Fortem Resources Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on June 10, 2022. The debtor seeks the Court's approval for the sale of substantially all its assets to successful bidder, pursuant to the asset purchase agreement. To qualify as a qualified bidder, interested parties should submit their bids by August 5, 2022, along with good-faith deposit in the amount of 10% of the bid price.

The initial minimum overbid should be at least $0.08 million more than the initial bid price. The debtor has scheduled an auction 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.