SUDBURY Facing massive long-term debts and lower revenue as a result of COVID-19, Laurentian University has filed for court protection from creditors. It s the first time in recent memory that a university has done the equivalent of filing for bankruptcy because their debts far exceed their assets and revenue. In a news release Monday, Laurentian University President Robert Haché said despite being insolvent, the court filing would not affect day-to-day operations and students won’t be affected. All decisions that are made will continue to be made in the ordinary course, and will be done in the best interests of those who rely on us to provide a top-quality education, Haché said.
In a press release last week, Pyxus announced it was divesting its Canadian cannabis subsidiaries to focus on its more profitable tobacco and e-liquid businesses.
“Our strategic decision to exit cash flow-negative cannabinoid operations will allow us to reduce corporate SG&A (selling, general and administrative expense) and sharpen our focus on growing our more profitable tobacco and e-liquid businesses such that these complementary businesses can fully leverage Pyxus’ 145-year heritage and existing relationships,” said Pieter Sikkel, president and CEO of Pyxus International.
“We maintain our belief that there is value in FIGR and its growth can be accelerated with the right capital structure and partner,” Sikkel added.
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Company to Host Call Today at 5:30 P.M. (ET)
MORRISVILLE, N.C., Jan. 21, 2021 /PRNewswire/ Pyxus International, Inc. ( Pyxus or the Company ) (OTC Pink: PYYX), a global value-added agricultural company, announced today, after a strategic review by the Boards of Directors of Pyxus and certain subsidiaries, that it intends to divest its cannabis business in order to focus on its more profitable tobacco and e-liquid businesses. In addition, the Company has taken action to restructure its industrial hemp and CBD operations to minimize financial investment in that business. Our strategic decision to exit cash flow negative cannabinoid operations will allow us to reduce corporate SG&A and sharpen our focus on growing our more profitable tobacco and e-liquid businesses such that these complementary businesses can fully leverage Pyxus 145-year heritage and existing relationships, said Pieter Sikkel, President and CEO of Pyxus International. We maintain our belief that there is v
CannTrust Announces Restructuring Support Agreement with Key Class Action Plaintiffs and their Counsel
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Parties agreed to settle litigation by way of CCAA Plan of Arrangement
VAUGHAN, ON, Jan. 20, 2021 /PRNewswire/ - CannTrust Holdings Inc. ( CannTrust or the Company ) (unlisted) announced today that it has entered into a Restructuring Support Agreement ( RSA ) with plaintiffs who have commenced litigation in Canada and the United States (the Securities Claims ) asserting claims against CannTrust and others on behalf of a global class of CannTrust shareholders (together, the Securities Claimants ) and their legal counsel. The RSA provides a comprehensive framework for settling the Securities Claims under a Court-approved plan of compromise, arrangement and reorganization ( Plan of Arrangement ) pursuant to the