MJardin Group has decided to suspend construction and certain business activities at the Warman facility, effective July 12, 2021. Additionally, the company has announced that, as a part of its previously announced restructuring engagement with Restructur Advisors (“RA”), it has launched a Sales and Investment Solicitation Process (“SISP”) relating to the company, and all its Canadian and US assets.
In response to market conditions, the company is placing Warman into care and maintenance until further notice. The company will keep the Facility’s Health Canada licensing in place and retains the option to take the Facility out of care and maintenance or if circumstances require, completely shut down Warman. The suspension of ongoing construction and certain business activities at Warman required the company to terminate seventeen (17) employees in Canada and the United States and will enable the company to preserve cashflow while it facilitates the SISP.