TORONTO, Jan. 23,
2023 /CNW/ - Inscape Corporation ("Inscape" or the
"Company") (TSX: INQ) announces that following a delisting
review by the Toronto Stock Exchange ("TSX"), the Company's
class B subordinated voting shares (the "SVS Shares") will
be delisted effective close of market on February 21, 2023.
Trading of the SVS Shares has been suspended since January 12, 2023 as a result of the Company
filing for protection under the Companies' Creditors Arrangement
Act ("CCAA") and this suspension will continue until the
delisting takes effect.
Shareholders retain their legal rights and equity interest and
are advised to contact their brokerage where SVS Shares are held
regarding retention policies for unlisted shareholdings and
potential for SVS Shares to trade in over-the-counter markets.
Additional Information
Information regarding the CCAA proceedings, including a copy of
the initial order and other court filed materials, are available on
the website of Alvarez & Marsal Canada Inc. (the
"Monitor")
at https://www.alvarezandmarsal.com/InscapeCorporation#contact.
For additional information, you may contact the Monitor via email:
InscapeCorporation@alvarezandmarsal.com or telephone:
1-416-847-2715.
About Inscape
Since 1888, Inscape has been designing products and services
that are focused on the future, so businesses can adapt and evolve
without investing in their workspaces all over again. Our versatile
portfolio includes systems furniture, storage, and walls – all of
which are adaptable and built to last. Inscape's wide dealer
network, showrooms in the United
States and Canada, along
with full service and support for all our clients, enable us to
stand out from the crowd. We make it simple. We make it smart. We
make our clients wonder why they didn't choose us sooner.
Cautionary Statements Respecting
Forward Looking Statements and the Offer
This new release contains "forward-looking statements" within
the meaning of such statements under the applicable securities law.
Forward-looking statements are frequently characterized by words
such as "plan", "continue", "except", "project", "intend",
"believe", "anticipate", "estimate", "may", "will", "potential",
"proposed" and other similar words, or statements that certain
events or conditions "may" or "will" occur. These statements are
only predictions. Forward-looking statements in this release
include statements regarding Inscape Group's proceedings under the
CCAA; the Company's intention to effect a liquidation of the
Company's assets; and the delisting of the SVS Shares from the TSX.
Various assumptions were used in drawing the conclusions or making
the projections contained in the forward-looking statements
throughout this news release, including assumptions based on the
Company's publicly disclosed information, and the Company's current
financial condition. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking
statements. The Company is under no obligation, and expressly
disclaims any intention or obligation, to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise except as expressly required by
applicable law.
For more information, visit myinscape.com.
SOURCE INSCAPE Corporation