AgMedica Bioscience Inc. - Notice of Sale and Investment Solicitation Process ( "SISP")
CHATHAM, ON, Jan. 17, 2020 /CNW/ - On December 2, 2019, AgMedica Bioscience Inc. and certain of its subsidiaries (collectively, "AgMedica") were granted protection pursuant to an order, as amended, (the "Initial Order") issued under the Companies' Creditors Arrangement Act by the Ontario Superior Court of Justice (the "Court"). Ernst & Young Inc. ("EY") was appointed Monitor. On January 3, 2020, the Court authorized and directed AgMedica to undertake a sale and investment solicitation process (the "SISP").
AgMedica is a vertically integrated licensed producer of cannabis in accordance with the Cannabis Act and the Cannabis Regulations that is licensed to cultivate, produce, distribute, and sell dried cannabis flower, pre-rolled cannabis, cannabis soft gel capsules, cannabis oil, extracts, edibles and topicals. AgMedica currently supplies the Canadian and Australian markets, and has forged strategic partnerships with various organizations around the globe to support its vision for the future growth of the cannabis industry.
All qualified interested parties will be provided with an opportunity to participate in the SISP. The SISP is intended to solicit interest in a restructuring and/or refinancing of AgMedica's business, or a sale of the assets and/or the business of AgMedica on a going concern basis, which may include, among other things, a merger, reorganization, recapitalization, primary equity issuance or other similar transaction (the "Transaction").
The SISP Process is a two-phased process with the Phase 1 Bid Deadline set for March 20, 2020.
Copies of the SISP Order, and the SISP Process may be obtained from the website of Ernst & Young Inc., at www.ey.com/ca/agmedica.
SOURCE AgMedica Bioscience Inc.
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