Business
FLINT Announces Completion of Recapitalization
CALGARY, Alberta, Sept. 23, 2025 (GLOBE NEWSWIRE) -- FLINT Corp. (" FLINT " or the " Compan...
About this update from Flint Corp
[{"type":"text","content":"FLINT Announces Completion of Recapitalization\n\n\n\n CALGARY, Alberta, Sept. 23, 2025 (GLOBE NEWSWIRE) -- FLINT Corp. (\"\n \n FLINT\n \n \" or the \"\n \n Company\n \n \") (TSX: FLNT) is pleased to announce the completion of its recapitalization transaction (the \"\n \n Recapitalization\n \n \"), as described in the Company's management information circular dated August 20, 2025. The Recapitalization was implemented pursuant to a court-approved plan of arrangement (\"\n \n Plan of Arrangement\n \n \") under the\n \n Business Corporations Act\n \n (Alberta) (the \"\n \n ABCA\n \n \").\n \n\n Pursuant to the Recapitalization, the common shares in the capital of the Company (the \"\n \n Common Shares\n \n \") were consolidated (the \"\n \n Consolidation\n \n \") at a ratio of one post-consolidation Common Share for every 40 pre-consolidation Common Shares. Immediately following the Consolidation, (i) all of the senior secured notes of the Company in the aggregate principal amount of approximately $135,335,053, together with all interest accrued from and after June 30, 2025 were exchanged for approximately 99,001,116 newly issued Common Shares; (ii) all accrued but unpaid dividends in respect of the Company's preferred shares were extinguished and the preferred shares were subsequently exchanged for approximately 8,250,093 newly issued Common Shares. The post-Recapitalization Common Shares will begin trading on the Toronto Stock Exchange on a consolidated basis two to three business days following closing and TSX acceptance of documents and will continue to trade under the symbol “FLNT”. New CUSIP and ISIN numbers have been assigned to the Common Shares following the Consolidation. No action is required by beneficial holders to receive post-Consolidation Common Shares in connection with the Consolidation. Beneficial holders who hold their Common Shares through intermediaries (e.g., a broker, bank, investment dealer or other financial institution) and who have questions regarding how the Consolidation will be processed should contact their intermediaries with respect to the Consolidation. Registered holders of Common Shares will not need to complete and sign a letter of transmittal, a direct registration advice representing their post-Consolidation Common Shares will automatically be issued to such registered shareho...