Announcement of Commencement of Court-Approved Sale and Investment Solicitation Process In Respect of Solution Highpoint Inc.

MONTREAL, Aug. 23, 2022 /CNW Telbec/ - On August 8, 2022, at the request of the National Bank of Canada (the "Applicant"), the Superior Court of Québec (Commercial Division) (the "Court") issued an order (the "Receivership Order") appointing Raymond Chabot Inc. (the "Receiver") as receiver to the assets of Solution Highpoint Inc. (the "Debtor") pursuant to Section 243 of the Bankruptcy and Insolvency Act, and authorizing the Receiver to conduct a sale and investment solicitation process (the "SISP") in respect of the Debtor's business and assets, in consultation with the Applicant.

The SISP is intended to be conducted in accordance with the SISP Rules with a view to solicit bids (each, a "Bid") in connection with transactions (each, a "Potential Transaction") for a sale of all, substantially all or certain portions of the Debtor's assets or business (as a going concern or not) or for a reorganization of the Debtor or its business, in the form of an investment, restructuring, reverse vesting transaction, recapitalization or refinancing. All potentially interested parties will be provided with an opportunity to participate in the SISP as well as an access to a virtual data room containing confidential information and documents relating to the Debtor and its assets, upon the execution of a non-disclosure agreement acceptable to the Receiver as well as the execution of a copy of the SISP Rules in order to confirm such party's acceptance and commitment to comply with the SISP Rules.

Pursuant to the SISP Rules, all interested parties having executed a non-disclosure agreement acceptable to the Receiver as well as a copy of the SISP Rules and who wish to submit a bid must deliver to the Receiver, by no later than 4:00 p.m. (Eastern Time) on September 12, 2022 (the "Binding Bid Deadline"), a binding bid which conforms with the requirements set forth in the SISP Rules (each a "Qualified Bid"). The Receiver shall review each Qualified Bid in consultation with the Applicant. Should more than a Qualified Bid be received by the Receiver, the Receiver may proceed with an auction as contemplated in the SISP Rules with a view to designate a bid which will subsequently be submitted to the Court for approval (the "Successful Bid").

Copies of the Receivership Order, the SISP Rules and all related materials may be obtained from the website of the Receiver at https://archive.raymondchabot.com/fr/assets/solutions-highpoint.

Those interested in participating in the SISP should contact the Receiver by email at the following addresses to receive additional information: [email protected] and [email protected].

SOURCE Raymond Chabot Inc.

Renseignements : pour tout demande média, veuillez communiquer avec Marine Detraz, conseillère en communication et affaires publiques, par courriel à [email protected] ou au téléphone au 514 705-8096