1wyers ! P'-ltent & Tr~1de·mmk Agents I Avocars I Agents de brevets et de m~1rques de commcrc(' V.<:tncouver I Ca1ga1y I raronto I Otrawa I MontrC~tl I Hong Kong I mcmillan.ca
332
Page5 Our File Number: Invoice Number:
Invoice Date:
Account Details -Fees
Date
05/04/15
Descrintion of Services
download relevant documents and send to S. Brown-Okruhlik for review.
05/04/15 Mcintyre, B. - Update 14 parcel abstracts; email correspondence.
05/04/15 Rostom, Wael M.- Attending on calls with J. Cockbill and S. Brown-Okruhlik regarding Receiver's draft First Report, notice of motion, draft order and draft factum.
05/04/15 Rostom, Wael M.- Emails with R. Adlington. 05/04/15 Rostom, Wael M.- Review draft notice of motion,
order and factum concerning sale process approval order and other related requested relief; review current draft of Receivership Order; emails with J. Cockbill and S. Brown-Okmhlik.
05/04/15 Whyte, S.M.- Receipt and review of email from S. Brown-Okruhlik re service list for Seafield Resomces Ltd.; review ofPPSA and PIN searches for same; phone call with S. Brown-Okruhlik re same; phone call with B. Mcintyre re same; prepare service list; email to S. Brown-Okruhlik; emails from and to S. Brown-Okruhlik re same.
05/05115 Brown-Okruhlik Stephen- Booking motion; serving and filing notice of appearance; email to R. Adlington re service list; updating draft order to reflect comments ofW. Rostom; research
M. Marfatia re reviewing "'"· '"'~u
upda1ted servic:e list; seeking instmctions from W. Rostom and J. Cockbill re SISP section offactum; revising factwn.
Hours
2.50
0.80
1.30
0.20 3.00
0.50
5.70
231085 I 110903
06/30!2015
AmQunt
625.00
180.00
1,040.00
160.00 2,400.00
137.50
2,166.00
McMillan LLr ! 1:3rookfield Place, 181 B~1y Street. Suite 4400. Toronto. Ontario, CanacJa MSJ 213 I t 416.865.7000 I f 416.86~./048
Lawyers I l)mcnt & Tradc·mark Agents I Avocats I Agents de t)revets ct de marques de commcrc(· Vcmcouver I Calgary I Toronto l Ott~1wa I Montreal I Hong Kong I mcmill.Jn.ca
333
Page6 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Descri(!tion of Services
05/05/15 Cockbill, Jennifer- Review and exchange various emails with KPMG, Colombian counsel, and W. Rostom; final review and edit of SISP; telephone call with M. Konyukhova; exchange emails with R. Adlington and W. Rostom; telephone call with W. Rostom; Exchange emails with S. Brown-Okruhlik regarding service of motion materials.
05/05115 Marfatia, Mudasir - Locate motion material for S. search
05/05/15 regarding court report.
05/05/15 Rostom, Wael M. - Emails with J. Cockbill and S. Brown-Okruhlik regarding service list and court date.
05/05/15 Rostom, Wael M. - Review further revised drafts of Receiver's First Report, draft Order and draft Notice of Motion; calls with S. Brown-Okruhilik and R. Adlington regarding related matters; emails from/with J. Cockbill regarding related matters.
05/05/15 Whyte, S.M. - Review of certified PPSA search for Seafield Resources Ltd.; update service list and circulate copy of same to S. Brown-Okruhlik.
05/06/15 Brown-Okruhlik Stephen- Drafting factum; correspondence with court re booking motion date.
05/06/15 Cockbill, Jennifer- Review and exchange various erhails with client and S. Brown-Okruhlik; final review of Receiver's report; telephone caJI with R. Adlington; exchange emails with A. Taylor.
05/06/15 Rostom, Wael M. -Review edits to Receiver's report, draft order and notice · emails with A.
05/06115 Singleton, M.- Obtain preliminary name searches and two corporate profile reports; review, profile and email to S.Brown -0 kruhlik.
Hours
1.90
1.30
0.10
0.30
3.00
0.40
3.50
1.10
0.80
0.30
231085 1110903
0613012015
Amount
1,045.00
325.00
80.00
240.00
2,400.00
110.00
1,330.00
605.00
640.00
60.00
McMillan ur I Brookfiekl Place. 181 !:lay Stleet, Suite 4400, Toronto, Onte:~rio, Cmdcla MSJ 2T3 I t 416.865.7000 I f 416.865.7048 L,w .. ,yers I Patent & Trade-mark Agents I AvoGm I Agents de brevets et de marques de commerce V~mcouwr I carga1y I Toronto I Ottawa I Montreal I Hong Kong l mcmillan.ca
334
Page 7 Our File Number: Invoice Number:
Invoice Date:
Account Details - Fees
Date Description of Services Hours
05/07/15 Brown-Okruhlik Stephen- Meeting with W. Rostom 6.00
05/07/15
05/07/15
05/07/15
05/07115
05/07/15
05/08/15
05/08/15
05/10/15
05110115
re revising and finishing factum; revising motion material to reflect changes to First
corres:portde11ce with Court; phone call with ~~~research to M.
Cockbill, Jennifer - Review and exchange emails with W. Rostom and S. Brown-Okruhlik regarding finalizing court materials and receiver's report; review email exchanges regarding !!!I Harrison, Brett- Email from W. Rostom Re
emails to/from W. Rostom and Receiver Re same. Rostom, Wael M. - Emails from A. Be!evan
emails san1e.
Rostom, Wae[ M. - Emails with A. Belevan regarding receivership motion; call with A. Taylor regarding D. Prins Jetter and disclosure to the judge; discussion with S. Brown-Orkruhlik concerning motion materials and factum. Rostom, Wae[ M.- Emails with counsel for RMB
emails with instructions to S. Brown-Okmhlik regarding court materials; review revised drafts. Brown-Okruhlik order to remove
Rostom, Wael M. - Emails with R. Adlington and S. Brown-Okruhlick finalizing Receiver's report and court documents for service. Brown-Okruhlik Stephen - Emails to J. Cock bill re service list and motion material. Brown-Okruhlik Stephen - Emails to J. Cockbill re service list and motion materials.
0.50
• 0.10
0.80
0.80
0.80
0.20
0.30
0.30
231085 1110903
06/30/2015
Amount
2,280.00
275.00
-80.00
640.00
640.00
304.00
160.00
114.00
114.00
Mr.Mit!i.m LLr I I::Jroof:field P!ac~. 181 Bay Street. Suite 4400, Toronto. Ontario, Canacla MSJ 2T3 I t 416.865.7000 I f 416.865.1048
Lawyers I Patent & lrCK1e-mmk Agents I Avocats I Agents etc brevets et de milrques de cornmercr:· Vancouver I Calgary I Toronto I Ottawa I Montrl:~ll I Hong Kong I mcmiiiJn.ca
335
Page8 Our File Number: 231085 Invoice Number: 1110903
Invoice Date: 06/30/20/5
Account Details- Fees
Date Descrintion of Services Hours Amount
05/10115 Cockbill, Jennifer- Exchange emails with S. 0.20 110.00 Brown-Okruhlik regarding service of application materials.
05/11/15 Brown-Okruhlik Stephen - Reviewing changes to 5.40 2,052.00 Motion Record; correspondence with client re service and filing of motion material; overseeing pagination and printing of motion record; serving motion record and notice of motion; research re to S. Gordon; rev1smg factum to reflect comments of J. Cockbill and add section re Receiver's Borrowings Charge.
05/11115 Cockbill, Jennifer- Review draft factum and provide 1.10 605.00 comments to S. Brown-Okruhlik; exchange emails with S. Brown Okruhlik re factum and service matters; exchange emails with A. Collier.
05112/15 Brown-Okruhlik Stephen - Final revisions to factum 2.50 950.00 to reflect comment of W. Rostom and KPMG; serving and filing motion materials.
05/12/15 Cockbill, Jennifer- Exchange emails with S. 0.20 110.00 Brown-Okmhlik; final review of factum.
05/12/15 Rostom, Wael M. -Reviewing and commenting on 1.20 960.00 Factum in support of May 19th Motion.
05/13/15 Brown-Okruhlik research to S. 0.40 152.00
05/l3115 Cockbill, Jennifer- Discussion with W. Rostom; 0.30 165.00 review emails from client.
05/13/15 Gordon, Samantha - Receive instructions from S. 1.00 250.00 Brown-Okruhlik; research ~or S. Brown-Okruhlik.
05/13/15 Rostom, Wael M.- Calls with KPMG regarding SISP 0.50 400.00 approval motion.
05/13/15 Rostom, Wael M. - Review drafts ofNDA, teaser and l.IO 880.00 SISP and preparing comments.
05/14/15 Brown-Okmhlik Stephen - Preparing for motion; 2.10 798.00 meeting with W. Rostom re motion.
McMi!!an LLP I Brookfield Pl~ce. 181 B~y Street. Suite 4400, ·toronto, Ontario. Canada MSJ 21"3 I t 416.865.7000 I f 416.86!:!.7048
L~1wyers I P;;uent & Trclde-mark Agents I Avocats I Agents cle brevets et de marqLies <le commerce
Vancouver I Calgary I lOr onto I Ouavva I Montn0~ll I Hong Kong I mcmillan.ca
336
Page9 Our File Number: Invoice Number:
lnvoice Date:
Account Details - Fees
Date Description of Services
05/14/15 Cockbill, Jennifer- Exchange emai1s with W. Rostom; telephone call with W. Rostom; work on revisions to NDA, process letter and teaser document; telephone calls with R. Adlington; further call with W. Rostom; exchange emails with A. Collier; review confidential information memorandum.
05/14/15 Gordon, Samantha - Research ~or S. Brown-Okruhlik; meet Brown-Okruhlik to discuss the research.
05/14/15 Rostom, Wael M. - Call with J. Cockbill to discuss comments on NDA, teaser letter and CIM.
05/14/15 Rostom, Wael M. - Emails with A. Taylor regarding potential edits to Order. Call with P. Reynolds.
05114/15 Rostom, Wael M. -Meeting with S. Brown-Okrulik regarding Tuesday's motion.
05/15/15 Brown-Okruhlik -reviewing
correspondence and phone call with W. Rostom re same.
05/15/15 Cockbill, Jennifer- Review various emails from W. Rostom and S. Brown-Okruhlik regarding-
Further revisions to the CIM; email to W. Rostom; review emails from W. Rostom; telephone call with R. Adlington.
05115/15 Harrison, Brett - Meeting with S. motion; receipt and and calls fi:om/to S.
05/15/15 Rostom, Wael M. -consider next steps; calls with Brown Okrulhik to discuss' preparing - calls with Stikemans regarding motion and next steps.
05/16/15 Wael M.- Further email from
05117/15 Cockbill, Jennifer- Revise draft supplemental Receiver's report.
Hours
3.50
2.70
0.70
0.50
0.50
1.50
0.80
0.60
4.50
0.60
0.40
231085 1110903
06/3012015
Amount
1,925.00
675.00
560.00
400.00
400.00
570.00
440.00
420.00
3,600.00
480.00
220.00
McMillan LLr' I Brookfiekl Place. 181 Bay Street, Suite 4400. Toronto, Ontario. C~~nada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
UtV':yers I l~atem & 1r<:1t1e-mark Agents I Avocats I Agents de tm~vets et de marques de commerce
Vancouver I Calg<uy I Toronto I Ottawa I MQntn:~~ll I Hong Kong I mcmillan.G:t
337
Page 10 Our File Number: 231085 Invoice Number: 1110903
Invoice Date: 06/3012015
Account Details- Fees
Date Descri11tion of Services Hours Amount
05/18/15 Cockbill, Jennifer- Review emails from W. Rostom, 0.50 275.00 S. Brown-Okruhlik and client; serve supplemental report.
05/18/15 Harrison, Brett - Emails from/to S. Brown Re May 19 0.80 560.00 motion; call from W. Rostom Re same.
05/18/15 Rostom, Wael M.- Preparing for argument and 3.50 2,800.00 submissions at SISP approval motion; call with B. Harrison and call with P. Reynolds.
05/19/15 Brown-Okruhlik Stephen - Preparing for motion; 5.50 2,090.00 attending court; revising SIPS and draft order to address Justice Wilton-Siegel's concerns; meeting with W. Rostom re same.
05/19/15 Harrison, Brett - Emails from/to S. Brown Re 0.30 210.00 hearing; emails from/to W. Rostom Re same.
05/19/15 Rostom, Wael M. -Preparing for and attending at 6.10 4,880.00 comi; revising SISP and draft approval order to address Justice concerns; discuss
settle revised and KPMG
regarding launch of SISP. 05/20/15 Brown-Okruhlik Stephen - Preparing for and 4.20 1,596.00
attending court; serving Order of Justice Wilton-Siegel; correspondence with KPMG re posting motion material on website.
05/21/15 Cock bill, Jennifer - Review draft newspaper ad. 0.30 165.00 05/21/15 Rostom, Wael M. -Finalizing CIM and teaser; 1.00 800.00
discussions with J. Cockbill and R. Adlington. 05/22/15 Rostom, Wael M.- Emails from Minera regarding 0.60 480.00
emails with Cuberos.
05/23/15 Rostom, Wael M. - Emails with P. Reynolds and 0.40 320.00
05/25/15 0.10 80.00
05/29/15 Cockbill, Jeru1ifer 0.20 110.00 Adlington; email to W. Rostom.
Total 120.30 $62,065.50
McMillan LLP I Brookfield JJJace, 181 Bay Street, Suite 4400, Toronto. Ontario. Canacla MSJ 2T3 I t 416.865.7000 I f 416.865.1048
Lawyers I Parent & rrar:lc·mar 1< Agents I Avocats I Agents de brevets et de mar"C]Lif.:S de commerce Vc.mcouv.~r I CaJg.my I Toronto I Ottawa I MontrCo!l I Hong Kong I mcmillan.ca
338
Page II
HST
Total Fees and Taxes
Our File Number: Invoice Number:
Invoice Date:
231085 1110903
06/30/2015
8,068.52 $70,134.02
rvllMill~m LLr I Brookfielr1 Place. 181 Bay Street, Suite 4400, Toronro. Ontario. c~1nacla MSJ 2T3 I t 416.86~.7000 I f 416.865.7048
L.:.1wyers I Patent & lr;Jr.le·mark Agents I Avocan. I Agents tie brevets et de m<Jrques de commerce Yaucouver I Calgary I lbronto I Ottawa I Montredl I Hong Kong I rncmillan.ca
339
Page/2 Our File Number: Invoice Number:
Invoice Date:
Account Details - Disbursements
Disbursements Subject to HST Date 05/04/15
05/04/15
05105115
05/08/15
05109115 05/11115
05111115 05/11115 05/11115 05/11115 05/11115 05/11/15 05/11/15 05/11115 05/11115 05/11115 05111115 05/11/15
Description of Services Teranet- Inv# MAY 4-MA Y5/15 bmcintyr Teranet- Inv# MAY4-MAY5/15 bmcintyr Minister of Finance- Inv# 5.5.15.11.17/ Stephen Brown-Okruhlik Filing Fee- Notice of Appearance Borg Process Servers Inc. -Rush Filing- Notice of Appearance. Inv #265953/S.Brown-Okruhlik Blizzard Courier Service Ltd. - #7302832/'"'/222 Bay St Minister of Finance- Inv# 11.5.15.3.23/ Stephen Brown-Okruhlik Filing fee for Motion Record ret. May 19,2015 Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. Oncorp Direct Inc. -ELORA GOLD MINES Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. Oncorp Direct Inc. - SEAFIELD RESOURCES LTD. Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. Oncorp Direct Inc. -ELORA GOLD MINES Oncorp Direct Inc. -ELORA GOLD MINES Oncorp Direct Inc. -ELORA GOLD MINES Oncorp Direct Inc. - SEAFIELD RESOURCES LTD. Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. Oncorp Direct Inc. - SEAFIELD RESOURCES LTD. Long Distance Telephone Calls Photocopy
Total HST
Total
231085 1110903
0613012015
Amount 112.00
280.00
102.00
45.00
9.00 127.00
5.00 8.00 3.00 5.00 8.00 5.00 3.00 5.00
15.00 8.00 8.00 8.00
17.34 130.00
$903.34 117.43
$1,020.77
McMitl<.in Ltr I Brookfidcl PkKe, 181 Bdy Street, Suite 4400. ·roronto. Ontario, Ci:ln~icla MSJ 2l3 J 1416.86~.7000 I f 416.865.1048
Lawyers I Patent & TrarJe·mark Agents I Avocats I Agent~ de brevets et cte nwrqt1es de commercC'
Vancouver I Calgary I roronto I Ouaw~l I MonrrC~ll I Hong Kong I mcrnillan.ca
340
mcmtllan
KPMGLLP 3 3 3 Bay Street Suite4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our Fee Disbursements Subject to HST HST Total
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
Remittance Page
$ $
231085 ll/0903
06130/2015 Rl/9428555 1210248273
62,065.50 903.34
8,185.95 CAD $ 71,154.79
==~=
McMillan LLP I Brookfield Place, !81 Bay Street. Suite 4400, Toronto. Ontario. Canacl~'l MSJ 21"3 I t 416.865.7000 I f 416.865.7048
L~1wyers I Pdtcnt & Tradc-rnark Agents I Avoc.:1ts I Agents cle brevets et de marques de commerce
Vantouvcr I Calga1y I lor onto I Ottawa I Montreal I Hong t<ong l mcmill.:.m.ca
341
mcmtllan
Privileged and Confidential
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
231085 /1/1123
06/30/2015 RI/9428555 1210248273
For professional services rendered to June 30,2015.
Our Fee Disbursements Subject to HST HST Total
$ $
9,934.00 62.50
1,299.55 CAD $ 11,296.05
==~=
McMillan LLr I BrookfielrJ Place. 181 Bay Street. Suite 4400. Toronto, Ontorio. C;:1nacla MSJ 2B I t 416.805.7000 I F 416.865.7049
Lo.1wyers I Patent & TrMc-mark /\gems I Avocats I Agents de bre-vets et de marques de cornmerce Vancouver I Ca!g~uy I Toronto I Ottawa I MontrCcll I Hong Kong I mcmillan.ca
342
Pagel Our File Number: Invoice Number:
Invoice Date:
231085 1111123
06/30/2015
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660.
Payment is due on receipt of this account. We reserve the right to charge interest as permitted by the applicable Provincial Statute.
Payment can be made by cheque, wire transfer or ED I. Wire transfer and EDI instructions:
Royal Bank of Canada Main Branch Toronto Royal Bank Plaza 200 Bay Street Toronto, Ontario M5J 2J7
NOTE: Please include our Invoice Number in the "Payments Detail" section oft!te wire transfer. Thank you.
This is our Account
McMillanLI~
W.M.Rostom
McMillan LLr I Brookfit'ld Ploce. 181 B.:1y Street. Sui[{! 4400. Toronto, Ontario. Canacla MSJ 2T3 I t 416.865.7000 I f 416.86~./048
L:.1wycrs I Patent & Trade·m<~rk Agents I Avocats l Agents de tm:vets ~~t de marques de commerce Vancouver I CaJg.o11y I Toromo I Onawa l Montreal I Hong Kong 1 mcmillan.ca
343
Page3
Summary of Fees and Hours
Name Jennifer Cockbill Wael M. Rostom Andrew Stirling Kaitlyn Meyer Dave J.G. McKechnie Stephen Brown-Okruhlik
Summary of Disbursements
Description of Services
Photocopy Process Service
Total
Total
Our File Number: Invoice Number:
Invoice Date:
HourlJ! Rate Hours 550.00 9.30 800.00 2.70 525.00 1.80 400.00 1.80 575.00 1.20 380.00 0.80
17.60
231085 1111123
06/30/2015
Amount 5,115.00 2,160.00
945.00 720.00 690.00 304.00
$9.934.00
Amount
17.50 45.00
$62.50
McMillan LLP I Brookfielcl Place. 181 Bc1y Street. Suite 4400, Toronto, Ontario. C.;macla MSJ 2T3 I t 416.865.7000 I f 416.865.7048
lawyers I Patent & Tr~lde·mark Agents I Avocats I Agents de tm~vets ct de marques de commerce Vancouver I Calgary I roronto I Ottawa I Montreal I Hong Kong J mcmiiiCln.ca
344
Page4 Our File Number: Invoice Number:
Invoice Date:
Account Details -Fees
Date Description of Services Hours
06/01/15 Cockbill, Jennifer- Telephone call with W. Rostom; 0.60 telephone call with R. Adlington; email to D. McKechnie.
06/01/15 Rostom, Wael M. -Call with P. Reynolds. 0.10 06/02/15 Cockbill, Jennifer- Review emails from D. 0.50
McKechnie and A. Stirling regarding consulting agreement; exchange emails with R. Adlington.
06/02/15 McKechnie, Dave J.G. -Email to J. Cockbill 0.20 regarding form of contractor agreement.
06/02/15 Stirling, Andrew- Reviewing email from D. 1.10 McKechnie and J. Cockbill re: contractor source withholding; emai!ing description of obligations re: same; providing revised contractual terms re: same.
06/03/15 Cockbill, Jennifer- Review emails from R. 1.00 Adlington; Review and mark-up Brazil NDA; email to W. Rostom.
06/04/15 Cockbill, Jennifer- Work on consulting agreement; 1.40 exchange emails with R. Adlington; teleconference with R. Adlington, P. Reynolds, and A. Stirling; telephone call with W. Rostom; instructions to K. Meyer; review draft agreement from K. Meyer; emails to D. McKechnie.
06/04/15 Meyer, Kaitlyn- Review and revise draft independent 1.80 contractor agreement.
06/04/15 Stirling, Andrew - Conference call with J. Cockbill 0.30 and KPMG re: non-resident withholding tax; reviewing documentation re: same.
06105115 Cockbill, Jennifer- Exchange further emails with D. 2.10 McKechnie, A. Stirling and K. Meyer re consulting agreement; exchange emails with W. Rostom; further review and revise consulting agreement and deliver draft to R. Adlington for review and comment; telephone call with R. Adlington and further revise consulting agreement; review Wael's comments on Brazil NDA and provide McMillan markup of same to client.
06/05/15 McKechnie, Dave J.G.- Review changes to 0.30 independent contractor agreement; email to J. Cockbill with suggested additional language.
231085 1111123
06/30/2015
Amount
330.00
80.00 275.00
115.00
577.50
550.00
770.00
720.00
157.50
1,155.00
172.50
McMillan LLr I Brookfielfl Place. 181 Bay Street. Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.1048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de breve-ts et de marques de commerce
vancouver I Calg.:uy I Toronto I Ottaw.:~ I Montrl!<.ll I Hong Kong 1 mcmillan.ca
345
Page5 Our File Number: 231085 Invoice Number: 1111123
Invoice Date: 06/30/2015
Account Details - Fees
Date Description of Services Hours Amount
06/05/15 Rostom, Wael M.- Providing mark-up of Brazil 0.30 240.00 Resources NDA; email and call with J. Cockbill.
06/05/15 Stirling, Andrew - Reviewing Independent 0.40 210.00 Contractor Agreement and providing comments on same.
06/08/15 Cockbill, Jennifer- Exchange emails with R. 0.40 220.00 Adlington; telephone call with R. Adlington; exchange further email with R. Adlington.
06/08/15 Rostom, Wael M. -Email from R. Adlington 0.10 80.00 regarding Brazil Resources NDA.
06/09/15 Rostom, Wael M. -Email from R. Adlington to 0.10 80.00 Brazil Resources and reply re NDA.
06/12/15 Brown-Okruhlik Stephen - Reviewing endorsement 0.80 304.00 of Justice Wilton-Siegel; serving endorsement on service list; circulating endorsement to client; serving endorsement on service list.
06/17/15 Cockbill, Jennifer- Review Metminco NDA and call 0.80 440.00 with R. Adlington regarding the same; revise Metminco NDA and send toR. Adlington.
06/20/15 Cockbill, Jennifer- Review further mark up of Brazil 0.80 440.00 NDA and email to W. Rostom regarding the same.
06/21/15 Cockbill, Jennifer- Review emails from W. Rostom; 0.30 165.00 email to R. Adlington.
06/22/15 Cockbill, Jennifer- Exchange emails with counsel for 0.20 110.00 Brazil Resources re NDA.
06/22115 Rostom, Wael M. - Emails with Receiver and J. 0.20 160.00 Cockbill regarding NDA.
06/23115 Cockbill, Jennifer- Review emails from R. 0.70 385.00 Adlington, D. McKechnie, and W. Rostom regarding the Harris consulting agreement; teleconference with R. Adlington, D. McKechnie and W. Rostom regarding the same.
06/23/15 McKechnie, Dave J.G. -Review revisions to 0.70 402.50 consultancy agreement; email to W. Rostom regarding same; call with client regarding opinion.
06/23/15 Rostom, Wael M. -Attend on call with KPMG and 0.50 400.00 RMB to discuss retention of mining engineer/consultant for sale process, including candidate G. Harris and SRK.
McMillan LLf' I Brookfield Place. 181 Bay Street, Suite 4400, Toronto, Ontario. Ccln~cla MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mcukAgents I Avocats I Agents de brc'Vcts. et de marques de comrnerce Vancouver I Calgary I roronto I Ottawa I Momre<JI I Hong Kong I mcmillan.ca
346
Page6 Our File Number: Invoice Number:
Invoice Date:
Account Details -Fees
Date Description of Services Hours
06/23/15 Rostom, Wael M. -Review mark-up of consultancy 0.90 agreement by Mr. Harris; emails with R. Adlington; call with R. Adlington and J. Cockbill.
06/24/15 Cockbill, Jennifer- Call with KPMG and RMB to 0.30 discuss Harris consulting agreement.
06/26/15 Cockbill, Jennifer- Review emails from W. Rostom. 0.20 06/26/15 Rostom, Wael M. - Emails from R. Adlington and 0.10
Vogel regarding G. Harris. 06/29/15 Rostom, Wael M. -Review emails regarding decision 0.10
to retain SRK rather than G. Harris as consultant to receiver.
06/30/15 Rostom, Wael M. - Emails with KPMG regarding 0.30 potential bankruptcy of Seafield.
Total 17.60 HST
Total Fees and Taxes
231085 11/1123
06/3012015
Amount
720.00
165.00
110.00 80.00
80.00
240.00
$9,934.00 1,291.42
$11,225.42
McMillan LLP I Brookfielrl Place. 181 Bay Street, Suite 4400. Toronto, Ontario. C~lnacla MSJ 2 f3 I t 416.865.7000 I f 416.865.7048
lawyers I Patent & ·rradc-mark Agents I Avocats I Agents de brevets ct de marques de cornrncrce Vancouv~r I Calgary I lor~omo J Om1wa I /l.!lontr(!q!_ J Hong Kong I mcmillan.ca
347
Page7 Our File Number: Invoice Number:
Invoice DaLe:
Account Details - Disbursements
Disbursements Subject to HST Date Description of Services 05/21/15 Borg Process Servers Inc. - Inv# 266249/Filing Motion
Materials returnable May 19, 2015. Photocopy
Total HST
Total
231085 1111/23
06130/20/5
Amount 45.00
17.50
$62.50 8.13
$70.63
McMillan LLf' I Brookfield Place. 181 Bay Street Suite 4400, -IOronto. Ontario. C~macla MSJ 2T3 I t 416.865.1000 I f 416.865.7048
Lawyers I P~-1tcnt & lrade-m.::1rk Agents I Avocars I Agents de bre:vets et de marques de cornmerce
V~ulCOLIVer I Calg.:Hy .I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
348
mcmillan
KPMGLLP 333 Bay Street Suite4600 Toronto, ON M5H 2S5
Attention: Philip Reynolds
Re: Seafield Resources
Our Fee Disbursements Subject to HST HST Total
Our File Number Invoice Number
Invoice Date GST Registration Number QST Registration Number
Remittance Page
$ $
231085 1111123
06/30/2015 R/19428555 1210248273
9,934.00 62.50
1,299.55 CAD $ 11,296.05
=====
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400. Toronto. Ontario. Canada MSJ 2 1"3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & lraclc·IT!ark Agents J Avocats I Agents de bre-vets et cle m<:~rqucs de comiTlCrce
Vancouver I Calg~try I Toronro I Ottawa I Montreal I Hong Kong I mcmillan.ca
349
mcmillan
August 20, 2015
PRIVILEGED AND CONFIDENTIAL
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
ATTENTION: Philip Reynolds
Enclosed please find our invoice for services rendered for the period ending July 31, 2015. Should you have any questions or comments, please do not hesitate to contact us.
Yours truly,
W.M.Rostom
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I F 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I MontrE-al I Hong Kong I mcmillan.ca
350
mcmillan
August 20, 2015
PRIVILEGED AND CONFIDENTIAL
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
ATTENTION: Philip Reynolds
Seafield Resources
File No: 231085 AccountNo: 1114195
FOR PROFESSIONAL SERVICES rendered to July 31, 2015 in connection with the above matter.
Our Fee
Disbursements- Taxable
Total Fees and Disbursements
HST
Total CAD
$
$
13,320.00
61.99
13,381.99 1,739.66
15,121.65
McMillan LLP
W.M.Rostom
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents J Avocats I Agents de brevets et de marques de commerce
Vancouver t Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
351
Payment is due on receipt of this account. We reserve the right to charge interest at the rate of 0.5% monthly on the unpaid portion of this account calculated from a date that is one month after this account is delivered.
Payment can be made by cheque, wire transfer or ED I. Wire transfer and EDI instructions:
Beneficiary Name: Beneficiary Bank:
McMillan LLP Royal Bank of Canada Main Branch- 200 Bay Street Toronto, Ontario M5J 2J5
Page2 of6
Wires originating from Canada Wires originating from US International
Please include our account# in the Payments Detail section of the wire transfer.
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable I -800-556-4660 or [email protected].
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400, Toronto. Ontario, Canada M5J 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents l Avocats I Agents de brevets et de marques de commerce
vancouver I Calgary I Toronto I Ottawa I Montreal 1 Hong Kong ! mcmillan.ca
352
Seafield Resources
SUMMARY OF FEES AND HOURS
Name Service Area
B.G. Harrison Advocacy & Employment
Jennifer Cockbill Financial Services
W.M. Rostom Financial Services
TOTAL
SUMMARY OF DISBURSEMENTS
Description of Services
Long Distance Telephone Calls
Meals and Travel Expenses
Photocopy
TOTAL
Hourly Rate Hours
700.00 0.60
550.00 9.20
800.00 9.80
19.60
Page 3 of6
Amount
420.00
5,060.00
7,840.00
$13,320.00
Amount
40.00
11.49
10.50
$61.99
McMillan LLP f Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Onawa I Montr~al I Hong Kong I mcmillan.ca
353
Page 4 of6
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name Description of Services Hours Amount
02-Jul-15 B.G. Harrison Emails from/toW. Rostom Re bankruptcy. 0.30 210.00
03-Ju1-15 B. G. Harrison Emails from/toW. Rostom and Receiver Re 0.30 210.00 bankruptcy issues.
06-Jul-15 W.M. Rostom Emails with P. Reynolds regarding bankruptcy of 0.30 240.00 Seafield and payment of outstanding invoices by RMB.
08-Jul-15 W.M.Rostom Review email from R.Adlington providing 0.90 720.00 Metminco's comments on NDA; email to R. Adlington; email and instructions to J. Cockbill; revising NDA.
14-Jul-15 Jennifer Cockbill Telephone call with R. Adlington; review form of 0.50 275.00 NDA for RMB purpose; exchange emails and telephone call with W. Rostom.
14-Jul-15 W.M.Rostom Communications with R. Adlington and J. Cockbill 0.80 640.00 concerning arrangements required to be in place so that RMB can see phase l bids per SISP; call with J. Cockbill.
15-Jul-15 Jennifer Cockbill Exchange emails with W. Rostom and review emails 0.50 275.00 from KPMG regarding RMB NDA.
15-Jul-15 W.M. Rostom Emails with KPMG regarding Metminco NDA 0.10 80.00 follow-up.
16-Jul-15 W.M. Rostom update regarding bids received under SISP process. 0.10 80.00
17-Jul-15 W.M. Rostom Email with P. ReynoldS' concern email from counsel to 0.10 80.00 Elora Gold.
20-Jul-15 Jennifer Cockbill Review Lois and Lol summary; teleconference with 1.30 715.00 KPMG.
20-Jul-15 W.M.Rostom Emails with Z. Patel; prepare for and attend on call 1.00 800.00 with KPMG to discuss Phase II SISP matters.
20-Jul-15 W.M. Rostom Review SISP and bids. 1.00 800.00
21-Jul-15 Jennifer Cockbill Review emails from R. Adlington and W. Rostom; 3.90 2,145.00 call with R. Adlington; review and revise draft SRK proposal and NDA and forward same toW. Rostom for review; discussions with W. Rostom; further revisions to proposal and NDA and send same to client.
22-Jul-15 Jennifer Cockbill Teleconference with K.PMG and Colombian counsel; 1.60 880.00 telephone call with R. Adlington; further revisions to ~RK proposal; email to R. Adlington.
22-Jul-15 W.M.Rostom Call with KPMG and PPU regarding- 0.90 720.00 debrief.
22-Ju1-15 W.M. Rostom 1.10 880.00
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400. Toronto, Ontario, Canada M5J 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
354
Page 5 of6
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name Description of Services Hours Amount
24-Ju1-15 Jennifer Cockbill Exchange emails with W. Rostom; review SISP and 0.50 275.00 provide comments on RMB's questions regarding credit bid.
24-Ju1-15 W.M. Rostom Email with P. Reynolds; review RMB questions; 0.30 240.00 communications with J. Cockbill and P. Reynolds.
27-Ju1-15 Jennifer Cockbill Telephone call with R. Adlington; review terms of 0.70 385.00 SISP regarding notice of commencement of Phase II; draft notice to RMB emails with R. Adlington.
28-Ju1-15 Jermifer Cockbill Review various emails from W. Rostom, Colombian 0.20 1!0.00 counsel and client.
28-Ju1-15 W.M.Rostom Call with C. Mitchell regarding RMB Bid Notice and !.20 960.00 tenns ofSISP; review SISP; call with P. Reynolds to
28-Ju1-15 W.M. Rostom 0.60 480.00 email to C. Porres
regarding email summary of motion and scheduling call to discuss.
29-Ju1-15 W.M.Rostom 0.30 240.00
call; emails 29-Ju1-15 W.M. Rostom Exchange of emails with C. Mitchell regarding terms 0.30 240.00
ofSISP. 30-Ju1-15 W.M.Rostom Preparing for and attending on call with PPU to 0.50 400.00
PPU for attendance
31-Ju1-15 W.M.Rostom Email update from D. Beltran regarding labour court 0.10 80.00 appearance.
31-Ju1-15 W.M.Rostom Review RBE Bid Notice delivered per SISP. 0.20 160.00
TOTAL 19.60 $13,320.00
HST $1,731.60
TOTAL FEES AND TAXES $15,051.60
McMillan uP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents J Avo cats 1 Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa ! Montreal I Hong Kong I mcmillan.ca
355
Seafield Resources
DISBURSEMENTS- TAXABLE
Date
19-May-15
TOTAL
HST
Description of Services
Stephen Brown-Okruhlik- inv#24.6.15.SB02/Seafield motion
Long Distance Telephone Calls
Photocopy
TOTAL DISBURSEMENTS AND TAXES
Page 6 of6
Amount
11.49 40.00
10.50
$61.99
$8.06
$70.05
McMillan LLP l Brookfield Place. 181 Bay Street. Suite 4400, Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 ! f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I C<llgary I Toronto I Ottawa I Montr~al I Hong Kong I mcmillan.ca
356
mcmillan
September 14, 2015
PRIVILEGED AND CONFIDENTIAL
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
ATTENTION: Philip Reynolds
Seafield Resources
File No: 231085 InvoiceNumber: 1115696
FOR PROFESSIONAL SERVICES rendered to August 31, 2015 in connection with the above matter.
Our Fee HST
Total
$
CAD $
6,135.00
797.55
6,932.55
McMillan LLP
W.M.Rostom
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I F 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents: de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
357
Payment is due on receipt of this account. We reserve the right to charge interest at the rate of 0.5% monthly on the unpaid portion of this account calculated from a date that is one month after this account is delivered.
Payment can be made by cheque, wire transfer or ED I. Wire transfer and EDI instructions:
Beneficiary Name: Beneficiary Bank:
McMillan LLP Royal Bank of Canada Main Branch- 200 Bay Street Toronto, Ontario M5J 215
Page2 of5
Wires originating from Canada Wires originating from US International
Please include our account# in the Payments Detail section of the wire transfer.
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660 or [email protected].
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400, Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lt~wyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
358
Page 3 of5
Seafield Resources
SUMMARY OF FEES AND HOURS
Name Service Area Hourly Rate Hours Amount
A. Stirling Tax 525.00 2.60 1,365.00
Jennifer Cockbill Financial Services 550.00 1.40 770.00
W.M. Rostom Financial Services 800.00 5.00 4,000.00
TOTAL 9.00 $6,135.00
McMillan ur I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 l f 416.865.7048
Lavvyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
359
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name
03-Aug-15 W.M.Rostom
04-Aug-15 W.M.Rostom
04-Aug-15 W.M. Rostom
05-Aug-15 Jennifer Cockbill
06-Aug-15 Jennifer Cockbill
06-Aug-15 W.M. Rostom
06-Aug-15 W.M. Rostom
12-Aug-15 W.M. Rostom
12-Aug-15 W.M. Rostom
13-Aug-15 Jennifer Cockbill
13-Aug-15 W.M. Rostom
14-Aug-15 W.M. Rostom
18-Aug-15 W.M. Rostom
19-Aug-15 W.M. Rostom
20-Aug-15 W.M. Rostom
24-Aug-15 Jennifer Cockbill
24-Aug-15 W.M. Rostom
24-Aug-15 A. Stirling
Description of Services
Report from H. Hernandez concerning attendance before labour court. Email from Stikemans concerning sale process and -call with P. Reynolds to discuss. Emails with C. Porras regarding protective measures.
Review emails from Colombian counsel.
Review various emails regarding labour hearing, sale process, Minera corporate matters and potential bankrutpcy assignment. Emails with R. Adlington regarding SISP; emails with PPU regarding res,o1ultion.s;
Call with Reynolds.
Exchange of emails with R. Adlington and PPU (Felipe Cuberos) regarding
Review various
Further emails with F. Cuberos regarding effect of
Emails with RMB regarding HST.
Exchange of emails with J. Cockbill concerning shareholder resolutions required for capitalization of Min era; instructions to J. Cockbill.
shareholder resolutions and capital contributions; follow-up regarding certain tax issues with J. Cockbill. Considering tax implications of various options to contribute cash to newly incorporated entity; telephone discussion with J. Cockbill re: same; telephone discussion with M. Ranger re: same.
Page 4 of5
Hours Amount
0.10 80.00
0.30 240.00
0.20 160.00
0.10 55.00
0.10 55.00
0.60 480.00
0.10 80.00
0.20 160.00
0.90 720.00
0.20 110.00
0.50 400.00
0.10 80.00
0.10 80.00
0.10 80.00
0.30 240.00
1.00 550.00
1.00 800.00
2.60 1,365.00
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers 1 Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
360
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name
25-Aug-15 W.M. Rostom
28-Aug-15 W.M. Rostom
28-Aug-15 W.M. Rostom
TOTAL
HST
TOTAL FEES AND TAXES
Description of Services
Emails with J. Cockbill concerning Canadian tax issues relevant to capital injections. Emails from R. Winters; emails from A. Iregui attaching resolutions. Emails to RMB and KPMG concerning shareholder capitalization resolutions and status of bankruptcy; emails with R. Adlington.
Page 5 of5
Hours Amount
0.10 80.00
0.20 160.00
0.20 160.00
9.00 $6,135.00
$797.55
$6,932.55
McMillan UP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
361
mcmillan
October 22, 2015
PRIVILEGED AND CONFIDENTIAL
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
ATTENTION: Philip Reynolds
Enclosed please find our invoice for services rendered for the period ending September 30, 2015. Should you have any questions or comments, please do not hesitate to contact us.
Yours truly,
W.M.Rostom
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avo cats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmil!an.ca
362
mcmillan
October 22, 2015
PRIVILEGED AND CONFIDENTIAL
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
ATTENTION: Philip Reynolds
Seafield Resources
FileNo: 231085 Invoice Number: 1118316
FOR PROFESSIONAL SERVICES rendered to September 30, 2015 in connection with the above matter.
Our Fee Disbursements- Non Taxable
Disbursements- Taxable
Total Fees and Disbursements HST
Total
$
CAD $
29,776.00 170.00 88.25
30,034.25 3,882.35
33,916.60
McMillan LLP
W.M.Rostom
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400, Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa t MontrE-al I Hong Kong I mcmillan.ca
363
Payment is due on receipt of this account. We reserve the right to charge interest at the rate of 0.5% monthly on the unpaid portion of this account calculated from a date that is one month after this account is delivered.
Payment can be made by cheque, wire transfer or ED I. Wire transfer and EDI instructions:
Beneficiary Name: Beneficiary Bank:
McMillan LLP Royal Bank of Canada Main Branch- 200 Bay Street Toronto, Ontario M5J 2J5
Page2 of8
Wires originating from Canada Wires originating from US International
Please include our account# in the Payments Detail section of the wire transfer.
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660 or [email protected].
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400. Toronto, Ontario, Canada MSJ 2T3 1 t 416.865.7000 1 f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Momrear I Hong Kong I mcmillan.cc1
364
Page 3 of8
Seafield Resources
SUMMARY OF FEES AND HOURS
Name Service Area Hourly Rate Hours Amount
A.Ly Financial Services 300.00 0.60 180.00
1. Levine Advocacy & Employment 550.00 0.20 110.00
Jennifer Cockbill Financial Services 550.00 9.70 5,335.00
R.M. Scavone Financial Services 835.00 13.40 11,189.00
S. Brown-Okruhlik Advocacy & Employment 380.00 9.90 3,762.00
W.M.Rostom Financial Services 800.00 11.50 9,200.00
TOTAL 45.30 $29,776.00
SUMMARY OF DISBURSEMENTS
Description of Services Amount
Filing Fees 127.00
Searches 56.00
Government Source Fee 43.00
Photocopy 32.25
TOTAL $258.25
McMillan LlP I Brookfield Place. 181 Bay Street. Suite 4400, Toronto. Ontario, Canada MSJ 2T3 J t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats l Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
365
Page 4 of8
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name Description of Services Hours Amount
21-Aug-15 Jennifer Cockbill Review various emails from client and RMB. 0.20 110.00
24-Aug-15 Jennifer Cockbill Telephone calls with A. Stirling and R. Adlington 0.50 275.00 and exchange further emails with W. Rostom regarding tax issues with respect to capitalization.
02-Sep-15 W.M. Rostom Email to KPMG regarding sales process. 0.10 80.00
04-Sep-15 W.M. Rostom Discussion with P. Reynolds concerning PPU review 0.20 160.00 ofRMB security.
08-Sep-15 A.Ly Review and respond to emails from W. Rostom re: 0.50 150.00 conducting of due diligence searches; conduct corporate and PPSA searches; review and forward search results toW. Rostom.
09-Sep-15 Jennifer Cockbill Conference calls with KPMG and RMB regarding 3.00 1,650.00 Brazil offer and steps going forward; prepare security review.
09-Sep-15 A.Ly Review and forward PPSA search results toW. 0.10 30.00 Rostom.
09-Sep-15 W.M. Rostom Attending on call with KPMG to discuss SIPS 0.50 400.00 process and prepare for call with RMB.
09-Sep-15 W.M.Rostom Attending on call with RMB and the Receiver to 0.70 560.00 discuss results of Sale process and RMB credit bid.
09-Sep-15 W.M.Rostom Emails and calls with R. Adlington regarding Brazil 0.30 240.00 Resources offer.
09-Sep-15 W.M.Rostom Review Brazil Offer and compare tenns to SISP; 1.30 1,040.00 analyze offer conditions and consider next steps; communications with Receiver regarding Brazil offer; discussions with RMB and next steps.
10-Sep-15 Jennifer Cockbill Revisions to security review; email to R Adlington 0.50 275.00 for comment.
10-Sep-15 W.M. Rostom Email exchange with A. Taylor. 0.10 80.00
10-Sep-15 W.M. Rostom 0.10 80.00
10-Sep-15 W.M. Rostom 0.40 320.00 and provide comments.
11-Sep-15 W.M.Rostom Call with P. Reynolds and R Adlington regarding 0.30 240.00 RMB security review and discussions with Stikemans.
11-Sep-15 W.M. Rostom Discussion with A. Taylor concerning review of 0.30 240.00 RMB security.
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto ! Ottawa ! Montreal I Hong Kong I mcmillan.CCI
366
Page 5 of8
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name Description of Services Hours Amount
11-Sep-15 W.M. Rostom 1.70 1,360.00
11-Sep-15 W.M.Rostom Review sale process summary 0.50 400.00 ernails to S. Brown-Okruhlik concerning motion for
11-Sep-15 R.M. Scavone 0.30 250.50
11-Sep-15 R.M. Scavone 0.50 417.50
11-Sep-15 R.M. Scavone 0.30 250.50
11-Sep-15 R.M. Scavone 0.60 501.00
11-Sep-15 R.M. Scavone 0.40 334.00
14-Sep-15 W.M.Rostom first meeting of creditors in the 0.50 400.00 bankruptcy of Seafield Resources Ltd.
15-Sep-15 Jennifer Cockbill D. Beltran, and R. 2.70 1,485.00 Scavone telephone call with -16-Sep-15 S. Brown-Okruhlik Meeting with W. Rostom re: Seafield; reviewing 1.10 418.00 material to support motion; meeting with J. Levin re: content of Motion Record.
16-Sep-15 J. Levine Conference with S. Brown-Okruhlik regarding motion 0.20 110.00 for directions.
16-Sep-15 R.M. Scavone Receive and review draft security review opinion and 2.60 2,171.00 comment on same toW. Rostom.
21-Sep-15 S. Brown-Okruhlik Creating motion record, Marfatia Affidavit and 2.70 1,026.00 Notice of Motion for motion for directions from the court, per section 5.5 of the SISP.
21-Sep-15 Jennifer Cockbill Review draft court materials for application seeking 0.50 275.00 directions; email to S. Brown Okruhlik; exchange further emails with S. Brown Okruhlik.
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver J Calgary I Toronto I Ottawa J Montreal J Hong Kong I mcmillan.ca
367
Page 6 of8
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name Description of Services Hours Amount
21-Sep-15 W.M. Rostom 0.40 320.00
21-Sep-15 R.M. Scavone and review email from Colombian counsel re: 0.30 250.50 -22-Sep-15 S. Brown-Okruhlik Finalizing Notice of Motion, Marfatia Affidavit and 1.80 684.00 Motion Record.
22-Sep-15 W.M.Rostom CalVmeeting with R. Scavone and J. Cockbill to 0.50 400.00 discuss security opinion; instructions to J. Cockbill regarding next steps.
22-Sep-15 W.M. Rostom Communication with R. Adlington regarding motion 0.10 80.00 for directions.
22-Sep-15 W.M.Rostom Emails with A. Taylor. 0.10 80.00
22-Sep-15 W.M. Rostom Review and comment on draft motion for directions. 0.70 560.00
22-Sep-15 R.M. Scavone Email exchange with J. Cockbill re: December 6, 2013 0.30 250.50 share issue.
22-Sep-15 R.M. Scavone Office conference with W. Rostom and conference 0.60 501.00 call with J. Cockbill re:
22-Sep-15 R.M. Scavone 0.60 501.00
22-Sep-15 R.M. Scavone 0.30 250.50
23-Sep-15 S. Brown-Okruhlik Revising motion materials to reflect additional actions 2.20 836.00 taken by receiver; circulating motion material for review and comment; arranging for service and filing of motion material; updating service list; call with R. Adlington re: Marfatia Affidavit.
23-Sep-15 Jennifer Cockbill Exchange emails with W. Rostom and R. Scavone 0.70 385.00 regarding- email to D. Beltran.
23-Sep-15 W.M.Rostom Review R. Adlington comments on motion for 0.50 400.00 directions; discuss with S. Brown Okruhlik; instructions.
23-Sep-15 R.M. Scavone Additional research 0.50 417.50
23-Sep-15 R.M. Scavone 0.50 417.50
23-Sep-15 R.M. Scavone 0.10 83.50
23-Sep-15 R.M. Scavone Receive and review- and comment on 0.20 167.00 same.
23-Sep-15 R.M. Scavone Receive and review share certificates and receipts. 0.10 83.50
23-Sep-15 R.M. Scavone 2.80 2,338.00
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400. Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade·mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto ! Ottawa ! Montreal [ Hong Kong [ mcmillan.ca
368
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name
25-Sep-15 S. Brown-Okruh1ik
25-Sep-15 Jennifer Cockbill
25-Sep-15 W.M. Rostom
25-Sep-15 W.M. Rostom
25-Sep-15 W.M. Rostom
25-Sep-15 R.M. Scavone
25-Sep-15 R.M. Scavone
25-Sep-15 R.M. Scavone
27-Sep-15 R.M. Scavone
28-Sep-15 S. Brown-Okruhlik
28-Sep-15 Jennifer Cockbill
28-Sep-15 W.M. Rostom
28-Sep-15 R.M. Scavone
30-Sep-15 R.M. Scavone
TOTAL
HST
TOTAL FEES AND TAXES
Description of Services
Implementing final revisions to motion material; call with W. Rostom re changes to Marfatia Affidavit; circulating final drafts to KPMG and counsel for creditor; arranging for service and filing. Conference call with R. Scavone, D. Beltran and R. Adlington; review emails from W. Rostom and R. Scavone. Call with R. Scavone to discuss D. Beltran's review of Minera share register. Email from D. Beltran regarding-- consider email. Review of revised motion record; call with A. Taylor ofStikemans; instructions to S. Brown-Okruhlik. Conference call with D. Beltran, J. Cockbill and others to discuss pledge issues. Email toW. Rostom re: discussion with D. Beltran.
Serving motion material.
Review em ails from R. Scavone and W. Rostom; teleconference with W. Rostom, R. Scavone, KPMG andPPU. Call with PPU and R. Scavone to discuss matters raised by PPU concerning-Conference call with PPU, KPMG, W. Rostom and J. Cockbill re: Email from
Page 7 of8
Hours Amount
1.40 532.00
0.80 440.00
0.30 240.00
0.30 240.00
0.80 640.00
0.60 501.00
0.40 334.00
0.20 167.00
0.30 250.50
0.70 266.00
0.80 440.00
0.80 640.00
0.70 584.50
0.20 167.00
45.30 $29,776.00
$3,870.88
$33,646.88
McMillan LLP I Brookfield Place. IBI Bay Street, Suite 4400. Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong 1 mcmillan.ca
369
Seafield Resources
DISBURSEMENTS- NON TAXABLE
Date
23-Sep-15
14-Sep-15
14-Sep-15
14-Sep-15
14-Sep-15
14-Sep-15
14-Sep-15
TOTAL
Description of Services
Minister of Finance- Inv #23.9.15.1.35/Motion Filing Fee Oncorp Direct Inc. - SEAFIELD RESOURCES LTD.
Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
Oncorp Direct Inc. - SEAFIELD RESOURCES LTD.
Oncorp Direct Inc. -VOYAGER EXPLORATIONS LIMITED
Oncorp Direct Inc.- VOYAGER EXPLORATIONS LIMITED
DISBURSEMENTS- TAXABLE
Date
14-Sep-15
14-Sep-15
14-Sep-15
14-Sep-15
14-Sep-15
14-Sep-15
TOTAL
HST
Description of Services
Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
Oncorp Direct Inc.- VOYAGER EXPLORATIONS LIMITED
Oncorp Direct Inc. -VOYAGER EXPLORATIONS LIMITED
Photocopy
TOTAL DISBURSEMENTS AND TAXES
Page 8 of8
Amount
127.00
8.00
3.00
8.00
8.00
8.00
8.00
$170.00
Amount
5.00
8.00
5.00
15.00
15.00
8.00
32.25
$88.25
$11.47
$269.72
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada M5J 2T3 I t 416.865.7000 I f 416.865.7048
Lavvyers I Patent & Trade-mark Agents I Avocats J Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montr~al I Hong Kong I mcmillan.ca
370
mcmtllan
November 12,2015
PRIVILEGED AND CONFIDENTIAL
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
ATTENTION: Philip Reynolds
Seafield Resources
FileNo: 231085 Invoice Number: 1119727
FOR PROFESSIONAL SERVICES rendered to October 31, 2015 in connection with the above matter.
Our Fee
HST
Total
$
CAD $
4,943.50 642.66
5,586.16
McMillan LLP
W.M.Rostom
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 ! t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montr~ar t Hong Kong I mcmillan.ca
371
Payment is due on receipt of this account. We reserve the right to charge interest at the rate of 0.5% monthly on the unpaid portion of this account calculated from a date that is one month after this account is delivered.
Payment can be made by cheque, wire transfer or ED!. Wire transfer and EDI instructions:
Beneficiary Name: Beneficiary Bank:
McMillan LLP Royal Bank of Canada Main Branch- 200 Bay Street Toronto, Ontario M5J 2J5
Page2 of5
Wires originating from Canada Wires originating from US International
Please include our Invoice Number in the Payments Detail section of the wire transfer.
If you have any questions about this account, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660 or [email protected].
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
372
Page 3 of5
Seafield Resources
SUMMARY OF FEES AND HOURS
Name Service Area Hourly Rate Hours Amount
R.M. Scavone Financial Services 835.00 1.30 1,085.50
S. Brown-Okruhlik Advocacy & Employment 380.00 1.10 418.00
W.M. Rostom Financial Services 800.00 4.30 3,440.00
TOTAL 6.70 $4,943.50
McMillan ur 1 Brookfield Place. 181 Bay Street, Suite 4400, Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto 1 Ottawa I Montreal I Hong Kong I mcmillan.CCI
373
Page4of5
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name Description of Services Hours Amount
01-0ct-15 S. Brown-Okruhlik 0.20 76.00
01-0ct-15 R.M. Scavone 0.20 167.00
05-0ct-15 S. Brown-Okruhlik 0.80 304.00 - reviewing requirements email to W. Rostom re: same; delivering updated service list.
06-0ct-15 W.M. Rostom Email toP. and R. Adlington regarding 0.10 80.00
07-0ct-15 W.M.Rostom regarding status of 0.10 80.00
07-0ct-15 W.M.Rostom regarding- 0.20 160.00
07-0ct-15 R.M. Scavone 0.80 668.00
07-0ct-15 R.M. Scavone 0.30 250.50
08-0ct-15 S. Brown-Okruh1ik 0.10 38.00
08-0ct-15 W.M.Rostom Attend on conference call with PPU, R. Scavone and 0.90 720.00 KPMGto
08-0ct-15 W.M. Rostom 0.10 80.00
09-0ct-15 W.M.Rostom Call with C. Mitchell concerning situation and next 0.30 240.00 steps.
09-0ct-15 W.M.Rostom Debrief with P. Reynolds after call with C. Mitchell of 0.20 160.00 Stikemans discussing credit bid.
13-0ct-15 W.M.Rostom Emails from C. Mitchell and emails with R. Adlington. 0.10 80.00
15-0ct-15 W.M. Rostom Email from C. Mitchell. 0.10 80.00
16-0ct-15 W.M.Rostom Call with Stikeman to discuss RMB credit bid; call 0.80 640.00 with Trustee to debrief from call.
21-0ct-15 W.M.Rostom Emails from R. Adlington regarding correspondence 0.10 80.00 from registry office in Colombia.
22-0ct-15 W.M.Rostom Call with A. Taylor regarding credit bid and next 0.20 160.00 steps.
22-0ct-15 W.M.Rostom Email from D. Beltran. 0.10 80.00
23-0ct-15 W.M.Rostom Email exchange with P. Reynolds. 0.10 80.00
23-0ct-15 W.M.Rostom Email exchanges with P. Reynolds and A. Taylor. 0.10 80.00
26-0ct-15 W.M. Rostom Emails with A. Taylor to schedule call; emails with P. 0.20 160.00 Reynolds.
McMillan u..r I Brookfield Place. 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmi!lan.ca
374
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name
27-0ct-15 W.M. Rostom
28-0ct-15 W.M. Rostom
30-0ct-15 W.M. Rostom
TOTAL
HST
TOTAL FEES AND TAXES
Description of Services
Email exchanges with A. Taylor and P. Reynolds.
Call and emails with P. Reynolds regarding RMB questions regarding credit bid. Emails with P. Reynolds and C. Mitchell to schedule call to discuss credit bid and next steps.
Page 5 of5
Hours
0.10
0.40
0.10
6.70
Amount
80.00
320.00
80.00
$4,943.50
$642.66
$5,586.16
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400, Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver J Calgary I Toronto I Ottawa t Montr~al I Hong Kong I mcmillan.ca
375
mcmtllan
December 16, 2015
PRIVILEGED AND CONFIDENTIAL
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
ATTENTION: Philip Reynolds
Enclosed please find our invoice for services rendered for the period ending November 30, 2015. Should you have any questions or comments, please do not hesitate to contact us.
Yours truly,
W.M.Rostom
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400. Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto l Onawa I Montreal I Hong Kong I mcmillan.cc1
376
mcmtllan
December 16, 2015
PRIVILEGED AND CONFIDENTIAL
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
ATTENTION: Philip Reynolds
Seafield Resources
File No: 231085 Invoice Number: 1122046
FOR PROFESSIONAL SERVICES rendered to November 30,2015 in connection with the above matter.
Our Fee
Disbursements - Taxable
Total Fees and Disbursements HST
Total CAD
$
$
5,710.00
70.54
5,780.54 751.47
6,532.01
McMillan LLP
W.M.Rostom
McMillan LLP ! Brookfield Place. 181 Bay Street, Suite 4400, Toronto. Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
377
Payment is due on receipt of this account. We reserve the right to charge interest at the rate of 0.5% monthly on the unpaid portion of this account calculated from a date that is one month after this account is delivered.
Payment can be made by cheque, wire transfer or ED I. Wire transfer and EDI instructions:
Beneficiary Name: Beneficiary Bank:
McMillan LLP Royal Bank of Canada Main Branch- 200 Bay Street Toronto, Ontario M5J 215
Page2 of6
Wires originating from Canada Wires originating from US International
Please include our Invoice Number in the Payments Detail section of the wire transfer.
If you have any questions about this invoice, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660 or [email protected].
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400. Toronto. Ontario, Canada M5J 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal l Hong Kong I mcmillan.ca
378
Seafield Resources
SUMMARY OF FEES AND HOURS
Name
S. Brown-Okruhlik
W.M. Rostom
TOTAL
Service Area
Advocacy & Employment
Financial Services
SUMMARY OF DISBURSEMENTS
Description of Services
Conference Call Hosting Fees
TOTAL
Hourly Rate
380.00
800.00
Hours
8.50
3.10
11.60
Page 3 of6
Amount
3,230.00
2,480.00
$5,710.00
Amount
70.54
$70.54
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montrt!>al I Hong Kong I mcmillan.ca
379
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name
03-Nov-15 W.M. Rostom
19-Nov-15 S. Brown-Okruhlik
19-Nov-15 S. Brown-Okruhlik
19-Nov-15 W.M.Rostom
19-Nov-15 W.M. Rostom
20-Nov-15 W.M. Rostom
20-Nov-15 W.M.Rostom
22-Nov-15 S. Brown-Okruhlik
24-Nov-15 S. Brown-Okruhlik
24-Nov-15 W.M. Rostom
25-Nov-15 S. Brown-Okruhlik
26-Nov-15 S. Brown-Okruhlik
26-Nov-15 W.M. Rostom
26-Nov-15 W.M. Rostom
27-Nov-15 S. Brown-Okruhlik
27-Nov-15 W.M. Rostom
27-Nov-15 W.M. Rostom
Description of Services
Call with KPMG and Stikemans regarding RMB credit bid and next steps. Email from W. Rostom re: AP A and motion for approval; phone call with W. Rostom re: motion material. Email from W. Rostom re: RMB purchase and sale agreement; reviewing contract; email to W. Rostom with comments. Email from C. MacDonald providing initial draft of asset purchase agreement; initial review of agreement. Emails to PPU regarding RBM credit bid.
Communications with PPU regarding credit bid and draft agreement; requesting comments. Review and comment on RMB credit bid; email to KPMG reporting on draft. Reviewing D. Belatran's comments to APA.
Reviewing and commenting on APA; reviewing Colombian counsel's comments on APA and responding to same; locating precedent motion material; researching
email toW. Rostom re: same. PPU on asset purchase
Email to D. Beltran re: availability for a call.
Preparing comments re: AP A and motion material; instructing student re: research; phone call with W. Rostom and D. Beltran re: APA and Colombian law issues. Attend on call with D. Beltran ofPPU regarding comments on Stikeman's draft credit bid; email to C. Mitchell. Email exchanges with KPMG regarding call with PPU and emails with KPMG regarding credit bid approval motion. Reviewing precedent material provided by KPMG; emails to R. Adlington re: Receiver's Report; email to K. Hart re: motion material; email to W. Rostom re: APA. Emails and voicernail from P. Reynolds.
Emails with Stikemans.
Page 4 of6
Hours
0.40
0.40
2.00
0.30
0.30
0.20
0.50
0.30
2.90
0.40
0.10
1.30
0.60
0.20
1.20
0.10
0.10
Amount
320.00
152.00
760.00
240.00
240.00
160.00
400.00
114.00
1,102.00
320.00
38.00
494.00
480.00
160.00
456.00
80.00
80.00
McMillan LLP f Brookfield Place, 181 Bay Street, Suite 4400. Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers f Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmiffan.ca
380
Page 5 of6
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name Description of Services Hours Amount
30-Nov-15 S. Brown-Okruh1ik Phone call with R Adlington re: Receiver's Report. 0.30 114.00
TOTAL 11.60 $5,710.00
HST $742.30
TOTAL FEES AND TAXES $6,452.30
McMillan LLP 1 Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents J Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
381
Seafield Resources
DISBURSEMENTS· TAXABLE
Date
TOTAL
HST
Description of Services
Conference Call Hosting Fees
TOTAL DISBURSEMENTS AND TAXES
Page 6 of6
Amount
70.54
$70.54
$9.17
$79.71
McMillan LLP I Brookfield Place. 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents l Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa l Montreal I Hong Kong I mcmillan.ca
382
mcmillan
December 31, 2015
PRIVILEGED AND CONFIDENTIAL
KPMGLLP 333 Bay Street Suite 4600 Toronto, ON M5H 2S5
ATTENTION: Philip Reynolds
Seafield Resources
FileNo: 231085 Invoice Number: 1123108
FOR PROFESSIONAL SERVICES rendered to December 31, 2015 in connection with the above matter.
Our Fee
Disbursements -Non Taxable
Disbursements- Taxable
Total Fees and Disbursements HST
Total
$
CAD $
18,690.00
11.00 10.00
18,711.00 2,431.00
21,142.00
McMillan LLP
W.M.Rostom
McMillan ur 1 Brookfield Place. 181 Bay Street, Suite 4400, Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmi!lan.ca
383
Payment is due on receipt of this account. We reserve the right to charge interest at the rate of 0.5% monthly on the unpaid portion of this account calculated from a date that is one month after this account is delivered.
Payment can be made by cheque, wire transfer or ED I. Wire transfer and EDI instructions:
Beneficiary Name: Beneficiary Bank:
McMillan LLP Royal Bank of Canada Main Branch- 200 Bay Street Toronto, Ontario M5J 215
Page 2 of7
Wires originating from Canada Wires originating from US International
Please include our Invoice Number in the Payments Detail section of the wire transfer.
If you have any questions about this invoice, please contact W.M. Rostom or Accounts Receivable 1-800-556-4660 or [email protected].
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400, Toronto, Ontario, Canada M5J 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmil!an.Gl
384
Seafield Resources
SUMMARY OF FEES AND HOURS
Name Service Area
M. Singleton Financial Services
S. Brown-Okruhlik Advocacy & Employment
W.M. Rostom Financial Services
TOTAL
SUMMARY OF DISBURSEMENTS
Description of Services
Government Source Fee
Searches
TOTAL
Hourly Rate Hours
200.00 0.20
380.00 33.50
800.00 7.40
41.10
Page 3 of7
Amount
40.00
12,730.00
5,920.00
$18,690.00
Amount
11.00
10.00
$21.00
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400. Toronto, Ontario, Canada MSJ 2T3 t t 416.865.7000 ! f 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
385
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name
01-Dec-15 S. Brown-Okruhlik
OlwDecwl5 W.M. Rostom
02-Dec-15 S. Brown-Okruhlik
03-Dec-15 S. Brown-Okruhlik
07-Dec-15 S. Brown-Okruh1ik
08-Dec-15 S. Brown-Okruhlik
08-Dec-15 W.M.Rostom
08-Dec-15 W.M. Rostom
08-Dec-15 W.M.Rostom
08-Dec-15 W.M.Rostom
10-Dec-15 S. Brown-Okruhlik
10-Dec-15 W.M. Rostom
Description of Services
Emails with K. Dhillon and L. Ng re: invoices to include in R&D section of Receiver's Report. Further emails with R. Adlington regarding preparing for sale approval and discharge motion. Drafting Amended Notice of Motion; drafting draft orders; reviewing and providing comments on Receiver's Report; email to W. Rostom setting out remaining issues to be addressed in motion record.
to counsel for RMB with McMillan comments; reviewing aspects of Second Report-
call with W. Rostom re: items ad<lre!;s VlithColom!Jiao counsel; call to D. Beltrao
re: Colombian legal opinion; email toR. Adlington re: outstanding issues with Receiver's Report. Email to D. Beltran re: items to be addressed by counsel for R11B; call with D. Beltran and R.
Rostom re: nature of the APA transaction. Call with S. BrownwOkrulik regarding status and next steps. Email with R. Adlington regarding call with PPU.
Preparing for and attending on call with Stikmans and RMB; debrief with S. BrownwOkrulik and P. Reynolds. Update from S. BrownwOkrulik providing report and debrief on call with KPMG and PPU regarding RMB credit bid. Meeting with W. Rostom re: next steps in asset sale; assigning research to A. Vale re:-• email to R. Adlington re: outstanding items for Second Report; email to B. Zee re:
BrownwOkrulik regarding status of preparation for sale approval motion and next steps.
Page 4 of7
Hours Amount
0.30 114.00
0.10 80.00
6.20 2,356.00
3.60 1,368.00
1.10 418.00
3.20 1,216.00
0.50 400.00
0.10 80.00
1.20 960.00
0.10 80.00
1.50 570.00
0.50 400.00
McMillan LLP I Brookfield Place, 181 Bay Street, Suite 4400, Toronto, Ontario, Canada MSJ 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I P.:1tent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver J C.:1Jgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
386
Seafield Resources
ACCOUNT DETAILS- FEES
Date Name
11-Dec-15 S. Brown-Okruh1ik
11-Dec-15 M. Singleton
12-Dec-15 S. Brown-Okruh1ik
14-Dec-15 S. Brown-Okruh1ik
15-Dec-15 S. Brown-Okruh1ik
16-Dec-15 S. Brown-Okruh1ik
17-Dec-15 S. Brown-Okruh1ik
19-Dec-15 S. Brown-Okruh1ik
20-Dec-15 S. Brown-Okruh1ik
21-Dec-15 S. Brown-Okruh1ik
21-Dec-15 W.M. Rostom
21-Dec-15 W .M. Rostom
Description of Services
Reviewing email from R. Adlington with reports and valuations conducted on Minera; calls with R. Adlington re: Second Report; meeting with A. Vale re:
reviewing research re:-
Summarizing research
in Second Report. Email re: D. Beltran's request to consult C. Cadena; reviewing summary of events in Colombia provided by D. Beltran; reviewing revised SPA circulated by counsel for RMB. Providing comments on SPA; email toW. Rostom re: impartiality of Receiver; arranging phone call with R. Adlington and D. Beltran; email from A. Vale
Email toR. Adlington and D. Beltran re:--providing comments re: latest draft of SPA; call with W. Rostom re: credit bid; drafting agenda for group call; email to D. Beltran and R. Adlington. Email to D. Beltran and R. Adlington re: items to address in Second Report and Minera financial data. Revising Second Report; email toW. Rostom re: same; preparing notes for call with R. Adlington and Colombian counsel. Call with W. Rostom and KPMG re: outstanding issues to address in SPA and Receiver's Report; call
notes preparation for same. Attend on call with Receiver and S. Brown-Okruhlick to
Page 5 of7
Hours
2.20
0.20
1.50
1.70
1.70
1.40
1.70
0.40
2.80
2.50
0.80
0.10
Amount
836.00
40.00
570.00
646.00
646.00
532.00
646.00
152.00
1,064.00
950.00
640.00
80.00
McMilfan UP I Brookfield Place, 181 Bay Street, Suite 4400. Toronto. Ontario, Canada M5J 2T3 I t 416.865.7000 I F 416.865.7048 Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce Vancouver I Calgary I Toronto I Ottawa I Montreat I Hong Kong I mcmi11an.ca
387
Page 6 of7
Seatield Resources
ACCOUNT DETAILS- FEES
Date Name Description of Services Hours Amount
21-Dec-15 W.M.Rostom Review and comment on R1vffi credit bid; circulate 3.20 2,560.00 drafts to Receiver; review and comment on draft Receiver's report; circulate comments to S. Brown-Okruhlik.
22-Dec-15 W.M.Rostom Emails with KPMG regarding draft APA; circulating 0.20 160.00 to Stikemans.
22-Dec-15 W.M. Rostom Review claims register sent by R. Adlington and 0.20 160.00 comments on drafting of receiver's report.
23-Dec-15 S. Brown-Okruh1ik Booking motion date with commercial list court; 0.40 152.00 emails to counsel for RMB re: comments on revised SPA.
23-Dec-15 W.M.Rostom Review email from D. Beltran and discuss with S. 0.20 160.00 Brown-Okrulik.
24-Dec-15 S. Brown-Okruh1ik Arranging for motion scheduling; correspondence 0.50 190.00 with the commercial list court.
24-Dec-15 S. Brown-Okruhlik Call with B. Harrison re: 0.20 76.00 -29-Dec-15 S. Brown-Okruhlik Emails toW. Rostom re: motion booking and 0.60 228.00 identifYing judges to the court; email to court re: Justice Newbould's familiarity with the facts of the receivership; email to K.PMG and counsel for secured creditor re: motion date.
29-Dec-15 W.M.Rostom Emails concerning court date. 0.20 160.00
TOTAL 41.10 $18,690.00
HST $2,429.70
TOTAL FEES AND TAXES $21,119.70
McMillan LLP I Brookfield Place. 181 Bay Street. Suite 4400, Toronto, Ontario. Canada M5J 2T3 I t 416.865.7000 I f 416.865.7048 Lawyers I Patent & Trade-mark. Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver J Calgary I Toronto J Ottawa I Montreal I Hong Kong I mcmillan.ca
388
Seafield Resources
DISBURSEMENTS- NON TAXABLE
Date
14-Dec-15
14-Dec-15
TOTAL
Description of Services
Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
Oncorp Direct Inc. - SEAFIELD RESOURCES LTD.
DISBURSEMENTS- TAXABLE
Date
14-Dec-15 14-Dec-15
TOTAL
HST
Description of Services
Oncorp Direct Inc.- SEAFIELD RESOURCES LTD. Oncorp Direct Inc.- SEAFIELD RESOURCES LTD.
TOTAL DISBURSEMENTS AND TAXES
Page 7 of7
Amount
8.00
3.00
$11.00
Amount
5.00 5.00
$10.00
$1.30 $22.30
McMillan LLP I Brookfield Place, 181 Bay Street. Suite 4400. Toronto. Ontario. Canada MSJ 2T3 I t 416.865.7000 I F 416.865.7048
Lawyers I Patent & Trade-mark Agents I Avocats I Agents de brevets et de marques de commerce
Vancouver I Calgary I Toronto I Ottawa I Montreal I Hong Kong I mcmillan.ca
389
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Court File No. CV- I 4- I 0686-00CL
ONTARIO SUPERIOR COURT OF JUSTICE- COMMERCIAL LIST
IN THE MATTER OF THE RECEIVERSIDP OF SEAFIELD RESOURCES LTD,
AFFIDAVIT OF David Beltran (sworn JANUARY 21, 2016)
I, DAVID BELTRAN, of the City of Bogota, Distrito Capital, Colombia,
MAKE OATH AND SAY:
I. I am a lawyer at the law firm of Philippi Prietocarrizosa & Urfa ("PPU"),
Colombian counsel to KPMG Inc., in its capacity as the Court-appointed receiver (the
"Receiver") of Seafield Resources Ltd. ("Seafield") and, as such, I have knowledge of
the matters hereinafter deposed to. Unless I indicate to the contrary, the facts herein are
within my personal knowledge and are true. Where l have indicated that I have obtained
facts from other sources, l believe those facts to be true.
2. On September 9, 20 I 4, the Receiver was appointed as receiver of all of the
assets, undertakings and properties of Seafield (the "Property").
3. This Affidavit is sworn in support of a motion to be made in these proceedings
seeking, among other things, approval of the fees and disbursements of PPU in its
capacity as Colombian legal counsel to the Receiver, for the period September 12, 2014
to February I, 2016 (the "Period"). The background information relating to the motion
for approval of the fees and disbursements of PPU is summarized in the Receiver's
Second Report to the Court (the "Second Report").
4. In these proceedings, during the Period, PPU has advised the Receiver and has
been otherwise engaged with respect to a variety of matters including:
391
'
,
(a)
-2-
Adv
isin
g th
e R
ecei
ver
in r
egar
ds t
o re
cogn
ition
in
Col
ombi
a of
the
Rec
eive
r as
the
sol
e sh
areh
olde
r re
pres
enta
tive
of S
eafi
eld
in r
espe
ct o
f
its w
holly
ow
ned
subs
idia
ry, M
iner
a Se
afie
ld S
.A.S
. ("M
iner
a");
(b)
Adv
isin
g th
e R
ecei
ver
as t
he p
oten
tial
impl
icat
ions
und
er C
olom
bia
law
of ce
rtain
res
olut
ions
pas
sed
by t
he m
anag
emen
t of M
iner
a an
d Se
afie
ld
on th
e ev
e of
Sea
fiel
d's
inso
lven
cy;
(c)
Adv
isin
g th
e R
ecei
ver
on c
orpo
rate
law
rul
es in
Col
ombi
a as
they
app
ly
to S
eafie
ld a
nd M
iner
a;
(d)
(e)
(f)
Adv
isin
g th
e R
ecei
ver
on th
e pr
ogre
ss o
f cer
tain
reg
ulat
ory
proc
eedi
ngs
in C
olom
bia
in r
elat
ion
to M
iner
a an
d its
for
mer
man
agem
ent;
Adv
isin
g th
e R
ecei
ver o
n th
e re
gula
tory
and
tax
impl
icat
ions
in C
olom
bia
of a
sale
or M
in er
a;
Rev
iew
ing
RM
B's
sec
urity
in th
e sh
ares
ofM
iner
a un
der C
olom
bian
law
;
(g)
Adv
isin
g th
e R
ecei
ver a
s to
the
exis
tenc
e of
any
regu
lato
ry o
blig
atio
ns o
f
Seaf
ield
in C
olom
bia;
and
(h)
Adv
isin
g th
e R
ecei
ver
on o
ther
mat
ters
of
Col
ombi
an l
aw d
urin
g th
e
rece
iver
ship
per
iod.
5.
Dur
ing
the
Perio
d,
PPU
in
curr
ed
prof
essi
onal
fe
es
in
the
amou
nt
of
appr
oxim
atel
y U
SD $
205,
500.
43.
This
fig
ure
incl
udes
fee
s th
at P
PU h
as i
nvoi
ced
to
KPM
G in
c. f
or it
s se
rvic
es u
p to
Nov
embe
r 31,
201
5 as
wel
l as
an e
stim
atio
n of
the
fees
that
PPU
will
inc
ur d
urin
g th
e pe
riod
from
Dec
embe
r I,
2015
to F
ebru
ary
I, 2
016.
6. D
urin
g th
e Pe
riod,
PPU
als
o in
curr
ed o
ut o
f poc
ket d
isbu
rsem
ents
in th
e am
ount
ofU
SD $
11,5
56.2
6, in
clus
ive
of al
l app
licab
le ta
xes.
7.
In th
e co
urse
of p
erfo
rmin
g its
dut
ies,
PPU
per
sonn
el h
ave
expe
nded
709
.4 h
ours
durin
g th
e Pe
riod.
Atta
ched
her
eto
and
mar
ked
as E
xhib
it "
A"
to t
his
affid
avit
is a
392
,
-3 -
sum
mar
y of
the
pers
onne
l, ho
urs,
and
hour
ly ra
tes
char
ged
by P
PU d
urin
g th
e Pe
riod
in
resp
ect o
f the
se p
roce
edin
gs. T
he a
vera
ge h
ourly
rat
e of
all o
f the
Rec
eive
r's p
erso
nnel
bille
d in
con
nect
ion
with
the
ser
vice
s pe
rfor
med
dur
ing
the
Perio
d is
appr
oxim
atel
y
USD
$26
6.
8. C
opie
s of
the
acco
unts
ren
dere
d by
PPU
in
resp
ect
of w
ork
perf
orm
ed o
n th
is
mat
ter
from
Sep
tem
ber
12, 2
014
to F
ebru
ary
I, 20
16 (
incl
udin
g es
timat
es to
dis
char
ge)
are
atta
ched
as
Exh
ibit
"B"
. Exh
ibit
"B"
has
been
reda
cted
to o
mit
any
conf
iden
tial a
nd
priv
ilege
d in
form
atio
n. T
o th
e be
st o
f my
know
ledg
e, t
he a
ccou
nts
at E
xhib
it "B
" ar
e
accu
rate
and
cor
rect
.
9. Th
e fe
es w
ere
char
ged
at th
e fir
m's
stan
dard
app
licab
le lo
cal
offic
e bi
lling
rate
s
in e
ffec
t fro
m t
ime
to ti
me.
Dis
burs
emen
ts w
ere
char
ged
in a
mou
nts
that
wer
e le
ss th
an
or e
qual
to
stan
dard
cha
rges
in
acco
rdan
ce w
ith t
he f
irm's
disb
urse
men
t po
licy
for
clie
nts.
I ver
ily b
elie
ve th
at th
e tim
e ex
pend
ed a
nd th
e le
gal
fees
cha
rged
are
rea
sona
ble
in lig
ht o
f the
ser
vice
and
pre
vaili
ng m
arke
t rat
es fo
r leg
al s
ervi
ces
of th
is na
ture
.
SWO
RN
BE
FOR
E M
E a
t the
City
of
Bog
ota,
Dis
trito
Cap
ital,
Col
ombi
a, o
n Ja
nuar
y 21
, 201
6.
Com
mis
sion
er fo
r tak
ing
affid
avits
....
'tJcWv
v CA. fL
(z_~1v&)\O
1P t 4
c.~.~
t\£ c
:;,5
DA
VID
BE
LT
RA
N
393
,
PR
ES
EN
TAC
I6N
PE
RS
ON
AL
AU
TEN
TIC
AC
I6N
FIR
MA
Y H
UE
LLA
Co
mpa
reci
6 pe
rson
alm
ente
qui
en d
ijo ll
amar
se:
BE
LTR
AN
DA
VIL
A D
AV
ID A
NTO
NIO
id
entif
icad
o co
n:
c.c.
8072
6370
y
con
Ia T
arje
la P
rofe
sion
al d
e ab
ogad
o N
o.
a qu
ien
se
le au
tent
icaro
n pa
r su
so
llcllu
d, l
anlo
Ia
firm
a co
mo
Ia
huel
la
pues
tas
par e
lla (e
l) en
est
e do
cum
ento
.
Sago
la D
.C. 2
1 de
Ene
ro d
e 20
16
~d~{L
COsO
l-16
1~ l
l\CA
_~\~
394
This is Exhibit "A"
to the Affidavit of David Beltran,
sworn before me, this zoth day
of January, 2016.
A Commissioner, etc.
PRESENTACI6N PERSONAL AUTENTICACION FIRMA Y HUELLA
Compareci6 personalmente qui en dijo Uamarse:
BELTRAN DAVILA DAVID ANTONIO identificado con: c.c. 80726370 y con Ia Tarjeta Profesional de abogado No. a quien se re autenticaron per su solicitud. tanto Ia firma como Ia huella puestas por ella (el) en este documento.
Bogota D.C. 21 de Enero de 2016 jgu67yug6bgb6gb7
~QJJA_rA/L lC 60 ~ U6'l-t{) 1\J I ~ q ~t\.e c-:..:s.
395
RMB Seafield Resources Inc. PPU Time Summary for the period August 8, 2014 to February 2, 2016
Name Rate Hours Fee ($) in USD Fee ($) in CAD'
JORGE E Dl TERLIZZI 395 25,83 10.204,17 14.439,92
HECTOR HERNANDEZ 390 24,08 9.392,50 13.291,33
FELIPE CUBEROS 390 36,58 14.267,50 20.189,94
HECTOR HERNANDEZ 385 3,00 1.155,00 1.634,44
FELIPE CUBEROS 385 84,17 32.404,17 45.855,14
CESAR JOSE BARRERO 340 2,50 850,00 1.202,84
MARGARITA LORDUY 310 2,33 723,33 1.023,59
ANDRES MILLAN 285 8,50 2.422,50 3.428,08
MARIO ALONSO PEREZ 285 1,58 451,25 638,56
CAROLINA PORRAS 275 52,33 14.391,67 20.365,65
CRISTINA MOURFE VIECO 265 29,33 7.773,33 11.000,04
DAVID ANTONIO BELTRAN DAVILA 265 107,92 28.597,92 40.468,91
CAROLINA PORRAS 265 45,25 11.991,25 16.968,82
MARIA FERNANDA OLANO 265 1,17 309,17 437,50
DAVID ANTONIO BELTRAN DAVILA 255 101,50 25.882,50 36.626,33
JUAN GUILLERMO MENDOZA 255 0,33 85,00 120,28
LAURA REY PIZANO 245 2,33 571,67 808,97
DIANA ZULETA 245 7,08 1.735,42 2.455,79
PAULA BURITICA 225 19,25 4.331,25 6.129,15
DIANA ZULETA 225 2,67 600,00 849,06
HECTOR FALLA 225 1,00 225,00 318,40
PAULA BURITICA 195 13,50 2.632,50 3.725,25
JUAN JARAMILLO 195 1,83 357,50 505,90
MATEO SINISTERRA 175 0,17 29,17 41,27
JORGE ANDRES BEETAR 150 60,67 9.100,00 12.877,41
JULIANA BARRERA 150 0,50 75,00 106,13
396
ALEJANDRO MEDINA 125 12,50 1.562,50 2.211,09
ANA MARIA BEJARANO 125 0,58 72,92 103,18
ANA IREGUI 115 20,00 2.300,00 3.254,73
CAMILA GOMEZ 115 2,83 325,83 461,09
ANA MARIA BEJARANO 115 0,33 38,33 54,25
CARLOS RODRIGUEZ SCHRADER 115 14,08 1.619,58 2.291,87
EMILIA ARANGO 115 0,50 57,50 81,37
CATALINA UCROS 115 2,00 230,00 325,47
SUSANA DENNIS 75 1,33 100,00 141,51
ANA IREGUI 75 19,83 1.487,50 2.104,96
Total 709,42 188.352,92 266.538,21
Add: Nov 21, 2015- Dec 23, 2015 4.100,00 5.801,91
Add: January 2016 Estimate 13.000,00 18.396,30
Revised Total 205.500,43 290.803,65
Expense Summary For the period August 8, 2014 to February 2, 2016
Type Amount ($) in Amount ($) in USD CAD'
Misc. Expenses 11.556,26 16.3S3,26
Total 11.556,26 16.353,26
Invoice Total 217.056,69 307.156,92
Note 1 PPU invoices were converted from USD to CAD at 1.4151.
397
This is Exhibit "B"
to the Affidavit of David Beltran,
sworn before me, this 201h day
of January, 2016.
A Commissioner, etc.
PRESENTACION PERSONAL AUTENTICACION FIRMA Y HUELLA
Compareci6 personalmente quien dijo !!amarse:
BELTRAN DAVILA DAVID ANTONIO identificado con: c.c. 80726370 y con Ia Tarjeta Profesional de abogado No. a qui en se le autenti caron par su solicitud, tanto Ia firma como Ia huella puestas por ella (el) en este documento.
Bogota D.C. 21 de Enero de 2016 jgu67yug6bgb6gb7
i)UJJJA-Cc__2lo"\ lQ \l\ 1\&}\C:_,I.:/~~
HiJF
398
prietocarrizosa N.I.T. 800.240.450-2
SENORES I Sirs KPMG LLP NIT: 444446993 ATN: PHILIP J REYNOLDS BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON M5H 2S5 TORONTO
REF: MINERA SEAFIELD SAS
DESCRIPCION/ Description
Honorarios Profesionales I Legal Services HONORARIOS/ Services IVA I Sales Tax
TOTAL HONORARIOS I Total Services
SUBTOTAL I.V.A 16,00 % TOTAL FACTURA I Total Invoice
. Pay Directly by Fed Wire ABA or FW 066010720 Banco de Bogota Miami Agency- Miami, Florida Swift Code or Bank Identifier Code (SIC}: BBOGUS3M Final Beneficiary: Prieto y Carrizosa S.A. Account No.: 61648 Please Include invoice Number
FACTURA DE VENT A No./ Invoice No.
57752
FECHA/ Date CIUDAD I City
24 de septiembre de 2014 BOGOTA, D.C.
SOMOS GRANDES CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001 Somes Autoretenedores - Resoluci6n 02613 del 22 de Marzo de 2006
Responsables IVA Regimen ComUn Actividad Econ6mica 6910
Agente retenedor de IVA e ICA Favor no efectuar retenci6n por IVA e ICA
Responsables ICA Bogota : Actividad Econ6mica 6910 - 1 Tarifa 6.9 por mil
MONEDA/ Currency
DOLLARS
10.557,50 1.689,20
12.246,70
10.557,50 1.689,20
12.246,70
. .. ------
• .
.
•
FACTURACION GENERADA POR COMPUTADOR ACOGIENDOSE AL ARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320000950291 DE FECHA: 18/10/2012. NUMERACION DESDE: 47.423 HASTA: 65.000
lmpreso por PRIETO & CARRIZOSA S.A.- Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
399
P.3glna 1 de 4
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 57.752
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
12/09/2014 JORGE E. Dl TERLIZZI
12/09/2014 CRISTINA MOURE VIECO
12/09/2014 MARGARITA LORDUY
13/09/2014 ANAIREGUI
15/09/2014 JORGE E. Dl TERLIZZI
15/09/2014 JORGE E. Dl TERLIZZI
15/09/2014 CRISTINA MOURE VIECO
15/09/2014 LAURAREY PIZANO
16/09/2014 CRISTINA MOURE VIECO
16/09/2014 JORGE E. 01 TERLIZZI
Nivel/ Level
SOCI03
Descripcl6n I Description
ASOCIADO 9 REVISION OF THE EMAILS EXCHANGED
ASOCJADO 12 ·A
PARALEGAL
SOCIO 3 CONFERENCE CALL WITH KPMG,-
SOCIO 3
ASOCIADO 9
ASOCIAD07
ASOCIAD09
SOCIO 3
Tiempo /Time
03:00
01:50
02:20
00:40
01:00
01:30
01:20
01:30
01:10
02:30
Tarifa /Rate
Facturable I Billable
395,00 Si
265,00 Si
310,00 Si
75,00 Si
395,00 Si
395,00 Si
265,00 Sl
245,00 Si
265,00 Si
395,00 Si
Valor I Amount USA
1.185,00
485,83
723,33
50,00
395,00
592,50
353,33
367,50
309,17
987,50
400
Pclgina 2 de 4
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 57.752
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
17/09/2014 CRISTINA MOURE VIE CO
17/09/2014 CRISTINA MOURE VI EGO
17/09/2014 JORGE E. Dl TERLIZZI
18/09/2014 JORGE E. Dl TERLIZZI
18/09/2014 ANA IREGUI
18/09/2014 SUSANA DENNIS
18/09/2014 CRISTINA MOURE VI EGO
18/09/2014 CRISTINA MOURE VIECO
19/09/2014 JORGE E. Dl TERLIZZI
19/09/2014 ANA IREGUI
Nivel/ Level
ASOCIADO 9
ASOCIADO 9
SOCIO 3
SOCIO 3
PARALEGAL
PARALEGAL
ASOCIADO 9
ASOCIADO 9
SOCIO 3
Oescripci6n I Description
FOLLOW UP ON SEVERAL ISSUES (DRAFTING DOCUMENTS, CONF CALLS, CROSS EMAILING)
PARALEGAL PREPARATION AND SENDING
Tiempo fTime
01:20
01:30
03:30
02:30
04:10
01:20
02:40
00:40
00:20
01:30
Tarifa /Rate
Facturable I Billable
265,00 Si
265,00 Si
395,00 Si
395,00 Si
75,00 Si
75,00 Si
265,00 Si
265,00 Si
395,00 Si
75,00 Si
Valor I Amount USA
353,33
397,50
1.382,50
987,50
312,50
100,00
706,67
176,67
131,67
112,50
401
Pcigina 3 de 4
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 57.752
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
Nivel/ Level
DescripciOn I Description Tiempo Tarifa Facturable
19/09/2014 ANAIREGUI
19/09/2014 CRISTINAMOURE VIECO
/Time /Rate I Billable
PARALEGAL REVIEW AND ADJUSTMENTS T- 00:40
ASOCIAD09 01:30
Sub total Case I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
75,00 Sl
265,00 Si
Valor/ Amount USA
50,00
397,50
10.557,50
10.557,50
0,00
10.557,50
402
prietocarrizosa Resumen de Tiempos/Summary of Invoice No: F-57.752/14
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa Abogado I Lawyer
Tarifa 75,00 USA
ANAIREGUI
SUSANA DENNIS
Tarifa 245,00 USA
LAURA REY PIZANO
Tarifa 265,00 USA
CRISTINA MOURE VIECO
Tarifa 310,00 USA
MARGARITA LORDUY
Tarifa 395,00 USA
JORGE E. Dl TERLIZZI
Tarifa I Rate
Total Caso
Total
75 75
245
265
310
395
llempo I llme
07:00 01:20
01:30
12:00
02:20
14:20
38:30
38:30
Pc3gina 4 de 4
USA
525,00 100,00
367,50
3.180,00
723,33
5.661,67
10.557,50
10.557,50
403
Philippi Prietocarrizosa &uri a SENORES I Sirs KPMG LLP NIT: 444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENT A No./ Invoice No.
75105
FECHA I Date CIUDAD I City
BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON MSH 255
january, 23rd 2015 BOGOTA, D.C.
TORONTO
REF: MINERA SEAFIELO SAS
SU REF I Your Ref:
Description
Honorarios Profesionales I Legal Services HONORARIOSI Services IVA I Sales Tax
SOMOS GRANDES CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001 Somes Autoretenedores • Resolucl6n 02613 del 22 de Marzo de 2006
Responsables IVA R9glmen ComUn Actlvldad Econ6mica 6910
Agente retenedor de IVA e ICA Favor no efectuar retenci6n por IVA e ICA
Responsables ICA Bogota: Actlvldad Econ6mica 6910- 1 Tarifa 6.9 por mil
DOLLARS
TOTAL HONORARIOS I Total Services
24.208,32 3.873,33
28.081,66
Gastos lncurridos I Legal Expenses GASTOS I Expenses IVA I Sales Tax TOTAL GASTOS I Total Expense
SUBTOTAL I.V.A 16,00 % TOTAL FACTURA I Total Invoice
7.656,41 1.225,03 8.881,43
31.864,73 5.098,36
36.963,09
FACTURACION GENERADA POR COMPUTADOR ACOGIENDOSE AL ARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 06/01/2015. NUMERACION DESDE: 75.001 HAST A: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URI A S.A.S. · Nrr. 800.240.450·2
Cra. 9 No. 74-08 Otic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
•
404
Pagina 1 de 10
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 75.105
Seiiores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Nivel/ Descrlpci6n I Description Tiempo Tarifa Facturable Valor I Date Lawyer Level /Time /Rate I Billable Amount USA
01/12/2014 HECTOR SOCIO WORK SESSION WITH CAROLINA PORRAS AND 01:00 385,00 Si 385,00 HERNANDEZ CONFERENCE CALL WITH THE CLIENT.
01/12/2014 CAROLINA PORRAS ASOCIAD09 01:30 265,00 Si 397,50
01/1212014 JORGE ANDRES ASOCIAD03 01:00 150,00 Si 150,00 BEETAR
01/12/2014 JUAN GUILLERMO 00:20 255,00 Si 85,00 MENDOZA
01/1212014 DAVID ANTONIO ASOCIADO 8 01:10 255,00 Si 297,50 BELTRAN DAVILA
01/1212014 FELIPE CUBERO$ SOCI02 E-MAIL EXCHANGE. 01:10 385,00 Si 449,17
02/12/2014 CAROLINA PORRAS ASOCIAD09 01:30 265,00 Si 397,50
02/1212014 DAVID ANTONIO ASOCIADO 8 01:30 255,00 Si 382,50 BELTRAN DAVILA
01:40 265,00 Si 441,67
04112/2014 FELIPE CUB EROS SOCIO 2 01:00 385,00 Si 385,00
04/1212014 PAULA BURITICA ASOCIADO 5 01:20 195,00 Si 260,00
405
Pagina 2 de 10
Philippi Prietocarrizosa &Uri a DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 75.105
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
04/12/2014 DAVID ANTONIO BELTRAN DAVILA
05/12/2014 DAVID ANTONIO BELTRAN DAVILA
05/1212014 FELIPE CUBERO$
05/12/2014 CAROLINA PORRAS
08/12/2014 DAVID ANTONIO BELTRAN DAVILA
08/12/2014 CAROLINA PORRAS
08/12/2014 DIANA ZULETA
09/12/2014 CAROLINA PORRAS
09/12/2014 HECTOR HERNANDEZ
09/12/2014 DAVID ANTONIO BELTRAN DAVILA
Nlvel/ Level
ASOCIAD08
800102
ASOCJAD09
ASOCIADOB
ASOCIAD09
ASOCIAD06
ASOCIAD09
SOCIO
ASOCIAD08
Descripci6n I Description
AND COMPLETION OF --INTERNAL ANALYSIS
LAST VERSION
- I CAROLINA PORRAS. REVIEW OF MAILS FROM THE CLIENT.
Tiempo Tarifa Facturable /Time /Rata I Billable
02:40 255,00 Sl
02:20 255,00 Sl
01:00 385,00 Si
01:20 265,00 Si
00:50 255,00 Sl
04:40 265,00 Si
02:00 225,00 Sl
00:20 265,00 Si
01:10 385,00 Si
03:10 255,00 Sl
Valor I Amount USA
680,00
595,00
385,00
353,33
212,50
1.236,67
450,00
88,33
449,17
807,50
•
406
Pclgina 3 de 10
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 75.105
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado/ Lawyer
10/12/2014 PAULA BURITICA
10/12!2014 JORGE ANDRES BEETAR
10/1212014 JORGE ANDRES BEETAR
10/1212014 CAROLINA PORRAS
10/1212014 FELIPE CUB EROS
10/1212014 PAULA BURITICA
10/12/2014 DAVID ANTONIO BELTRAN DAVILA
Nlvel/ Level
ASOCIAD05
ASOCIAD03
ASOCIADO 9
SOCI02
ASOCIAD05
Descripci6n I Description
AND
Tlempo Tarifa Facturable /Time /Rate I Billable
385,00
01:10 195,00 Sl
02:00 150,00 s;
01:40 150,00 s;
02:20 265,00 s;
03:30 385,00 Sl
02:00 195,00 Si
03:30 255,00 Si
Valor I Amount USA
227,50
300,00
250,00
618,33
1.347,50
390,00
892,50
407
Pci.gina 4 de 10
Philippi Prietocarrizosa &urfa DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 75.105
Seftores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado/ Date Lawyer
11/1212014 FELIPE CUBERO$
11/12/2014 CAROLINA PORRAS
12/12/2014 CAROLINA PORRAS
12/12/2014 FELIPE CUBERO$
15/12/2014 ANA MARIA BEJARANO
15/12/2014 CAROLINA PORRAS
15/12/2014 JORGE ANDRES BEETAR
16/1212014 JORGE ANDRES BEETAR
16112/2014 JORGE ANDRES BEETAR
16/12/2014 PAULA BURITICA
16/12/2014 CAROLINA PORRAS
16/12/2014 FELIPE CUBEROS
Nlvel/ Descrlpci6n I Description Level
SOCI02 INTERNAL FOLLOW UP AND COORDINATIONS
ASOCIAD09
ASOCIAD09
SOCI02 INTERNAL FEED BACK IN CONNECTION WITH
ASOCIADO 1 REVIEW OF
ASOCIAD09
ASOCIAD03
ASOCIAD03
ASOCIAD09 ~VIEWO~
SOCI02
Tlempo Tarifa Facturable Valor I /Time /Rate I Billable Amount USA
00:20 385,00 Sl 128,33
10:00 265,00 Sl 2.650,00
00:20 265,00 Sl 88,33
00:30 385,00 Sl 192,50
00:40 115,00 Sl 76,67
01:50 265,00 Sl 485,83
01:30 150,00 Sl 225,00
02:10 150,00 Sl 325,00
01:10 150,00 Si 175,00
00:40 195,00 Sl 130,00
00:20 265,00 Sl 88,33
00:20 385,00 Sl 128,33
408
Pclgina 5 de 10
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 75.105
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
17/1212014 ANDRES MILLAN
17/12/2014 PAULA BURITICA
17/1212014 CAROLINA PORRAS
Nlvel/ Level
ASOCIADO 11
ASOCIADOS
Descrlpci6n I Description
17/12/2014 ANA MARIA ASOCIADO 1 BEJARANO
18/12/2014 FELIPE CUB EROS SOCIO 2 INTERNAL DISCUSS.IOiiNiiSii'lliCIIiOiiOiiRiiDiilNiiAiiTiilOiiNiiSiiAiiNjD E-MAIL EXCHANGE -
Tiempo Tarifa Facturable /Time /Rate I Billable
00:40 285,00 Si
03:30 195,00 Sl
01:20 265,00 Sl
00:50 115,00 Si
01:00 265,00 Si
00:30 385,00 Si
Valor I Amount USA
190,00
682,50
353,33
95,83
265,00
192,50
409
Pilgina 6 de 10
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 75.105
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
18/1212014 PAULA
Nivel/ Level
18/12/2014 ANDRES MILLAN ASOCIADO 11
19/1212014 CAROLINA PORRAS ASOCIADO 9
22/12/2014 CAROLINA PORRAS ASOCIADO 9
22112/2014 PAULA BURITICA ASOCJADO 5 I
23/1212014 CAROLINA PORRAS
Descripci6n I Description
2311212014 JORGE ANDRES BEETAR
ASOCIAD03 ___..
Tiempo Tarifa Facturable /Time /Rate I Billable
195,00
02:30 285,00 81
00:20 265,00 Si
01:20 265,00 81
01:50 195,00 81
02:30 265,00 Si
02:00 150,00 Si
Valor I Amount USA
712,50
88,33
353,33
357,50
662,50
300,00
410
Pilgina 7 de 10
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 75.105
Seflores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Nivel/ Descripcl6n I Description Tiempo Tarifa Facturable Date Lawyer Level /Time
2311212014
26/12/2014 CAROLINA PORRAS
26/12/2014 HECTOR SOCIO REVIEW AND ANALYSIS 0 00:50 HERNANDEZ
29/1212014 PAULA BURITICA ASOCIAD05 01:00
29/12/2014 CAROLINA PORRAS ASOCIADO 9 INTERNAL ANALYSIS 00:10
30/1212014 CAROLINA PORRAS ASOCIADO 9 00:20
Sub total Caso I Matter. MINERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
/Rate I Billable
385,00
265,00 Si
385,00 Si
195,00 Sl
265,00 Si
265,00 Sl
Valor I Amount USA
220,83
320,83
195,00
44,17
88,33
24.208,30
24.208,30
0,00
24.208,30
411
Philippi Prietocarrizosa &uria
Senores I Messrs: KPMG LLP Case I Matter: MIN ERA SEAFIELD SAS
Director del proyecto I Attendant: JORGE E. Dl TERLIZZI
Tipo Gasto /Expenses Fecha I Proveedor I Provider Documento I Date Invoice
GASTOS DE COR REO I 17/09/2014 AEAOVIAS DEL FT00025620 AIRMAIL EXPENSES CONTINENTE AMEAICANO
GASTOS DE COR REO I 17/09/2014 AEROVIAS DEL FT00025620 AIRMAIL EXPENSES CONTINENTE AMEAICANO
GASTOS DE 04/11/2014 I.R.C.C. LTDA. 417582 RESTAURANTE GASTOS DE COR REO I 12/11/2014 AEROVIAS DEL FT00026712 AIRMAIL EXPENSES CONTINENTE AMERICANO
ASESORIA JURIDICA 25/1112014 JORGE IVAN GIRALDO 0712 (CO·CE) GOMEZ GASTOS DE TELEFONO 30/11/2014 PRIETO & CARRIZOSA SA T74220 YFAX --- 01/12/2014 --- 043890856
GASTOS DE TAXIS Y 01/12/2014 CAJA MENOR P&C 24900 BUSES
GASTOS DE TAXIS Y 01112/2014 CAJA MENOR P&C 24835 BUSES
GASTOS DE 09/1212014 MARIA TERESA LARA R. 5608 TRADUCCIONES
ASESORIA JURIDICA 09/12/2014 SAMPEDRO & TORRES 1479 (CO-CE) ASESORES LEGALES
S.A.S.
GASTOS DE PASAJES 11/12/2014 WORLD TOURS L TDA. 612029 AEREOS NACIONALES
GASTOS DE TAXIS Y 11/1212014 VARIOS 11122014 BUSES
Pilgina 8 de 10
ANEXO DE GASTOS FACTURAI EXPENSE INVOICE: 75.105
Observaclones I Notes
CONSUMOS TELEFONICOS (CEL, DDN, DDI): 01/11/2014 A 30/11/2014
LV#4596: TIQUETES AEREOS EN VIAJE DRA CAROLINA PORRAS I
LV#4596: TAXIS EN VIAJE DRA CAROLINAPORRASIIIilill•
Valor I Amount USA
7,58
7,58
10,47
7,58
236,21
13,05
1,81
10,97
4,22
394,55
6.327,11
248,32
22,36
Subtotal Caso I Matter. MIN ERA SEAFIELD SAS 7.291,81
412
GASTOS I EXPENSES IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GASTO ADMIN./ ADMIN. EXPENSES IVA GASTOS ADMIN./ VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
Pcigina 9 de 10
7.291,82 1.166,69 8.458,51
364,59 58,33
422,93
8.881,43
413
Pagina 10 de 10
Resumen de Tiempos/Summary of Invoice No: F-75.105/15
Philippi Prietocarrizosa &urfa Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa Abogado I Lawyer
Tarifa 115,00 USA
ANA MARIA BEJARANO
Tarifa 150,00 USA
JORGE ANDRES BEETAR
Tarifa 195,00 USA
PAULA BURITICA
Tarifa 225,00 USA
DIANAZULETA
Tarifa 255,00 USA
DAVID ANTONIO BELTRAN DAVILA JUAN GUILLERMO MENDOZA
Tarifa 265,00 USA
CAROLINA PORRAS
Tarifa 285,00 USA
ANDRES MILLAN
Tarifa 385,00 USA
HECTOR HERNANDEZ FELIPE CUBEROS
Tarifa 1 Rate Tiempo I Time
Total Caso
Total
115 01:30
150 11:30
195 12:30
225 02:00
255 15:10 255 00:20
265 33:40
285 03:10
385 03:00 385 11:40
94:30
94:30
USA
172,50
1.725,00
2.437,50
450,00
3.867,50 85,00
8.921,64
902,50
1.155,00 4.491,66
24.208,30
24.208,30
414
Philippi Prietocarrizosa &uri a SE~ORES I Sirs KPMG LLP NIT:444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENTA No./ Invoice No.
75556
FECHA/ Date CIUDAD I City
BOGOTA, D.C. BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON M5H 2S5
february, 2oth 2015
TORONTO
REF: MIN ERA SEAFIELD SAS
SU REF I Your Ref:
DESCRIPCION/ Description
Honorarios Profesionales I Legal Services HONORARIOS/ Services IVA I Sales Tax
TOTAL HONORARIOS I Total Services
SUBTOTAL I.V.A 16,00 % TOTAL FACTURA I Total Invoice
Pay Directly by Fed Wire ABA or FW 066010720 Banco de Bogota Miami Agency- Miami, Florida Swift Code or Bank Identifier Code (BIC): BBOGUS3M Final Beneficiary: PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. Account No.: 61648 Please Include invoice Number
PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800,240.450-2 SOMOS GRANDES CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001
SomosAutoretenedores- Resoluci6n 02613 del 22 de Marzo de 2006 Responsables IVA Regimen ComUn
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n par IVA e ICA Responsables ICA Bogota : Actividad Econ6mlca 6910 - 1 Tarifa 6.9 por mil
MONEDAI Currency
DOLLARS
5.082,92 813,27
5.896,19
5.082,92 813,27
5.896,19
FACTURACI6N GENERADA POR COMPUTADOR ACOGIENDOSE ALARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 06/01/2015. NUMERACION DESDE: 75.001 HASTA: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. -Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
415
Pagina 1 de 3
Philippi Prietocarrizosa &Uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 75.556.
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Date Lawyer
02101/2015 CAROLINA PORRAS
06/01/2015 DAVID ANTONIO BELTRAN DAVILA
06/01/2015 DAVID ANTONIO BELTRAN DAVILA
07/01/2015 DIANA ZULETA
09/01/2015 DAVID ANTONIO BELTRAN DAVILA
13/01/2015 FELIPE CUBEROS
14/01/2015 FELIPE CUBERO$
14/01/2015 DAVIDANTONIO BELTRAN DAVILA
19/01/2015 FELIPE CUBEROS
19/01/2015 CAROLINA PORRAS
Nivel/ Level
ASOCIADO 10
ASOCIADO 9
ASOCIADO 9
ASOCIAD07
SOCIO 2
SOCIO 2
ASOCIADO 9
SOCIO 2
ASOCIADO 10
Descripci6n I Description
INTERNAL DISCUSSION REGARDING --PREPARE.
INTERNAL REVIEW AND DISCUSSION OF
Tlempo Tarifa Facturable /Time /Rate I Billable
02:30 265,00 Si
02:10 255,00 Si
01:10 255,00 Si
00:40 225,00 Si
01:30 255,00 Si
00:40 385,00 Si
00:40 385,00 Si
00:50 255,00 Si
00:20 385,00 Si
02:50 265,00 Si
Valor I Amount USA
662,50
552,50
297,50
150,00
382,50
256,67
256,67
212,50
128,33
750,83
416
P.3gina 2 de 3
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 75.556
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Date Lawyer
20/01/2015 DAVID ANTONIO BELTRAN DAVILA
20/01/2015 FELIPE CUB EROS
23/01/2015 CAROLINA PORRAS
26/01/2015 PAULA BURITICA
29/01/2015 CAROLINA PORRAS
29/01/2015 DAVIDANTONIO BELTRAN DAVILA
30/01/2015 ANA IREGUI
30/01/2015 PAULA BURITICA
Nivel/ Level
ASOCIADO 9
SOCIO 2
ASOCIADO 10
ASOCIADO 10
ASOCIADO 9
ASOCIADO 1
Descripcl6n I Description Tiempo rrime
02:00
INTERNAL FEEDBACK WITH RESPECT TO 00:30
00:20
00:45
00:55
00:30
00:40
00:15
Sub total Caso I Matter. MINERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
Tarifa Facturable /Rate I Billable
255,00 Si
385,00 Si
265,00 Si
195,00 Si
265,00 Si
255,00 Si
115,00 Si
195,00 Si
Valor I Amount USA
510,00
192,50
88,33
146,25
242,92
127,50
76,67
48,75
5.082,92
5.082,92
0,00
5.082,92
417
Philippi Prietocarrizosa &uri a
Tarifa Abogado I Lawyer
Tarifa 115,00 USA
ANAIREGUI
Tarifa 195,00 USA
PAULA BURITICA
Tarifa 225,00 USA
DIANA ZULETA
Tarifa 255,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 265,00 USA
CAROLINA PORRAS
Tarifa 385,00 USA
FELIPE CUBEROS
Resumen de Tiempos/Summary of Invoice No: F-75.556/15
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa I Rate
115
195
225
255
265
385
Total Caso
Total
liempo I lime
00:40
01:00
00:40
08:10
06:35
02:10
19:15
19:15
Pi3gina 3 de 3
USA
76,67
195,00
150,00
2.082,50
1.744,58
834,17
5.082,92
5.082,92
418
Philippi Prietocarrizosa &uria SENORES I Sirs KPMG LLP NIT: 444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENT A No.I Invoice No.
75769
FECHAI Date CIUDAD I City
march, 9th 2015 BOGOTA, D.C. BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON M5H 255 TORONTO
REF: MIN ERA SEAFIELD SAS
SU REF I Your Ref:
DESCRIPCIONI Description
Honorarios Profesionales I Legal Services HONORARIOSI Services
IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses IVA I Sales Tax
TOTAL GASTOS I Total Expense
SUBTOTAL
I.V.A 16,00 %
TOTAL FACTURA I Total Invoice
Pay Directly by Fed Wire ABA or FW 066010720 Banco de. Bogota Miami Agency- Miami, Florida
'Swift Code or Bank Identifier C.ode (SIC): .BBQGU$3M Final Beneficiary: PHILIPPI PR]ETOCARRIZOSA& URIAS.A.S: Account No.: 61648 Please Include invoice Number
PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800.240.450-2 SOMOS GRAN DES CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001
Somas Autoretenedores- Resoluci6n 02613 del 22 de Marzo de 2006 Responsables IVA Regimen ComUn
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n par IVA e ICA Responsables ICA Bogota :Actividad Econ6mlca 6910-1 Tarifa 6.9 por mil
MONEDAI Currency
DOLLARS
6.831,66 1.093,07
7.924,73
109,28 17,49
126,77
6,940,95 1.110,55 8.051,50
FACTURACI6N GENERADA POR COMPUTADOR ACOGIENDOSE ALARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACJON AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 06/01/2015. NUMERACION DESDE: 75.001 HASTA: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URIAS.A.S.- Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
419
Pagina 1 de 5
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 75.769.
Seriores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
02/02/2015 CAROLINA PORRAS
02/02/2015 ANDRES MILLAN
02/02/2015 ANAIREGUI
03/02/2015 DAVID ANTONIO BELTRAN DAVILA
03/02/2015 ANDRES MILLAN
04/02/2015 PAULA BURITICA
04/02/2015 CAROLINA PORRAS
09/02/2015 ANDRES MILLAN
10/02/2015 CAROLINA PORRAS
Nivell Level
ASOCIADO 10
ASOCIADO 11
ASOCIADO 1
ASOCIADO 11
ASOCIADO 6
Descripci6n I Description
ASOCIADO 10 FURTHER COMPLETION AND ADJUSTMENTS ----ASOCIADO 11
ASOCIADO 10 I
Tiempo Tarifa Facturable /Time /Rate I Billable
01:40 275,00 Si
00:35 285,00 Si
00:30 115,00 Si
02:10 265,00 Si
00:20 285,00 Sl
00:30 225,00 Si
00:40 275,00 Si
00:45 285,00 Si
00:20 275,00 Si
Valor I Amount USA
458,33
166,25
57,50
574,17
95,00
112,50
183,33
213,75
91,67
420
P<3gina 2 de 5
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 75.769
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
10/02/2015 ANA IREGUI
10/02/2015 ANDRES MILLAN
11/02/2015 DAVID ANTONIO BELTRAN DAVILA
12/02/2015 DAVID ANTONIO BELTRAN DAVILA
12/02/2015 PAULA BURITICA
12/02/2015 FELIPE CUBEROS
12/02/2015 FELIPE CUBEROS
13/02/2015 HECTOR FALLA
13/0212015 PAULA BURITICA
13/02/2015 DAVIDANTONIO BELTRAN DAVILA
17/02/2015 DAVID ANTONIO BELTRAN DAVILA
Nivel/ Level
ASOCIADO 1
ASOCIADO 9
ASOCIADO 9
ASOCIADO 6
SOCIO 2
SOCIO 2
ASOCIADO 6
ASOCIADO 9
Descripci6n I Description
REVIEW, ANALYSIS, INTERNAL DISCUSSION -
Tiempo Tarifa Facturable Valor I /Time /Rate I Billable Amount USA
01:05 115,00 Si 124,58
00:20 285,00 Si 95,00
01:45 265,00 Sl 463,75
00:50 265,00 Si 220,83
00:10 225,00 Si 37,50
00:20 390,00 Si 130,00
01:40 390,00 Si 650,00
01:00 225,00 Si 225,00
00:15 225,00 Si 56,25
00:30 265,00 Si 132,50
00:30 265,00 Si 132,50
421
Pcigina 3 de 5
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 75.769
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
Nivel/ Level
Descripcl6n I Description Tiempo Tarifa Facturable
17/02/2015 FELIPE CUBEROS SOCJO 2
17/02/2015 CAROLINA ASOCIAOO 10 PORRAS
17/02/2015 ANDRES MILLAN ASOCIADO 11
18/02/2015 FELIPE CUBEROS SOCIO 2
20/02/2015 FELIPE CUBEROS SOCIO 2
25/02/2015 DAVID ANTONIO BELTRAN DAVILA
26/02/2015 DAVID ANTONIO BELTRAN DAVILA
26/02/2015 FELIPE CUBEROS SOCIO 2
27/0212015 DAVIDANTONIO ASOCIADO 9 BELTRAN DAVILA
/Time /Rate I Billable
00:30
00:20
03:00
CALL WITH CLIENT AND MCMILLAN IN 00:10 CONNECTION WlTH
INTERNAL DISCUSSIONS OF IMPLICATIONS 00;20
01:50
01:20
00:50
00:25
Sub total Case I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
390,00 Si
275,00 Si
285,00 Si
390,00 Si
390,00 Si
265,00 Si
265,00 Si
390,00 Si
265,00 Si
Valor I Amount USA
195,00
91,67
855,00
65,00
130,00
485,83
353,33
325,00
110,42
6.831,66
6.831,66
0,00
6.831,66
422
Philippi Prietocarrizosa &urfa
Senores I Messrs: KPMG LLP
Pclgina 4 de 5
ANEXO DE GASTOS FACTURAI EXPENSE INVOICE: 75.769
Caso I Matter: MIN ERA SEA FIELD SAS
Director del proyecto I Attendant:
Tipo Gasto IExpenses Fecha I Date
GASTOS DE 31/1212014 TELEFONO Y FAX
GASTOS DE TAXIS Y 20/01/2015 BUSES
GASTOS DE 21/01/2015 TRADUCCIONES
GASTOS DE 31/01/2015 TELEFONO Y FAX
GASTOS NOTARIALES 12102/2015
GASTOS DE CORREO 13/0212015 I AIRMAIL EXPENSES
JORGE E. Dl TERLIZZI
Proveedor I Provider
PHILIPPI, PRIETOCARRIZOSA & URIAS.A.S
CAJA MENOR P&C
M.A. TRADUCCIONES LTDA.
PHILIPPI, PRIETOCARRIZOSA & URIAS.A.S
NOTARIA41 DE BOGOTA - VIRVIESCAS CALVETE ALIRIO MBE EXPRESS S.A.S.
Documento I Invoice
Observaclones I Notes Valor I Amount USA
T74367 CONSUMOS TELEFONICOS (CEL, 14,33
21772
1804
T74530
143766
B-21183
DON, DDI): 01/12/2014 A 31/12/2014
CONSUMOS TELEFONICOS (CEL, DDN, DDI): 01/01/2015A31/01/2015
Subtotal Caso I Matter. MIN ERA SEAFIELD SAS
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GASTO ADMIN./ ADMIN. EXPENSES
IVA GASTOS ADMIN. I VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
7,80
77,60
0,50
1,17
2,69
104,08
104,08
16,65
120,73
5,20
0,83
6,04
126,77
423
Philippi Prietocarrizosa &uri a
Tarifa Abogado 1 Lawyer
Tarifa 115,00 USA
ANAIREGUI
Tarifa 225,00 USA
HECTOR FALLA
PAULA BURITICA
Tarifa 265,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 275,00 USA
CAROLINA PORRAS
Tarifa 285,00 USA
ANDRES MILLAN
Tarifa 390,00 USA
FELIPE CUBEROS
Resumen de Tiempos/Summary of Invoice No: F-75.769/15
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa I Rate
Total Caso
Total
115
225 225
265
275
285
390
Tlempo I Time
01:35
01:00 00:55
09:20
03:00
05:00
03:50
24:40
24:40
Pilgina 5 de 5
USA
182,08
225,00 206,25
2.473,33
825,00
1.425,00
1.495,00
6.831,66
6.831,66
424
Philippi Prietocarrizosa &uri a SENORES I Sirs KPMG LLP NIT:444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENT A No./ Invoice No.
76544
FECHAI Date CIUDAD I City
BOGOTA, D.C. BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON M5H 2S5
april, 27th 2015
TORONTO
REF: MINERASEAFIELD SAS
SU REF I Your Ref:
DESCRIPCIONI Description
Honorarios Profesionales I Legal SeNices HONORARIOSI Services
IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses IVA I Sales Tax
TOTAL GASTOS I Total Expense
SUBTOTAL I.V.A 16,00 % TOTAL FACTURA I Total Invoice
Pay Directly by Fed Wire ABA or FW 066010720 Banco de Bogota Miami Agency- Miami, Florida Swift Code or Bank Identifier Code (BIG): BBOGUS3M Final Beneficiary: PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. Account No.: 61648 Please Include invoice Number
PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800.240.450-2 SOMOS GRAN DES CONTRIBUYENTES RESOLUCION 11076 DE OICIEMBRE 14 DE 2001
Somas Autoretenedores- Resoluci6n 02613 del 22 de Marzo de 2006 Responsables IVA Regimen ComUn
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n par IVA e ICA Responsables ICA Bogota Actividad Econ6mica 6910 - 1 Tarifa 6.9 por mil
MONEDAI Currency
DOLLARS
12.163,75 1.946,20
14.109,95
545,39 87,26
632,65
12.709,15
2.033,46
14.742,61
FACTURACI6N GENERADA POR COMPUTADOR ACOGIENDOSE AL ARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 06/01/2015. NUMERACION DESDE: 75,001 HASTA: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
425
Philippi Prietocarrizosa &uri a
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
03/03/2015 ANDRES MILLAN
03/03/2015 CAROLINA PORRAS
04/03/2015 DAVID ANTONIO BELTRAN DAVILA
04/03/2015 CAROLINA PORRAS
04/03/2015 FELIPE CUBEROS
05/03/2015 FELIPE CUBEROS
06/03/2015 DAVIDANTONIO BELTRAN DAVILA
09/03/2015 DAVIDANTONIO BELTRAN DAVILA
11/03/2015 DAVIDANTONIO BELTRAN DAVILA
11/03/2015 FELIPE CUBEROS
Nivel/ Level
ASOCIADO 11
ASOCIADO 10
ASOCIADO 9
ASOCIADO 10
SOCI02
SOCIO 2
ASOCIADO 9
ASOCIADO 9
ASOCIADO 9
SOCI02
Descripci6n I Description
CONFERENCE CALL WIT AND ANDRES MILLAN
Pagina 1 de 6
DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 76.544 •
Tiempo Tarifa Facturable /Time /Rate I Billable
00:30 285,00 Si
00:35 275,00 Si
01:30 265,00 Si
00:25 275,00 Si
00:20 390,00 Si
03:00 390,00 Si
03:25 265,00 Si
00:45 265,00 Sl
01:15 265,00 Si
00:40 390,00 Si
Valor I Amount USA
142,50
160,42
397,50
114,58
130,00
1.170,00
905,42
198,75
331,25
260,00
426
Philippi Prietocarrizosa &urfa
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Nivel/ Descripci6n I Description Date Lawyer Level
13/03/2015 DAVID ANTONIO ASOCIADO 9 BELTRAN DAVILA
18/03/2015 DIANA ZULETA
19/03/2015 FELIPE CUBEROS SOCIO 2
20/03/2015 ALEJANDRO ASOCIADO 2 MEDINA
20/03/2015 ALEJANDRO ASOCIADO 2 MEDINA
20/03/2015 ALEJANDRO ASOCIADO 2 MEDINA
20/03/2015 FELIPE CUB EROS SOCIO 2
20/03/2015 DIANA ZULETA ASOCIAD07
24/03/2015 DAVID ANTONIO ASOCIADO 9 BELTRAN DAVILA
Pagina 2 de 6
DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 76.544
Tiempo Tarifa Facturable Valor I /Time /Rate I Billable Amount USA
00:40 265,00 Si 176,67
01:05 245,00 Si 265,42
00:40 390,00 Si 260,00
01:10 125,00 Si 145,83
01:00 125,00 Si 125,00
01:00 125,00 Si 125,00
01:10 390,00 Si 455,00
01:10 245,00 Si 285,83
oo:so 265,00 Si 220,83
25/03/2015 DIANA ZULETA ASOCIADO 7 REVIEW AND ADJUSTMENTS TO 01:15 245,00 Si 306,25
25/03/2015 FELIPE CUBEROS SOCIO 2 00:40 390,00 Si 260,00
427
P<3gina 3 de 6
Philippi Prietocarrizosa &urfa DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 76.544
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
26/03/2015 PAULA BURITICA
26/03/2015 DAVIDANTONIO BELTRAN DAVILA
27/03/2015 PAULA BURITICA
27/03/2015 DAVIDANTONIO BELTRAN DAVILA
27/03/2015 FELIPE CUBEROS
31/03/2015 DAVIDANTONIO BELTRAN DAVILA
Nivel/ Level
Descripci6n I Description
ASOCIADO 6 l) INTERNAL MEETINGS WITH FELIPE CUB EROS AND DAVID BELTRAN TO DISCUSS
ASOCIADO 9
ASOCIAD06
ASOCIADO 9
SOCIO 2
ASOCIADO 9
Tiempo Tarifa Facturable /Time /Rate I Billable
02:00 225,00 Si
02:45 265,00 Si
14:00 225,00 Sl
02:20 265,00 Si
00:30 390,00 Si
01:15 265,00 Si
Valor I Amount USA
450,00
728,75
3,150,00
618,33
195,00
331,25
428
Pagina 4 de 6
Philippi Prietocarrizosa &urfa DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 76.544
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
31/03/2015 MATEO SINISTERRA
31/03/2015 PAULA BURITICA
Nivel/ Level
ASOCIAD04
ASOCIADO 6
Oescrlpcl6n I Description Tiempo Tarifa Facturable !Time /Rate I Billable
00:10
01:00
Sub total Case I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
175,00 Si
225,00 Si
Valor I Amount USA
29,17
225,00
12.163,75
12.163,75
0,00
12.163,75
429
Pcigina 5 de 6
Philippi Prietocarrizosa &urfa ANEXO DE GASTOS FACTURAI EXPENSE INVOICE : 76.544.
Se~ores I Messrs: KPMG LLP
Caso I Matter: MIN ERA SEAFIELD SAS
Director del proyecto I Attendant: JORGE E. 01 TERLIZZI
Tipo Gasto /Expenses
GASTOS DE TAXIS Y BUSES
GASTOS DE TAXIS Y BUSES ---GASTOS DE TELEFONO Y FAX
GASTOS DE REGISTRO MER CANTIL
GASTOS DE TAXIS Y BUSES
GASTOS DE TRADUCCIONES
GASTOS DE PASAJES AEREOS NACIONALES
GASTOS DE CASINO Y RESTAURANTE
GASTOS DE TAXIS Y BUSES
Fecha I Proveedor 1 Provider Date
08/01/2015 RADIO .TAXI AUTOlAGOS S.A.
08/01/2015 RADIO TAXI AUTOlAGOS S.A.
02/02/2015 ---28/0212015 PHILIPPI, PRIETOCARRIZOSA & URIAS.A.S
02/03/2015 CAMARA DE COMERCIO DE BOGOTA
05/03/2015 CAJA MENOR P&C
16/03/2015 LEGAL CALDERON ABOGADOS S.A.S.
27/03/2015 WORLD TOURS LTDA.
27/03/2015 VARIOS
27/03/2015 VARIOS
Documento I Invoice
SPV·29718
SPV-29718
1250
T74672
044565616
21784
142
623440
AD000009657
27032015
Observaciones I Notes
CONSUMOS TELEFONICOS (GEL, DON, DDI): 01102/2015 A2810212015
LV#4842: TIQUETES AEREOS EN VIAJE DRA PAULA BURl TIC.
LV#4842: REFRIGERIOS EN VIAJE ORA PAULA BURITICA
LV#4842: TAXIS EN.,V.IAiJiEiiDiiRAI PAULA BURITICA 1
Subtotal Caso I Matter. MIN ERA SEAFIELD SAS
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GASTO ADMIN./ ADMIN. EXPENSES
IVA GASTOS ADMIN./ VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
Valor I Amount USA
4,51
3,66
2,32
4,30
1,83
8,13
143,76
262,11
12,83
75,98
519,42
519,42
83,11
602,53
25,97
4,16
30,13
632,65
430
Philippi Prietocarrizosa &uri a
Tarifa
Abogado I Lawyer
Tarifa 125,00 USA
ALEJANDRO MEDINA
Tarifa 175,00 USA
MATEO SINISTERRA
Tarifa 225,00 USA
PAULA BURITICA
Tarifa 245,00 USA
DIANA ZULETA
Tarifa 265,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 275,00 USA
CAROLINA PORRAS
Tarifa 285,00 USA
ANDRES MILLAN
Tarifa 390,00 USA
FELIPE CUBEROS
Resumen de Tiempos/Summary of Invoice No: F-76.544/15
Clfente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa I Rate
125
175
225
245
265
275
285
390
Total Caso
Total
Tiempo I Tlme
03:10
00:10
17:00
03:30
14:45
01:00
00:30
07:00
47:05
47:05
Pilgina 6 de 6
USA
395,83
29,17
3.825,00
857,50
3.908,75
275,00
142,50
2.730,00
12.163,75
12.163,75
431
Philippi Prietocarrizosa &uri a SENORES 1 Sirs KPMG LLP NIT: 444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENT A No./ Invoice No.
76974
FECHA/ Dale CIUDAD I City
BOGOTA, D.C.
) BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON MSH 2S5
may, 25th 2015 ) TORONTO
REF: MIN ERA SEAFIELD SAS
SU REF I Your Ref:
DESCRIPCION/ Description
Honorarios Profesionales I Legal Services HONORARIOS/ Services IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses
IVA I Sales Tax
TOTAL GASTOS/ Total Expense
SUBTOTAL I.V.A 16,00 %
TOTAL FACTURA I Total Invoice
PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. ~Nit. 800,240.450-2 SOMOS GRANDE$ CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001
Somas Autoretenedores - Reso1uci6n 02613 del 22 de Marzo de 2006 Responsables IVA Regimen Comlm
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n por IVA e ICA Responsables ICA Bogota Actividad Econ6mica 6910- 1 Tarifa 6.9 por mil
MONEDAI Currency
DOLLARS
13.569,17 2.171,07
15.740,24
5,23 0,84
6,06
13.574,40 2.171,90
15.746,30
FACTURACI6N GENERADA POR COMPUTADORACOGIENDOSE ALARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 06/01/2015. NUMERACION DESDE: 75.001 HASTA: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
432
Philippi Prietocarrizosa &uti a
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
01/04/2015 DAVIDANTONIO BELTRAN DAVILA
02/04/2015 DAVID ANTONIO BELTRAN DAVILA
Nlvel/ Level
ASOCIADO 9
ASOCIADO 9
Descripci6n I Description
P.3gina 1 de 6
DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 76.974
Tiempo Tarifa Facturable ffime /Rate I Billable
01:45 265,00 Si
00:45 265,00 Si
Valor I Amount USA
463,75
198,75
06/04/2015 DIANA ZULETA ASOCIADO 7 DISCUSSION OF THE MATIER WITH TEAM 00:20 245,00 Si 81,67
06{04/2015 HECTOR SOCIO 01:35 390,00 Si 617,50 HERNANDEZ
DETERMINATION 0
06/04/2015 DAVID ANTONIO ASOCIADO 9 01:10 265,00 Si 309,17 BELTRAN DAVILA
07/04/2015 DAVID ANTONIO ASOCIAD09 02:50 265,00 Si 750,83 BELTRAN DAVILA
07104/2015 PAULA BURITICA ASOCIAD06 00:15 225,00 Si 56,25
07/04/2015 DIANA ZULETA ASOCIAD07 00:50 245,00 Si 204,17
07/04/2015 DIANA ZULETA 01:00 245,00 Si 245,00
07/04/2015 HECTOR SOCIO 01:10 390,00 Si 455,00 HERNANDEZ
08/04/2015 DAVID ANTONIO ASOCIADO 9 01:45 265,00 Si 463,75 BELTRAN DAVILA
433
Pciglna 2 de 6
Philippi Prietocarrizosa &uria DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 76.974
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
08/04/2015 FELIPE CUB EROS
08/04/2015 DIANAZULETA
09/04/2015 DAVIDANTONIO BELTRAN DAVILA
09/04/2015 HECTOR HERNANDEZ
09/04/2015 DIANAZULETA
09/04/2015 MARIO ALONSO PEREZ
09/04/2015 MARIO ALONSO PEREZ
09/04/2015 ALEJANDRO MEDINA
10/04/2015 ANA MARIA BEJARANO
Nlvel/ Level
Descripci6n I Description
SOCIO 2 REVIEW AND INTERNAL ANALYSIS WITH OUR LITIGATION AREA WITH RESPECT TO
ASOCIADO 7
ASOCIADO 9
SOCIO
ASOCIADO 7
ASOCIADO 11 INTERNAL MEETING WITH DAVID BELTRAN AND ALEJANDRO MEDINA REGARDING.
ASOCIADO 11
ASOCIADO 2
ASOCIADO 2
Tiempo Tarifa Facturable /Time /Rate I Billable
00:30 390,00 Si
00:30 245,00 Si
03:10 265,00 Si
01:55 390,00 Si
00:05 245,00 Si
00:15 285,00 Si
01:20 285,00 Si
01:00 125,00 Sl
00:35 125,00 Si
Valor I Amount USA
195,00
122,50
839,17
747,50
20,42
71,25
380,00
125,00
72,92
434
Pagina 3 de 6
I Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 76.974
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Nivel/ Descripcl6n I Description Date Lawyer Level
10/04/2015 CAROLINA ASOCIADO 10 REVIEW OF' PORRAS
13/04/2015 DIANA ZULETA ASOCIAD07 CONFERENCE CALL WlTH CLIENT
13/04/2015 DAVID ANTONIO ASOCIADO 9 INTERNAL MEETING WITH LABOR AREA IN BELTRAN DAVILA
14/04/2015 DAVIDANTONIO ASOCIADO 9 BELTRAN DAVILA
14/04/2015 ALEJANDRO ASOCIADO 2 SEARCH, COMPILATION, OVERVIEW, MEDINA ORGANIZATION AND DIGITALIZATION OF.
14/04/2015 ALEJANDRO ASOCIADO 2 MEDINA
21/04/2015 DAVID ANTONIO BELTRAN DAVILA
22/04/2015 DIANA ZULETA ASOCIAD07 REVIEW AND COMMENTS TO
2210:4/2015 FELIPE CUB EROS SOCI02 REVIEW, PROPOSED ADJUSTMENTS AND INTERNAL DISCUSSIONS
I
22/04/2015 CAROLINA ASOCIADO 10 CONFERENCE CALL WITH KPMG GROUP PORRAS
Tiempo Tarifa Facturable Valor I /Time /Rate I Billable Amount USA
00:10 275,00 s; 45,83
00:30 245,00 Si 122,50
02:15 265,00 Si 596,25
02:55 265,00 Si 772,92
04:00 125,00 Si 500,00
02:00 125,00 Si 250,00
02:10 265,00 Si 574,17
00:20 245,00 Si 81,67
02:10 390,00 Si 845,00
00:20 275,00 Si 91,67
435
Pclglna 4 de 6
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 76.974
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
Nlvel/ Level
Descripc16n I Description Tiempo Tarifa Facturable
22/04/2015 DAVID ANTONIO BELTRAN DAVILA
23/04/2015 DAVIDANTONIO BELTRAN DAVILA
23/04/2015 FELIPE CUBERO$
23/04/2015 FELIPE CUBERO$
27/04/2015 DAVID ANTONIO BELTRAN DAVILA
28/04/2015 DAVIDANTONIO BELTRAN DAVILA
28/04/2015 CAROLINA PORRAS
29/04/2015 DAVIDANTONIO BELTRAN DAVILA
ASOCIAD09
ASOCIADO 9
SOCIO 2
SOCIO 2
ASOCIAD09
ASOCIADO 9
ASOCIAOO 9
/Time /Rate I Billable
03:20
00:40
01:20
FINAL REVIEW AND CONCLUSIONS ON 00:25 --- 03:10
00:50
00:20
01:25
Sub total Case I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
265,00 Si
265,00 Si
390,00 Si
390,00 Si
265,00 Si
265,00 Si
275,00 Si
265,00 Si
Valor/ Amount USA
883,33
176,67
520,00
162,50
839,17
220,83
91,67
375,42
13.569,20
13.569,20
0,00
13.569,20
436
Pilgina 5 de 6
Philippi Prietocarrizosa &uri a ANEXO DE GASTOS FACTURAI EXPENSE INVOICE: 76.974
Senores I Messrs: KPMG LLP
Caso I Matter: MIN ERA SEAFIELD SAS
Director del proyecto I Attendant: JORGE E. Dl TERLIZZI
Tipo Gas to /Expenses
GASTOS DE CORREO I AIRMAIL EXPENSES ---
Fecha I Date
31/03/2015
06/04/2015
Proveedor I Provider
AEROVIAS DEL CONTINENTE AMERICANO --
Documento I Invoice
FT00051680
045376807
Observaclones I Notes
Subtotal Caso I Matter. MIN ERA SEAFIELD SAS
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GASTO ADMIN./ ADMIN. EXPENSES
IVA GASTOS ADMIN./ VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
Valor I Amount USA
3,18
1,80
4,98
4,98
0,80
5,77
0,25
0,04
0,29
6,06
437
Philippi Prietocarrizosa &uri a
Tarifa Abogado I Lawyer
Tarifa 125,00 USA
ANA MARIA BEJARANO
ALEJANDRO MEDINA
Tarifa 225,00 USA
PAULA BURITICA
Tarifa 245,00 USA
DIANA ZULETA
Tarifa 265,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 275,00 USA
CAROLINA PORRAS
Tarifa 285,00 USA
MARIO ALONSO PEREZ
Tarifa 390,00 USA
HECTOR HERNANDEZ
FELIPE CUBEROS
Resumen de Tiempos/Summary of Invoice No: F-76.974/15
Cllente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa 1 Rate
Total Caso
Total
125 125
225
245
265
275
285
390 390
Tlempo I Time
00:35 07:00
00:15
03:35
28:10
00:50
01:35
04:40 04:25
51:05
51:05
Pc1glna 6 de 6
USA
72,92 875,00
56,25
877,93
7.464,18
229,17
451,25
1.820,00 1.722,50
13.569,20
13.569,20
438
Philippi Prietocarrizosa &uri a SENORES I Sirs KPMG LLP NIT: 444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENTA No./ Invoice No.
77372
( FECHA/ Date CIUDAD I City
BOGOTA. D.C.
) BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON MSH 255
( june. 18th 2015 1 TORONTO
REF: MIN ERA SEAFIELD SAS
SU REF I Your Ref:
DESCRIPCION/ Description
Honorarios Profesionales I Legal Services HONORARIOS/ Services
IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses
IVA I Sales Tax
TOTAL GASTOS I Total Expense
SUBTOTAL I.V.A 16,00 % TOTAL FACTURA I Total Invoice
Pay Directly by Fed Wire ABA or FW 066010720 • Banco de Bogota Miami Agency- Miami, Florida Swift Code or Bank Identifier Code (BIG): BBOGUS3M Final Beneficiary: PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. Account No.: 61648 Please Include invoice Number .
PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. ~Nit. 800,240.450-2 SOMOS GRANDE$ CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001
Somes Autoretenedores- Resoluci6n 02613 del 22 de Marzo de 2006 Responsables IVA Regimen ComUn
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n por IVA e ICA Responsables ICA Bogota Actividad Econ6mica 6910- 1 Tarifa 6.9 por mil
MONEDA/ Currency
DOLLARS
1.828,75 292.60
2.121,35
11,46
1,83
13,30
1.840,21
294,43
2.134,65
·····-············. ···--··---··-- ..•
•
•
FACTURACION GENERADA POR COMPUTADOR ACOGIENDOSE ALARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORI~DA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 0610112015. NUMERACION DESDE: 75.001 HASTA: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. -Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
439
P.3glna 1 de 3
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 77.372.
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
Nivel/ Level
Descrlpci6n I Description Tiempo Tarifa Facturable
05/05/2015 DAVIDANTONIO ASOCIADO 9 BELTRAN DAVILA
07/05/2015 DAVID ANTONIO ASOCIADO 9 BELTRAN DAVILA
07/05/2015 CAROLINA ASOCIADO 10 PORRAS
07/05/2015 FELIPE CUB EROS SOCIO
07/05/2015 HECTOR SOCIO HERNANDEZ
22105/2015 FELIPE CUBEROS SOCIO
23/05/2015 FELIPE CUBEROS SOCIO
/Time /Rate I Billable
00:45
01:10
00:40
01:10
MEETING WITH THE CLIENT. 00:45
PRELIMINARY REVIEW AND ANALYSIS OF 00:40
00:20
Sub total Caso I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
265,00 Si
265,00 Si
275,00 Si
390,00 Si
390,00 Si
390,00 Si
390,00 Si
Valor I Amount USA
198,75
309,17
183,33
455,00
292,50
260,00
130,00
1.828,75
1.828,75
0,00
1.828,75
440
Philippi Prietocarrizosa &uri a
Senores I Messrs: KPMG LLP
Case I Matter: MIN ERA SEAFIELD SAS
Director del proyecto I Attendant:
Tipo Gasto /Expenses Fecha I Date
JORGE E. Dl TERLIZZI
Proveedor I Provider Documento I Invoice
Pagina 2 de 3
ANEXO DE GASTOS FACTURN EXPENSE INVOICE : 77.372
Observaciones I Notes Valor I Amount USA
GASTOS DE TELEFONO Y FAX
31/05/2015 PHILIPPI, PRIETOCARRIZOSA & URIAS.A.S
T75026 CONSUMOS TELEFONICOS (CEL, DON, DDI): 1410412015 A 3110512015
10,92
Subtotal Caso I Matter. MIN ERA SEAFIELD SAS
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GAS TO ADMIN. I ADMIN. EXPENSES
IVA GASTOS ADMIN. I VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
10,92
10,92
1,75
12,66
0,55
0,09
0,63
13,30
441
Philippi Prietocarrizosa &uri a
Tarifa Abogado I Lawyer
Tarifa 265,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 275,00 USA
CAROLINA PORRAS
Tarifa 390,00 USA
HECTOR HERNANDEZ
FELIPE CUBEROS
Resumen de Tiempos/Summary of Invoice No: F-77.372/15
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa I Rate
Total Caso
Total
265
275
390 390
Tiempo I Time
01:55
00:40
00:45 02:10
05:30
05:30
P.3glna 3 de 3
USA
507,92
183.33
292,50 845,00
1.828,75
1.828,75
442
Philippi Prietocarrizosa &uri a SENORES I Sirs KPMG LLP NIT:444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENT A No./ Invoice No.
77853
( FECHA/ Date CIUDAD I City
BOGOTA, D.C. BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON M5H 2S5
(july, 14th 2015
TORONTO
REF: MIN ERA SEAFIELD SAS
SU REF I Your Ref:
DESCRIPCION/ Description
Honorarios Profesionales I Legal Services HONORARIOS/ Services
IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses IVA I Sales Tax
TOTAL GASTOS I Total Expense
SUBTOTAL I.V.A 16,00 %
TOTAL FACTURA I Total Invoice
cc- ------- - - -------- - •. Pay Directly by Fed Wire ABA or FW 0.66010720 Banco de Bogota Miami Agency- Miami, Fl.orida Swift Code or Bank Identifier Code (BIG}: BBOGUS3M
·Final Beneficiary: PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. Account No.: 61648 Please Include invoice Number .
PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800,240.450-2 SOMOS GRANDES CONTRIBUYENTES RESOLUCJON 11076 DE DICIEMBRE 14 DE 2001
SomosAutoretenedores- Resoluci6n 02613 del22 de Marzo de 2006 Responsables IVA Regimen ComUn
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n por IVA e ICA Responsables ICA Bogota :Actividad Econ6mica 6910-1 Tarifa 6.9 por mil
MONEDAI Currency
DOLLARS
3.540,00 566,40
4.106,40
16,37 2,62
18,99
3.556,37 569,02
4.125,39
'
•
.. . .· .· . .:. . . · .. . .·
FACTURACION GENERADA POR COMPUTADOR ACOGIENDOSE AL ARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 06101/2015. NUMERACION DESDE: 75.001 HASTA: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571} 3268600 FAX: (571} 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
443
Pi3gina 1 de 3
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 77.853 •
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
Nivel/ Level
Descrlpc 16n I Description Tiempo Tarifa Facturable
03/06/2015 FELIPE CUB EROS
03/06/2015 CAROLINA PORRAS
03/06/2015 DAVID ANTONIO BELTRAN DAVILA
16/06/2015 DAVID ANTONIO BELTRAN DAVILA
17/06/2015 DAVID ANTONIO BELTRAN DAVILA
17/06/2015 JUAN JARAMILLO
22/06/2015 DAVIDANTONIO BELTRAN DAVILA
/Time /Rate I Billable
SOCIO REVIEW AND INTERNAL DISCUSSION OF 02:50
ASOCIADO 10 INTERNALANALYIS WITH DAVID BELTRAN 00:10
ASOCIADO 9
ASOCIADO 9
ASOCIADO 9
ASOCIADO 5
ASOCIADO 9
• 03:10
02:40
00:50
01:50
01:00
Sub total Case I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
390,00 Si
275,00 Si
265,00 Si
265,00 Si
265,00 Si
195,00 Si
265,00 Si
Valor I Amount USA
1.105,00
45,83
839,17
706,67
220,83
357,50
265,00
3.540,00
3.540,00
0,00
3.540,00
444
Pcigina 2 de 3
Philippi Prietocarrizosa &urfa ANEXO DE GASTOS FACTURAI EXPENSE INVOICE : 77.853
Senores I Messrs: KPMG LLP
Case I Matter: MIN ERA SEAFIELD SAS
Director del proyecto I Attendant: JORGE E. Dl TERLIZZI
Tipo Gasto /Expenses Fecha I Date
GASTOS DE TAXIS Y 03/06/2015 BUSES
GASTOS DE TAXIS Y 16/06/2015 BUSES
Proveedor I Provider
CAJA MENOR P&C
CAJA MENOR P&C
Documento I Invoice
Observaciones I Notes
21725
21726
Subtotal Caso I Matter. MIN ERA SEAFIELD SAS
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GASTO ADMIN. I ADMIN. EXPENSES
IVA GASTOS ADMIN. I VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
Valor I Amount USA
7,43
8,17
15,59
15,59 2,49
18,09
0,78
0,12
0,90
18,99
445
Philippi Prietocarrizosa &urfa
Tarifa Abogado I Lawyer
Tarifa 195,00 USA
JUAN JARAMILLO
Tarifa 265,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 275,00 USA
CAROLINA PORRAS
Tarifa 390,00 USA
FELIPE CUBEROS
Pagina 3 de 3
Resumen de Tiempos/Summary of Invoice No: F-77.853/15
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa I Rate Tiempo I Time USA
195 01:50 357,50
265 07:40 2.031,67
275 00:10 45,83
390 02:50 1.105,00
Total Caso 12:30 3.540,00
Total 12:30 3.540,00
446
Philippi Prietocarrizosa &urfa SENORES I Sirs KPMG LLP NIT: 444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENT A No./ Invoice No.
78489
FECHAI Date CIUDAD I City
BOGOTA, D.C.
1 BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON MSH 2SS
august, 21st 2015
TORONTO
REF: MINERA SEAFIELD SAS
SU REF I Your Ref:
DESCRIPCIONI Description
Honorarios Profesionales I Legal Services HONORARIOSI Services
IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses IVA I Sales Tax
TOTAL GASTOS I Total Expense
SUBTOTAL I.V.A 16,00 % TOTAL FACTURA I Total Invoice
Pay Directly by Fed Wire ABA or FW 066010720 Banco de Bogota Miami Agency. Miami, Florida Swift Code or Ban.k Identifier Code (BIG): BBOGUS3M • Final Beneficiary: PHILIPPI PRIETOCARRIZOSA & URIA SAS. Account No.: 61648 Please Include invoice Number
PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. w Nit. 800,240.450-2 SOMOS GRANDE$ CONTRJBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001
Somes Autoretenedores- Resoluci6n 02613 del 22 de Marzo de 2006 Responsables IVA Regimen ComUn
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n par IVA e ICA Responsables ICA Bogota: Actividad Econ6mica 6910- 1 Tarifa 6.9 por mil
MONEDAI Currency
DOLLARS
18.068,76 2.891,00
20.959,76
603,83 96,61
700,44
18.672,58 2.987,61
21.660,19
FACTURACI6N GENERADA POR COMPUTADOR ACOGIENDOSE AL ARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARJO
NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 06/01/2016. NUMERACION DES DE: 75.001 HASTA: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. • Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.· COLOMBIA
447
Pagina 1 de 7
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 78.489.
Se~ores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
02107/2015 ALEJANDRO MEDINA
02107/2015 DAVID ANTONIO BELTRAN DAVILA
03/07/2015 DAVID ANTONIO BELTRAN DAVILA
06/07/2015 DAVID ANTONIO BELTRAN DAVILA
07/07/2015 DAVID ANTONIO BELTRAN DAVILA
15/07/2015 CARLOS RODRIGUEZ SCHRADER
15/07/2015 CARLOS RODRIGUEZ SCHRADER
15/07/2015 CAROLINA PORRAS
16/07/2015 FELIPE CUBERO$
16/07/2015 CARLOS RODRIGUEZ SCHRADER
17/07/2015 CAROLINA PORRAS
Nlvel/ Level
ASOCIADO 2
ASOCIADO 9
ASOCIADO 9
ASOCIADO 9
ASOCIADO 9
ASOCIADO 1
ASOCIADO 1
SOCIO
ASOCIADO 1
Descripci6n I Description
FOLLOW UP ON MATTERS REGARDING
INTERNAL DISCUSSION
--ST
I
PRELIMINARY INTERNAL DISCUSSION OF
ASOCIADO 10 COMMENTS REGARDING.
Tiempo Tarifa Facturable /Time /Rate I Billable
02:20 125,00 Si
01:20 265,00 Si
01:40 265,00 Si
00:30 265,00 Si
00:40 265,00 Si
00:55 115,00 Si
00:15 115,00 Si
00:35 275,00 Sl
00:20 390,00 Si
01:45 115,00 Si
00:40 275,00 Si
Valor/ Amount USA
291,67
353,33
441,67
132,50
176,67
105,42
28,75
160,42
130,00
201,25
183,33
448
Pclgina 2 de 7
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 78.489
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
21/07/2015 FELIPE CUBEROS
21/07/2015 CAROLINA PORRAS
22/07/2015 CARLOS RODRIGUEZ SCHRADER
22107/2015 CARLOS RODRIGUEZ SCHRADER
22/07/2015 CAROLINA PORRAS
22/07/2015 DAVID ANTONIO BELTRAN DAVILA
23/07/2015 HECTOR HERNANDEZ
23/07/2015 CARLOS RODRIGUEZ SCHRADER
23/07/2015 CAROLINA PORRAS
23/07/2015 DAVID ANTONIO BELTRAN DAVILA
24/07/2015 DAVID ANTONIO BELTRAN DAVILA
24/07/2015 DAVID ANTONIO BELTRAN DAVILA
Nivel/ Level
SOCIO
Descripci6n I Description
FURTHER REVIEW AND DISCUSSION OF
ASOCJADO 10 CONFERENCE CALLS
ASOCIADO 10 CONFERENCE CALL WITH KPMG, CALLS W1TH
ASOCIADO 9
SOCIO
ASOCIADO 10
ASOCIADO 9 INTERNAL DISCUSSION OF -ASOCIADO 9
ASOCIAD09 REVISION
Tiempo Tarifa Facturable /Time /Rate I Billable
00:20 390,00 Si
00:20 275,00 Si
00:45 115,00 Si
02:25 115,00 Si
03:10 275,00 Si
01:40 265,00 Si
02:20 390,00 Si
01:20 115,00 Si
01:40 275,00 Si
01:10 265,00 Si
01:20 265,00 Si
00:20 265,00 Si
Valor I Amount USA
130,00
91,67
86,25
277,92
870,83
441,67
910,00
153,33
458,33
309,17
353,33
88,33
449
Philippi Prietocarrizosa &urfa
Senores I Sirs: KPMG LLP
Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Nivel/ Descrlpcl6n I Description Date Lawyer Level
24/07/2015 HECTOR SOCIO CALL WITH CLIENT. HERNANDEZ
24/07/2015 CAROLINA PORRAS
27/07/2015 CARLOS RODRIGUEZ SCHRADER
27/07/2015 CAROLINA PORRAS
27/07/2015 DAVID ANTONIO ASOCIADO 9 BELTRAN DAVILA
28/07/2015 DAVID ANTONIO ASOCIADO 9 BELTRAN DAVILA
28/07/2015 JULIANA BARRERA
28/07/2015 CAROLINA PORRAS
29/07/2015 CAROLINA ASOCIADO 10 PORRAS
29/07/2015 DAVID ANTONIO ASOCIADO 9 BELTRAN DAVILA
30/07/2015 JULIANA BARRERA
Pagina 3 de 7
DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 78.489
Tlempo Tarifa Facturable Valor I /Time /Rate I Billable Amount USA
00:25 390,00 Si 162,50
02:45 275,00 Si 756,25
00:20 115,00 Si 38,33
03:25 275,00 Si 939,58
00:40 265,00 Si 176,67
00:30 265,00 Si 132,50
00:15 150,00 Si 37,50
00:30 275,00 Si 137,50
01:10 275,00 Si 320,83
01:00 265,00 Si 265,00
00:15 150,00 Si 37,50
30/07/2015 CARLOS ASOCIADO 1 PREPARATION AND SENDING OF EMAIL 00:20 115,00 Si 38,33 RODRIGUEZ I SCHRADER
450
Pagina 4 de 7
Philippi Prietocarrizosa &urfa DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 78.489
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Nivel I Descripcl6n I Description Tiempo Tarifa Facturable Date Lawyer Level /Time /Rate I Billable
SOCIO 02:10 390,00 Si HERNANDEZ
CLIENT. 30/07/2015 DAVID ANTONIO ASOCIADO 9 03:10 265,00 Si
BELTRAN DAVILA
30/07/2015 CAROLINA ASOCIADO 10 03:10 275,00 Si PORRAS
31/07/2015 CAROLINA ASOCIADO 10 09:00 275,00 Si PORRAS
31/07/2015 HECTOR SOCIO ~RING. 09:00 390,00 Si HERNANDEZ 0
31/07/2015 DAVID ANTONIO ASOCIADO 9 FOLLOWUPM ..... , 00:25 265,00 Si BELTRAN DAVILA DELIVERY OF TO CLIENT.
Sub total Caso I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
Valor I Amount USA
845,00
839,17
870,83
2.475,00
3.510,00
110,42
18.068,75
18.068,75
0,00
18.068,75
451
Philippi Prietocarrizosa &urfa
Senores I Messrs: KPMG LLP
Caso I Matter: MIN ERA SEA FIELD SAS Director del proyecto I Attendant:
Tipo Gasto /Expenses Fecha I Date
GASTOSDE 30106/2015 TELEFONO Y FAX
GASTOS DE 08/07/2015 TRAMITESY LICENCIAS GASTOS NOTARIALES 28/07/2015
GASTOS DE PASAJES 29/07/2015 AEREOS NACIONALES
GASTOS DE PASAJES 29/07/2015 AEREOS NACIONALES
GASTOS DE 31/07/2015 TELEFONO Y FAX
GASTOS DE PASAJES 31/07/2015 AEREOS NACIONALES
GASTOS DE TAXIS Y 31/07/2015 BUSES
GASTOS DE PASAJES 31/07/2015 AEREOS NACIONALES
PARQUEADERO 31/07/2015 NACIONAL (LOCAL)
JORGE E. Dl TERLIZZI
Proveedor I Provider
PHILIPPI, PRIETOCARRIZOSA & URIAS.A.S
AGENCIA NACIONAL DE MINERIA
NOTARIA41 DE BOGOTA - VIRVIESCAS CALVETE AU RIO WORLD TOURS LTDA.
WORLD TOURS LTDA.
PHILIPPI, PRIETOCARRIZOSA & URIAS.A.S
WORLD TOURS LTDA.
VARIOS
WORLD TOURS LTOA.
CENTRAL PARKING SYSTEM COLOMBIA LTDA
Documento I Invoice
T75217
702284704
152611
638102
638100
T75383
638214
31072015
638215
E10W-130544
Paglna 5 de 7
ANEXO DE GASTOS FACTURAI EXPENSE INVOICE : 78.489.
Observaciones I Notes Valor I Amount USA
CONSUMOS TELEFONICOS (GEL, 1,76 DON, DDI): 0110612015 A 3010612015
LV#51 09: TIQUETES AEREOS EN VIAJE ORA CAROLINA PORRAI:JI
LV#5108: TIQUETESAEREOS EN VIAJE DR HECTOR HERNANDEZI
CONSUMOS TELEFONICOS (GEL, DON, DDI): 0110712015 A 3110712015
LV#5109: VALOR AD I ClONAL TIQUETES AEREOS iEiiNIViiiA~J~E~D~RA CAROLINA PORRAS
LV#5109: TAXIS EN V,jjiAIJiiEiiDiiRAiiil CAROLINA PORRAS.
LV#51 08: VALOR ADICIONAL TIQUETES AEREOS ENiViiliiAiiJEiliDiiRI HECTOR HERNANDEZ
LV#5108: PARQUEADEROS EN VIAJE DR HECTOR HERNANDELII
24,48
0,98
195,05
195,05
5,22
58,91
21,61
58,91
13,10
Subtotal Caso I Matter. MIN ERA SEAFIELD SAS 575,07
452
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GASTO ADMIN./ ADMIN. EXPENSES
IVA GASTOS ADMIN./ VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
Pc'lgina 6 de 7
575.07
92,01
667,08
28,75
4,60
33,35
700,44
453
Philippi Prietocarrizosa &urfa
Tarifa
Abogado I Lawyer
Tarifa 115,00 USA
CARLOS RODRIGUEZ SCHRADER
Tarifa 125,00 USA
ALEJANDRO MEDINA
Tarifa 150,00 USA
JULIANA BARRERA
Tarifa 265,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 275,00 USA
CAROLINA PORRAS
Tarifa 390,00 USA
HECTOR HERNANDEZ
FELIPE CUBEROS
Resumen de Tiempos/Summary of Invoice No: F-78.489/15
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa I Rate
Total Caso
Total
115
125
150
265
275
390 390
Tiempo I Time
08:05
02:20
00:30
14:25
26:25
13:55 00:40
66:20
66:20
P.3gina 7 de 7
USA
929,58
291,67
75,00
3.820,43
7.264,57
5.427,50 260,00
18.068,75
18.068,75
454
Philippi Prietocarrizosa &uri a SENORES I Sirs KPMG LLP NIT: 444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENTA No./ Invoice No.
78858
FECHA/ Dale CIUDAD I City
september. 15th 2015 BOGOTA. D.C.
) Bay Adelaide Center 333 Bay Street, Suite 4600 Toronto, ON MSH 255 TORONTO
J
CANADA
REF: MIN ERA SEAFIELD SAS
SU REF I Your Ref:
DESCRIPCION/ Description
Honorarios Profesionales I Legal Services HONORARIOS/ Services
IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses IVA I Sales Tax
TOTAL GASTOS I Total Expense
SUBTOTAL I.V.A 16,00 % TOTAL FACTURA I Total Invoice
. ___ _.
Pay Directly by Fed Wire ABA or FW 066010720 Banco de Bogota Miami Agency- Miami, Florida Swift Code or Bank Identifier Code (BIG): BBOGUS3M Final Beneficiary: PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. Account No.: 61648 Please Include invoice Number
PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800.240.450-2 SOMOS GRANDES CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001
SomosAutoretenedores- Resoluci6n 02613 de122 de Marzo de 2006 Responsables IVA Regimen ComUn
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n per IVA e ICA Responsables ICA Bogota : Actividad Econ6mica 6910- 1 Tarifa 6.9 por mil
MONEDA/ Currency
DOLLARS
12.603,75 2.016,60
14.620,35
348,91 55,83
404,73
12.952,66 2.072,43
15.025,08
.. -·· ........ -· ~ ;
~~~~~·~~ > ~
FACTURACIQN GENERADA POR COMPUTADOR ACOGIENDOSE ALARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORIZADA POR LA DIAN MEDlANTE RES. No.RES 320001224233 DE FECHA: 06/01/2016. NUMERACION DESDE: 75.001 HASTA: 85.000
lmpreso per PHILIPPI PRIETOCARRIZOSA & URIA S~A.S. -Nil. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
455
Philippi Prietocarrizosa &uri a
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Date Lawyer
03/08/2015 CAROLINA PORRAS
03/08/2015 CARLOS RODRIGUEZ SCHRADER
04/08/2015 HECTOR HERNANDEZ
04/08/2015 FELIPE CUBERO$
04/08/2015 DAVID ANTONIO BELTRAN DAVILA
04/08/2015 CAROLINA PORRAS
05/08/2015 CAROLINA PORRAS
06/08/2015 CARLOS RODRIGUEZ SCHRADER
06/08/2015 CAROLINA PORRAS
11/08/2015 ANAIREGUI
12/08/2015 ANAIREGUI
Nlvel/ Level
ASOCIADO 10
ASOCIADO 1
SOCIO
SOCIO
ASOCIAD09
Descripci6n I Description
ASOCIADO 10 FINAL DRAFT
ASOCIADO 1
ASOCIADO 10
ASOCIADO 1
P;3gina 1 de 5
DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 78.858.
Tlempo Tarlfa Facturable /Time /Rate I Billable
06:15 275,00 Sl
05:00 115,00 Si
04:30 390,00 Si
01:20 390,00 Si
06:25 265,00 Si
03:00 275,00 Si
08:00 275,00 Si
01:00 115,00 Si
00:40 275,00 Si
02:00 115,00 Si
01:00 115,00 Si
Valor I Amount USA
1.718,75
575,00
1.755,00
520,00
1.700,42
825,00
2.200,00
115,00
183,33
230,00
115,00
456
Pciglna 2 de 5
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 78.858
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Date Lawyer
12108/2015 HECTOR HERNANDEZ
12/08/2015 CAROLINA PORRAS
12108/2015 FELIPE CUB EROS
12108/2015 PAULA BURITICA
13/08/2015 FELIPE CUBEROS
14/08/2015 CAROLINA PORRAS
18/08/2015 ANA IREGUI
20/08/2015 ANA lREGUI
21/08/2015 ANA IREGUI
Nivel/ Descripci6n I Description Level
socro INTERNAL MEETING IN REGARD TO THE -ASOCIADO 10 INTERNAL COMMENTS WITH THE REGARDING THE
socro
ASOCIADO 6
socro
ASOCIADO 10
ASOCIADO 1
ASOCIADO 1
ASOCIADO 1 RESPONSE TO VARIOUS E-MAILS FROM KPMG AND MCMILLAN.
Tiempo Tarifa Facturable /Time /Rate I Billable
00:15 390,00 Si
00:15 275,00 Si
01:30 390,00 Si
00:05 225,00 Si
01:10 390,00 Si
00:15 275,00 Si
05:00 115,00 Si
00:35 115,00 Si
01:00 115,00 Si
Valor I Amount USA
97,50
68,75
585,00
18,75
455,00
68,75
575,00
67,08
115,00
457
Pagina 3 de 5
Philippi Prietocarrizosa &urfa DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 78.858
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
Nivell Level
Descrlpci6n I Description Tiempo Tarifa Facturable
24/08/2015 FELIPE CUBEROS
24/08/2015 PAULA BURITICA
24/08/2015 PAULA BURITICA
24/08/2015 ANA IREGUI
24/08/2015 ANA IREGUI
31108/2015 CAROLINA PORRAS
/Time /Rate I Billable
SOCIO INTERNAL FEEDBACKAND DISCUSSIONS ON
ASOCIAD06
ASOCIADO 6 REVISION AND COMPLEMENTATION OF EMAIL PREPARED BY ANA IREGUI
ASOCIADO 1
ASOCIADO 1
ASOCIADO 10 FOLLOW UPON·····
00:20
00:40
00:20
00:40
01:00
00:15
Sub total Caso I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
390,00 Si
225,00 Si
225,00 Si
115,00 Si
115,00 Si
275,00 Si
Valor I Amount USA
130,00
150,00
75,00
76,67
115,00
68,75
12.603,75
12.603,75
0,00
12.603,75
458
Pi3gina 4 de 5
Philippi Prietocarrizosa &urfa ANEXO DE GASTOS FACTURAI EXPENSE INVOICE : 78.858
Senores I Messrs: KPMG LLP
Caso I Matter: MIN ERA SEA FIELD SAS
Director del proyecto I Attendant: JORGE E. Dl TERLIZZI
Tipo Gas to /Expenses
GASTOS DE TAXIS Y BUSES GASTOS DE TAXIS Y BUSES
GASTOS NOTARIALES
GASTOS DE TAXIS Y BUSES
GASTOS DE TAXIS Y BUSES
GASTOS DE PASAJES AEREOS NACIONALES
GASTOS DE TAXIS Y BUSES
GASTOS DE COR REO I AIRMAIL EXPENSES --
Fecha I Date
31/07/2015
31/07/2015
04/08/2015
05/08/2015
05/08/2015
05/08/2015
05/08/2015
12/08/2015
12108/2015
Proveedor I Provider
TAMAYO GONZALEZ JAIRO ALBERTO
TAMAYO GONZALEZ JAIRO ALBERTO
NOTARIA41 DE BOGOTA - VIRVIESCAS CALVETE ALl RIO TAMAYO GONZALEZ JAIRO ALBERTO
TAMAYO GONZALEZ JAIRO ALBERTO
WORLD TOURS LTDA.
VARIOS
GLOBAL MENSAJERIA S.A. ---
4-5
4-5
Documento I Invoice
152950
4-5
4-5
639398
05082015
MM004596642
046955312
Observaciones I Notes
LV#5124: TIQUETES AEREOS EN VIAJE ORA CAROLINA PORRAS I
LV#5124: TAXIS EN VIAJE ORA CAROLINAPORRAslllilll•
Subtotal Caso I Matter. MIN ERA SEAFIELO SAS
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GAS TO ADMIN./ ADMIN. EXPENSES
IVA GASTOS ADMIN./ VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
Valor I Amount USA
29,02
29,02
0,99
20,77
20,77
210,22
15,83
4,19
1,48
332,29
332,29 53,17
385,46
16,62
2,66
19,27
404,73
459
Philippi Prietocarrizosa &uri a
Tarlfa Abogado I Lawyer
Tarifa 115,00 USA
ANAIREGUI
CARLOS RODRIGUEZ SCHRADER
Tarifa 225,00 USA
PAULA BURITICA
Tarifa 265,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 275,00 USA
CAROLINA PORRAS
Tarifa 390,00 USA
HECTOR HERNANDEZ
FELIPE CUBEROS
Resumen de Tiempos/Summary of Invoice No: F-78.858/15
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa I Rate
Total Caso
Total
115
115
225
265
275
390 390
Tiempo I Time
11:15 06:00
01:05
06:25
18:40
04:45 04:20
52:30
52:30
P.3gina 5 de 5
USA
1.293,75 690,00
243,75
1.700,42
5.133,33
1.852,50 1.690,00
12.603,75
12.603,75
460
Philippi Prietocarrizosa &uria
SENORES I Sirs KPMG LLP NIT:444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENT A No./ Invoice No.
79259
FECHAI Dale CIUDAD ICily
october, 2oth 2015 BOGOTA, D.C. Bay Adelaide Center 333 Bay Street, Suite 4600 Toronto, ON MSH 255 TORONTO
CANADA
REF: MINERA SEAFIELD SAS
SU REF I Your Ref:
DESCRIPCIONI Description
Honorarios Profesionales I Legal Services HONORARIOSI Services
IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses IVA I Sales Tax
TOTAL GASTOS I Total Expense
SUBTOTAL J.V.A 16,00 % TOTAL FACTURA I Total invoice
·--· ~ Pay Directly by Fed Wire ABA or FW 066010720 Banco de Bogota Miami Agency- Miami, Florida Swift Code or Bank Identifier Code (BIC): BBOGUS3M Final Beneficiary: PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. Account No.: 61648 Please Include invoice Number
PHILIPPI PRIETOCARRIZOSA & URIA S.A,S.- Nit. 800.240.450-2 SOMOS GRANDES CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001
SomosAutoretenedores- Resoluci6n 02613 del22 de Marzo de 2006 Responsables IVA Regimen ComUn
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n por IVA e ICA Responsables ICA Bogota :Actividad Econ6mica 6910-1 Tarifa 6.9 por mil
MONEDA/ Currency
DOLLARS
8.502,50 1.360,40
9.862,90
23,94 3,83
27,77
8.526,44
1.364,23
9.890,67
·-··--·----··· ~ ··-.. ·- "" " ··-~--------·-······-··· .. ,
••
'
FACTURACIDN GENERADA POR COMPUTADOR ACOGIENDOSE AL ARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 06/01/2016. NUMERACION DESDE: 76.001 HASTA: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nil. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
461
Philippi Prietocarrizosa &Urfa
Senores I Sirs: KPMG LLP MINERASEAFIELD SAS Descripci6n Caso I Matter:
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
01/09/2015 CAMILAGOMEZ
02/09/2015 CAMILAGOMEZ
10/09/2015 DAVIDANTONIO BELTRAN DAVILA
Nivel/ Level
ASOCIADO 1
ASOCIADO 9
Descrlpci6n I Description
Pagina 1 de 4
DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 79.259.
Tiempo Tarlfa Facturable Valor I /Time /Rate I Billable Amount USA
00:50 115,00 Si 95,83
02:00 115,00 Si 230,00
02:10 265,00 Si 574,17
10/09/2015 FELIPE CUBEROS SOCIO REVIEWS AND INTERNAL DISCUSSION OF 00:40 390,00 Si 260,00
11/09/2015 DAVIDANTONIO ASOCIADO 9 ANSWER 01:20 265,00 Si 353,33 BELTRAN DAVILA
14/09/2015 CAROLINA ASOCIADO 10 01:20 275,00 Si 366,67 PORRAS
_., THE
15/09/2015 ANA IREGUJ ASOCIADO 1 02:20 115,00 Si 268,33
17/09/2015 FELIPE CUBEROS SOCIO 02:50 390,00 Si 1.105,00
17/09/2015 DAVIDANTONIO ASOCIADO 9 03:40 265,00 Si 971,67 BELTRAN DAVILA
17/09/2015 DAVIDANTONIO 03:20 265,00 Si 883,33 BELTRAN DAVILA
COMMENTS
462
P<3gina 2 de 4
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 79.259
Seiiores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fechal Date
Abogado I Lawyer
Nivel/ Level
Descripc16n I Descrlptlo:n Tlempo Tarifa Facturable /Time /Rate I Billable
18/09/2015 DAVIDANTONIO ASOCIADO 9 02:10 265,00 Si BELTRAN DAVILA
21/09/2015 FELIPE CUBERO$ SOCIO 02:30 390,00 Si
21/09/2015 DAVID ANTONIO ASOCIADO 9 01:30 265,00 Si BELTRAN DAVILA
25/09/2015 DAVID ANTONIO ASOCIADO 9 01:45 265,00 Si BELTRAN DAVILA -25/09/2015 FELIPE CUB EROS SOCIO ANALYSIS ANO INTERNAL DISCUSSIONS AS 00:30 390,00 Si
28/09/2015 FELIPE CUBERO$ SOCIO 00:50 390,00 Si
28/09/2015 DAVID ANTONIO ASOCIAD09 01:30 265,00 Si BELTRAN DAVILA
30/09/2015 DAVID ANTONIO ASOCIADO 9 00:15 265,00 Si BELTRAN DAVILA
Sub total Case I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVJCES
DESCUENTOS I DISCOUNT
TOTAL
Valor I Amount USA
574,17
975,00
397,50
463,75
195,00
325,00
397,50
66,25
8.502,50
8.502,50
0,00
8.502,50
463
Pilgina 3 de 4
Philippi Prietocarrizosa &urfa ANEXO DE GASTOS FACTURAI EXPENSE INVOICE : 79.259.
Senores I Messrs: KPMG LLP
Caso I Matter: MIN ERA SEAFIELD SAS
Director del proyecto I Attendant: JORGE E. Dl TERLIZZI
Tipo Gasto /Expenses
GASTOSDE TELEFONO Y FAX
GASTOSDE TELEFONO Y FAX
Fecha I Date
31/08/2015
30/09/2015
Proveedor I Provider
PHILIPPI, PRIETOCARRIZOSA & URIAS.A.S
PHILIPPI, PRIETOCARRIZOSA & URIAS.A.S
Documento I Invoice
Observaciones I Notes
T75565
T75671
CONSUMOS TELEFONICOS (GEL, DON, DDI): 0110812015 A 3110812015
CONSUMOS TELEFONICOS (GEL, DON, DDI): 0110912015 A 30/09/2015
Subtotal Caso I Matter. MIN ERA SEAFIELD SAS
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GASTO ADMIN. I ADMIN. EXPENSES
IVA GASTOS ADMIN. I VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
Valor I Amount USA
7,64
15,16
22,80
22,80
3,65
26,45
1,14
0,18
1,32
27,77
464
•
Philippi Prietocarrizosa &urfa
Tarifa Abogado I Lawyer
Tarifa 115,00 USA
ANAIREGUI
CAMILA GOMEZ
Tarifa 265,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 275,00 USA
CAROLINA PORRAS
Tarifa 390,00 USA
FELIPE CUBEROS
Resumen de Tiempos/Summary of Invoice No: F-79.259/15
Cliente I Client: KPMG LLP Caso I Matter: 81911·MINERA SEAFIELD SAS
Tarifa I Rate
Total Caso
Total
115
115
265
275
390
nempo /Time
02:20 02:50
17:40
01:20
07:20
31:30
31:30
Pclgina 4 de 4
USA
268,33 325,83
4.681,67
366,67
2.860,00
8.502,50
8.502,50
465
Philippi Prietocarrizosa &uri a
SE~ORES I Sirs KPMG LLP NIT:444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENT A No./ Invoice No.
79960
FECHAI Date CIUDAD I City
BOGOTA, D.C. Bay Adelaide Center 333 Bay Street, Suite 4600 Toronto, ON MSH 255 TORONTO
november, 20th 2015
CANADA
REF: MIN ERA SEAFIELD SAS
SU REF I Your Ref:
DESCRIPCIONI Description
Honorarios Profesionales I Legal Services HONORARIOSI Services
IVA I Sales Tax
TOTAL HONORARIOS I Total Services
SUBTOTAL I.V.A 16,00 % TOTAL FACTURA I Total Invoice
PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800.240.450-2 SOMOS GRANDE$ CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001
SomosAutoretenedores- Resoluci6n 02613 del22 de Marzo de 2006 Responsables IVA RE!gimen ComUn
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n par IVA e JCA Responsables ICA Bogota : Actividad Econ6mica 6910 - 1 Tarifa 6 .9 par mil
MONEDAI Currency
DOLLARS
1.725,83 276,13
2.001,97
1.725,83 276,13
2.001,97
FACTURACI6N GENERADA POR COMPUTADORACOGIENDOSE AL ARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACIONAUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 06/01/2015. NUMERACION DESDE: 75.001 HASTA: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
466
Pc3glna 1 de 2
Philippi Prietocarrizosa &uri a
DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 79.960
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
Nivel I Level
Descripci6n I Description Tlempo Tarifa Facturable /Time /Rate I Billable
01/10/2015 EMIUAARANGO ASOCIADO 1 TRANSLATION 00:30 115,00 Si
01/10/2015 DAVID ANTONIO 01:00 265,00 Si BELTRAN DAVILA
06/10/2015 DAVID ANTONIO ASOCIADO 9 00:20 265,00 Si BELTRAN DAVILA
07/10/2015 FELIPE CUB EROS sacra FOLLOW-UP OF ISSUES RELATED TO 00:30 390,00 Sl
07/10/2015 DAVID ANTONIO ASOCIADO 9 00;50 265,00 Si BELTRAN DAVILA
08/10/2015 FELIPE CUB EROS SOCIO CALL WlTH THE CLIENT AND MCMILLAN TO 00;50 390,00 Si
08/10/2015 DAVID ANTONIO ASOCIADO 9 CONFERENCE CALL ON 00:50 265,00 Si BELTRAN DAVILA -
22/10/2015 DAVID ANTONIO ASOCIADO 9 00:35 265,00 Si BELTRAN DAVILA
28/10/2015 DAVID ANTONIO ASOCIAD09 CONFERENCE CALL ON- 00:20 265,00 Si BELTRAN DAVILA
30/10/2015 DAVID ANTONIO ASOCIAD09 EMAIL ON. 00:25 265,00 Si BELTRAN DAVILA
Sub total Case I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
Valor I Amount USA
57,50
265,00
88,33
195,00
220,83
325,00
220,83
154,58
88,33
110,42
1.725,82
1.725,82
0,00
1.725,82
467
Philippi Prietocarrizosa &urfa
Tarifa Abogado I Lawyer
Tarifa 115,00 USA
EMILIA ARANGO
Tarifa 265,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 390,00 USA
FELIPE CUBEROS
Resumen de Tiempos/Summary of Invoice No: F-79.960/15
Cliente /Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa I Rate
115
265
390
Total Caso
Total
Tiempo I Time
00:30
04:20
01:20
06:10
06:10
Pilgina 2 de 2
USA
57,50
1.148,32
520,00
1.725,82
1.725,82
468
Philippi Prietocarrizosa &urla
SENORES I Sirs KPMG LLP NIT:444446993 ATN: PHILIP J REYNOLDS
FACTURA DE VENTA No./ Invoice No.
80331
[ FECHA I Date CIUDAD I City
BOGOTA, D.C. Bay Adelaide Center 333 Bay Street, Suite 4600 Toronto, ON MSH 255 TORONTO
( december, 2nd 2015
CANADA
REF: MIN ERA SEAFIELD SAS
SU REF I Your Ref:
DESCRIPCIONI Description
Honorarios Profesionales I Legal Services HONORARIOSI Services
IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses IVA I Sales Tax
TOTAL GASTOS I Total Expense
SUBTOTAL
I.V.A 16,00 % TOTAL FACTURA I Total Invoice
Pay Directly by Fed Wire ABA or FW 066010720 Banco de Bogota Miami Agency- Miami, Florida Swift Code or Bank Identifier Code (BIC): BBOGUS3M Final Beneficiary: PHILIPPI PRIETOCARRIZOSA & URIA S.A.S. Account No.: 61648 Please Include invoice Number
PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800.240.450-2 SOMOS GRANOES CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001
SomosAutoretenedores- Resoluci6n 02613 del22 de Marzo de 2006 Responsables IVA Regimen ComUn
Actividad Econ6mica 6910 Agente retenedor de IVA e ICA
Favor no efectuar retenci6n por IVA e ICA Responsables ICA Bogota : Actividad Econ6mica 6910 - 1 Tarifa 6.9 por mil
MONEDAI Currency
DOLLARS
1.970,00 315,20
2.285,20
0,81 0,13
0,94
1.970,81
315,33
2.286,14
-·-•"'-'"-•"-'" ,_,,,,-~,
' .
FACTURACI6N GENERADA POR COMPUTADOR ACOGIENDOSE ALARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001224233 DE FECHA: 06/01/2015. NUMERACJON DESDE: 76.001 HASTA: 85.000
lmpreso por PHILIPPI PRIETOCARRIZOSA & URIA S.A.S.- Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
469
P21gina 1 de 3
Philippi Prietocarrizosa &uri a DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 80.331.
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Nivell Oescripcl6n I Description Tiempo Tarifa Facturable Date Lawyer Level
19/11/2015 CAROLINA ASOCIADO 10 PORRAS
19/11/2015 DAVID ANTONIO ASOCIADO 9 BELTRAN DAVILA
20/11/2015 DAVID ANTONIO ASOCIADO 9 BELTRAN DAVILA
20/11/2015 FELIPE CUBEROS SOCIO
/Time
00:15
01:55
ADDITIONAL COMMENTS AND 01:20 ADJUSTEMENTS TO., AND DELIVERY TO CLIENT.
REVIEW, ADJUSTMENTS AND INTERNAL 02:40 DISCUSSION
Sub total Caso I Matter. MIN ERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
/Rate I Billable
275,00 Si
265,00 Si
265,00 Si
390,00 Si
Valor I Amount USA
68,75
507,92
353,33
1.040,00
1.970,00
1.970,00
0,00
1.970,00
470
Philippi Prietocarrizosa &urfa
Senores I Messrs: KPMG LLP
Case I Matter: MIN ERA SEA FIELD SAS
Director del proyecto I Attendant:
Tipo Gasto /Expenses Fecha I Date
JORGE E. Dl TERLIZZI
Proveedor I Provider Documento I Invoice
Pclgina 2 de 3
ANEXO DE GASTOS FACTURAI EXPENSE INVOICE : 80.331
Observaciones I Notes Valor I Amount USA
GASTOS DE TELEFONO Y FAX
31/10/2015 PHILIPPI. PRIETOCARRIZOSA & URIAS.A.S
T75827 CONSUMOS TELEFONICOS (GEL, DDN, DDI): 01110/2015A3111012015
0,77
Subtotal Caso I Matter. MIN ERA SEAFIELD SAS
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GASTO ADMIN. I ADMIN. EXPENSES
IVA GASTOS ADMIN. I VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
0,77
0,77 0,12
0,89
0,04
0,01
0,05
0,94
471
Philippi Prietocarrizosa &urfa
Tarlfa Abogado I Lawyer
Tarifa 265,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 275,00 USA
CAROLINA PORRAS
Tarifa 390,00 USA
FELIPE CUBEROS
Resumen de Tiempos/Summary of Invoice No: F-80.331/15
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa I Rate
265
275
390
Total Caso
Total
Tlempo I Time
03:15
00:15
02:40
06:10
06:10
Pagina 3 de 3
USA
861,25
68.75
1.040,00
1.970,00
1.970,00
472
prietocarrizosa C;d: lt.'liJ 'i if::;; -:;>: l'l".i")J Uo,wt;J D_C. Cr_,lnn:h:<~ ;r+. ·- h:'l) J::i:- ~:t,('T/i_!i,[j:_r f';p; I [!)iII:;?~:-- :-'f.l:' r r•' )idpn(:!·- ·: <l r·" r.~c--,:..O!l ,. >'.'\\'',\' p··rc 1 OCil r r··;·~··:>-l.Cl"lr
CC No. I Account Number: 120411 1911212014 Bogota D.C.
KPMG LLP NIT:444446993
DEBE A I OWES TO:
PRIETO & CARRIZOSA S.A. NIT: 800240450-2
Fecha I Date: Ciudad I City:
LA SUMA DE NOVENTA Y SIETE DOLARES AMERICANOS CON SETENTA Y TRES CENTAVOS I NINETY SEVEN DOLLARS AND SEVENTY THREE CENTS (USD 97,73)
DESCRIPCION I DESCRIPTION: Por concepto de valor pagado por su cuenta a terceros como intermediaries en el proceso que estamos manejando de acuerdo con los documentos adjuntos. I For the amount paid to a third party as intermediaries in the process we are handling in accordance with the attached documents.
Juan Villamil Departamento de Contabilidad I Accounting Department
Somas Grandes Contribuyentes I We are Big Taxpayers Somas Autorretenedores I We are Self Tax Withholders
Instrucciones de Page I Pavment Instructions: Pay Directly by Fed Wire ABA or FW: 066010720 Bank Name: Banco de Bogota Miami Agency, 701 Brickel Ave. Suite 1450. Miami, Florida 33131 Swift Code or Bank Identifier Code (BIC): BBOGUS3M Final Beneficiary: Prieto y Carrizosa S.A. Account Number: 61648
N/Ref: 1049
Please include the invoice(s) number which your payment refers to and confirm us the payment as soon as possible to our mail [email protected]. Please do not send checks
473
PAgina 1 de 1
prietocarrizosa r-------------------------------------------·-··--------------·-··-····-------------------------------------------------------------------------------· j SERORESIMESSRS
L~~~~-------~------ -- -='----cr-~,--r·--·····-·····-···--------·----·---····-·······--··-···-·-·-;;e~:.i-i:i:e-oeG:.isrosl·&;;eNs~s--------------------------··--·--····--·········-··············-··-·······-·1
:----------------·---------------------------·---··············--·--------·········---------------------------·------------.--·-------·····-··········-··········-·······-··············--·-···················---· ! # TipEo de Gasto I Proveedor I Provider Concepto I Description Do,cum,ento I Fecha I Date Pesos (Col) $ D 0116/ar(eUsS/D'• !
; xpenses nvo ce o ars 1 i r·--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------·······-·: I 1 I INSCRIPCIONY 12128455 14/11/2014 $228.200 USD97,73 I I
I '
I i '
l-~------------------------~~-----------------C r-··---------···---···---------·----------······--·----------···--·······-·-··-···-··-··············--·-----------·-------·--··---··--·~·-··-···-·····----····;·-·····-···-··--·----·;
i i Pesos (Col)$ 1 Dollars (USD) 1
l--------------------------------------------------------------------~~~~~~~~~-~~~~~~~~~~~~~~~L:::=~:~~~:~~~l= == ~u_~~s11J
474
----·-·· I RADICADO No. RECIBO No. SOLICIT ANTE
SOLICIT ADO FECHA HORA MATRiCULA NUC RUE No. USUARIO SEDE CONSECUTIVO
IVA VR. TOTAL .
2 5 NOV 201~
CERTIFICADO
CONSIGNACI6N -1-:c=::-'-·--------
ISUBTOT IVA
I TOTAL ,
- USUARIO-
475
prietocarrizosa N.I.T. 800.240.450-2
SENORES I Sirs KPMG LLP NIT: 444446993 ATN: PHILIP J REYNOLDS BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON M5H 2S5 TORONTO
REF: MIN ERA SEAFIELD SAS
Honorarios Profesionales I Legal Services HONORARIOS/ Services IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses IVA I Sales Tax TOTAL GASTOS I Total Expense
SUB TOTAL I.V.A 16,00 % TOTAL FACTURA I Total Invoice
FACTURA DE VENT A No./ Invoice No.
59217
FECHA/ Dale CIUDAD ICily
december, 101h 2014 BOGOTA, D.C.
SOMOS GRANDES CONTRIBUYENTES RESOLUCION 11076 DE OICIEMBRE 14 DE 2001 Somas Autoretenedores- Resolucl6n 02613 del 22 de Marzo de 2006
Responsables IVA Regimen ComUn Actlvldad Econ6m!ca 6910
Agente retenedor de IVA e ICA Favor no efectuar retenci6n por IVA e ICA
Responsables ICA Bogota : Actividad Econ6mica 6910- 1 Tarifa 6.9 par mil
DOLLARS
17.500,84 2.800,13
20.300,98
349,19 55,87
405,07
17.850,04 2.856,01
20.706,04
FACTURACI6N GENERADA POR COMPUTADOR ACOGIENDOSE AL ARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORlZADA POR LA DIAN MEDIANTE RES. No.RES 320001195214 DE FECHA: 1511012014. NUMERACION DESDE : 58.048 HASTA: 75.000
lmpreso par PRIETO & CARRIZOSAS.A.- Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.~ COLOMBIA
476
prietocarrizosa N.I.T. 800.240.450-2
Seiiores I Sirs: KPMG LLP Descripci6n Caso I Malter: MINERA SEAFIELD SAS
Director del Proyecto I Altendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I NlveJ/ Descripci6n I Description Date Lawyer Level
04/11/2014 JORGE ANDRES ASOCIADO 3 BEETAR
04/11/2014 DAVID ANTONIO ASOCIAD08 BELTRAN DAVILA
04/11/2014 FELIPE CUBEROS SOCIO 2
04/11/2014 JORGEANDRES ASOCIAD03 BEETAR
05/11/2014 FELIPE CUBEROS SOCIO 2
05/11/2014 DAVIDANTONIO BELTRAN DAVILA
0511112014 ANA IREGUI ASOCIADO 1
06/11/2014 DAVIDANTONIO ASOCIADO 8 BELTRAN DAVILA
0611112014 FELIPE CUBEROS SOCIO 2
P.3gina 1 de 8
DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 59.217
Tiempo Tarifa Facturable Valor/ /Time /Rate I Billable Amount USA
00:30 150,00 Sl 75,00
02:40 255,00 Sl 680,00
02:30 385,00 Sl 962,50
02:30 150,00 Sl 375,00
00:20 385,00 Sl 128,33
02:50 255,00 Sl 722,50
01:30 115,00 Si 172,50
02:40 255,00 Sl 660,00
01:50 365,00 Si 705,63
477
prietocarrizosa N.I.T. 800.240.450-2
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
CATALINA UCROS
07/11/2014 FELIPE CUBEROS
07/11/2014 DAVIDANTONIO BELTRAN DAVILA
07/1112014 ANA IREGUI
07/11/2014 JORGEANDRES BEETAR
07/11/2014 JORGEANDRES BEETAR
10111/2014 FELIPE CUBEROS
10/11/2014 JORGEANDRES BEETAR
Nivel/ Level
ASOCIADO 1
SOCIO 2
ASOCIADOB
ASOCIADO 1
ASOCIAD03
ASOCIAD03
SOCIO 2
ASOCIAD03
Oescripci6n I Description
Piigina 2 de 8
DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 59.217
Tiempo ITime
02:00
02:30
01:10
02:00
00:30
01:30
01:10
Tarifa /Rate
Facturable I Billable
115,00
385,00 s;
255,00 Sl
115,00 s;
150,00 Sl
150,00 Sl
385,00 s;
150,00 s;
Valor/ Amount USA
770,00
637,50
134,17
300,00
75,00
577,50
175,00
478
ragina 3 de a
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 59.217
senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Nivel/ Descripci6n I Description Date Lawyer Level
10/11/2014 JORGE ANDRES ASOCIADO 3 BEETAR
10/11/2014 DAVID ANTONIO BELTRAN DAVILA
10/1112014 JORGE ANDRES ASOCIAD03 CONFERENCE CALL VVITH FELIPE CUBEROS BEETAR -
11/11/2014 FELIPE CUBEROS SOCIO 2
11111/2014 JORGE ANDRES ASOCIAD03 MODIFICATIONS T BEETAR -
11111/2014 JORGE ANDRES ASOCIAD03 BEETAR
1111112014 DAVID ANTONIO ASOCIAD08 FINAL DRAFTING AND DELIVERY OF BELTRAN DAVILA
12/1112014 DAVID ANTONIO ASOCIADOS BELTRAN DAVILA
12/11/2014 JORGE ANDRES ASOCIAD03 BEE TAR
13/11/2014 DAVID ANTONIO ASOCIADO 8 BELTRAN DAVILA
Tiempo Tarifa Facturable Valor/ !Time /Rate I Billable Amount USA
00:20 150,00 Si 50,00
00:20 255,00 Si 85,00
01:00 150,00 Si 150,00
00:50 385,00 Si 320,83
00:40 150,00 Si 100,00
00:20 150,00 Si 50,00
02:20 255,00 Sl 595,00
01:10 255,00 Si 297,50
00:40 150,00 Si 100,00
01:10 255,00 Si 297,50
479
pri'etocarrizosa N.I.T. 800.240.450-2
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
13/11/2014 FELIPE CUBEROS
14/11/2014 JORGE ANDRES BEETAR
14/11/2014 JORGE ANDRES BEETAR
14/11/2014 DAVID ANTONIO BELTRAN DAVILA
14/11/2014 FELIPE CUBEROS
14/1112014 JORGE ANDRES BEETAR
18/1112014 JORGE E. Dl TERLIZZI
18/11/2014 JORGE ANDRES BEETAR
18/t1/2014 JORGE ANDRES BEETAR
19/11/2014 JORGE ANDRES BEETAR
19/11/2014 JORGE ANDRES BEETAR
19/11/2014 FELIPE CUBEROS
Nivel/ Level
SOCJO 2
ASOCJADO 3
ASOCIADO 3
ASOCIADO 8
SOCIO 2
SOCIO 3
ASOCIAD03
ASOCIAD03
SOCIO 2
Descripcl6n I Description
P<lgina 4 de 8
DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 59.217
Tiempo Tarifa Facturable /Time /Rate I Billable
01:40 385,00 Sl
00:30 150,00 Sl
00:30 150,00 Sl
03:10 255,00 Sl
01:30 385,00 Si
01:30 150,00 Sl
01:00 395,00 Sl
00:40 150,00 Si
00:20 150,00 Sl
00:30 150,00 Sl
01:30 150,00 Sl
00:30 385,00 Sl
Valor/ Amount USA
641,67
75,00
75,00
807,50
577,50
225,00
395,00
100,00
50,00
75,00
225,00
192,50
480
Pagina s des
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 59.217
Seriores I Sirs: KPMG LLP Descripci6n Case I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Nivel/ Descripci6n I Description Tiempo Tarifa Facturable Valor/ Date Lawyer Level /Time /Rate I Billable Amount USA
20/11/2014 FELIPE CUBEROS SOCIO 2 COORDINATIONS AND E~MAIL EXCHANGES 00:30 385,00 Sl 192,50
20/11/2014 JORGE ANDRES ASOCIAD03 00:30 150,00 Sl 75,00 BEETAR
20/11/2014 JORGE ANDRES ASOCIAD03 ARRANGMENTS FOR THE TRANSLATION. 00:30 150,00 Sl 75,00 BEETAR
20/1112014 DAVID ANTONIO ASOCIAD08 01:20 255,00 Sl 340,00 BELTRAN DAVILA
21/11/2014 JORGE ANDRES ASOCIAD03 00:20 150,00 Sl 50,00 BEETAR
2111112014 FELIPE CUBEROS SOCIO 2 00:40 385,00 Sl 256,67
24/11/2014 FELIPE CUBEROS SOCI02 01:40 385,00 Sl 641,67
24/11/2014 JORGE ANDRES ASOCIAD03 00:30 150,00 Sl 75,00 BEETAR
24/11/2014 JORGE ANDRES ASOCIAD03 00:20 150,00 Sl 50,00 BEETAR
24/1112014 JORGE ANDRES ASOCIAD03 02:10 150,00 Si 325,00 BEETAR
24/11/2014 DAVID ANTONIO ASOCIADOS 02:50 255,00 Sl 722,50 BELTRAN DAVILA
481
Pilgina 6 de 8
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 59.217
Selia res I Sirs: KPMG LLP Descripci6n Caso I Matler: MINERA SEAFIELD SAS
Director del Proyecto I Atlendant: JORGE E. Dl TERLIZZI
Fecha I Abogado I Nivel/ Date Lawyer Level
25/11/2014 JORGE ANDRES ASOCIAD03 BEETAR
25/11/2014 JORGE ANDRES ASOCIAD03 BEETAR
25/11/2014 JORGE ANDRES ASOCIAD03 BEETAR
25/11/2014 FELIPE CUBEROS SOCI02
26/1112014 JORGEANDRES ASOCIADO 3 BEHAR
26/11/2014 FELIPE CUBEROS SOCIO 2
27/11/2014 DAVIDANTONIO ASOCIADO 8 BELTRAN DAVILA
27/11/2014 JORGEANDRES BEETAR
Descripci6n I Description Tiempo Tarifa Facturable /Time /Rate I Billable
PREPARATION OF COMMUNICATION 01:00 150,00 Sl
00:40 150,00 Sl
01:30 150,00 Si
00:30 385,00 Sl
00:30 150,00 Si
01:40 385,00 Si
00:30 255,00 Si
02:00 150,00 Si
Sub total Caso I Matler. MINERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
Valor/ Amount USA
150,00
100,00
225,00
192,50
75,00
641,67
127,50
300,00
17.500,84
17.500,84
0,00
17.500,64
482
Pagina 7 deB
prietocarrizosa N.I.T. 800.240.450-2 ANEXO DE GASTOS FACTURA/ EXPENSE INVOICE: 59.217
Senores I Messrs: KPMG LLP Caso I Matter: MIN ERA SEAFIELD SAS
Director del proyecto I Attendant: JORGE E. Dl TERLIZZI
Tipo Gasto /Expenses
GASTOS DE TRAMITESY LICENCIAS GASTOS DE TRAMITES Y UCENCIAS GASTOS DE TRAMITESY LICENCIAS
GASTOS DE TRAMITES Y LICENCIAS
GASTOS DE PASAJES AEREOS NAClONALES
GASTOS DE CASINO Y RESTAURANTE
GASTOS DE TAXIS Y BUSES
GASTOS DE TELEFONO Y FAX
GASTOS NOTARIALES
Fecha I Date
01/10/2014
01110/2014
20/10!2014
20/10/2014
Proveedor I Provider
20/10/2014 WORLD TOURS LTOA.
20110/2014 IMC AIRPORT SHOPPES S.A.S.
20/1012014 VARIOS
31/10/2014 PRIETO & CARRIZOSA S.A.
18/11/2014 NOTARIA41 DE BOGOTA - VIRVIESCAS CALVETE AU RIO
Oocumento I Invoice
3454459
3454441
001465
006685932
604832
80035
20102014
TI4076
139586
Observaciones I Notes
LV#4487: TRAMITES Y LICENCIAS EN VIAJE DR JORGE BEETAR A
LV#4487:TRAMITES Y LICENCIAS EN VIAJE DR JORGE BEETARA
LV#4487: TIQUETES AEREOS EN VIAJE DR JORGE BEETAR A
LV#4487: REFRIGERIOS EN VIAJE DR JORGE
LV#4487: TAXIS iENiiiViiiAJiiiiEiiDIR JORGE BEETAR
CONSUMOS TELEFONICOS (CEL, DON, DOl): 0111012014A31110/2014
Subtotal Caso I Matter. MINERA SEAFIELD SAS
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GASTO ADMIN./ ADMIN. EXPENSES
IVA GASTOS ADMIN./ VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN,/ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
Valor/ Amount USA
8,51
8,51
3,66
30,45
172,00
8,20
76,60
22,26
2,38
332,56
332,57 53,21
385,78
16,63
2,66
19,29
405,07
483
prietocarrizosa Resumen de Tiempos/Summary of Invoice No: F-59.217/14
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa Abogado I Lawyer
Tarifa 115,00 USA
ANAIREGUI
CATALINA UCROS
Tarifa 150,00 USA
JORGE ANDRES BEETAR
Tarifa 255,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 385,00 USA
FELIPE CUB EROS
Tarifa 395,00 USA
JORGE E. Dl TERLIZZI
Tarifa I Rate
Total Caso
Total
115
115
150
255
385
395
Tiempo I Time
02:40
02:00
25:10
23:30
17:40
01:00
72:00
72:00
Pagina 8 de 8
USA
306,67
230,00
3.775,00
5.992,50
6.801,67
395,00
17.500,84
17.500,84
484
prietocarrizosa N.I.T. 800.240.450-2
SENORES I Sirs KPMG LLP NIT: 444446993 ATN: PHILIP J REYNOLDS BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON MSH 2S5 TORONTO
REF: MINERA SEAFIELD SAS
DESCRIPCION/ Description
Honorarios Profesionales I Legal Services HONORARIOS/ Services IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses IVA I Sales Tax
TOTAL GASTOS I Total Expense
SUBTOTAL I.V.A 16,00 %
TOTAL FACTURA I Total Invoice
Pay Directly by Fed Wire ABA or FW 066010720 Banco de Bogota Miami Agency- Miami, Florida Swift Code or Bank Identifier Code (SIC): BBOGUS3M Final Beneficiary: Prieto y Carrizosa S.A. Account No.: 61648 Please Include invoice Number
FACTURA DE VENT A No./ Invoice No.
58245
FECHA/ Date CIUDAD I City
october 23, 2014 BOGOTA, D.C.
SOMOS GRANDES CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001 Somas Autoretenedores - Resoluci6n 02613 del 22 de Marzo de 2006
Responsables IVA Regimen ComUn Actlvidad Econ6mica 6910
Agente retenedor de IVA e ICA Favor no efectuar retenci6n por IVA e ICA
Responsables ICA Bogota: Actividad Econ6mica 6910-1 Tarifa 6.9 por mil
MONEDA! Currency
DOLLARS
15.446,67 2.471,47
17.918,14
949,56 151,93
1.101,49
16.396,23 2.623,40
19.019,63
.. . --··· ..
' .
..... , ...... . . i
FACTURACI6N GENERADA POR COMPUTADOR ACOGIENDOSE AL ARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001195214 DE FECHA: 15/10/2014. NUMERACION DESDE: 58.048 HASTA: 75.000
lmpreso por PRIETO & CARRIZOSA S.A.- Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
485
Pagina 1 de 6
prietocarrizosa N.J.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 58.245-
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
22/09/2014 CRISTINA MOURE VIE CO
23/09/2014 CRISTINA MOURE VIECO
23/09/2014 CESAR JOSE BARRERO
24/09/2014 JORGE E. Dl TERLIZZI
25/09/2014 JORGE E. Dl TERLIZZI
25/09/2014 LAURAREY PIZANO
26/09/2014 FELIPE CUBEROS
26/09/2014 JORGE E. Dl TERLIZZI
26/09/2014 CRISTINA MOURE VIECO
26/09/2014 ANAIREGUI
Nivel/ Level
ASOCIADO 9
ASOCIADO 9
ASOCIADO 12- D
sacra 3
SOCIO 3
ASOCIAD07
SOCIO 2
SOCIO 3
ASOCIADO 9
Descrlpcl6n I Description
FOLLOW UPON NU .... DRAFTING
TELEPHONE CALLS WITH
INTERNAL REVIEWS AND DISCUSSIONS AS
CONFERENCE CALLS WITH KPMG-FOLLOW UP ON SEVERAL ISSUES.
CONFFERENCE CALL WITH THE CLIENT. -
Tiempo /Time
02:20
00:40
02:30
04:30
03:00
00:50
02:00
03:00
01:00
00:40
Tarifa /Rate
Facturable I Billable
265,00 Si
265,00 Si
340,00 Si
395,00 Si
395,00 Si
245,00 Si
385,00 Si
395,00 Si
265,00 Si
75,00 Si
Valor I Amount USA
618,33
176,67
850,00
1.777,50
1.185,00
204,17
770,00
1.185,00
265,00
50,00
486
prietocarrizosa N.I.T. 800.240.450-2
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
29/09/2014 CRISTINA MOURE VIECO
29/09/2014 ANA JREGUI
29/09/2014 JORGEANDRES BEETAR
29/09/2014 FELIPE CUBEROS
29/09/2014 CRISTINA MOURE VIECO
30/09/2014 MARIA FERNANDA OLANO
30/09/2014 ANA IREGUI
30/09/2014 FELIPE CUB EROS
Nivel/ Level
ASOCIADO 9
PARALEGAL
ASOCIADO 3
SOCIO 2
ASOCIADO 9
PARALEGAL
SOCI02
Descripci6n I Description
Pcigina 2 de 6
DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 58.245
Tlempo /Time
00:30
01:40
02:30
04:10
03:20
01:10
01:50
08:00
Tarifa /Rate
Facturable I Billable
265,00 Si
75,00 Si
150,00 Si
385,00 Si
265,00 Si
265,00 Si
75,00 Si
385,00 Si
Valor I Amount USA
132,50
125,00
375,00
1.604,17
883,33
309,17
137,50
3.080,00
487
P.3gina 3 de 6
pri'etocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 58.245
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
01/10/2014 ANAIREGUI
02/10/2014 FELIPE CUBERO$
Nivel/ Level
Descripci6n I Description Tiempo Tarifa Facturable /Time /Rate I Billable
Sub total Case I Matter. MINERA SEAFIELD SAS
TOTAL HONORARIOS !TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
385,00
75,00 Si
385,00 Si
Valor I Amount USA
50,00
641,67
15.446,68
15.446,68
0,00
15.446,68
488
Pilgina 4 de 6
prietocarrizosa N.I.T. 800.240.450-2 ANEXO DE GASTOS FACTURN EXPENSE INVOICE : 58.245
senores I Messrs: KPMG LLP
Caso I Matter: MIN ERA SEA FIELD SAS
Director del proyecto I Attendant: JORGE E. Dl TERLIZZI
Tipo Gasto /Expenses Fecha I Proveedor 1 Provider Documento f Observaciones I Notes Valor 1 Date Invoice Amount USA
GASTOS DE 18/09/2014 -- 1081 REGISTRO MER CANTIL
2,79
18/09/2014 3438275 9,76
18/09/2014 3437776 9,76
18/09/2014 3437623 9,76
18/09/2014 3437599 9,76
18/09/2014 3437576 9,76
18/09/2014 3437485 9,76
18/09/2014 136473 337,38
GASTOSDE 19/09/2014 487 74,38 TRADUCCIONES
GASTOS DE UTILES 30/09/2014 PRIETO & CARRIZOSA 30092014 48,35 Y PAPELERIA Y S.A. FOTOCOPIAS GASTOS DE PASAJES 30/09/2014 WORLD TOURS LTDA. 601524 LV#4450: TIQUETES AEREOS EN 301,92 AEREOS NACIONALES VIAJE DRI A
GASTOS DE TAXIS Y 30/09/2014 VARIOS 30092014 LV#4450: TAXIS EN VIAJE DR 78,05 BUSES
GASTOS DE TAXIS Y 01/10/2014 CAJA MENOR P&C 24201 2,93 BUSES
Subtotal Caso f Matter. MINERA SEAFIELO SAS 904,34
489
GASTOS/EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GAS TO ADMIN. I ADMIN. EXPENSES
IVA GASTOS ADMIN. I VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTAL GASTOS I TOTAL EXPENSES
Pagina 5 de 6
904,34-
144,69
1.049,04
45,22
7,23
52,45
1.101,49
490
, prietocarrizosa Resumen de Tiempos/Summary of Invoice No: F-58.245/14
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa
Abogado I Lawyer
Tarifa 75,00 USA
ANAIREGUI
Tarifa 150,00 USA
JORGE ANDRES BEETAR
Tarifa 245,00 USA
LAURA REY PIZANO
Tarifa 265,00 USA
MARIA FERNANDA OLANO
CRISTINA MOURE VIE CO
Tarifa 340,00 USA
CESAR JOSE BARRERO
Tarifa 385,00 USA
FELIPE CUBEROS
Tarifa 395,00 USA
JORGE E. OJ TERLIZZI
Tarifa I Rate
Total Caso
Total
75
150
245
265 265
340
385
395
Tiempo I Time
04:50
02:30
00:50
01:10 07:50
02:30
18:30
10:30
48:40
48:40
Pagina 6 de 6
USA
362,50
375,00
204,17
309,17 2.075,83
850,00
7.122,51
4.147,50
15.446,68
15.446,68
491
prietocarrizosa N.I.T. 800.240.450-2
SENORES I Sirs KPMG LLP NIT: 444446993 ATN: PHILIP J REYNOLDS BAY ADELAIDE CENTER 333 BAY STREET, SUITE 4600 TORONTO, ON M5H 2S5 TORONTO
REF: MIN ERA SEAFIELD SAS
DESCRIPCION/ Description
Honorarios Profesionales I Legal Services HONORARIOS/ Services IVA I Sales Tax
TOTAL HONORARIOS I Total Services
Gastos lncurridos I Legal Expenses
GASTOS I Expenses IVA I Sales Tax
TOTAL GASTOS I Total Expense
SUBTOTAL I.V.A 16,00 % TOTAL FACTURA I Total Invoice
FACTURA DE VENTA No./ Invoice No.
58745
FECHA/ Date CIUDAD I City
november 19, 2014 BOGOTA, D.C.
SOMOS GRANDE$ CONTRIBUYENTES RESOLUCION 11076 DE DICIEMBRE 14 DE 2001 SomosAutoretenedores- Resoluci6n 02613 del22 de Marzo de 2006
Responsables IVA Regimen ComUn Actividad Econ6mica 6910
Agente retenedor de IVA e ICA Favor no efectuar retenci6n par IVA e ICA
Responsables ICA Bogota : Actividad Econ6mica 6910 - 1 Tarifa 6 .9 par mil
MONEDAI Currency
DOLLARS
34.800,01 5.568,00
40.368,01
838,15 134,10
972,26
35.638,16 5.702,11
41.340,26
FACTURACI6N GENERADA POR COMPUTADOR ACOGIENDOSE ALARTICULO 617 Y 618 DEL ESTATUTO TRIBUTARIO
NUMERACION AUTORIZADA POR LA DIAN MEDIANTE RES. No.RES 320001195214 DE FECHA: 15/10/2014. NUMERACION DESDE: 58.048 HASTA: 75.000
lmpreso por PRIETO & CARRIZOSA S.A.- Nit. 800.240.450-2
Cra. 9 No. 74-08 Ofic. 305 CONMUTADOR: (571) 3268600 FAX: (571) 3268610 e-mail: [email protected] BOGOTA, D.C.- COLOMBIA
492
Pcigina 1 de 9
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 58.745
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
03/10/2014 ANA IREGUI
03/10/2014 FELIPE CUBEROS
03/10/2014 CRISTINA MOURE VIECO
06/10/2014 CRISTINA MOURE VIECO
06110/2014 FELIPE CUBEROS
07/10/2014 FELIPE CUBEROS
08/10/2014 DAVIDANTONIO BELTRAN DAVILA
08/10/2014 CRISTINA MOURE VJECO
08/10/2014 CRISTINAMOURE VI EGO
08/10/2014 CRISTINAMOURE VIECO
Nivel I Level
ASOCIADO 1
SOCIO 2
ASOCIADO 9
ASOCIAOO 9
SOCI02
sacra 2
ASOCIAOO 8
Descripci6n I Description
FOLLOW UP CONFFERENCE CALL TO
ASOCIAOO 9 CONFFERENCE CALL TO DISCUSS THE
Tiempo Tarifa Facturable Valor I /Time /Rate I Billable Amount USA
00:30 75,00 Si 37,50
01:00 385,00 Si 385,00
04:00 265,00 Si 1.060,00
00:30 265,00 Si 132,50
00:40 385,00 Si 256,67
03:10 385,00 Si 1.219,17
01:40 255,00 Si 425,00
00:30 265,00 Si 132,50
00:30 265,00 Si 132,50
00:50 265,00 Si 220,83
493
Pclgina 2 de 9
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 58.745
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
09/10/2014 DAVID ANTONIO BELTRAN DAVILA
09/10/2014 CRISTINAMOURE VIE CO
09/10/2014 FELIPE CUBEROS
10/10/2014 CRISTINAMOURE VIECO
10/10/2014 DAVIDANTONIO BELTRAN DAVILA
14/10/2014 FELIPE CUBEROS
14/10/2014 DAVIDANTONIO BELTRAN DAVILA
Nivel/ Level
ASOCIADO 8
ASOCIAD09
SOCI02
ASOCIADO 9
SOCIO 2
ASOCIADO 8
Descripci6n I Description Tiempo fflme
02:20
01:50
01:20
01:20
00:30
00:30
00:50
Tarifa /Rate
Facturable I Billable
255,00 Si
265,00 Si
385,00 Si
265,00 Si
255,00 Si
385,00 Si
255,00 Sl
Valor I Amount USA
595,00
485,83
513,33
353,33
127,50
192,50
212,50
494
Pilgina 3 de 9
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 58.745
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
15/10/2014 DAVIDANTONIO BELTRAN DAVILA
16110/2014 DAVIDANTONIO BELTRAN DAVILA
16/10/2014 FELIPE CUBEROS
17/10/2014 DAVID ANTONIO BELTRAN DAVILA
17/10/2014 CAROLINA PORRAS
18/10/2014 DAVID ANTONIO BELTRAN DAVILA
18/10/2014 JORGE ANDRES BEETAR
19/10/2014 DAVID ANTONIO BELTRAN DAVILA
19/10/2014 JORGEANDRES BEETAR
Nivel/ Level
ASOCIADO 8
SOCI02
ASOCIADO 8
ASOCIADO 9
ASOCJADO 8
ASOCIA003
Descripci6n I Description
MEETING WITH lABOR TEAMp
PRELIMINARY
CONTINUATION OF DRAFTING OF
Tiempo frime
02:10
02:40
04:10
00:30
01:10
03:20
04:30
02:40
02:30
Tarifa /Rate
Facturable I Billable
385,00
255,00 Si
255,00 Si
385,00 Si
255,00 Si
265,00 Si
255,00 Si
150,00 Si
255,00 Si
150,00 Si
Valor I Amount USA
552,50
680,00
1.604,17
127,50
309,17
650,00
675,00
680,00
375,00
495
Pclgina 4 de 9
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 58.745_
Senores I Sirs: KPMG LLP Descripci6n Case I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
20/10/2014 CAROLINA PORRAS
20/10/2014 DAVIDANTONIO BELTRAN DAVILA
20/10/2014 ANAMARIA BEJARANO
20/10/2014 FELIPE CUBEROS
20/10/2014 JORGE ANDRES BEETAR
21/10/2014 CAROLINA PORRAS
21/10/2014 DAVID ANTONIO BELTRAN DAVILA
21/10/2014 ANAIREGUI
Nivel/ Level
ASOCIADO 9
ASOCIADO 8
SOCI02
ASOCIADO 3
ASOCIADO 9
ASOCIADO 8
ASOCIADO 1
Descripci6n I Description Tiempo /Time
03:20
04:10
00:20
07:20
11:30
00:30
03:10
03:20
Tarifa /Rate
Facturable I Billable
265,00 Si
255,00 Si
115,00 Si
385,00 Si
150,00 Si
265,00 Si
255,00 Si
75,00 Si
Valor I Amount USA
883,33
1.062,50
36,33
2.823,33
1.725,00
132,50
807,50
250,00
496
Pagina s de 9
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 58.745
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MIN ERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
22/10/2014 JORGE ANDRES BEETAR
22/10/2014 ANA IREGUI
22/10/2014 ANAIREGUI
22/10/2014 DAVIDANTONIO BELTRAN DAVILA
22/10/2014 FEliPE CUBERO$
23/10/20-14 DAVIDANTONIO BELTRAN DAVILA
23/10/2014 FELIPE CUB EROS
Nivel/ Level
ASOCIADO 3
ASOCIADO 1
ASOCIAOO 1
ASOCIADO 8
SOCIO 2
ASOCIADO B
SOCI02
Descripci6n I Description
CALLS ON THIS AND OTHER MATIERS. REVIEW, COMPLETION AND ADJUSTMENT
Tiempo Tarifa Facturable /Time /Rate I Billable
385,00
00:30 150,00 Si
00:30 75,00 Si
03:40 75,00 Si
04:30 255,00 Si
05:10 385,00 Si
03:40 255,00 Si
01:40 385,00 Si
Valor I Amount USA
3,33
75,00
37,50
275,00
1.147,50
1.989,17.
935,00
641,67
497
Pagina 6 de 9
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No /TIME DESCRIPTION INVOICE: 58.745.
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
24/10/2014 FELIPE CUBEROS
24/10/2014 DAVIDANTONIO BELTRAN DAVILA
25/10/2014 DAVID ANTONIO BELTRAN DAVILA
27/10/2014 JORGE ANDRES BEETAR
27/10/2014 DAVID ANTONIO BELTRAN DAVILA
27/10/2014 FELIPE CUB EROS
28/10/2014 DAVIDANTONIO BELTRAN DAVILA
28/10/2014 FELIPE CUBEROS
29/10/2014 JORGEANDRES BEETAR
Nlvel/ Level
SOCIO 2
ASOCIADO 8
ASOCIADO 8
ASOCIADO 3
ASOCIADO 8
SOCI02
ASOCIADO 8
SOCIO 2
ASOCIADO 3
Descripci6n I Description
REVIEW, ANALYSIS AND COMPLETION OF
Tiempo Tarlfa Factorable /Time /Rate I Billable
01:10 385,00 s;
05:40 255,00 s;
00:20 255,00 s;
01:30 150,00 s;
03:10 255,00 s;
01:50 385,00 s;
02:50 255,00 s;
01:30 385,00 s;
00:30 150,00 s;
Valor I Amount USA
449,17
1.445,00
85,00
225,00
807,50
705,83
722,50
577,50
75,00
498
Pilgina 7 de 9
prietocarrizosa N.I.T. 800.240.450-2 DETALLE DE TIEMPOS No I TIME DESCRIPTION INVOICE: 58.745
Senores I Sirs: KPMG LLP Descripci6n Caso I Matter: MINERA SEAFIELD SAS
Director del Proyecto I Attendant: JORGE E. Dl TERLIZZI
Fecha I Date
Abogado I Lawyer
29/10/2014 FELIPE CUBEROS
30/10/2014 JORGE ANDRES BEETAR
30/10/2014 DAVID ANTONIO BELTRAN DAVILA
30/10/2014 FELIPE CUBEROS
31/10/2014 DAVIDANTONIO BELTRAN DAVILA
Nivel/ Level
SOCI02
ASOCIAD03
ASOCIADOS
SOCI02
Oescripci6n I Description Tiempo /Time
00:20
00:30
07:10
00:40
03:20
Sub total Caso I Matter. MINERA SEAFIELD SAS
TOTAL HONORARIOS I TOTAL FEES LEGAL SERVICES
DESCUENTOS I DISCOUNT
TOTAL
Tarifa Facturable /Rate I Billable
385,00 s;
150,00 s;
255,00 s;
385,00 Si
255,00 Si
Valor I Amount USA
128,33
75,00
1.827,50
256,67
850,00
34.799,99
34.799,99
0,00
34.799,99
499
Pcigina 8 de 9
prietocarrizosa N.I.T. 800.240.450-2 ANEXO DE GASTOS FACTURAI EXPENSE INVOICE: 58.74~
Senores I Messrs: KPMG LLP Case I Matter: MIN ERA SEAFIELD SAS
Director del proyecto I Attendant JORGE E. Dl TERLIZZI
Tipo Gasto /Expenses Fecha I Proveedor I Provider Documento I Observaciones I Notes Valor I Date
GASTOS DE 01/10/2014 DIAZ GOMEZ XIMENA 2963 TRADUCCIONES JUDITH
GASTOS NOTARIALES 03/10/2014 NOTARIA41 DE BOGOTA 137303 - VIRVIESCAS CALVETE ALl RIO
GASTOS DE 07/10/2014 LIMARAS S.A.S. 495 TRADUCCIONES
GASTOS NOTARIALES 09/10/2014 NOTARIA41 DE BOGOTA 137666 - VIRVIESCAS CALVETE AU RIO
Invoice
Subtotal Caso I Matter. MINERA SEAFIELD SAS
GASTOS I EXPENSES
IVA/VAT
SUB TOTAL GASTOS I EXPENSES
GAS TO ADMIN. I ADMIN. EXPENSES
IVA GASTOS ADMIN. I VAT ADMIN. EXPENSES
SUB TOTAL GASTOS ADMIN./ ADMIN. EXPENSES
TOTALGASTOS/TOTALEXPENSES
Amount USA
723,71
1,30
70,64
2,59
798,24
798,24 127,72
925,96
39,91
6,39
46,30
972,26
500
· prie tocarrizosa " Resumen de nempos/Summary of Invoice No: F-58.745/14
Cliente I Client: KPMG LLP Caso I Matter: 81911-MINERA SEAFIELD SAS
Tarifa Abogado 1 Lawyer
Tarifa 75,00 USA
ANAIREGUI
Tarifa 115,00 USA
ANA MARIA BEJARANO
Tarifa 150,00 USA
JORGE ANDRES BEETAR
Tarifa 255,00 USA
DAVID ANTONIO BELTRAN DAVILA
Tarifa 265,00 USA
CAROLINA PORRAS
CRISTINA MOURE VIECO
Tarifa 385,00 USA
FELIPE CUBEROS
Tarifa I Rate
Total Caso
Total
75
115
150
255
265 265
385
Tiempo I Time
08:00
00:20
21:30
54:40
05:00 09:30
34:10
133:10
133:10
Pc1gina 9 de 9
USA
600,00
38,33
3.225,00
13.940,00
1.325,00 2.517,49
13.154,17
34.799,99
34.799,99
501
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