Indiva (TSE:NDVA) has released an update.
Indiva Limited has entered creditor protection to restructure its financials, obtaining court approval for a stay of proceedings and debtor-in-possession financing. The company faces financial challenges due to the fragmented cannabis market and is now exploring potential sales of its assets, including a court-supervised process with a potential initial bid from significant creditor SNDL Inc. Operations will continue during the restructuring, with the aim of emerging with a stronger balance sheet.
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