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Global Food and Ingredients Ltd. (TSXV:PEAS), known as GFI, is a Canadian plant-based food and ingredients company that connects local farms to the global supply chain, specializing in peas, beans, lentils, and chickpeas. With a vision to be a vertically integrated farm-to-fork plant-based company, GFI offers traceable, locally sourced, healthy, and sustainable food and ingredients. The company operates in four primary business lines: Core Ingredients, Value-Added Ingredients, Plant-Based Pet Food Ingredients, and Downstream Products. Headquartered in Toronto, GFI processes its products locally at four wholly-owned processing facilities in Western Canada and ships to 37 countries worldwide.
Global Food and Ingredients (TSXV:PEAS) received letters from senior secured lenders demanding full payment of subsidiary debts totaling $21,832,965. Lenders issued Notices of Intention to Enforce Security under the Bankruptcy and Insolvency Act. GFI faces financial difficulties, with a receiver appointment sought on May 23, 2024. The stock's trading remains suspended on the TSX Venture Exchange due to non-compliance.
Global Food and Ingredients (TSXV:PEAS) announced the wind-down of its operations due to challenges in raw material supply, leading to a decline in sales and gross profit. Despite extensive reviews, the company couldn't find a viable solution and will be selling its assets. The directors have resigned, but officers remain unchanged.
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