MPX International Announces Commencement of Court-Approved Sale and Investment

TORONTO - MPX International Corporation (the 'Corporation' or 'MPXI') (CSE: MPXI); (CNSX: MPXI.CN); (OTC: MPXOF) As previously disclosed, on July 25, 2022, the Corporation and certain of its Canadian subsidiaries were granted creditor protection pursuant to an order from the Ontario Superior Court of Justice under the Companies' Creditors Arrangement Act (the 'CCAA').

The Initial Order also extended certain protections to MPXI's foreign subsidiaries (the 'Non-Applicant Stay Parties' and together with the CCAA Applicants, the 'MPXI Entities') and appointed KSV Restructuring Inc. as monitor of the CCAA Applicants (in such capacity, the 'Monitor').

Pursuant to an order granted by the Court on August 4, 2022 (the 'SISP Approval Order'), the MPXI Entities have initiated a sale and investment solicitation process (the 'SISP') to be conducted by the Monitor, with the assistance of the MPXI Entities.

The SISP is intended to solicit interest in, and opportunities for, a sale of, or investment in, all or substantially all, or one or more components of the assets and/or the business operations of the MPXI Entities. All qualified interested parties will be provided with an opportunity to participate in the SISP, including receipt of a confidential information memorandum and access to a virtual data-room upon execution of a non-disclosure agreement acceptable to the MPXI Entities and the Monitor. Collectively, the MPXI Entities have high quality assets with evolving partnership and distribution opportunities in a number of jurisdictions around the world. The MPXI Entities are focused on cultivation, manufacturing, and marketing and are optimally positioned for global growth as the regulatory environments in jurisdictions continue to evolve.

Contact:

Email: [e-mail]

About MPXI

MPXI is a multinational diversified cannabis company focused on developing and operating assets across the international cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. With current operations spanning four continents in Canada, South Africa, Malta and Thailand as well as evolving partnership and distribution opportunities in other jurisdictions, MPXI has positioned itself as an emergent global participant in the cannabis industry.

(C) 2022 Electronic News Publishing, source ENP Newswire