The Montreal-based firm stated that without an immediate injection of new capital or a definitive strategic transaction, its ability to maintain day-to-day operations remains in grave doubt. While the board has initiated a formal review of alternatives to stabilize the balance sheet, there is no guarantee that any viable path forward will emerge from the process.

Investors are facing the prospect of significant value erosion should these efforts fail. The company’s market performance reflects this volatility, with shares closing at 6 Canadian cents on Wednesday. This downward spiral highlights the intense pressure on the business model as it struggles to reconcile its debt obligations with its shrinking market footprint.