July 28 (Reuters) - Lightstream Resources Ltd LTS.TO
* Lightstream Enters Into Arrangement Agreement In Connection With Its Proposed Recapitalization Transaction
* Terms Of Arrangement Agreement And Arrangement Unanimously Approved By Board Of Directors Of Lightstream
* Continues To Work Towards Entering Into A New $400 Million Revolving Credit Facility Concurrently With Completion Of Arrangement
* Existing Shares To Be Consolidated And Exchanged; Existing Holders Of Co's Shares To Hold Approximately 2.3 Million New Shares Of Co
* Company's 9.875% Second Lien Secured Notes Due June 15, 2019 Will Be Converted Or Exchanged Into About 95 Million Shares
* Existing Holders Of Co's Common Shares To Also Hold A Total Of About 7.8 Million Series 2 Warrants To Purchase New Common Shares Source text for Eikon: ID:nFWN1AE1M6 Further company coverage: LTS.TO