Sale of Canada Fluorspar Inc. media notice

SAINT LAWRENCE, NF, April 11, 2022 /CNW/ - The Supreme Court of Newfoundland and Labrador (the "Court") granted an initial order (the "Initial Order") pursuant to the Companies Creditors Arrangement Act (the "CCAA") over Canada Fluorspar (NL) Inc. (CFI), Canada Fluorspar Inc., and Newspar (a General Partnership) (together, the "Companies") on March 11, 2022. Grant Thornton Limited was appointed monitor of the Companies (the "Monitor").

On March 18, 2022, the Initial Order was amended and restated by the Court. Furthermore, at said hearing, the Court granted an order (the "Bidding Procedures Order"), authorizing the Companies to undertake a sale and investment solicitation process ("SISP") for the sale of CFI's business, property, assets and undertakings (collectively, the "Business").

Grant Thornton Limited, in its capacity as Monitor, is hereby soliciting offers for CFI's Business. Information regarding the SISP can be obtained by visiting the Monitor's website: www.GrantThornton.ca/CFI or by contacting Jason Kanji of the Monitor's office at (416) 777-6136 or [email protected].

Please note that the non-binding Letter of Intent is due no later than at 5:00 PM Newfoundland Standard Time on April 17, 2022.

Grant Thornton Limited, Licensed Insolvency Trustees, is one of the largest bankruptcy, insolvency, and restructuring service firms in Canada. The debt professionals at Grant Thornton are passionate about making a difference for their clients, colleagues, and communities. Grant Thornton Limited is a Canadian member of Grant Thornton International Ltd. We have offices conveniently located across Canada, and offer a full range of debt help services for the audit, tax and advisory firm, Grant Thornton LLP.  

Grant Thornton LLP is a leading Canadian accounting and advisory firm providing accounting, audit, tax and advisory services to private and public organizations. We help dynamic organizations unlock their potential for growth by providing meaningful, actionable advice through a broad range of services. Grant Thornton LLP is a Canadian member of Grant Thornton International Ltd, whose member and correspondent firms operate in over 130 countries worldwide. A listing of Grant Thornton offices and contact information can be found at: www.GrantThornton.ca.

SOURCE Grant Thornton LLP