Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

BRIEF-Stornoway Files For Creditor Protection Under The Ccaa

Published 2019-09-09, 09:45 a/m
© Reuters.  BRIEF-Stornoway Files For Creditor Protection Under The Ccaa

Sept 9 (Reuters) - Stornoway Diamond Corp SWY.TO :

* STORNOWAY FILES FOR CREDITOR PROTECTION UNDER THE CCAA

* STORNOWAY DIAMOND - CORP, UNITS APPLIED TO SUPERIOR COURT OF QUEBEC FOR PROTECTION UNDER CCAA TO RESTRUCTURE ITS BUSINESS AND FINANCIAL AFFAIRS

* STORNOWAY DIAMOND - ON SEPT 8, CO & UNITS ENTERED LETTER OF INTENT WITH CERTAIN SECURED CREDITORS UNDER BRIDGE FINANCING AGREEMENT

* STORNOWAY DIAMOND - UNDER LOI, PARTICIPATING SECURED CREDITORS CONFIRMED INTENTION TO ACQUIRE ALL OF ASSETS AND PROPERTIES OF CO & UNITS

* STORNOWAY DIAMOND - CO'S UNITS ENTERED WORKING CAPITAL FACILITY AGREEMENT WITH PARTICIPATING SECURED CREDITORS FOR WORKING CAPITAL FACILITY OF $20 MILLION

* STORNOWAY DIAMOND - WORKING CAPITAL FACILITY PROVIDES FINANCING, LIQUIDITY TO ENSURE RENARD MINE CONTINUES TO OPERATE IN UNINTERRUPTED MANNER

* STORNOWAY DIAMOND - INTEND TO CONTINUE TO OPERATE AND MANAGE BUSINESS IN ORDINARY COURSE, INCLUDING RENARD MINE

* STORNOWAY - CONTINUED DOWNWARD PRESSURE ON MARKET PRICE FOR ROUGH DIAMONDS CONTRIBUTED TO CO'S INABILITY TO GENERATE POSITIVE FREE CASH FLOW IN 2019

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.