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Pluribus Technologies Corp. (TSXV:PLRB) obtained CCAA protection on December 17, 2024, after defaulting on its National Bank credit agreement. A strategic review led by Canaccord Genuity Corp. resulted in two asset sales, repaying over $12 million, but $10.3 million and US$0.9 million remained due when forbearance ended on November 29, 2024. Facing a liquidity crisis, Pluribus sought CCAA to restructure and implement a Sale and Investment Solicitation Process (SISP). Evergreen Gap Debt GP is providing a DIP loan, with B. Riley Farber as monitor. Legal counsel includes Miller Thomson (companies), Aird & Berlis (monitor), Cassels (DIP lender), TGF (National Bank), and Chaitons (directors).
Parties
Company
Pluribus Technologies Corp.
Company
B. Riley Farber
Company
DIP lender
Bank
National Bank of Canada
Company
Directors
Deal Type
OtherIndustry
Tech/Computer/ITTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date