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
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