Feronia Announces Amendments to 2012 Debentures
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 07/19/17 -- Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE: FRN)(TSX VENTURE: FRN.DB) today announces that it has obtained the consent by extraordinary resolution (the "Consent") of the holders of its 2012 12% convertible unsecured subordinated debentures (the "Debentures") to certain amendments (the "Amendments") to the trust indenture entered into between the Company and TSX Trust dated July 24, 2012, as amended and supplemented from time to time (the "Trust Indenture").
The Amendments include reducing the conversion price of the Debentures to $0.275 per share, extending the maturity date until July 24, 2022 and adding a provision that will further adjust the conversion price and effective rate of interest of the Debentures if a subsequent series of debentures or other debt is issued with more favourable terms on or before December 31, 2017. The Company has agreed to pay certain investment advisors a solicitation fee equal to 5% of the aggregate principal amount of Debentures represented by the Consent.
The Amendments are subject to the approval of the TSX Venture Exchange.
About Feronia Inc.
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "anticipates", "plans", "proposes", "estimates", "intends", "expects", "believes", "may" and "will". There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others: risks related to foreign operations (including various political, economic and other risks and uncertainties), the interpretation and implementation of the "Loi Portant Principes Fondamentaux Relatifs A L'Agriculture", termination or non-renewal of concession rights or expropriation of property rights, political instability and bureaucracy, limited operating history, lack of profitability, lack of infrastructure in the DRC, high inflation rates, limited availability of debt financing in the DRC, fluctuations in currency exchange rates, competition from other businesses, reliance on various factors (including local labour, importation of machinery and other key items and business relationships), the Company's reliance on one major customer, lower productivity at the Company's plantations and arable farming operations, risks related to the agricultural industry (including adverse weather conditions, shifting weather patterns, and crop failure due to infestations), a shift in commodity trends and demands, vulnerability to fluctuations in the world market, the lack of availability of qualified management personnel and stock market volatility.
Details of the risk factors relating to Feronia and its business are discussed under the heading "Risks and Uncertainties" in Feronia's Management's discussion and Analysis for the year ended December 31, 2016, a copy of which is available on the Company's SEDAR profile at . Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Xavier de Carniere
Chief Executive Officer
Feronia Inc.
44 (0)7468 697 658
Paul Dulieu
Director of Communications & Corporate Development
Feronia Inc.
44 (0)7554 521421
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Unternehmensinformation / Kurzprofil:
Datum: 19.07.2017 - 20:00 Uhr
Sprache: Deutsch
News-ID 553055
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Farming
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