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Energy Fuels Announces Proposal to Amend the Terms of its Floating-Rate Convertible Unsecured Subordinated Debentures
Energy Fuels Announces Proposal to Amend the Terms of its Floating-Rate Convertible Unsecu...
About this update from Energy Fuels Inc.
[{"type":"text","content":"\n\n\n\nEnergy Fuels Announces Proposal to Amend the Terms of its Floating-Rate Convertible Unsecured Subordinated 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\nEnergy Fuels Announces Proposal to Amend the Terms of its Floating-Rate Convertible Unsecured Subordinated Debentures\nCanada NewsWire\nLAKEWOOD, CO, July 11, 2016\n\n\n\n\n\n\n\nLAKEWOOD, CO, July 11, 2016 /CNW/ - Energy Fuels Inc. (NYSE MKT: UUUU; TSX: EFR) (\"Energy Fuels\" or the \"Company\"), a leading producer of uranium in the United States, is pleased to announce that it will seek the approval of the holders (the \"Debentureholders\") of its Floating-Rate Convertible Unsecured Subordinated Debentures (the \"Debentures\") to amend the terms of the Debentures at a meeting of the Debentureholders to be held on August 4, 2016 (the \"Meeting\").  The Company has filed a Notice of Meeting and Management Information Circular (the \"Circular\") on the System for Electronic Document Analysis and Retrieval (\"SEDAR\") describing the proposed amendments to the Debentures (the \"Amendments\") and management's and the board of directors' recommendation that Debentureholders approve the Amendments.\n\nThe proposed Amendments include the following general terms, which are more fully described in the Circular:\n\n\nExtend the maturity date of the Debentures from June 30, 2017 to December 31, 2020; \nReduce the conversion price of the Debentures from Cdn$15.00 to Cdn$4.15 per common share of the Company; \nAdd a redemption provision that enables the Company to redeem the Debentures upon providing not less than 30-days' notice, in cash, in whole or in part, at any time after June 30, 2019, but prior to maturity, at a price of 101% of the aggregate principal amount redeemed; \nAdd a right (the \"Put Right\") in favor of each Debentureholder to enable the Debentureholder to require the Company to purchase, for cash, on June 30, 2017 (the current maturity date) up to 20% of the Debentures held by the Debentureholder at a price equal to 100% of the principal amount purchased; \nProvide a consent fee to e...