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BioAmber Provides Update on Sales Process
Posted on Monday July 30, 2018
BioAmber (BIOAQ) is a renewable materials company. This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about BioAmber. BioAmber may use words such as "anticipate," "believe," "could," "continue," "estimate," "expect," "intend," "may," "should," "will," "would," "plan," "projected" or the negative of such words or other similar words or phrases to identify such forward-looking statements.
BioAmber Receives Favourable Court Ruling and Approval for DIP Financing
Posted on Monday June 18, 2018
MONTREAL , June 18, 2018 /CNW Telbec/ - BioAmber Inc. (BIOA) ("BioAmber") announced today that it has received formal Quebec court approval for debtor-in-possession (DIP) financing. A CAN$3 million DIP financing, provided by Maynbridge Capital, will be disbursed to BioAmber in two tranches: up to CAN$2 million can be disbursed through July 31 and an additional CAN$1 million can be disbursed after July 31 , assuming the receipt of an LOI.
Special Meeting of Stockholders Suspended and Update on Restructuration Process
Posted on Thursday June 07, 2018
MONTREAL , June 7, 2018 /CNW Telbec/ - BioAmber Inc. (BIOA) ("BioAmber" or the "Company") announced today that its Special Meeting of Stockholders which was held on May 18 th, 2018 and adjourned and initially rescheduled for June 8 th, 2018, has been suspended by the Superior Court of the Province of Quebec , Commercial Division pending further order from such Court as a result of a Court Order issued in Canada on May 24 th, 2018 (the "Court Order"). The decisions contained in the Court Order also include, among other matters, (i) that the proceedings commenced by BioAmber Sarnia Inc. and BioAmber Canada Inc. pursuant to the Bankruptcy and Insolvency Act ( Canada ) are continued under the terms of the Companies' Creditors Arrangement Act ( Canada ) (the "CCAA Proceedings"), (ii) that PricewaterhouseCoopers Inc. is appointed to act as monitor in connection with the CCAA Proceedings, and (iii) the approval of a sale and investor solicitation process that was filed with the Court in support of the motion presented on May 24 th, 2018.
BioAmber Announces Filing for Stay of Proceedings on Creditors
Posted on Friday May 04, 2018
MONTREAL , May 4, 2018 /CNW Telbec/ - BioAmber Inc. (BIOA) ("Bioamber" or the "company") announces today that it filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code and that its two Canadian subsidiaries, BioAmber Sarnia Inc. and BioAmber Canada Inc., filed a Notice of Intention (the "NOI") to make a proposal under the Bankruptcy and Insolvency Act ( Canada ), with a view to strengthening the company's financial health and solidifying its long-term business prospects. BioAmber believes filing these procedures is the best way to protect all stakeholders and will best facilitate its efforts to renegotiate its debt and raise the funds needed to continue its operations. The filing of these procedures has the effect of imposing an automatic stay of proceedings that will protect the company, its Canadian subsidiaries and their assets from the claims of creditors while the company pursues its restructuring efforts.