MONTREAL, QUEBEC, February 18, 2014 – Mercator Transport Group Corporation (“Mercator Transport” or the “Corporation”) (TSX-V: GMT), announces that Faunus Group International, Inc. (“FGI”) has filed a motion with the Superior Court, District of Montreal, to have a receivership appointed with respect to certain of the Corporation’s subsidiaries, namely Mercator Transport International Inc., 6432328 Canada Inc. (“Mercator Global Services”), Mercator Canada Inc. and 6936954 Canada Inc. (previously “Mercator Transport France Inc.”).
The motion was filed pursuant to Section 243 of the Bankruptcy and Insolvency Act (Canada), considering the expiry, as of February 14, 2014, of the previously announced Forbearance Agreement with FGI.
About Mercator Transport
Mercator Transport specializes in air, ocean and ground freight forwarding, international logistics and distribution. Based in Montreal (Canada), with offices in Lyon (France) and Buenos Aires (Argentina), Mercator Transport offers value-added services in global supply chain management, and designs tailor-made solutions. Customer intimacy and commitment differentiates Mercator Transport in its ability to implement customers’ requirements.
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For further information:
Mr. Robert Gagnon, Chief Financial Officer