Mr. Jean-Francois Labbe reports
SECOND AMENDED AND RESTATED INITIAL ORDER AND SISP ORDER UNDER THE CCAA
The Superior Court of Quebec (commercial division) has issued a second amended and restated initial order and a sales and investment solicitation process order with respect to Ecolomondo Corp.
and its wholly owned subsidiaries Ecolomondo Environmental (Hawkesbury) Inc., Ecolomondo Environmental (Contrecoeur) Inc., 9083-5018 Quebec Inc. and Ecolomondo Advanced Carbon Technologies Inc.
under the
Companies' Creditors Arrangement Act.
The second ARIO namely provides:
- An extension of the stay of proceedings in favour of the company and its subsidiaries until Aug. 21, 2026, ensuring
the stability required to allow KPMG Inc., in consultation with Export Development Canada, to reduce the operations of the company and its subsidiaries and stabilize their activities;
- An increase of interim financing pursuant to an amended and restated debtor-in-possession facility; and
- The approval of a key employee retention program
and a superpriority charge guaranteeing the payment obligations relating thereto.
The SISP order namely provides:
- A two-phase bidding process aimed at identifying sale and/or investment proposals in regard to the business of the company and its subsidiaries; and
- A requirement for any present or past shareholders, directors, officers, employees or any person related to the company or its subsidiaries, which intends to act as a related bidder to provide a notice of such intention by July 2, 2026, at noon Eastern Time.
A copy of the second ARIO and the SISP order, along with additional information in respect of the CCAA proceedings, will be available shortly on the monitor's website. Readers are encouraged to consult the full text of the documents for further details. Further news releases will be provided during the CCAA proceedings as required by law and applicable securities regulations or as determined necessary by the company or the court.
About Ecolomondo Corp.
Ecolomondo, headquartered in Quebec, is a Canadian cleantech company focused on its proprietary thermal decomposition process technology, which recovers high-value commodities from scrap tire waste, including recovered carbon black, tire-derived oil, syngas, fibre and steel.
We seek Safe Harbor.
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