MONTREAL, June 23, 2026 (GLOBE NEWSWIRE) — PREMIER HEALTH OF AMERICA INC. (TSX-V: PHA) (“Premier Health” or the “Company”) announces that, further to its news release issued this morning and the hearing of the motion for the issuance of an Initial Order before the Québec Superior Court (Commercial Division) (the “Court”) brought forward by the Royal Bank of Canada (the “Applicant”) in its capacity as a secured creditor, an initial order (the “Initial Order”) granting the Company and certain of its subsidiaries (the “Companies”) protection under the Companies’ Creditors Arrangement Act (Canada) (the “CCAA”) has been issued.
Pursuant to the Initial Order, FTI Consulting Canada Inc. (the “Monitor”) has been appointed as monitor of the Companies to oversee the restructuring contemplated in the Initial Order (the “Proposed Restructuring”).
The Initial Order provides for, among other things, a broad stay of proceedings against the Companies and their property, interim financing provided by the Applicant in the initial amount of up to $1,500,000 to finance the operations and the restructuring proceedings as well as limited relief in respect of certain securities filing obligations.
The objective of the CCAA proceedings is to allow for the continuation and finalization of an ongoing sale and investment solicitation process (“SISP”) conducted by FTI Capital Advisors, with the goal of implementing one or more going concern sale transactions resulting therefrom, in furtherance of the CCAA’s remedial objectives.
Business operations will continue in the ordinary course, and the Company’s clients should expect no changes to day-to- day operations and service levels. The Company’s focus remains on delivering reliable, high-quality healthcare solutions and ensuring continuity of service for the organizations and communities served.
The board of directors of the Company will remain in place during this process, and management will remain responsible for the day-to-day operations of the Company, under the general oversight and supervision of the Monitor.
Documents relating to the restructuring process, such as the Initial Order, the Monitor’s reports to the Court, will be made available on the Monitor’s website at https://cfcanada.fticonsulting.com/PHA. Readers are urged to consult the full text of all of these documents for further, more detailed, information.
Trading in the Company’s common shares on the TSX Venture Exchange (“TSXV”) has been halted. The common shares will remain halted until such date that the TSXV determines.
About Premier Health
Premier Health is a leading Canadian Healthtech company that provides a comprehensive range of outsourced services solutions for healthcare needs to governments, companies, and individuals. Premier Health uses its proprietary LiPHe® platform to lead the digital transformation of the healthcare services sector, providing patients with faster, more affordable, and more accessible care.
Forward-Looking Information
Certain statements in the preceding may constitute forward-looking statements, including the successful completion of the SISP, the Companies’ intention to operate in the ordinary course during CCAA proceedings, the expectation that the Companies’ day-to-day operations and service levels will remain unchanged and the date until which trading in the common shares will remain halted. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These factors include the possibility that the Court will materially modify the Proposed Restructuring , the inability to successfully complete the SISP, operational disruptions arising from restrictions imposed during the CCAA proceedings, continued suspension of trading of the common shares, and other risks and uncertainties discussed in the management discussion and analysis section of the Company’s interim and most recent annual financial statement. There can be no assurance that such forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For Further Information Please Contact:
| Mr. Guy D’Aoust Interim Chief Executive Officer Premier Health of America Inc. gdaoust@premierhealth.ca / 1 800 231 9916 |
Mr. Frédéric St-Cyr Interim Chief Financial Officer Premier Health of America Inc. fstcyr@premierhealth.ca / 1 800 231 9916 |
