KORITE International Inc. – Notice of Sale and Investment Solicitation Process (“SISP”)


On June 30, 2020, KORITE International Inc. (“KORITE”) obtained an initial order issued under the Companies’ Creditors Arrangement Act (the “CCAA”) from the Court of Queen’s Bench of Alberta (the “Court’). BDO Canada Limited has been appointed Monitor.

The Court has authorized a Sale and Investment Solicitation Process (the “SISP”) and Assurgo Enterprises Inc., as Sales Agent, is soliciting proposals from qualified interested parties.

Since 1979, KORITE is the largest & most trusted brand of the colourful gemstone Ammolite and it estimates that it has 90+ percent of the world market.  Ammolite is officially designated as a naturally occurring precious gemstone by The World Jewellery Confederation. KORITE is a vertically-integrated mining, manufacturing and wholesale distribution company with 140+ retail points of sale in North America and sells in 22+ countries including key markets in Asia-Pacific. KORITE has identified key strategic growth opportunities.  KORITE’s assets primarily consist of the KORITE brand; raw & finished Ammonite fossils, Ammolite gemstones and Ammolite jewellery; and, exclusive high-yielding mineral rights – all of substantial value!

The purpose of the SISP is to solicit interest in, and opportunities for, one or more or any combination of (a) a restructuring, recapitalization or other form of reorganization of the business and affairs of KORITE as a going concern, or (b) a sale of all, or substantially all, of KORITE’s assets and/or business operations of KORITE as a going concern or otherwise. The SISP is a two-phased process with the Phase 1 bid deadline set for September 14, 2020, followed by invitation of selected parties to participate in Phase 2. The completion of any proposal shall be subject to the approval of the Court.

Copies of the relevant Court filings and documents and the SISP are available on the Monitor’s website at https://www.bdo.ca/en-ca/extranets/korite/

Interested parties are to contact Assurgo Enterprises Inc. for additional information at KORITE@assurgoenterprises.com.


Calgary, AB

T: 1 (587) 390-7820 ext 102


Vancouver, AB

T: 1 (587) 390-7820 ext. 103