BioAmber Inc (fka BIOAQ)

[DIOSMIO3]

1 of 2 for you to read, dismissal upcoming

MONTREAL, June 18, 2018 /CNW Telbec/ - BioAmber Inc. (OTCPK: BIOA) ("BioAmber") announced today that it has received formal Quebec court approval for debtor-in-possession (DIP) financing. This funding will enable the execution of the Sales and Investor Solicitation Process (SISP) that commenced on June 1, 2018, as well as the continued operations of the Sarnia manufacturing facility.

Highlights of the court ruling include:

For the SISP, non-binding letters of intent ("LOIs") are now due by June 29, 2018, with binding term sheets being due by July 31, 2018;
The stay of proceedings against the petitioners has been extended by the court to July 31, 2018, consistent with the timing of the SISP;