Priva Inc.

Priva Inc.

December 12, 2007 17:21 ET

Priva Inc.'s Proposal is Approved by its Creditors

MONTREAL, QUEBEC--(Marketwire - Dec. 12, 2007) - Priva Inc. (TSX VENTURE:PIV) ("Priva") announced today that the statutory majorities of creditors have accepted its proposal filed pursuant to the Bankruptcy and Insolvency Act (the "Proposal") with RSM Richter Inc. ("Richter"). The Proposal provides for a basket of $150,000 to be distributed amongst the preferred and unsecured creditors of Priva. Priva will apply to the Superior Court of Quebec for approval of the Proposal. If approved by the Court, the Proposal will be binding on all creditors subject thereto and Richter will distribute dividends to the creditors in accordance with the terms thereof.

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  • Priva Inc.
    David Arditi