Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/solimar-energy-limited-reaches-agreement-with-debe.shtmlSolimar Energy Limited reaches agreement with debentureholders
Solimar Energy Limited has reached an agreement with holders of debentures (Debentures) issued pursuant to the debenture
Edit page New page Hide edit links
Solimar Energy Limited has reached an agreement with holders of debentures (Debentures) issued pursuant to the debenture indenture dated June 26, 2012 (the "Debenture Indenture"). The principal outstanding under the Debentures is C$4.0 million.
After nearly one month of negotiations and further to the Company's press releases dated July 22 and August 2, 2013, the holders of Debentures have agreed to waive the event of default under the Debenture Indenture and direct the trustee under the Debenture Indenture to cancel the declaration that the outstanding principal and interest owing thereunder is immediately payable on the condition that the Debenture Indenture be amended and restated to provide, among other things, as follows:
