Mercator Transport Announces FGI Files Motion for Receivership
21 February 2014 - 4:14AM
Access Wire
MONTREAL, QUEBEC,
February 20, 2014 -
Mercator Transport Group Corporation ("Mercator Transport" or the
"Corporation") (TSX-V: GMT), announces that Faunus Group
International, Inc. ("FGI") has filed a motion
with the Superior Court, District of Montreal, to have a
receivership appointed with respect to certain of the Corporation's
subsidiaries, namely Mercator Transport International Inc., 6432328
Canada Inc. ("Mercator Global Services"), Mercator Canada Inc. and
6936954 Canada Inc. (previously "Mercator Transport France
Inc.").
The motion was filed
pursuant to Section 243 of the Bankruptcy and Insolvency Act
(Canada), considering the expiry, as of February 14,
2014, of the previously announced Forbearance Agreement with
FGI.
About Mercator Transport
Mercator Transport
specializes in air, ocean and ground freight forwarding,
international logistics and distribution. Based in Montreal
(Canada), with offices in Lyon (France) and Buenos Aires
(Argentina), Mercator Transport offers value-added services in
global supply chain management, and designs tailor-made solutions.
Customer intimacy and commitment differentiates Mercator
Transport in its ability to implement customers'
requirements.
Neither TSX Venture Exchange nor its
Regulatory Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
For further information:
Mr. Robert Gagnon, Chief Financial
Officer
Investor relations
investisseur@corpgmt.com
(514) 738-6464
(TSXV:GMT)
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