Hi, another news release this morning...so JE are getting more times to get back on the right track. It is not the best news of the year but at least they are staying in business. JMHO...Gaillard
TORONTO, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Just Energy Group Inc. (“Just Energy” or the “Company”) (TSXV:JE; OTC:JENGQ), a retail energy provider specializing in electricity and natural gas commodities and bringing energy efficient solutions, carbon offsets and renewable energy options to customers, announced today that the Ontario Superior Court of Justice (Commercial List) (the “Court”) has, among other things, approved (i) the extension of the stay period under the Companies’ Creditors Arrangement Act (Canada) (“CCAA”) to February 17, 2022 (the “Stay Extension”); and (ii) an amendment to the CCAA Interim Debtor-In-Possession (“DIP”) Financing Term Sheet (the “DIP Facility”) between the Company and the DIP lenders to, among other things, extend the maturity of the DIP Facility to September 30, 2022.
The Stay Extension and DIP maturity extension allow the Company to continue to operate in the ordinary course of business while pursuing a restructuring plan with its stakeholders.
In addition, further to the Company’s announcement on November 1, 2021, the Court approved Just Energy entering into a support agreement with an affiliate of Generac Holdings Inc. (“Generac”) to vote in favour of the acquisition of Just Energy’s shares of ecobee Inc. by Generac.