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Mazarin Inc ( ($TSE:MAZ.H) ) has issued an update.
Asbestos Corporation Limited, along with its parent company Mazarin Inc., has announced that a third party has sought an order from the Superior Court of Québec to grant the company protection under the Companies’ Creditors Arrangement Act (CCAA). This move is intended to aid in restructuring efforts, with Raymond Chabot Inc. expected to be appointed as the monitor. If granted, the order will stay proceedings against ACL, including creditor claims and litigation, and may result in the cessation of trading of ACL’s shares on the TSX Venture Exchange. This development is significant for stakeholders as it indicates a major restructuring phase for ACL, potentially impacting its market operations and investor relations.
More about Mazarin Inc
Mazarin Inc. and Asbestos Corporation Limited are natural resource companies focused on developing industrial minerals to provide value-added products that meet global customer criteria for performance and economic and ecological concerns. Their shares trade on the NEX Board of the TSX Venture Exchange.
Average Trading Volume: 23,157
Technical Sentiment Signal: Sell
Current Market Cap: C$5.28M
For an in-depth examination of MAZ.H stock, go to TipRanks’ Stock Analysis page.