If agreed upon, it is intended that the purchase offers will be part of the Corporation's proposal and will be subject to a vote at a meeting of its creditors to be held at a date to be determined. The Corporation has retained the firm of Demers Beaulne to act as trustee in bankruptcy.
In the meantime, the Corporation will benefit from a complete stay with regards to debt payments and to any possible creditor's proceedings.
In order to be accepted, the Corporation's proposal will need to be approved by creditors representing the majority in number and at least 66.66% in value of the Corporation's debt.
Forward-looking Statements
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of Mistral Pharma. These statements are based on assumptions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for Mistral Pharma's products, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release. Contact: Contacts: Mistral Pharma Inc. Bertrand F. Bolduc, B.Pharm., MBA President and Chief Executive Officer 514-421-1717 #2224 bbolduc@mistralpharma.com
Mistral Pharma Inc. Alain Provencher, CA, CF Vice-President and Chief Financial Officer 514-421-1717 #2222 aprovencher@mistralpharma.com
Source: Mistral Pharma Inc.