Brief: Nevada Copper Provides Update On Chapter 11 Bankruptcy Process And Management Appointments

Nevada Copper

17/06/2024 23:35

June 17 (Reuters) - Nevada Copper Corp  NCU.TO :
    * NEVADA COPPER PROVIDES UPDATE ON CHAPTER 11 BANKRUPTCY
PROCESS
AND MANAGEMENT APPOINTMENTS
    * HAS RECEIVED ORDERS FROM BANKRUPTCY COURT OF DISTRICT OF
NEVADA,
INCLUDING INTERIM APPROVAL OF ITS DEBTOR-IN-POSSESSION FINANCING
    * NEVADA COPPER - DURING RESTRUCTURING PERIOD, COMPANY
INTENDS TO
PURSUE A SALE PROCESS AND HAS RETAINED MOELIS & COMPANY LLC TO
ASSIST WITH PROCESS.
    * BORROWING WILL FUND COMPANY'S CARE AND MAINTENANCE AND
OTHER
REQUIREMENTS DURING CHAPTER 11 PROCESS
    * INTENDS TO SEEK A FINAL ORDER APPROVING REMAINDER OF
BORROWING
TO PROVIDE IT WITH LIQUIDITY FOR BALANCE OF RESTRUCTURING PERIOD
    * COMPANY INTENDS TO PURSUE A SALE PROCESS AND HAS RETAINED
MOELIS
& COMPANY LLC TO ASSIST WITH PROCESS
    * APPOINTED GREGORY MARTIN AS INTERIM PRESIDENT AND CEO AND
MATTHEW ANDERSON AS INTERIM CFO. MESSRS
    * RECEIVED APPROVAL TO CONTINUE WAGES AND BENEFIT PROGRAMS
FOR ITS
EMPLOYEES DURING BANKRUPTCY PROCESS
    * NOTES IT IS UNDER DELISTING REVIEW BY TORONTO STOCK
EXCHANGE AND
ITS SHARES CURRENTLY REMAIN HALTED FROM TRADING ON EXCHANGE

Source text for Eikon:  ID:nGNX2KDpQS 
Further company coverage:  NCU.TO 

 ((Reuters.Briefs@thomsonreuters.com;))