Silver Phoenix Resources (TSE:ATL) has released an update.
Atlas Global Brands Inc. has received an extension on their stay of proceedings to continue negotiations with creditors and is seeking court approval to restructure its financial affairs under the CCAA. Although some creditors are pushing for a receivership, the company remains hopeful that the CCAA protection will enable them to stabilize and possibly sell their assets for the benefit of all stakeholders. Atlas Global operates internationally in the cannabis industry, with distribution in seven countries and ownership of two licensed facilities in Ontario, Canada.
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