IMV Inc., Immunovaccine Technologies Inc. and IMV USA Inc.

On May 1, 2023 IMV Inc., Immunovaccine Technologies Inc. and IMV USA Inc. (together, the "Applicants") sought and obtained an order (as amended from time to time, the ("Initial Order")) from the Supreme Court of Nova Scotia (the "Court") under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the "CCAA"). The Initial Order provides, among other things, a stay of proceedings until May 5, 2023 (the "Stay Period") which may be extended by the Court from time to time. Pursuant to the Initial Order, FTI Consulting Canada Inc. has been appointed as monitor (the "Monitor").

On May 5, 2023 the Applicants obtained an amended and restated initial order (the "ARIO") from the Court extending the period of the Court-ordered stay of proceedings against the Applicants under the CCAA until July 17, 2023.

On August 3, 2023 the Court issued an Extension Order effective on July 17, 2023, extending the Stay Period and the application of the ARIO until and including August 18, 2023.

On August 17, 2023 the Court issued a Second Extension Order extending the Stay Period and the application of the ARIO until and including September 29, 2023.

On September 6, 2023 the Court issued the Approval and Vesting Order, which approved the sale transaction contemplated by an agreement of purchase and sale dated September 1, 2023 (the "Agreement") and vesting and transferring all right, title, and interest in the Property to the Purchaser free and clear of all Claims.

On September 6, 2023 the Court issued the Interim Distribution and WEPPA Order, which ordered and declared that pursuant to section 5(5) of the Wage Earner Protection Program Act (Canada), SC 2005, c 47, s 1 (the "WEPPA"), IMV Inc. and Immunovaccine Technologies Inc. and their collective former employees meet the criteria prescribed by section 3.2 of the Wage Earner Protection Program Regulations, SOR/2008-222 and are individuals to whom the WEPPA applies as of the date of this Order. The Interim Distribution and WEPPA Order also authorizes, directs and empowers the Applicants to distribute to Horizon Technology Finance Corporation, in its capacity as collateral agent for itself and Powerscourt Investments XXV, LP, in the amount of $2,000,000.

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Proceedings under Chapter 15 of the United States Bankruptcy Code were initiated by the foreign representative of the Applicants on May 8, 2023. Please refer to the Chapter 15 Proceedings section of this website for additional information regarding the Chapter 15 Proceedings.

Further details relating to this matter may be accessed by using the menu to the left, or contacting the Monitor using the information below:

Phone: 1-416-649-8121
Toll Free: 1-833-860-8353
Email: imv@fticonsulting.com