CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

RE:RE:RE:New Presentation has been posted

[Kherson]

Kherson wrote:

Kherson wrote:

rustyblades wrote: A new presentation has been posted
Canexus Presentation July5 2016

It looks as if we're almost out of the woods. It will take a few quarters before the situation is more predictable. It will be interesting to see what Q2 brings.

It would be nice if they could find a few nickels to buy some of the convert's at the market rate.  I don't own any but it would be a good way to reduce debt at less than par value and reduce interest expense. I doubt that the senior debt holders would allow them to do that.

Canexus is certainly not out of the woods! One only has to listen to the Conference Call to realize just how desperate the situation has now become. Canexus has alot banking on receiving the $25 million reverse termination fee, but the problem is that they do not have a legal leg to stand on.
The question to Ross as to what was in the notice from Superior that referred to the breach of the Agreement with Canexus got him so upset that he actually said two different things. First he said that he is not going to speculate on what his former employer thinks was breached, yet he turns around and does admit that Superior sent a notice stating that Canexus had breached the Agreement. But what is troubling at this stage of the conversation between Ross and Nelson is that Ross was clearly asked if the notice did not reference the alleged breached and he refused to answer that part of the question. So, the real question now is, was the breach of the Agreement by Canexus considered Material which led to the termination right by Superior?
The above is just one of many in the long list of smoke and mirrors by the management team of Canexus. Come August 11th, the BOD may have no choice but to ask for the resignation of their rattleheaded General Counsel because of his under estimation of his former employer Superior!
Kherson

 

Did Ross tell a lie in the Conference Call? Today's NR by Superior should be garnering some interest at the Alberta Securities Commission!
Kherson