SRx Health Solutions Initiates Restructuring Proceedings under CCAA for its Canadian Subsidiary

Core Viewpoint - SRx Health Solutions, Inc. has announced that its Canadian subsidiary, SRx Health Solutions (Canada), Inc., is seeking creditor protection under the Companies' Creditors Arrangement Act (CCAA) in Canada, while its U.S. operations, including the Halo subsidiary, will remain unaffected and no U.S. bankruptcy filing is expected [1][4]. Group 1: CCAA Proceedings - The decision to seek creditor protection was made in the best interest of stakeholders after evaluating SRx Canada's financial situation and consulting with legal and financial advisors [2]. - In the CCAA Proceedings, SRx Canada aims to obtain a stay of proceedings and approval for debtor-in-possession financing (DIP Financing) to allow time for potential restructuring transactions and maximize asset value for stakeholders [3]. - The company plans to continue critical business operations during the CCAA Proceedings [3]. Group 2: Impact on U.S. Operations - The company anticipates that neither it nor any of its U.S. assets, including the Halo subsidiary, will be affected by the CCAA Proceedings, and no bankruptcy proceedings will be initiated in the United States [4]. Group 3: Company Overview - SRx Health Solutions, Inc. is an integrated Canadian healthcare services provider operating within the specialty healthcare industry, with a network that spans all ten Canadian provinces [5]. - The company combines industry knowledge, technology, and a patient-centric focus to create strategies aimed at improving the wellness of Canadians [5].