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

Core Viewpoint - Colabor Group Inc. has entered into protection under the Companies' Creditors Arrangement Act (CCAA) to facilitate its restructuring efforts, with an initial order granted by the Superior Court of Quebec [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, allowing for a stay of proceedings against the company and its subsidiaries, including a stay of creditor claims [1][2]. - Raymond Chabot Inc. has been appointed as the Monitor to assist Colabor with its restructuring and to report to the Court [2]. - The initial order includes approval for debtor-in-possession financing (DIP Financing) from The Toronto-Dominion Bank, The Bank of Montreal, and the Bank of Nova Scotia, which will support the sale and investment solicitation process and the company's operations during restructuring [2][3]. Group 2: Management and Operations - The Court has approved a Sale and Investment Solicitation Process (SISP) to allow interested parties to submit proposals for the best possible transaction for Colabor and its stakeholders [3]. - Management will continue to oversee day-to-day operations while under CCAA protection, with oversight from the Monitor [3]. - 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 3: 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].