Veji Announces Filing of BIA Commercial Proposal
Veji Announces Filing of BIA Commercial Proposal
VANCOUVER BC / ACCESSWIRE / December 21, 2022 / Veji Holdings Ltd.(CSE:VEJI)(OTCQB:VEJIF) (the "Company'' or "Veji") announces today that it has filed a Division I proposal (the "Proposal") pursuant to the Bankruptcy and Insolvency Act (Canada) (the "BIA") with G. Moroso & Associates Inc. assigned as proposal trustee (the "Proposal Trustee"), with the intent of settling its outstanding creditor liability.
温哥華BC/ACCESSWIRE/2022年12月21日/VEJI控股有限公司(CSE:VEJI)(場外交易代碼:VEJIF)(“公司‘’或“維吉“)今天宣佈,它已提交了一份第I分部的提案(”建議書“)根據《破產和破產法》(加拿大)(”BIA“),G.Moroso&Associates Inc.被指定為提案受託人(The”建議書託管人“),意在清償其尚未清償的債權人債務。
The Company and its Board of Directors (the "Board") chose to take this action under the BIA as the most expeditious and economical manner of addressing the interests of its creditors, further to its Strategic Review process announced by the Company on July 29, 2022.
本公司及其董事會(“董事會”)選擇根據BIA採取這一行動,作為解決債權人利益的最迅速和最經濟的方式,繼公司於2022年7月29日宣佈其戰略審查程序之後。
The Company's Proposal to its creditors, if approved would settle the Company's outstanding liabilities in exchange for the issuance of common shares of the Company, valued at no more than 100% of the Company's current market capitalization. The proposed Issuance would be subject to approval by the Canadian Securities Exchange ("CSE"). An approval of the Proposal, which requires a majority of the creditors with proven claims to vote in favor, of which must also represent at least two-thirds of the value of the proven claims voting, will result in creditors owning up to fifty percent of the Company. There is no guarantee that the Proposal will be approved by creditors, and if it is not approved, the result would be a deemed bankruptcy.
公司向債權人提出的建議如果獲得批准,將清償公司的未償債務,以換取發行公司普通股,價值不超過公司當前市值的100%。擬議的發行將有待加拿大證券交易所(“CSE”)的批准。該提案需要擁有已證明債權的債權人中的大多數投贊成票,而且必須至少代表已證明債權投票價值的三分之二。該提案的批准將導致債權人擁有該公司高達50%的股份。不能保證這項提議會得到債權人的批准,如果不能批准,結果將是被視為破產。
The Proposal provides a better recovery for affected creditors than in a bankruptcy scenario which would require a forced liquidation of the Company's assets, and the successful approval and implementation of the Proposal will enable the Company to survive without filing for bankruptcy. As the next steps in the Company's Strategic Review processes, it is the intention of management and the Board to pursue opportunities to complete a transaction, which may include may include completing a Reverse Takeover ("RTO"), or other potential business acquisitions. There can be no guarantees or assurances that a transaction will take place.
該建議為受影響的債權人提供了比破產情況下更好的恢復,後者需要強制清算公司的資產,成功批准和實施該建議將使公司能夠在不申請破產的情況下生存下來。作為本公司戰略審查程序的下一步,管理層和董事會的意圖是尋求機會完成交易,其中可能包括完成反向收購(“RTO”)或其他潛在的業務收購。不能保證或保證交易將會發生。
A meeting of the Company's creditors is scheduled to take place on January 5th, 2023, virtually. In the event that the Proposal receives the requisite support at the creditors' meeting, the Company will file an application to the British Columbia Supreme Court to seek court approval of the Proposal.
公司債權人會議定於2023年1月5日召開。如果該提案在債權人會議上獲得必要的支持,本公司將向不列顛哥倫比亞省最高法院提出申請,尋求法院批准該提案。
Board Update
主板更新
As of the time of this release, the Board is currently composed of four members. There have not been any resignations on the Board in connection with the filing of the Notice of Intention; however, there are no assurances that the Board, as currently in place, will remain as such pending the outcome of the foregoing.
截至本新聞稿發佈時,董事會目前由四名成員組成。董事會中沒有任何成員因提交意向通知而辭職;但是,不能保證董事會在上述結果出來之前,仍將保持目前的地位。
About Veji Holdings Ltd.
關於VEJI控股有限公司
The Company is a reporting issuer in Canada and is listed on the Canadian Securities Exchange under the symbol "VEJI" and on the OTC under the symbol "VEJIF".
該公司是加拿大的申報發行人,在加拿大證券交易所上市,代碼為“VEJI”,在場外交易市場上市,代碼為“VEJIF”。
For more information please visit VejiHoldings.com
欲瞭解更多信息,請訪問VejiHoldings.com
ON BEHALF OF THE BOARD OF DIRECTORS:
我謹代表董事會:
Kory Zelickson
Director and CEO
科裏·澤利克森
董事和首席執行官
For investor inquiries or further information, contact: ir@vejiholdings.com
如需投資者諮詢或進一步信息,請聯繫:ir@vejiholdings.com。
No securities regulatory authority has either approved or disapproved of the contents of this news release.
沒有證券監管機構批准或不批准本新聞稿的內容。
THE CANADIAN SECURITIES EXCHANGE (THE "CSE") HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE CSE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
加拿大證券交易所(The Canada Securities Exchange)“CSE”)既沒有批准也沒有反對本新聞稿的內容。CSE及其市場監管機構(該術語在CSE的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
有關前瞻性信息的警告注意事項:
This release includes forward-looking information and forward-looking statements within the meaning of Canadian securities laws regarding VEJI and its business, including, without limitation, statements regarding VEJI's ability to receive approval and complete the implementation of the BIA Proposal, bankruptcy, or complete a restructuring, as well as statements relating to the Board. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of VEJI and are based on assumptions and subject to risks and uncertainties. Although the management of VEJI believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of the risk factors identified in VEJI's most recently filed management's discussion and analysis and in other publicly filed documents under VEJI's profile on SEDAR at , as well as other unknown risks. Although VEJI has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and VEJI does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
本新聞稿包括符合加拿大證券法的有關VEJI及其業務的前瞻性信息和前瞻性陳述,包括但不限於有關VEJI獲得批准並完成BIA提議、破產或完成重組的能力的陳述,以及與董事會有關的陳述。前瞻性信息常常但不總是可以通過使用諸如“計劃”、“預期”、“預期”、“打算”、“考慮”、“預期”、“相信”、“提議”或這些詞語和短語的變體(包括消極變體)來確定,或者説明某些行動、事件或結果“可能”、“可能”、“將”、“可能”或“將”被採取、發生或實現。此類陳述基於VEJI管理層目前的預期,基於假設,受到風險和不確定因素的影響。儘管VEJI的管理層認為這些陳述背後的假設是合理的,但它們可能被證明是不正確的。本新聞稿中討論的前瞻性事件和情況可能不會在某些特定日期之前發生或根本不會發生,可能會因為VEJI最近提交的管理層討論和分析以及VEJI關於SEDAR的其他公開提交文件中確定的風險因素以及其他未知風險而存在實質性差異。儘管VEJI試圖確定可能導致實際行動、事件或結果與前瞻性陳述中描述的大不相同的重要因素,但可能存在其他因素導致行動、事件或結果與預期、估計或預期的不同。相應地,, 讀者不應過分依賴任何前瞻性陳述或信息。任何前瞻性陳述都不能得到保證。除適用的證券法要求外,前瞻性表述僅在作出之日起發表,VEJI不承擔任何公開更新或修改任何前瞻性表述的義務,無論是由於新信息、未來事件或其他原因。
SOURCE: Veji Holdings Ltd.
資料來源:VEJI控股有限公司