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Article: ART Advanced Research Technologies Inc. Secures Up to $1.2 Million in Interim Financing in Connection With the Pursuit of Its Strategic Review Process and... ...Files a Notice of Intention Under the Bankruptcy and Insolvency Act.
- Article from:
- Marketwire Canada
- Article date:
- November 2, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MONTREAL, QUEBEC, Nov 2, 2009 (Marketwire via COMTEX) -- ART Advanced Research Technologies Inc. (ART) (TSX:ARA), a Canadian medical device company and a leader in optical molecular imaging products for the healthcare and pharmaceutical industries, announced that earlier today it filed a notice of intention to make a proposal to its creditors under the Bankruptcy and Insolvency Act with KPMG Inc. in order to provide the company with the liquidity it requires to pursue its solicitation process. ART was also authorized pursuant to an order of the Quebec Superior Court to enter into a loan agreement with Dorsky Worldwide Corp. for interim financing in an amount of up to ...