October 4, 2022

Filing Type:

Company Counsel: McCarthy's

Trustee: A&M

Trustee Counsel: Fasken



Great Panther Mining Limited, a precious metals producer focused on the operation of the Tucano Gold Mine in Brazil, had its NOI proceedings continued under the CCAA on October 4. The NOI proceedings were initiated in response to significant liquidity constraints as a result of various factors, including ongoing operational challenges and necessary spending, including safety and environmental concerns and contractor mobilization delays; ongoing inflationary pressures; and the residual impact of currency hedge positions, which have significantly lowered the company's cash position. Continuing under the CCAA allows the company greater flexibility as it pursues restructuring opportunities for its business, particularly in light of the dual plenary proceedings commenced in Canada (in respect of the company) and Brazil (in respect of a related entity). A&M is the Monitor. Counsel is McCarthy's for the company, Fasken for the Monitor, Torys for the company's directors and Aird & Berlis for Asahi Refining Canada Ltd.

By Dina Milivojevic