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Teal Valley T.TV


Primary Symbol: P.TEAL

Teal is a Canadian, pharmaceutical & NHP manufacturer selling to Canada’s national, chain drug stores, presently expanding its portfolio to include cannabinoid-based products utilizing proprietary formulations & extractions for both the global Rx & recreational markets.


P.TEAL - Post by User

Post by ontlegalforms1on Aug 01, 2023 9:39pm
538 Views
Post# 35568073

Question

Question Most of the court stuff posted on the monitor's website is confidential or redacted. Most importantly, the details with respect to the SPA. Court records should be public by default, but the details as to this purchase here by Appian is entirely not disclosed. All we know is that Appian has taken over this mine, which is an asset that has considerable value. Moreover, production is to increase at this mine. 

The whole court process has been about addressing the creditors, and making arrangements as to how the various debts will be addressed. 

At the end of all of this, and this looks to be (max) October of this year? this mine will resume. 

However, the elephant in the room is the shareholders. How do you get back into operation without resolving this issue? According to the law, if there is a material change here, shareholders would need to vote. I'm not sure how you take a company private without a shareholder vote. This whole reorg has purposely clouded this very central issue. So does that mean the shares will stay as they were prior to the court process? 

If that's the case, the KND litigation on behalf of shareholders could be set aside. Otherwise, if the shareholders have 'lost' their shares, an action on behalf of the shareholders might make sense. 

The whole Appian SPA has been purposely clouded in secrecy and it's very difficult to guess as to what will happen to the pre reorg float of 98 million trevali shares. 

On the one hand it would look to be negligent on the Court process to be this late in the game and get to close to the end and totally fail to address the shareholders. Pre court process this was a public company. You can't just convert a public company into a private one like this, through the use of bankruptcy or CCAA provisions. Otherwise, everyone would do so. 

On the other hand, it's clear to see that Appian will have some sort of stake in this company post reorg. 

The question is when will we find out as to the details and nature of this "share purchase agreement".



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