Orea Mining Assigned Into Bankruptcy; Trustee Appointed
Vancouver, May 8, 2024 - Orea Mining Corp., has been permanently delisted from trading on the Toronto Stock Exchange and the OTCQB; transfer agent, clearing, CDS and DTC services are inactive or have terminated. Orea was assigned into bankruptcy on April 17, 2024. Crowe MacKay & Company Ltd., has been appointed as Licensed Insolvency Trustee (the "Trustee") of Orea's bankrupt estate, and affirmed by Orea's creditors at a meeting held on May 7, 2024.
The Trustee is conducting a Sale and Investment Solicitation Process, on an "as is, where is" basis, of Orea's 100% share ownership interest (the "Shares") in its Panamanian subsidiaries, which ultimately hold a 44.99% interest (the "Minority Interest") in the French joint-venture company Compagnie Minière Montagne d'Or, which was engaged in the development of the 5 million-ounce Montagne d'Or gold project (the "Project") in French Guiana, France.
There are no representations, warranties, or guarantees that are or will be made or implied by the Trustee or any other parties with respect to the Shares or the Minority Interest. It is uncertain what, if anything, a purchase of the Shares, and by extension of the Minority Interest, will achieve, beyond possibly obtaining access to certain documents, data, and records. Documents, data and records purchased with respect to the Shares and Minority Interest may be incomplete or inaccurate, therefore any potential purchaser of the Shares is directed to conduct its own research and due diligence. There is no assurance that a purchase of the Shares will close.
The deadline to submit bids to the Trustee is June 6, 2024, at 5:00pm PST.
Parties that require further information in order to assess this opportunity, can contact Mr. Tetsu Takagaki by email at tetsu.takagaki@crowemackay.ca.
Tetsu Takagaki
Crowe Mackay & Company Ltd.
in its capacity as Licenced Insolvency Trustee
of Orea Mining Corp. and not in its personal capacity.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208334