The Very Good Food Company Announces The Receivership Order, Suspension Of Trading And Board Member Resignation

Author: Benzinga Newsdesk | January 17, 2023 04:09pm

The Very Good Food Company Inc. (NASDAQ:VGFC) (TSXV:VERY) (FSE: OSI) ("VERY GOOD" or the "Company") announces that, on January 16, 2023, the Company was placed into receivership pursuant to an Order of the Supreme Court of British Columbia. BDO Canada Limited (the "Receiver") was appointed as the Receiver and will shortly be commencing a sales process to solicit bids for the assets or a restructuring of the Company. During the receivership, the Company will continue to operate and a buyer will be sought for the Company on a going concern basis.

In connection with the appointment of a receiver, the TSX Venture Exchange (the "TSXV") will suspend trading in the Company's securities. The TSXV will proceed to delist the Company for Failure to Maintain Exchange Requirements. Further, the Company requested that the (NASDAQ:VGFC) be halted.

Posted In: TSXV:VERY VGFC