BCE Inc v 1976 Debentureholders

Dye & Durham announces actions to improve balance sheet flexibility and reduces convertible debt

Retrieved on: 
Friday, October 20, 2023
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TORONTO, Oct. 20, 2023 /CNW/ - Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), one of the world's largest providers of cloud-based legal practice management software designed to make managing a law firm, organizing cases, and collaborating with clients easy, today announced a series of actions to improve its balance sheet flexibility and reduce its convertible debt.

Key Points: 
  • TORONTO, Oct. 20, 2023 /CNW/ - Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), one of the world's largest providers of cloud-based legal practice management software designed to make managing a law firm, organizing cases, and collaborating with clients easy, today announced a series of actions to improve its balance sheet flexibility and reduce its convertible debt.
  • "By refinancing a sizeable portion of our convertible debt on favourable terms, we are taking a meaningful step to deleverage our balance sheet and improve our long-term capital structure," said Dye & Durham CEO Matthew Proud.
  • "The actions we are taking today will, upon completion, reduce the balance of our original convertible debentures by $95 million, decrease our overall convertible debt by $10 million and give us greater flexibility to refinance and strengthen our balance sheet going forward as we continue to grow Dye & Durham into a global legal technology leader."
  • This press release is neither an offer to purchase nor a solicitation of an offer to sell any Original Debentures.

Red White & Bloom and Aleafia Health Execute Binding Letter Agreement for Business Combination

Retrieved on: 
Wednesday, June 7, 2023
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Key Points: 
  • (1)(2)(3)(4)
    TORONTO, June 07, 2023 (GLOBE NEWSWIRE) -- Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) and Aleafia Health Inc. (TSX: AH and OTCQB: ALEAF) (“Aleafia”) are pleased to announce that the Company and Aleafia have entered into a binding letter agreement on June 6, 2023 (the “Letter Agreement”) whereby the Company has agreed to acquire Aleafia and its subsidiaries in a business combination transaction (the “Proposed Transaction”).
  • (1)
    A copy of the Letter Agreement will be filed on Aleafia and RWB’s SEDAR profiles at www.sedar.com .
  • The Letter Agreement contains, and the arrangement agreement will continue to contain, standard non-solicitation and superior proposal provisions and a break fee of C$2 million.
  • Pursuant to the Letter Agreement, within 30 days of the Letter Agreement, RWB and Aleafia will negotiate in good faith a credit facility to be provided by RWB to Aleafia of $17.5 million (the “RWB Credit Facility”).

Allied Announces Successful Consent Solicitation and Cancellation of Debentureholder Meeting for Series D-I Debentures

Retrieved on: 
Monday, May 29, 2023
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TORONTO, May 29, 2023 (GLOBE NEWSWIRE) -- Allied Properties REIT (“Allied”) (TSX:AP.UN) announced today that it has solicited consents and proxies from holders (“Debentureholders”) of its 3.636% Series C Senior Unsecured Debentures due April 21, 2025 (“Series C Debentures”), 3.394% Series D Senior Unsecured Debentures due August 15, 2029 (“Series D Debentures”), 3.113% Series E Senior Unsecured Debentures due April 8, 2027 (“Series E Debentures”), 3.117% Series F Senior Unsecured Debentures due February 21, 2030 (“Series F Debentures”), 3.131% Series G Senior Unsecured Debentures due May 15, 2028 (“Series G Debentures”), 1.726% Series H Senior Unsecured Debentures due February 12, 2026 (“Series H Debentures”) and 3.095% Series I Senior Unsecured Debentures due February 6, 2032 (“Series I Debentures” and, together with the Series C Debentures, Series D Debentures, Series E Debentures, Series F Debentures, Series G Debentures and Series H Debentures, collectively, the “Debentures” and each, a “Series”) in order to approve the proposed amendments (the “Debenture Amendments”) to the trust indenture governing the Debentures between Allied and Computershare Trust Company of Canada, as debenture trustee (the “Debenture Trustee”), dated as of May 13, 2015 (as amended or supplemented from time to time, the “Indenture”).

Key Points: 
  • TORONTO, May 29, 2023 (GLOBE NEWSWIRE) -- Allied Properties REIT (“Allied”) (TSX:AP.UN) announced today that it has solicited consents and proxies from holders (“Debentureholders”) of its 3.636% Series C Senior Unsecured Debentures due April 21, 2025 (“Series C Debentures”), 3.394% Series D Senior Unsecured Debentures due August 15, 2029 (“Series D Debentures”), 3.113% Series E Senior Unsecured Debentures due April 8, 2027 (“Series E Debentures”), 3.117% Series F Senior Unsecured Debentures due February 21, 2030 (“Series F Debentures”), 3.131% Series G Senior Unsecured Debentures due May 15, 2028 (“Series G Debentures”), 1.726% Series H Senior Unsecured Debentures due February 12, 2026 (“Series H Debentures”) and 3.095% Series I Senior Unsecured Debentures due February 6, 2032 (“Series I Debentures” and, together with the Series C Debentures, Series D Debentures, Series E Debentures, Series F Debentures, Series G Debentures and Series H Debentures, collectively, the “Debentures” and each, a “Series”) in order to approve the proposed amendments (the “Debenture Amendments”) to the trust indenture governing the Debentures between Allied and Computershare Trust Company of Canada, as debenture trustee (the “Debenture Trustee”), dated as of May 13, 2015 (as amended or supplemented from time to time, the “Indenture”).
  • Debentureholders representing over 66 2/3% of the aggregate principal amount of each of the Series D Debentures, Series E Debentures, Series F Debentures, Series G Debentures, Series H Debentures and Series I Debentures have provided consent in favour of an extraordinary resolution approving the Debenture Amendments.
  • The meeting of Debentureholders scheduled for June 1, 2023, will be cancelled with respect to all such Series.
  • Subject to the satisfaction or waiver of certain payment conditions described in the Solicitation Statement, Allied will pay a consent fee of $0.10 for each $1,000 principal amount of Debentures (the “Consent Fee”) to each eligible Debentureholder who responded to the consent solicitation and provided timely and valid consent and voting instructions.

Icanic Announces Closing of Recapitalization Transaction and C$1.3 Million Private Placement

Retrieved on: 
Monday, September 12, 2022
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The Warrants are governed by a warrant indenture (the Warrant Indenture) entered into as of the Effective Date between Icanic and Odyssey, as warrant agent.

Key Points: 
  • The Warrants are governed by a warrant indenture (the Warrant Indenture) entered into as of the Effective Date between Icanic and Odyssey, as warrant agent.
  • The Company is also pleased to announce the closing of its previously announced private placement pursuant to which certain insiders and strategic investors of Icanic were issued New Secured Debentures in the aggregate principal amount of C$1,300,000 (the Additional Secured Debentures).
  • The Warrants are governed by a warrant indenture entered into as of September 8, 2022 between Icanic and Odyssey, as Warrant agent.
  • This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities.

Icanic Obtains Interim Court Order and Announces Meeting Details in Connection with its Recapitalization Transaction

Retrieved on: 
Wednesday, July 13, 2022
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The Plan of Arrangement is proposed to be effected through an arrangement (the Arrangement) under theBritish Columbia Business Corporations Act.

Key Points: 
  • The Plan of Arrangement is proposed to be effected through an arrangement (the Arrangement) under theBritish Columbia Business Corporations Act.
  • "We are pleased with the order issued by the Supreme Court of British Columbia on July 8th.
  • If the Recapitalization Transaction does not obtain the required support from the Secured Debentureholders, the Recapitalization Transaction will be implemented through proceedings under the CCAA.
  • This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities.

Stem Holdings Announces Convertible Debenture Amendment Terms

Retrieved on: 
Tuesday, June 7, 2022
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BOCA RATON, Fla., June 07, 2022 (GLOBE NEWSWIRE) -- Stem Holdings, Inc. (OTCQX: STMH CSE: STEM) (the Company or Stem), a leading vertically-integrated cannabis and hemp company with state-of-the-art cultivation, processing, extraction, retail, and distribution operations, announces that the Company is seeking the approval of the holders (the Debentureholders) of the C$3,687,050 principal amount of convertible debentures (Convertible Debentures) to reprice the Convertible Debentures.

Key Points: 
  • BOCA RATON, Fla., June 07, 2022 (GLOBE NEWSWIRE) -- Stem Holdings, Inc. (OTCQX: STMH CSE: STEM) (the Company or Stem), a leading vertically-integrated cannabis and hemp company with state-of-the-art cultivation, processing, extraction, retail, and distribution operations, announces that the Company is seeking the approval of the holders (the Debentureholders) of the C$3,687,050 principal amount of convertible debentures (Convertible Debentures) to reprice the Convertible Debentures.
  • The repricing of Convertible Debentures, the Debenture Amendments will be implemented pursuant to the terms of supplemental indentures entered into between the Company and Olympia Trust Company dated as of the date hereof (the Supplemental Indentures).
  • In addition, the Debenture Amendment, if approved, will provide for the payment of 5% of the principal amount upon the completion of the Debenture Amendments.
  • Stem does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Aleafia Health Announces Update Regarding Agreement to Amend Convertible Debentures and Equity Financing

Retrieved on: 
Thursday, June 2, 2022
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We are delighted that so many Debentureholders have already expressed support for the debenture amendments by delivering Support Agreements, said Tricia Symmes, CEO.

Key Points: 
  • We are delighted that so many Debentureholders have already expressed support for the debenture amendments by delivering Support Agreements, said Tricia Symmes, CEO.
  • The Debenture Amendments, coupled with the $5.6 million in equity financing, are part of an ongoing transformation of our balance sheet.
  • The Convertible Debentures which were to mature and be repaid by June 27, 2022, will be split into three series of equivalent size maturing in years 2024, 2026, and 2028.
  • The equity financing in conjunction with our revolving receivables facility provides us liquidity to continue driving revenue growth, said Matt Sale, CFO.

Aleafia Health Announces Agreement to Amend Convertible Debentures and Equity Financing of $5.6 Million

Retrieved on: 
Thursday, May 12, 2022
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The amendment of the Convertible Debentures and the Private Placement are conditional on terms further described below.

Key Points: 
  • The amendment of the Convertible Debentures and the Private Placement are conditional on terms further described below.
  • For our equity investors, we fully expect they will benefit from the appreciation in the value of the Company as we execute our strategy.
  • The conversion price will be significantly reduced from the existing $1.47, to $0.25 for the 2024 Debentures, $0.30 for the 2026 Debentures, and $0.35 for the 2028 Debentures.
  • The New Convertible Debentures will be granted security against certain assets of the Company, but will be fully subordinated to the Company's existing senior secured debt.

Chemistree to Invest up to $200,000 in Pure-Play Renewable Energy

Retrieved on: 
Thursday, December 2, 2021
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ReVolve's business model is based on identifying greenfield project development opportunities focusing on strong renewable resource areas, proximity / availability of capacity on the local transmission network as well as environmental considerations.

Key Points: 
  • ReVolve's business model is based on identifying greenfield project development opportunities focusing on strong renewable resource areas, proximity / availability of capacity on the local transmission network as well as environmental considerations.
  • ReVolve then adopts an asset monetisation strategy, whereby it looks to sell development rights to its projects to other Utilities, Independent Power Producers (IPP's) or Institutional Investors active in the renewable energy sector.
  • ReVolve is targeting a development pipeline of at least 5GW in the region within the next three years.
  • The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

Spectra7 Announces TSXV Conditional Approval of Proposed Debenture Amendments

Retrieved on: 
Tuesday, November 16, 2021
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If the Proposed Amendment is enacted, the conversion price will remain at the current price of $2.50 per common share until maturity.

Key Points: 
  • If the Proposed Amendment is enacted, the conversion price will remain at the current price of $2.50 per common share until maturity.
  • The Proposed Amendment has been conditionally accepted by the TSXV, but remains subject to final approval by the TSXV and the passing of an extraordinary resolution of the holders of the Debentures pursuant to the terms of the indenture governing the Debentures.
  • The Company shall issue a further release once the Proposed Amendment has been finalized.
  • Spectra7 is based in San Jose, California with a design center in Cork, Ireland and technical support location in Dongguan, China.