Lightstream Resources Ltd. LSTMF

RE:RE:RE:RE:RE:RE:RE:Recapitalization question for Pancho2

[Pancho2]

I too, am still here and still got my shares.

Nothing changed and nice to see you guys still hanging in there.

To recap.

Excerpts

On July 12, 2016

LTS entered into a restructuring support agreement (the "Support Agreement") with members of the Ad Hoc Committee.

Existing Shareholders will hold a total of 2.25% of the then-outstanding Common Shares and existing Shareholders will also receive Series 2 warrants equal to 7.75% of the total number of issued Common Shares (the Series 2 warrants will be exercisable for a period of five years following the effective date of the CBCA Plan Transaction and have a sliding scale exercise price between CDN$12.88 and CDN$14.96),

Sept 19,2016

As a result of the failure to reach such a settlement, in accordance with the terms of the Support Agreement, the Company is required to discontinue our currently contemplated plan of arrangement under the Canada Business Corporations Act (the "CBCA Arrangement"), commence proceedings under the Companies' Creditors Arrangement Act (the "CCAA") and seek an initial order under the CCAA for the purposes of implementing a sale transaction under the CCAA (a "CCAA Sale Transaction") by way of a credit bid by the Secured Noteholders or other form of transaction within the CCAA proceedings acceptable to both the Company and the Ad Hoc Committee, all subject to the terms and conditions of the Support Agreement

Calgary, Alberta – November 22, 2016

– Lightstream Resources Ltd. (the "Company" or "Lightstream") announces that the sale procedures under the Companies’ Creditors Arrangement Act (“CCAA”) have concluded and that the credit bid (“Credit Bid”) submitted by the ad hoc committee of holders of approximately 91.5% of the Company’s 9.875% second lien secured notes due 2019 is the successful bid. 

Calgary, Alberta – December 8, 2016 –

Lightstream Resources Ltd. (the "Company" or "Lightstream") announces that the Court of Queen’s Bench of Alberta has granted an approval and vesting order (“Approval and Vesting Order”) for the previously announced purchase and sale of substantially all of the assets and business of Lightstream (the “Sale Transaction”)

We know that the Support Agreement ( Sale Transaction) was passed and the Old Shareholders
should get what was agreed to. Yes, the Management is taking its sweet time.

The court-appointed Monitor has been granted enhanced powers to allow it to assist with the wind-down of the Company’s affairs.

Good Luck.