Update on Prime Drink Group's Bottling Subsidiary Situation
In a recent announcement, Prime Drink Group Corp. (CSE: PRME) has disclosed that its bottling subsidiary, previously recognized as Triani Canada Inc., is now under receivership and has halted its operations. This decision was mandated by the Superior Court, following requests from Triani's key creditors, and it took place on June 10, 2025.
Clarification on Company Structure
It's vital to note that the primary entity, Prime Drink Group Corp., along with its other subsidiaries, remains unaffected by the receivership. The freshwater rights are distinctly separated, ensuring that operations continue as usual on this front.
Future Directions and Growth Strategies
As part of its commitment to rejuvenating its business and brands, Prime is actively exploring various options moving forward. This includes the prospect of submitting an acquisition offer to its principal creditors aimed at procuring certain strategic assets of Triani. The Company is also weighing other potential recourse avenues concerning Triani and other stakeholders.
Leadership Insights
Olivier Primeau, the VP of Marketing, Strategic Vision, and Acquisitions at Prime, expressed optimism despite the challenging circumstances. He stated, “The receivership of Triani a few months after its acquisition puts us in a challenging situation but our resolve and vision remain unwavering. We aim to recover what is owed to us and to propel the development of our promising water and beverage assets.”
Commitment to Sustainable Development
Prime maintains its dedication to responsibly developing water resources in Québec. The Company is positively engaging with government authorities, facilitating discussions that aim to promote sustainable practices.
New Appointment in Financial Management
In an effort to strengthen its management team, Prime has appointed Jean Gosselin as its new Chief Financial Officer. With over 40 years of extensive experience in finance and operations, Jean has previously served as Vice President of Finance and Corporate Secretary at Prime, making him well-equipped to guide the Company through this period.
About Prime Drink Group
Prime Drink Group Corp (CSE: PRME) is a company based in Québec focused on evolving into a diversified holding entity specializing in beverages, influencer media, and hospitality sectors. The Company's strategic vision positions it for significant growth and innovation.
Contact Information
For more information, reach out to Jean Gosselin, CFO.
Phone: (514) 394-7717
Email: info@prime-group.ca
Frequently Asked Questions
What led to the receivership of Triani Canada Inc.?
The receivership was initiated due to financial difficulties faced by Triani and was ordered by the Superior Court at the request of its principal creditors.
How does this affect Prime Drink Group?
Prime Drink Group itself is not affected by the receivership, allowing it to continue operations and explore strategic options for recovery and growth.
What are Prime Drink Group's future plans?
Prime is looking into acquiring strategic assets from Triani and considering other avenues for recourse to enhance its business operations.
Who is the new Chief Financial Officer?
Jean Gosselin has been appointed as the Chief Financial Officer. He brings over 40 years of experience in finance and operations to the role.
What is the company's commitment towards resource development?
Prime Drink Group is dedicated to the responsible development of its water resources and is actively engaging with government authorities to promote sustainable practices.
