Silver Phoenix Resources (TSE:ATL) has released an update.
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Atlas Global Brands Inc., a Canadian-Israeli cannabis company, is facing a legal challenge as Stoke Canada Finance Corp. has filed an application for a receivership order over GreenSeal Cannabis Company Ltd.’s assets, a subsidiary of Atlas Global. Additionally, a judgment is sought against Atlas Global for an unsecured guarantee related to a receivables purchase agreement. Amidst these developments, Atlas Global is actively reviewing strategic alternatives due to financial pressures, including tax arrears demanded by the Canada Revenue Agency.
For further insights into TSE:ATL stock, check out TipRanks’ Stock Analysis page.
