CatalX CTS Ltd. Announces Appointment of Deloitte as Receiver-Manager of the Company and Provides Update on Cease Trade Order

CALGARY, AB, Jan. 24, 2024 /CNW/ - CatalX CTS Ltd. (the "Company"), the operator of a Canadian crypto trading platform at https://catalyx.io/ (the "Platform"), announces that on January 19^th, 2024 the Company successfully brought an application at the Court of King's Bench of Alberta to appoint Deloitte Restructuring Inc. (the "Receiver") as receiver-manager of the Company and its service provider CatalX Management Ltd.

Due to the exit from the industry by a key liquidity and service provider, the Company has made the decision to cease the operation of the Platform and wind-up its business. The Receiver is undertaking an orderly wind-down of the Company which will include it running a claims process.

As an update to the Company's press release dated December 28^th, 2023, the Company advises that on January 5^th, 2024 the Company consented to a 12 month extension of the interim cease trade order previously implemented by the Alberta Securities Commission. A copy of this extension order is available here.

The Company's previously announced forensic investigation being undertaken by Deloitte LLP on behalf of the Company remains ongoing through the Receiver. Withdrawals from the Platform and trading activities will remain suspended. Customers and creditors of the Company can visit the website of the Receiver at this link for more information.

For further information please contact the Receiver.

SOURCE CatalX CTS Ltd.