TORONTO, Jan. 23,
2025 /CNW/ - Pluribus Technologies Corp. (TSXV: PLRB)
("Pluribus" or the "Company") announces that B. Riley Farber Inc.,
in its capacity as Court-appointed monitor (the "Monitor") of
Pluribus and its subsidiaries (collectively, the "Pluribus Group"
or the "Companies"), is undertaking a court-supervised sale and
investment solicitation process ("SISP") to identify potential
buyers or investors for all or part of the Pluribus Group's assets
and business operations.
The Pluribus Group includes Pluribus Technologies Corp., and
numerous other subsidiaries in the eLearning and Education
Technology (EdTech) and eCommerce sectors. Among its notable assets
is The Learning Network (TLN), which comprises six businesses
offering integrated online learning software and digital training
services to over 350 customers. It also includes Kesson Group,
which provides a teacher recruitment and jobs platform, an online
tutoring platform and alternative teacher certification programs,
under the brands Teach Away, Skooli, and Klassroom. Additionally,
Social5, a social media marketing agency leveraging proprietary
technology and top-tier talent to deliver affordable marketing
solutions for small businesses, is part of the portfolio.
B. Riley Farber, with the
assistance of the Companies, is soliciting interest in a potential
sale or investment. Interested parties must submit binding offers,
including fully executed purchase and sale agreements, no later
than February 18, 2025, at
4:00 PM EST. Detailed information
about the SISP, including access to relevant documentation, can be
obtained via the Monitor's website at
https://brileyfarber.com/engagements/pluribus-technologies-corp or
by contacting the Monitor at pluribus@brileyfin.com.
About Pluribus Technologies Corp.
Pluribus is a technology company that is a value-based acquirer,
operator, and divestor of small, profitable business-to-business
technology companies in a range of verticals and industries.
Pluribus provides its acquisitions access to experienced sales and
marketing resources, strategic partnership opportunities, a diverse
portfolio of customers in different geographical markets, and
enabling technologies to create new revenue streams and drive
growth. When market conditions are conducive to raising capital at
reasonable costs, Pluribus focuses on rapidly acquiring and
integrating new companies to accelerate growth. In less favorable
environments, Pluribus implements strategies to maximize organic
growth, increase cash flow, and selectively divest portfolio
companies to optimize value. For more information, please visit:
pluribustechnologies.com.
Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of applicable securities laws. Any such forward-looking
statements may be identified by words such as "will", "expects",
"anticipates", "intends", "contemplates", "believes", "projects",
"plans" and similar expressions. Readers are cautioned not to place
undue reliance on forward-looking statements. Forward-looking
statements in this release include statements regarding: the
court-supervised sale and investment solicitation process and the
Pluribus Group's assets and business operations. Forward-looking
statements are necessarily based on a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties and other factors which may cause
actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such
factors include, but are not limited to: litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments; delay or failure to receive creditor or
regulatory approvals; the ability to complete any future potential
transactions in connection with the SISP in CCAA proceedings and
the terms and conditions thereof; the availability of DIP
Financing; the application of federal, provincial and municipal
laws; the impact of increasing competition; those additional risks
set out in the Company's public documents filed on SEDAR+
at www.sedarplus.com. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
statements are reasonable, undue reliance should not be placed on
these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. Except where required by
law, the Company disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
For further information about Pluribus Group and the CCAA
proceedings, please contact the Monitor: B. Riley Farber Inc., 150
York Street, Suite 1600, Toronto,
Ontario M5H 3S5, Phone: (437) 294-4600,
Email: pluribus@brileyfin.com or Diane Pedreira, President and Chief Operating
Officer, Phone: 1(800) 851-9383.
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SOURCE Pluribus Technologies Inc.
