VANCOUVER, BC, Nov. 28,
2024 /CNW/ - good natured Products Inc. (the
"Company" or "good natured®") (TSXV: GDNP.H)
(OTC Pink: GDNPF), a North American leader in eco-friendly food
packaging, bio-based plastic extrusion and plant-based products,
announces that on November 20, 2024,
it applied to the British Columbia Securities Commission, the
Company's principal regulator, for an order to cease to be
reporting issuer (the "Order") in Alberta, British
Columbia, Manitoba,
New Brunswick, Newfoundland and Labrador, Nova
Scotia, Ontario,
Prince Edward Island and
Saskatchewan (collectively, the
"Jurisdictions"). On November 27,
2024, the Company was granted the Order. As a result of the
Order, the Company has ceased to be a reporting issuer in the
Jurisdictions and has been relieved of further continuous
disclosure obligations under applicable Canadian securities
laws.
The Company has made this application following the completion
of the previously disclosed sales transaction (the
"Transaction") pursuant to which HUK 149 Limited, a private
United Kingdom limited company, an
affiliate of UK based turnaround investor Hilco Capital, acquired
the Company and its subsidiaries, other than certain excluded
assets and liabilities which were transferred directly or
indirectly to 1508538 B.C. Ltd.,
pursuant to a reverse vesting order granted under the Companies'
Creditors Arrangement Act by the Supreme Court of British Columbia. Following the closing of the
Transaction, all common shares of the Company were delisted from
the NEX Board of the TSX Venture Exchange at the close of business
on November 25, 2024.
About good natured Products Inc.
good natured® is at the forefront of North America's shift toward sustainability,
showcasing over 90 plant-based packaging designs and an extensive
portfolio of more than 400 products and services. These offerings
are purposefully designed to reduce environmental impact by using
more renewable materials, less fossil fuel, and eliminating
chemicals of concern.
Manufactured locally in the US and Canada, good natured® engineers and
distributes a diverse range of bio-based products across various
sectors, including grocery, restaurant, electronics, automotive,
and pharmaceutical via both wholesale and direct channels.
The Company is dedicated to providing an industry-leading
customer experience in order to encourage the transition to
renewable alternatives. By making it easy and affordable for
businesses to adopt bio-based products and packaging, good
natured® aims to empower them to reach their sustainability
objectives.
For more information: goodnaturedproducts.com
For further information regarding the CCAA proceedings, please
contact Alvarez & Marsal Canada Inc., the Court-appointed
Monitor of the Company and its subsidiaries by fax at 604-638-7441,
or by email at goodnatured@alvarezandmarsal.com. Its website
address is https://www.alvarezandmarsal.com/goodnatured.
Neither the NEX Board of the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the NEX Board of the TSX Venture Exchange) accepts
responsibilities for the adequacy or accuracy of this
release.
SOURCE good natured Products Inc.