Darford International Inc. Announces Receivership
TSX Venture Exchange: "WUF.V"
VERNON, BC, Oct. 24, 2012 /CNW/ - Pursuant to an order of the British Columbia Supreme Court, dated October 24th 2012, The Bowra Group Inc. was appointed as Receiver and Manager of all assets, undertakings and properties of Darford International Inc, Darford USA Inc, Darford Industries Ltd, and Darford USA Holding Co. (Collectively the "Debtors").
Subject to Court approval, the Receiver expects to initiate a sale process in the near term to market and sell the Company's assets on a going-concern basis.
The stability and certainty of a Court-supervised receivership is expected to be provide a mechanism to address the Company's short term liquidity requirements and ensure fair and equitable treatment of the Company's stakeholders.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Darford International Inc.For further information:
Darford International Inc.
250.545.4430 ext 204