Frequently Asked Questions

A Claimant is someone who:

1. purchased Eligible Kootenay Shares, is not a defendant in the action, and not a person excluded from being a Class Member;
2. has not opted out of the settlement and the action; and
3. submits a properly completed Claim including all required supporting documentation, through the Administrator’s electronic claims portal, by the Claims Bar Deadline, AUGUST 15, 2025.

Currently, it is unknown. Certain expenses must be deducted from the Settlement Fund before it can be distributed. Those expenses include legal fees of 30%, the costs of providing notice, and administration expenses incurred to, among other things, receive claims and distribute compensation.

All expenses must be approved by the Court. The amount that remains after the deduction of those expenses and is available to be distributed to the Authorized Claimants (as defined in the Settlement Administration Plan) is called the “Net Settlement Fund”.

The Settlement Administration Plan sets out the Court-approved way of calculating the amount of money that each Claimant, if eligible, can receive from the Net Settlement Fund.

The first step in the Settlement Administration Plan is finding whether a Claimant suffered a Net Loss from their acquisition of Eligible Kootenay Shares. To suffer a Net Loss, the money paid by the Claimant to buy Eligible Kootenay Shares (“Acquisition Expense”) must exceed the total proceeds paid to the Claimant on the sale, or deemed disposition, of those same shares (“Disposition Proceeds”).

A Claimant with a Net Loss becomes an Authorized Claimant and goes on to have their Notional Entitlement determined. The Notional Entitlement arising out of the purchase of Eligible Shares is calculated by reference to paragraph 24a. to 24c. of the Settlement Administration Plan and the Authorized Claimant’s trading particulars.

After each Authorized Claimant’s Notional Entitlement is found, the Net Settlement Fund will be allocated to Authorized Claimants on a pro rata basis based upon each Authorized Claimant’s Notional Entitlement. What this means is that each Claimant will be entitled to a share of the Net Settlement Fund equal to their relative share of the total Notional Entitlements of all Authorized Claimants.

Authorized Claimants whose pro rata allocation is less than CDN $30.00 will not be paid out because the cost to distribute these funds is expected to be greater than the amount to be distributed. Instead, those amounts will be allocated pro rata to Authorized Claimants whose pro rata allocation is greater than CDN $30.00.