Just Energy Group announces that, effective at the close of business on Thursday, December 15, 2022, its common shares will be delisted from trading on the NEX board of the TSX Venture Exchange for failure to maintain exchange requirements due to the anticipated closing of the Transaction. As previously announced by the Company on December 1, 2022, trading in the common shares will be halted to facilitate the delisting of the common shares. This halt will become effective at the close of trading on Monday, December 12, 2022 and will remain in effect until delisting is completed. Delisting is occurring in connection with the anticipated closing of the previously announced transactions provided for under the transaction agreement entered into on August 4, 2022, as amended, supplemented or otherwise modified from time to time, among Just Energy and the lenders under the Company’s debtor-in-possession financing facility, one of their affiliates and the holder of certain assigned secured claims. Closing of the Transaction is currently expected to occur on December 16, 2022, subject to the satisfaction or waiver of the remaining conditions to closing. As previously announced by the Company, in connection with the completion of the Transaction, the Company: has applied for an order from Canadian securities administrators that it will cease to be a reporting issuer under Canadian securities laws immediately prior to the effective date of the Transaction; and (ii) will file on the date of the completion of the Transaction to suspend its reporting obligations under U.S. securities laws. The Company also expects that its common shares will cease trading from the OTC Pink Sheets in connection with completion of the Transaction. In connection with the Transaction, all common shares trading on the NEX and the OTC Pink Sheets will be cancelled.
Published first on TheFly
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