Taiga Obtains Interim DIP Facility and Interim Order for Creditor Protection under CCAA to Pursue a Restructuring and SISP Process

MONTREAL, July 10, 2024 /CNW/ - Taiga Motors Corporation (TSX:TAIG.TO) ("Taiga" or the "Company") today announced that Taiga and its subsidiaries (collectively, the "Taiga Group") have sought and obtained from the Superior Court of Québec (the "Court") (i) an order (the "Initial Order") providing them with creditor protection pursuant to the Companies' Creditors Arrangement Act (the "CCAA"), and (ii) an order authorizing the Taiga Group to pursue, under the supervision of the Court, a formal sale and investment solicitation process (the "SISP"), which process was initiated prior to the CCAA proceedings that were commenced today (the "CCAA Proceedings").