Background

On August 6, 2024, the Ontario Superior Court of Justice (Commercial List) (the "Court") issued an order (the "Initial Order") pursuant to the Companies' Creditors Arrangement Act ("CCAA"). The Initial Order provided for certain relief, including a stay of proceedings against 1000370759 Ontario Inc. and Galaxie Brands Corporation (collectively, the “Debtors”) and ordered that KPMG Inc. be appointed as Court-appointed monitor of the Debtors (in such capacity, the “Monitor”).

Sale and investment solicitation process

On August 15, 2024, the Court granted an order, which among other things, approved (i) a sale and investment solicitation process (the "SISP") and (ii) a stalking horse subscription agreement dated August 15, 2024 (the "Stalking Horse Agreement"). Copies of the Bidding Procedures in connection with the SISP, and the Stalking Horse Agreement can be found within the Sale and investment solicitation process section below. Pursuant to the Bidding Procedures, the deadline by which all interested buyers must submit bids to the Monitor in connection with the SISP is September 24, 2024 at 5:00pm EST.

Contact information

galaxie@kpmg.ca
Toll free within North America:
1-833-668-2887
Local Phone Number:
416-777-3696

Sale and investment solicitation process

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