Priva Inc.
TSX VENTURE : PIV

Priva Inc.

October 26, 2007 18:08 ET

Superior Court of Quebec Authorizes the Sale of Priva Inc.'s Assets to Fiberlinks Textiles Inc.

MONTREAL, QUEBEC--(Marketwire - Oct. 26, 2007) - Priva Inc. (TSX VENTURE:PIV)("Priva") announced today that it has obtained an order from the Superior Court appointing RSM Richter Inc. ("Richter") as Interim Receiver to certain of its assets and authorizing the sale of the majority of its assets to Fiberlinks Textiles Inc. ("Fiberlinks"), a private manufacturer and distributor of textile products. In addition, the Superior Court of Quebec authorized Priva to file articles of amendment to change its name. Richter is also the trustee pursuant to Priva's notice of intention to make a proposal to its creditors pursuant to the Bankruptcy and Insolvency Act (the "Notice").

Copies of the Notice, Priva's motion and the court order will be made available shortly on Richter's website at www.rsmrichter.com.

About Priva

Montreal based Priva Inc. is a leading manufacturer, distributor and marketer of an assortment of absorbent, waterproof textile products sold to retailers in Canada, the U.S., the U.K., Australia and Spain, with export sales representing just about 67% of sales. Priva's products for adults are sold under the Priva and Americare™ labels; children's products are marketed under the "Snoozy™" and "Tidy Turtle™" brand names and Priva's anti-allergen products are sold under the Quorum™ and Zip & Block labels.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • David Arditi
    1-800-761-8881