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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Prosys Tech (Tier2) | TSXV:POZ | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
The Subsidiary will continue to operate under the Bankruptcy and Insolvency Act protection. The Subsidiary is not bankrupt. Rights and remedies of creditors against the Subsidiary, including rights and remedies of unpaid suppliers, are stayed for an initial 30 day period. This stay period may be further extended with leave of the Court and in accordance with the Bankruptcy and Insolvency Act.
All alternatives are currently under study in order to obtain the maximum value for its assets for its sole shareholder, the Corporation. Moreover, the Subsidiary has negotiated and has made contractual arrangements with its main creditors in order to ensure that the abandonment of the white box assembly business takes place in the best interest of creditors and of the sole shareholder.
About Prosys
Prosys is a distributor of information technology products having offices in Montreal, Quebec and Ottawa. Prosys maintains its participation in CDMS Inc and Peak Positioning Inc.. Through CDMS, Prosys also offers a wide range of products, including a 24/7 multilingual technical service desk, network operations and monitoring, managed services, IT consulting and a host of value add hardware solutions. The Corporation currently holds 40% of Peak's issued shares and has an option to increase its participation in Peak to 50.1%. The investment in Peak is in the scope of the Corporation's steps to diversify the global offer of services to its current customers and to improve Prosys' positioning for the development of the SMB market. For more information regarding CDMS and Peak, please visit www.cdmsfirst.com and www.peakpositioning.com.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
Contacts: Prosys Tech Corporation Mr. Georges Hebert President and Chief Executive Officer 514-255-3454, extension 270
1 Year Prosys Tech (Tier2) Chart |
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