Priva Inc.

Priva Inc.

November 23, 2007 12:34 ET

Priva Inc. Makes a Proposal to its Creditors Pursuant to the Bankruptcy and Insolvency Act

MONTREAL, QUEBEC--(Marketwire - Nov. 23, 2007) - Priva Inc. (TSX VENTURE:PIV)("Priva") announced today that it has filed a proposal for its creditors (the "Proposal") pursuant to the Bankruptcy and Insolvency Act with RSM Richter Inc., a licensed trustee ("Richter"). The Proposal provides for a basket of $150,000 to be distributed amongst the preferred and unsecured creditors of Priva. If accepted by the statutory majorities of creditors, 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.

A copy of the proposal will be available shortly on Richter's website at

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

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  • Priva Inc.
    David Arditi