Suzy's, Inc. entered into an asset purchase agreement to acquire Assets of Le Château Inc. (TSXV:CTU.H) on June 18, 2021. Le Château received authorization from the QuébecSuperior Court (Commercial Division) (the "Court"), on June 22, 2021, to complete the sale of all of their intellectual property as well as certain other assets to Suzy's Inc. Following completion of the Transaction, all of the directors and executive officers of Le Château and Château Stores Inc. have resigned effective upon closing. The net proceeds from the Transaction are being reported upon by the Court-appointed monitor, PricewaterhouseCoopers LLP (the Monitor), and will be utilized or released pursuant to current orders of the Court and such further orders of the Court as may be granted from time to time.
Suzy's, Inc. completed the acquisition of Assets of Le Château Inc. (TSXV:CTU.H) on June 25, 2021.