Lightstream Resources Ltd. LSTMF

Energy Oil & Gas E&P

"Lightstream Resources Ltd is engaged in the exploration and development of oil and natural gas in Western Canada. Its operating areas include Southeastern Saskatchewan, Central Alberta, and North-Central Alberta."

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Lightstream Resources Ltd. > Recapitalization question for Pancho2

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Comment by Oldfart74on Apr 23, 2018 11:16am

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Post# 27926172

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

Pancho2 wrote: Remember what was sold to the New Company as per Credit Bid was
not the old Shares, but the Debt

" In accordance with the terms of the Support Agreement, the members of the Ad Hoc Committee submitted a credit bid (the “Secured Credit Bid”) for the full amount of the claims outstanding in respect of the Secured Notes and debt in priority to the Secured Notes"

The Old Shares were transferred to the New Company

In actual fact, the exact opposite occurred. Every asset owned by the company was sold to the creditors in exchange for the debt.

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