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BluMetric Delays Principal Repayment of Its Convertible Debentures
BluMetric Delays Principal Repayment of Its Convertible Debentures BluMetric Delay...
About this update from Blumetric Environmental Inc.
[{"type":"text","content":"\n\n\n\nBluMetric Delays Principal Repayment of Its Convertible Debentures\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBluMetric Delays Principal Repayment of Its Convertible Debentures\nCanada NewsWire\nOTTAWA, June 16, 2016\n\n\n\nOTTAWA, June 16, 2016 /CNW Telbec/ - BluMetric Environmental Inc. (TSX.V: BLM), an Ottawa-based cleantech company, announced that it will delay the principal repayment of its Convertible Debentures (Maturity Date June 27, 2016), and, in accordance with the terms of those Debentures, will pay the semi-annual instalment of interest accrued on the Debentures and falling due on the Maturity Date.  From the Maturity Date, the Debentures will bear interest at the default rate of 12% per annum until repayment in full of the principal and interest.\n\nIn the Company's press release dated May 30, 2016, the Company stated that it is actively engaging with an institution to replace the existing convertible debentures with another medium-term financing arrangement. Although the Company's negotiations have resulted in a letter of intent with the financial institution and continue to progress, BluMetric does not expect that the replacement financing will be in place prior to the Maturity Date of the Convertible Debentures.  \n\nFor additional information, please refer to the Company's filings at www.sedar.com.\n\nAbout BluMetricBluMetric Environmental Inc. is a diverse water, earth, and energy company providing solution-oriented consultation, design, products, and construction services to clients with complex environmental issues in more than 61 countries.  With our award-winning team of industry experts and technology, BluMetric provides the finest effective and sustainable solutions to environmental challenges.  BluMetric is a publicly traded Canadian company (TSX-V: BLM), headquartered in Ottawa, Ontario.  For more information, visit www.BluMetric.ca.\n\nForward-Looking Statements \n\nSome of the statements in this press release, including those relating to the Company's discussions with financial institutions, rep...