Beleave Appoints Former CEO As Chief Restructuring Officer, Enters Stalking Horse Sales Process

Beleave Inc (CSE: BE) has seen its previously proposed stalking horse sale process approved by the courts, with Grant Thornton Limited appointed as monitor for the process. The company has also appointed a chief restructuring officer in connection with the court order.

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Former CEO (and most recently, interim CEO and COO) Bill Panagiotakapoulos has been appointed as the chief restructuring officer as a part of the process. The former interim CEO is tasked with assisting Beleave with its ongoing credit protection and the sales process.

As previously identified, the stalking horse bid will be set by that of Hegedus Consulting Services, given that the company entered into creditor protection to conduct a transaction proposed by the firm. The offer by Hegedus, while currently not disclosed, will act as the “stalking horse offer” within the transaction, with the company looking to identify or conclude a superior offer.

Beleave Inc last traded at $0.005 on the CSE.

Information for this briefing was found via Sedar and Beleave Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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