Distinct Infrastructure Group Inc. has Been Placed Into Receivership
11 Marzo 2019 - 10:20PM
PR Newswire (Canada)
TSXV: DUG
TORONTO, March 11, 2019 /CNW/ - Distinct Infrastructure
Group Inc. ("Distinct" or the "Company") announced that the Ontario
Superior Court of Justice (Commercial List) has issued an order
placing the Company (and several of its wholly owned subsidiaries)
into receivership with the cooperation of the Special Committee.
Deloitte Restructuring Inc. is acting as receiver and manager. The
company's independent directors have resigned. At this time, the
secured bank lender is expected to suffer losses on its debt
position. The subordinated lender and shareholders are not
expected to see any recovery. Material filed in connection with the
receivership will be posted to the receiver's website at
www.insolvencies.deloitte.ca/en-ca/dig.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward Looking Statements
This news release contains "forward-looking statements" within
the meaning of applicable securities legislation. Distinct is
subject to significant risks and uncertainties which may cause the
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward looking statements contained in
this release. Distinct cannot assure investors that actual results
will be consistent with these forward looking statements.
SOURCE Distinct Infrastructure Group Inc.
Copyright 2019 Canada NewsWire
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