The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Fortem Resources Inc. on June 29, 2022. To qualify as a qualified bidder, interested parties should submit their bids by August 5, 2022. The initial minimum overbid should be in the amount of $0.08 million more than the initial bid.

If the debtor receives any qualified bids then it would hold an auction for its assets on August 12, 2022. At the auction, the subsequent bids would be in increments of $0.05 million. The sale hearing is scheduled for September 2, 2022.