Heritage Cannabis Holdings (TSE:CANN) has released an update.
Heritage Cannabis Holdings has initiated a sale and investment solicitation process for its business and assets, conducted under the supervision of KPMG Inc., as part of its restructuring efforts under the Companies’ Creditors Arrangement Act. Interested parties are invited to participate and submit proposals by May 10, 2024, with the opportunity to access a detailed process summary and a virtual data-room upon signing a non-disclosure agreement. This process follows the company’s receipt of court protection and the approval of a baseline bid by a stalking horse bidder to facilitate the sale or investment.
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