ClearStream to pay interest on Senior Secured Debentures in kind

Dec 10, 2021

CALGARY, Alberta, Dec. 10, 2021 (GLOBE NEWSWIRE) -- ClearStream Energy Services Inc. (“ClearStream”) (TSX: CSM) is pleased to announce that Canso Investment Counsel Ltd., in its capacity as portfolio manager for and on behalf of certain accounts that it manages ("Canso"), and sole holder of its 8% senior secured debentures due March 23, 2026 (the “Senior Secured Debentures”), has agreed to accept the issuance of an additional 4,278 Senior Secured Debentures on December 31, 2021, 4,449 Senior Secured Debentures on June 30, 2022 and 4,627 Senior Secured Debentures on December 31, 2022 at a principal amount of $1,000 per Senior Secured Debenture in order to satisfy the interest that would otherwise become due and payable on such dates (the “Payment in Kind Transactions”).

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