MPXI:CC - MPX International Announces Commencement of Court-Approved Sale and Investment Solicitation Process

(TheNewswire)

TORONTO, Ontario – TheNewswire - August 4, 2022 - MPX International Corporation (the“Corporation” or “MPXI”) (CSE:MPXI ) ; (CNSX:MPXI.CN); ( OTC:MPXOF) - As previously disclosed, on July 25, 2022, theCorporation and certain of its Canadian subsidiaries (collectively,the “ CCAA Applicants ”)were granted creditor protection pursuant to an order (as amended andrestated, the " InitialOrder ") from the Ontario Superior Court of Justice(Commercial List) (the " Court ") under the Companies’ Creditors Arrangement Act (the “ CCAA ”). The Initial Order alsoextended certain protections to MPXI's foreign subsidiaries (the" Non-Applicant StayParties " and together with the CCAA Applicants, the" MPXI Entities ") andappointed KSV Restructuring Inc. as monitor of the CCAA Applicants (insuch capacity, the " Monitor ").

Pursuant to an order granted by the Court on August 4,2022 (the " SISP ApprovalOrder "), the MPXI Entities have initiated asale and investment solicitation process (the " SISP ") to beconducted by the Monitor, with the assistance of the MPXI Entities.

The SISP is intended to solicit interest in, andopportunities for, a sale of, or investment in, all or substantiallyall, or one or more components of the assets and/or the businessoperations of the MPXI Entities.  All qualified interested partieswill be provided with an opportunity to participate in the SISP,including receipt of a confidential information memorandum and accessto a virtual data-room upon execution of a non-disclosure agreementacceptable to the MPXI Entities and the Monitor. Collectively, theMPXI Entities have high quality assets with evolving partnership anddistribution opportunities in a number of jurisdictions around theworld. The MPXI Entities are focused on cultivation, manufacturing,and marketing and are optimally positioned for global growth as theregulatory environments in jurisdictions continue to evolve.

Qualified interested parties who wish to submit a bidin the SISP must deliver abinding offer to the Monitor and the MPXIEntities in accordance with the SISP, no later than 5:00 p.m. (EasternTime) on September 8, 2022 .

Copies of the Initial Order, the SISP Approval Order,the SISP and all related materials may be obtained from the website ofthe Monitor at: https://www.ksvadvisory.com/experience/case/MPXI

Those interested in participating in the SISP shouldcontact the Monitor to receive additional information at:

About MPXI

MPXI is a multinational diversified cannabis companyfocused on developing and operating assets across the internationalcannabis industry with an emphasis on cultivating, manufacturing andmarketing products which include cannabinoids as their primary activeingredient. With current operations spanning four continents inCanada, South Africa, Malta and Thailand as well as evolvingpartnership and distribution opportunities in other jurisdictions,MPXI has positioned itself as an emergent global participant in thecannabis industry.

NOT FOR DISTRIBUTION TO NEWSWIRESERVICES IN THE UNITED STATES OR FOR DISSEMINATION IN THE UNITEDSTATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE AVIOLATION OF UNITED STATES SECURITIES LAWS.

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