Colabor Group Inc. Obtains Creditor Protection Under CCAA and Announces the Appointments of Mr. Marc-Antoine Daoust as Chief Financial Officer and Mr. Yanick Blanchard as Chief Restructuring Officer

Core Viewpoint - Colabor Group Inc. has entered into protection under the Companies' Creditors Arrangement Act (CCAA) to facilitate its restructuring efforts and manage its financial obligations [1][2]. Group 1: CCAA Proceedings - The Superior Court of Quebec has issued an Initial Order granting Colabor and its subsidiaries protection under the CCAA, which includes a stay of proceedings against the Company and its subsidiaries [1][2]. - Raymond Chabot Inc. has been appointed as the Monitor to assist Colabor with its restructuring and report to the Court [2]. - The Initial Order allows for debtor-in-possession financing (DIP Financing) from The Toronto-Dominion Bank, The Bank of Montreal, and the Bank of Nova Scotia to support the Company's operations during the restructuring process [2]. Group 2: Sale and Investment Solicitation Process - The Court has approved a Sale and Investment Solicitation Process (SISP) to enable interested parties to submit proposals for the best possible transaction for Colabor and its stakeholders [3]. Group 3: Management Changes - Mr. Marc-Antoine Daoust has been appointed as Chief Financial Officer, succeeding Mr. Yanick Blanchard, who will now serve as Chief Restructuring Officer [4]. Group 4: Company Overview - Colabor is a distributor and wholesaler of food and related products, serving the hotel, restaurant, and institutional markets in Quebec and the Atlantic provinces, as well as the retail market [7].