January 18, 2024 - Squamish Chief

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RE-OPENING THE BAG

POLITICAL CHANGE

Find out the latest on the space

MLA Jordan Sturday announces he won’t run again

NEW

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THURSDAY, JANUARY 18, 2024

Weekend Forecast Inside

S Q U A M I S H C H I E F. C O M

‘UNICORN’ NEXII UNDER COURT PROTECTION FROM CREDITORS Nexii owes creditors more than $112M BOB MACKIN BIV

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PHOTO BY GERALD WOLFE

TOGETHER IS BETTER: Sea lions were huddled together on the south side of Porteau Cove Provincial Park on Jan. 14, during record breaking cold temperatures.

GALLERIES TOWNHOUSE

he local, Vancouver-based green building products startup that called itself the fastest in Canada to reach a $1-billion valuation is under court-ordered protection from creditors. B.C. Supreme Court Justice Michael Stephens appointed KSV Restructuring on Jan. 11 to monitor Nexii Building Solutions Inc., which owes creditors more than $112 million. Stephens’ order under the Companies’ Creditors Arrangement Act bought time for Nexii to seek interim financing of up to US$750,000 and granted a stay of proceedings against the company until at least Jan. 22, when the next hearing is scheduled, to protect Nexii and related companies and their directors and officers from legal action. Nexii’s Jan. 10 petition to the court said it owes senior secured lenders Powerscourt Investments XXV LP, Trinity Capital Inc. and Horizon Technology Finance Corp US$79 million and equipment lessors, trade creditors and landlords $6 million. Assets include equipment, accounts receivable, contracts and intellectual property worth a total book value of $69 million. NEXII: Continued on 5

DOWNTOWN VIEW HOME

RARE two level, townhouse w/ exterior entrance on SW corner! Enjoy 850 SF, mtn views, privacy, high ceilings, sunny patio, skylight, gas f/p + range. No one above you! Secured parking + locker.

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37767 Second Avenue NEW LISTING - $1,199,000

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WEST COAST REALTY


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