DionyMed Brands Inc. announced that GLAS USA LLC, as administrative agent, and GLAS America LLC, as collateral agent, under the Company’s credit agreement dated January 16, 2019 provided the Company with notice of default under the Credit Agreement and demand for immediate payment of the amount of USD 24,810,682.80 plus any additional interest, fees and expenses and that GLAS America served the Company with a petition to the Supreme Court of British Columbia seeking the appointment of a receiver over all of the Company’s property and assets. DionyMed Brands Inc. announced that the Company’s four directors, being Susan Watt, David Kerr, Brett Moyer and Stephen Dineley, each independent directors, have advised the Company that they intend to resign effective upon the appointment of the receiver.