MONTREAL, April 18, 2016 /CNW Telbec/ - SENSIO Technologies
Inc. ("SENSIO" or "the Company") (TSXV: SIO) announced today that,
as a result of the inconclusive sale process of its main asset, its
video-on-demand service 3DGO! TM, its board of directors
decided to not request any further extension of the stay of
proceedings in favour of the Company. Following such decision, all
independent directors have resigned effective immediately. The
non-renewal of the stay will result in Sensio's deemed assignment
in bankruptcy on April 21, 2016
pursuant the Bankruptcy and Insolvency Act (Canada) (the "BIA").
Sensio has been operating under the protection of the BIA since
December 23, 2015 while pursuing the
sale of its remaining assets with the assistance of Deloitte
Restructuring Inc. Any net proceeds of the sale will be distributed
to the Company's creditors.
About SENSIO
Founded in 1999, SENSIO Technologies Inc.
is a pioneer in the field of stereoscopic 3D imaging and of 3D
content distribution at home.
Neither 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 release.
SOURCE SENSIO Technologies Inc.