VANCOUVER--(BUSINESS WIRE)--Contec Innovations Inc. (the “Company”) (TSX–V: BUZ), today announced that in the present financial environment it has been unable to secure additional funding or other reasonable strategic alternatives and has made a voluntary assignment in bankruptcy. KPMG Inc. has been appointed the Trustee in bankruptcy. In addition, Ma Yu has resigned as a director and Sean Alger has resigned as Chief Financial Officer.
Don Lay, the remaining director and officer is working with KPMG Inc. to maximize value to the creditors and shareholders. The Company wishes to thank its shareholders, customers, suppliers, employees and other stakeholders for their support over the years.
Questions may be directed to the Trustee as follows:
| KPMG Inc. | ||||
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777 Dunsmuir Street |
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| P.O. Box 10426, Pacific Centre | ||||
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Vancouver, BC V7Y 1K3 |
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| Attention: Rob Richards | ||||
| Telephone: | 604-646-6360 | |||
| Fax: | 604-691-3036 | |||
| Email: | ||||
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. The statement made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company’s expectations. Hornet™ is a trademark of Contec Innovations Inc.
KPMG Inc. for Contec Innovations
Rob Richards, 604-646-6360
robrichards@kpmg.ca
69.72 (0.62%)
