GLASSRATNER ANNOUNCES SALE AND INVESTMENT SOLICITATION PROCESS FOR PARAGON SALES LTD, LANGENBURG MOTORS (1967) LTD., AND 616001 SASKATACHEWAN LTD

LANGENBURG, SK, April 9, 2026 /CNW/ - GlassRatner Restructuring Inc., in its capacity as court-appointed monitor (in such capacity, the "Monitor") of Paragon Sales Ltd. ("Paragon"), Langenburg Motors (1967) Ltd. ("Langenburg Motors"), and 616001 Saskatchewan Ltd. ("616 Sask", together with Paragon and Langenburg Motors, the "Companies") pursuant to the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the "CCAA"), is conducting a sale and investment solicitation process (the "SISP") in respect of the Companies.

The SISP is intended to solicit interest in, and opportunities for, a sale of, or investment in, all or part of the Companies' assets, shares, and business operations (the "Opportunity"). The Opportunity may include one or more of a restructuring, recapitalization or other form or reorganization of the business and affairs of the Companies as a going concern, or a sale of all, substantially all, or one or more components of the Companies' assets, property and undertaking (the "Property") and business operations (the "Business") as a going concern or otherwise.

SISP PROCEDURE

All interested parties who wish to submit a bid must deliver to the Monitor an executed non-disclosure agreement, an interest letter, and a financial disclosure in accordance with the SISP. Interested parties who wish to submit a bid must deliver a non-binding letter of intent in accordance with the SISP to the Monitor by no later than 5:00 p.m. Central Time, on May 5, 2026.

Interested parties should refer to the SISP procedure (the "SISP Procedure") for information pertaining to other important deadlines and processes thereunder. The deadlines set forth in the SISP Procedure may be changed by the Monitor, in consultation with the Companies and TD. The Monitor is under no obligation to accept the highest bid or any bid submitted in the SISP, nor shall the Monitor, the Companies, or TD have any liability or obligation whatsoever to any person or party for any act or omission related to the process contemplated by the SISP Procedure.

Copies of the Initial Order, the ARIO, the SISP Order, the SISP Procedure and related materials may be obtained from the website of the Monitor at: glassratner.ca/engagements/paragon-sales-ltd

ABOUT THE COMPANIES

Paragon is a franchised General Motors dealership established in 1982 and operating in Langenburg, Saskatchewan alongside Langenburg Motors, a Ford Motor Company of Canada dealership with a 100–year history in the community (est. circa 1926). Together, the two dealerships form a long–standing, well–established automotive group in the region, employing approximately 35 people across both operations. For more information about the Companies, visit www.paragongm.com and www.langenburgmotors.com.

GLASSRATNER RESTRUCTURING INC., in its capacity as court-appointed Monitor of the Companies and not in its personal or corporate capacity

SOURCE GlassRatner Restructuring Inc.

Martin Lin, CFA, CPA, CIRP, Senior Manager, Email: [email protected], Mobile: [phone], 150 York Street, Suite 1600, Toronto, ON, Canada, M5H 3S5