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Crown Capital Announces Proposed Debenture Amendments and Default Waiver
Crown Capital Announces Proposed Debenture Amendments and Default Waiver Canada NewsWir...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\n Crown Capital Announces Proposed Debenture Amendments and Default Waiver\n \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\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Aug. 29, 2024\n \n\n /CNW/ - Crown Capital Partners Inc. (\"Crown\" or the \"Corporation\") (TSX: CRWN) today announced that it will seek the approval of the holders (the \"Debentureholders\") of its 10% unsecured subordinated debentures of the Corporation due\n \n December 31, 2024\n \n (the \"Debentures\") for a resolution (the \"Debentureholder Resolution\") at a special meeting of the Debentureholders to be held at the offices of the Corporation, 33 Yonge Street, Suite 901,\n \n Toronto, ON\n \n , M5E 1G4, on\n \n October 18, 2024\n \n at\n \n 10:00 a.m. (Eastern Time)\n \n (the \"Meeting\").\n \n\n If approved by Debentureholders at the Meeting, the Debentureholder Resolution would:\n \n\n\n authorize and approve certain amendments to the Corporation's amended and restated trust indenture dated\n \n June 30, 2023\n \n between the Corporation and TSX Trust Company (the \"Indenture\") to: (i) extend the maturity date of the Debentures from December 31, 2024 to December 31, 2026; (ii) amend the interest rate on the Debentures from 10% to 11% effective a minimum of five trading days following the approval of the Debentureholder Resolution and from 11% to 12% effective as of\n \n December 31, 2025\n \n ; and (iii) amend the interest payment dates from occurring semi-annually on\n \n June 30\n \n and\n \n December 31\n \n of each year to occurring annually on\n \n December 31\n \n of each year, with the next payment to occur effective\n \n December 31, 2025\n \n for the interest accrued on the Debentures from\n \n June 30, 2024\n \n up to, but excluding,\n \n December 31, 2025\n \n ; and\n \n\n waive the default by the Corporation under the Indenture for the failure to make the interest payment on the Debentures (the \"Deferred Interest Payment\") due on\n \n June 30, 2024\n \n (the \"Default Waiver\"), subject to the requirem...