Business
James E. Wagner Announces Court Approval of Sale of Assets
James E. Wagner Announces Court Approval of Sale of Assets.
About this update from James E Wagner Cultivation Corp
[{"type":"text","content":"\n\n\n\nJames E. Wagner Announces Court Approval of Sale of Assets\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nJames E. Wagner Announces Court Approval of Sale of Assets\nCanada NewsWire\nKITCHENER, ON, June 2, 2020\n\n\n\nKITCHENER, ON, June 2, 2020 /CNW/ - James E. Wagner Cultivation Corporation (the \"Corporation\") (NEX: JWCA.H; OTCQX: JWCAF) is pleased to announce that, in connection with its creditor protection proceedings under the Companies' Creditors Arrangement Act (the \"CCAA\") and previously announced Sales and Investor Solicitation Process (the \"SISP\") that concluded on May 19, 2020 with Trichome Financial Corp. (\"Trichome Financial\") emerging as the \"Successful Bidder\", the Corporation and its subsidiaries (the \"JWC Group\") today received authorization from the Ontario Superior Court of Justice (Commercial List) (the \"Court\") to complete the sale of substantially all of the JWC Group's assets, as contemplated by the SISP, to an affiliate of Trichome Financial (the \"Transaction\"). The closing of the Transaction is currently set to occur on or before June 30, 2020, provided that all remaining conditions are satisfied. \nFurther details of the SISP and the asset purchase agreement are available under the Corporation's profile on the System for Electronic Document Analysis and Retrieval (www.sedar.ca) and are also available, along with additional information respecting the CCAA proceedings, on the  website of KSV Kofman Inc., the Court-appointed CCAA monitor (the \"Monitor\")  (https://www.ksvadvisory.com/insolvency-cases/case/james-e-wagner-cultivation-corporation).  Readers are urged to consult the full text of all documents available on SEDAR and the Monitor's website for further, more detailed, information. Readers are cautioned that there are a number of factors outside of the control of the JWC Group that may delay or impact the closing of the Transaction and, as a result and notwithstanding the approval of the Court, the Transaction may not close on the timeline or in the manner expected by the JWC Group or at al...