The Limestone Boat Company Limited Announces Debentureholder Meeting to Consider Restructuring Proposal and Provides Update on Private Placement

Jun 20, 2023

COLLINGWOOD, ON / ACCESSWIRE / June 20, 2023 / The Limestone Boat Company Limited ("Limestone" or the "Company") (TSXV:BOAT, Financial) - has called for a meeting of holders (the "Debentureholder Meeting") of its 10% Convertible Subordinated Debentures due May 14, 2024 (the "Convertible Debentures") to be held July 18, 2023, to consider its previously-announced proposal to amend the terms of the Convertible Debentures to permit the Company to convert the outstanding principal and interest thereunder into common shares of the Company ("Common Shares") at a conversion price of $0.071 per Common Share, subject to the definitive terms and conditions described in the associated documentation (the "Proposed Restructuring"). Limestone intends to implement the Proposed Restructuring by way of an Extraordinary Resolution passed either by written instrument approved by the Holders of not less than 66 2/3% of the principal amount of the outstanding Convertible Debentures (the "Requisite Consents") or at the Debentureholder Meeting by holders of not less than 66 2/3% of the principal amount of the outstanding Convertible Debentures attending such Debentureholder Meeting.

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Mobile App 中文

Education

Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us ETF Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.