Flower One: Flower One Obtains Meeting Order Under The Companies' Creditors Arrangement Act

Flower One Holdings Inc. (CSE:FONE) (FSE:F11) announced that the Supreme Court of British Columbia has granted an order which, among other things, authorizes the Canadian company and its Canadian subsidiaries Flower One Corp. and FO Labour Management Ltd. to present a plan of compromise, arrangement and reorganization of the Canadian companies to their affected creditors at a meeting on December 19, 2022 at 2:00pm PST. Provided the plan receives the requisite approvals at the meeting and by the court, and is implemented in accordance with its terms: Affected creditors of the Canadian companies will receive a distribution in accordance with the plan. Flower One will cease to own the US operations and the Canadian companies will cease to have any ...Full story available on Benzinga.com