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The Alberta Energy Regulator's (AER) final phase of changes to the Licensee Liability Rating Program (the "LLR Program") came into effect on August 1, 2015.

In 2014, Veris Gold Corp. and its subsidiaries began experiencing financial difficulties due to, among other things, the declining price of gold. It also received notice from its major secured creditor, Deutsche Bank A.G., that it was in default under its security agreements.