LEGAL PROCEEDINGS
−Removed: July 16, 2024, the Company, through TOBC, filed a lawsuit in the Supreme Court of British Columbia (the “Court”) against
−Removed: their landlords Steven Atkinson, Kathryn Atkinson and Janet Atkinson (the “Landlords”) requesting a declaration that their
−Removed: commercial lease located at 2904 and 2934 Jameson Road, Nanaimo, B.C.
−Removed: V9R 6W8 dated April 1, 2022 by and between TOBC and their Landlords
−Removed: is a valid lease and remains in full force and effect.
−Removed: The Company cannot provide any assurance as to the timing of resolution or outcome
−Removed: of this matter.
January 17, 2025, the Company, through TOBC, filed a lawsuit in the Supreme Court of British Columbia against Harold Steven Atkinson,
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to operate as the licensed facility pertains to TOBC.
+Added: March 4, 2026, Taste of BC Aquafarms Inc.
+Added: (the “Company”) filed a Notice of Application in the Supreme Court of British Columbia
+Added: (Nanaimo Registry) in connection with a dispute with the landlords of the property located at 2930 Jameson Road, Nanaimo, British Columbia.
+Added: The application seeks, among other things, reconsideration and setting aside of a February 23, 2026 order that terminated the Company’s
+Added: lease and granted the landlords immediate possession of the property.
+Added: The Company also seeks relief from forfeiture and reinstatement
+Added: of the lease, or alternatively other interim and related relief.
+Added: The Company’s application asserts that the order was made following
+Added: a hearing at which the Company did not appear and that certain relevant facts were not before the Court, including that basic rent payments
+Added: had been made within the time permitted under the lease and that the parties were engaged in mediation regarding a dispute over alleged
+Added: additional rent & operational contradicting views under the lease.
+Added: A hearing on the application was held on March 9, 2026.
+Added: The presiding
+Added: judge reserved judgment, and a decision has not yet been issued.
+Added: The Company cannot predict the outcome of the proceeding or whether
+Added: the requested relief will be granted.
+Added: Company, together with its subsidiaries, has initiated legal proceedings against an Indonesian seafood supplier, in the U.S.
+Added: Court for the Southern District of Florida.
+Added: The complaint alleges breach of contract, violation of the Florida Deceptive and Unfair Trade
+Added: Practices Act, and unjust enrichment arising from shipments delivered in 2022.
+Added: According to the complaint, certain product lots supplied
+Added: were determined to be rancid and unmarketable following customer complaints and third-party laboratory testing.
+Added: The Company asserts that
+Added: it incurred approximately $0.250 million in direct product losses, in addition to other related costs.
+Added: The Company is seeking monetary
+Added: damages, including consequential damages, as well as other relief.
+Added: The outcome of this matter is currently uncertain, and no assurance
+Added: can be given regarding the timing or ultimate resolution.
Company is waiting for the Defendants to respond and a court date to be granted.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.