MPX International Announces Commencement of Court-Approved Sales and Investment Solicitation Process
Toronto, ON – TheNewswire – August 4, 2022 – MPX International Corporation (the “Company” or “MPXI”) (CSE: MPXI); (CNSX:MPXI.CN); (OTC:MPXOF) – As previously indicated, on July 25, 2022, the Company and certain of its Canadian subsidiaries (collectively, the “CCAA applicants”) have been granted protection from creditors under an order (as amended and restated, the “Initial order“) of the Ontario Superior Court of Justice (Commercial List) (the “To research“) under the Companies Creditors Arrangement Act (there “CCAA”). The Initial Order also extended certain protections to MPXI’s foreign subsidiaries (the “Non-applicant stay parties” and with the applicants under the CCAA, the “MPXI entities“) and appointed KSV Restructuring Inc. as monitor of the plaintiffs under the CCAA (as such, the “Monitor“).
Pursuant to an order made by the Court on August 4, 2022 (the “SISP accreditation order“), the MPXI Entities have initiated a sale and investment solicitation process (the “SISP“) to be carried out by the Controller, with the assistance of the MPXI Entities.
The SISP is intended to solicit interest and opportunities for sale or investment in all or substantially all of one or more components of the assets and/or business operations of the MPXI Entities. All qualified interested parties will have the opportunity to participate in the SISP, including receiving a memorandum of confidential information and access to a virtual data room upon signing a nondisclosure agreement acceptable to MPXI Entities and the Controller. Collectively, the MPXI entities have high-quality assets with ever-expanding partnership and distribution opportunities in a number of jurisdictions around the world. MPXI entities are focused on cultivation, manufacturing and marketing and are optimally positioned for global growth as regulatory environments in jurisdictions continue to evolve.
Qualified interested parties who wish to submit an offer in the SISP must submit a firm offer to the Monitor and the MPXI Entities in accordance with the SISP, no later than 5:00 p.m. (Eastern Time) on September 8, 2022.
Copies of the Initial Order, SISP Approval Order, SISP and all related documents may be obtained from the Monitor’s website at: https://www.ksvadvisory.com/experience/case/MPXI
Persons interested in participating in the SISP should contact the Monitor for additional information at:
Restructuring KSV Inc.
150 King Street West #2308
Toronto, Ontario M5H 1J9
Attention: Eli Brenner and Neil DeGray
MPXI is a diversified multinational cannabis company focused on developing and operating assets in the international cannabis industry, with an emphasis on the cultivation, manufacture and marketing of products containing cannabinoids as a primary active ingredient. With current operations spanning four continents in Canada, South Africa, Malta and Thailand as well as ever-expanding partnership and distribution opportunities in other jurisdictions, MPXI has positioned itself as an emerging global player in the cannabis industry.
NOT FOR DISTRIBUTION TO NEWS WIRE SERVICES IN THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS.