Canada’s leading producer of cannabis edibles is restructuring its business under the bankruptcy protection laws as it seeks to sell assets to repay creditors.
Indiva and its subsidiaries under Indiva Group have been granted relief by the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act to restructure their business and finances, according to a news release.
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The credit protection order from the court includes:
A stay of proceedings. Approval of debtor-in-possession financing. Appointment of PricewaterhouseCoopers as monitor. Relief from certain reporting obligations under securities laws and stock exchange rules.
The stay and financing is aimed at providing Indiva with more time to consider potential restructuring transactions and maximize the value of its assets for the benefit of
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