DionyMed Brands Inc. announced that GLAS USA LLC ("GLAS USA"), as administrative agent and GLAS America LLC ("GLAS America") as collateral agent under the Company's credit agreement dated January 16, 2019 (as amended, supplemented or otherwise modified from time to time, the "Credit Agreement"), 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 (the "Demand Notice"). GLAS America also concurrently provided the Company with a Notice of Intention to Enforce Security under section 244 of the Bankruptcy and Insolvency Act (Canada) (the "BIA Notice"). GLAS America will not have the right to enforce its security over the Company and its assets until the expiry of the 10-day period after the BIA Notice was sent unless the Company consents to an earlier enforcement.