{"id":23296,"date":"2025-01-20T05:23:21","date_gmt":"2025-01-20T10:23:21","guid":{"rendered":"https:\/\/earthalivect.com\/?p=23296"},"modified":"2025-01-20T05:23:21","modified_gmt":"2025-01-20T10:23:21","slug":"sale-transaction","status":"publish","type":"post","link":"https:\/\/earthalivect.com\/el\/2025\/01\/20\/sale-transaction\/","title":{"rendered":"Earth Alive Clean Technologies Announces Sale Transaction"},"content":{"rendered":"<p><strong>Montr\u00e9al, Canada, January 17, 2025\u2014 Earth Alive Clean Technologies Inc. (TSXV: EAC \u2013 \u201cEarth Alive\u201d <\/strong>or the<strong> \u201cCompany\u201d)<\/strong> announces its intention to complete a sale transaction and ancillary steps (collectively, the \u201c<strong>Transaction<\/strong>\u201d) pursuant to a Subscription Agreement, dated January 17, 2025 (the \u201c<strong>Subscription Agreement<\/strong>\u201d), between the Company and 9530-8086 Qu\u00e9bec Inc. (the \u201c<strong>Purchaser<\/strong>\u201d). The promoters of the Purchaser comprises a group of investors, including Mr. Erik Bomans (a director of the Company) and Mr. Nikolaos Sofronis (a director and the chief executive officer of the Company). The Subscription Agreement was entered into in connection with the Company\u2019s proceedings under the <em>Bankruptcy and Insolvency Act<\/em> (Canada) (the \u201c<strong>BIA<\/strong>\u201d) and the related sales and investment solicitation process (the \u201c<strong>SISP<\/strong>\u201d) approved by the Superior Court of Qu\u00e9bec (the \u201c<strong>Court<\/strong>\u201d), whereby the Purchaser was selected as the successful bidder under the SISP.<\/p>\n<p>The Transaction, as contemplated under the Subscription Agreement, provides, among other things, that (i) the Purchaser will subscribe for certain common shares in the capital of the Company, (ii) all other equity interest in the Company will be cancelled, for no consideration and (iii) upon closing of the transaction contemplated under the Subscription Agreement, the Purchaser will hold all of the issued and outstanding common shares of the Company, all on and subject to the terms and conditions of the Subscription Agreement. The Subscription Agreement contemplates the assumption of the vast majority of the Company\u2019s indebtedness and the continuation of the employment of all of the Company\u2019s employees.<\/p>\n<p>The Transaction is a result of the implementation of the SISP, is conditional upon the approval of the Court, among other things, and is to be given effect by way of a reverse vesting order and certain ancillary relief, to be granted with the BIA proceedings.<\/p>\n<p>The Company intends to file an application seeking approval of the Transaction in the coming days. Additional information related to the BIA proceedings can be found on the Trustee&#8217;s website at the following address: <a href=\"https:\/\/www.raymondchabot.com\/en\/companies\/public-records\/earth-alive-clean-technologies-inc\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.raymondchabot.com\/en\/companies\/public-records\/earth-alive-clean-technologies-inc\/<\/a>.<\/p>\n<p>Anyone interested in obtaining more information about the BIA proceedings, the SISP or the Transaction should contact the proposal trustee (Ayman Chaaban &#8211; <a href=\"mailto:Chaaban.Ayman@rcgt.com\" target=\"_blank\" rel=\"noopener\">Chaaban.Ayman@rcgt.com<\/a>) or the Company\u2019s legal counsel (Gabriel Lavery Lepage \u2013 <a href=\"mailto:glaverylepage@dwpv.com\" target=\"_blank\" rel=\"noopener\">glaverylepage@dwpv.com<\/a>).<\/p>\n<p><strong>About Earth Alive Clean Technologies Inc.<\/strong><\/p>\n<p>Earth Alive is a leader in the microbial technologies industry. Earth Alive\u2019s innovative products contribute to regenerative agriculture, natural dust suppression with minimal water use, and ecological, human-friendly industrial cleaning. For more information, please visit: <a href=\"https:\/\/earthalivect.com\">https:\/\/earthalivect.com<\/a>.<\/p>\n<p>For inquiries, please contact:<br \/>\nNikolaos Sofronis, CEO<br \/>\nPhone: 438-316-3562<br \/>\nEmail:\u00a0<a href=\"mailto:nsofronis@earthalivect.com\" target=\"_blank\" rel=\"noopener\">nsofronis@earthalivect.com<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Montr\u00e9al, Canada, January 17, 2025\u2014 Earth Alive Clean Technologies Inc. (TSXV: EAC \u2013 \u201cEarth Alive\u201d or the \u201cCompany\u201d) announces its intention to complete a sale transaction and ancillary steps (collectively, the \u201cTransaction\u201d) pursuant to a Subscription Agreement, dated January 17, 2025 (the \u201cSubscription Agreement\u201d), between the Company and 9530-8086 Qu\u00e9bec Inc. (the \u201cPurchaser\u201d). The promoters [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":23300,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-23296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Earth Alive Clean Technologies Announces Sale Transaction - Earth Alive Clean Technologies<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/earthalivect.com\/el\/2025\/01\/20\/sale-transaction\/\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/earthalivect.com\/el\/2025\/01\/20\/sale-transaction\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/earthalivect.com\/el\/2025\/01\/20\/sale-transaction\/\"},\"author\":{\"name\":\"Patrick Leidgens\",\"@id\":\"https:\/\/earthalivect.com\/el\/#\/schema\/person\/38d71bf3706b0ff2142234f0c4b07692\"},\"headline\":\"Earth Alive Clean Technologies Announces Sale Transaction\",\"datePublished\":\"2025-01-20T10:23:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/earthalivect.com\/el\/2025\/01\/20\/sale-transaction\/\"},\"wordCount\":442,\"publisher\":{\"@id\":\"https:\/\/earthalivect.com\/el\/#organization\"},\"image\":{\"@id\":\"https:\/\/earthalivect.com\/el\/2025\/01\/20\/sale-transaction\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/earthalivect.com\/wp-content\/uploads\/2025\/01\/getty-images-fA2U7scs8yw-unsplash.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"el\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/earthalivect.com\/el\/2025\/01\/20\/sale-transaction\/\",\"url\":\"https:\/\/earthalivect.com\/el\/2025\/01\/20\/sale-transaction\/\",\"name\":\"Earth Alive Clean Technologies Announces Sale Transaction - 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