IC Capitalight is ready to start the offer with the expiration of Stone Investment Group Limited’s offer or with the announcement of the rights to withdraw
Offer price of $ 800 for bond
No minimum tender conditions
Capitallight has pledged a credit line of $ 5,250,000 to finance the purchase of bonds by Stone Investment Group Limited
TORONTO, ON / ACCESSWIRE / 23 December 2021 / IC Capitalight Corp. (“”Capitallight“Oh”Company“) Announced today its intention to propose a new proposal (“New offer“) Purchase all existing debentures (“Bonds“) Of Stone Investment Group Limited (“SIGL“) In full cash consideration of $ 800 per bond. Capitalight will start the new offer only when and if SIGL announces its own offer currently pending for the bonds.SIGL proposal)) Finished or, alternatively, after SIGL issues a public statement confirming that bondholders who have submitted an offer for a SIGL offer may withdraw their bonds from the SIGL offer.
Capitallight’s new offer will be at the same price as Capitalite’s original offer that expired on December 21, 2021. The new bid will not be subject to minimum tender conditions.
All debentures deposited in Capitalite’s original offer have been received and Capitalite has deposited the full consideration for the purchase due to the said bondholders in accordance with the terms of the offer. Bonds holders who submitted tenders for the SIGL bid missed the opportunity to sell their bonds at $ 800 per capital under this previous bid.
The SIGL offer initially began on November 30, 2021 at a price of $ 670 per bond. Despite two increases to the SIGL bid to match Capitalight’s higher bid, SIGL was forced to double the SIGL bid without taking bonds. Currently, SIGL’s offer is expected to expire on December 28, 2021, the maturity date of the bonds, although SIGL has retained the right to further extend its offer. Based on the number of bonds purchased by Capitalite in its previous bid, together with the bonds already owned by Capitalite and its affiliates, and given other bonds known to Capitalite not to be submitted for SIGL, Capitalite believes it is not possible for SIGL to obtain the terms of the tender. debt.
Capitalite calls on SIGL to immediately terminate the SIGL offer or to announce that bondholders offered in the SIGL offer may withdraw their bonds from the SIGL offer. SIGL’s failure to do so would indicate that SIGL is using the SIGL offer to protect itself from bondholders, rather than for the purpose of providing holders with an opportunity to sell their bonds.
Any broker or bondholder who has questions regarding the new offer is advised to contact the information agent, Carson Proxy Advisors, at toll-free North America: 1-800-530-5189; Outside North America – Collection: 416-751-2066 or email: email@example.com
Capitallight enters a credit line
Capitallight also announced today that it has entered into a credit agreement (“Credit agreementEstablish a non-rolling credit lineLine of credit“) With FMMC Private Yield Fund LP II (“FMMC)) As a lender in the amount of up to $ 5,250,000 at an interest rate of 12.75% per annum, subject to certain conditions. At SIGL, in which case the credit line will end within 36 months.
CapitalLight attracted $ 482,065.23 as an initial down payment under the credit facility and issued a share purchase order (“to justify“) To the exercisable FMMC for a total of 1,000,000 ordinary shares of Capitalight (“stock“) At an exercise price of $ 0.08 per share. The warrant has a term of five years. The credit agreement stipulates that in any subsequent down payment within the framework of the credit facility, Capitalight will issue FMMC additional options to purchase the number of shares in Capital (“stock“) Is equal to a multiple of 1.1 times the dollar amount of the down payment, up to a cumulative 5,500,000 shares that can be issued under all the options issued under the credit line. Each option will be priced at the minimum price allowed by the Canadian Stock Exchange. The credit line is guaranteed by All current personal property and after it has been purchased by Capitalite and certain guarantors and includes certain liabilities, presentations and acceptable liability.Copy of the credit line will be submitted under the Capitalite profile in SEDAR at www.sedar.com.
Information about IC Capitalight Corp.
Capitalight operates as a trading bank pursuing value-based investment opportunities through a portfolio of companies, securities and mineral assets. Investments in securities consist mainly of SIGL bonds. The company’s business operations include Capitalight Research Inc., a wholly owned subsidiary that publishes proprietary research reports focusing on subscriptions focusing on the gold, silver and critical metals sectors, Canadian preference shares, bonds and economics. The mineral search business consists of the Blue Lake Cu-Ni-Pt property -Pd near Schefferville, Quebec.For more information on Capitallight, visit http://www.capitalight.co Or contact us at: firstname.lastname@example.org
A warning statement honoring the new proposal
Capitallight has not yet started the new offer mentioned above. The commencement of the new offer, and the conditions under which the new offer will be submitted, including the price, will depend on whether Capitallight will determine, in its sole discretion, whether new information has a material adverse effect on the value of the bonds. Revealed after the date of this post. Therefore, it is not possible to guarantee that the new offer will be made or that the final terms of the new offer will be as detailed in this news release. The offer documents will contain important information about the new offer and should be read in full by the bondholders. This notice is for informational purposes only and does not form or form part of any offer or invitation to purchase, purchase, subscribe, sell otherwise, dispose of or issue, or any other solicitation of any offer to sell, dispose of otherwise, issue, purchase, purchase or subscribe to any Securities.
This news release includes certain “forward-looking statements” in the context of the relevant Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that may cause results, performance, prospects and actual opportunities to be materially different from those expressed or implied by such forward-looking statements.
source: IC Capitalight Corp.
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