Nashville, Tennessee and Vancouver, British Columbia--(Newsfile Corp. - July 6, 2023) - Alpine Summit Energy Partners, Inc. (TSXV: ALPS.U) (NASDAQ: ALPS) and certain affiliates and related companies ("Alpine Summit", the "Company", or the "Debtors") today announced that, after evaluating a variety of strategic alternatives, it has filed for voluntary chapter 11 relief in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division (the "Bankruptcy Court") and intends to conduct a sale of its assets pursuant to Section 363 of the U.S. Bankruptcy Code. The Company entered Chapter 11 with a commitment for $15.5 million in debtor-in-possession ("DIP") financing, provided by its existing bank group, to support its operations during the sale and reorganization process (the "Chapter 11 Process"). The Debtors have also filed various "first day" motions with the Bankruptcy Court, providing customary relief that will enable them to continue operating in bankruptcy without meaningfully disrupting their normal course of operations.

VANCOUVER, BC, July 6, 2023 /CNW/ - The following issues have been halted by CIRO