ShinyBud Corp (TSE:SNYB) has released an update.
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Shiny Bud Inc., a subsidiary of Shiny Health & Wellness Corp., has initiated a restructuring process under Canada’s Bankruptcy and Insolvency Act by filing a Notice of Intention to Make a Proposal. The move aims to protect the Shiny Bud brand and facilitate an orderly search for potential investors or buyers for the company’s assets, while continuing business operations with the help of a debtor-in-posession loan, pending court approval. Shiny Bud Inc. reassures that its stores will remain open and the filing does not mean the company is bankrupt.
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