Pluribus Technologies Corp. Begins Restructuring and Sales Process

TORONTO, Jan. 23, 2025 /CNW/ - Pluribus Technologies Corp. (TSXV: PLRB) ("Pluribus" or the "Company") announces that B. Riley Farber Inc., in its capacity as Court-appointed monitor (the "Monitor") of Pluribus and its subsidiaries (collectively, the "Pluribus Group" or the "Companies"), is undertaking a court-supervised sale and investment solicitation process ("SISP") to identify potential buyers or investors for all or part of the Pluribus Group's assets and business operations.

The Pluribus Group includes Pluribus Technologies Corp., and numerous other subsidiaries in the eLearning and Education Technology (EdTech) and eCommerce sectors. Among its notable assets is The Learning Network (TLN), which comprises six businesses offering integrated online learning software and digital training services to over 350 customers. It also includes Kesson Group, which provides a teacher recruitment and jobs platform, an online tutoring platform and alternative teacher certification programs, under the brands Teach Away, Skooli, and Klassroom. Additionally, Social5, a social media marketing agency leveraging proprietary technology and top-tier talent to deliver affordable marketing solutions for small businesses, is part of the portfolio.

B. Riley Farber, with the assistance of the Companies, is soliciting interest in a potential sale or investment. Interested parties must submit binding offers, including fully executed purchase and sale agreements, no later than February 18, 2025, at 4:00 PM EST. Detailed information about the SISP, including access to relevant documentation, can be obtained via the Monitor's website at https://brileyfarber.com/engagements/pluribus-technologies-corp or by contacting the Monitor at [email protected].

About Pluribus Technologies Corp.

Pluribus is a technology company that is a value-based acquirer, operator, and divestor of small, profitable business-to-business technology companies in a range of verticals and industries. Pluribus provides its acquisitions access to experienced sales and marketing resources, strategic partnership opportunities, a diverse portfolio of customers in different geographical markets, and enabling technologies to create new revenue streams and drive growth. When market conditions are conducive to raising capital at reasonable costs, Pluribus focuses on rapidly acquiring and integrating new companies to accelerate growth. In less favorable environments, Pluribus implements strategies to maximize organic growth, increase cash flow, and selectively divest portfolio companies to optimize value. For more information, please visit: pluribustechnologies.com.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Any such forward-looking statements may be identified by words such as "will", "expects", "anticipates", "intends", "contemplates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements in this release include statements regarding: the court-supervised sale and investment solicitation process and the Pluribus Group's assets and business operations. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive creditor or regulatory approvals; the ability to complete any future potential transactions in connection with the SISP in CCAA proceedings and the terms and conditions thereof; the availability of DIP Financing; the application of federal, provincial and municipal laws; the impact of increasing competition; those additional risks set out in the Company's public documents filed on SEDAR+ at www.sedarplus.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

For further information about Pluribus Group and the CCAA proceedings, please contact the Monitor: B. Riley Farber Inc., 150 York Street, Suite 1600, Toronto, Ontario M5H 3S5, Phone: (437) 294-4600, Email: [email protected] or Diane Pedreira, President and Chief Operating Officer, Phone: 1(800) 851-9383.

SOURCE Pluribus Technologies Inc.