Brief Summary BRIEF-Bellatrix Announces Strategic Process And A Court-Supervised Restructuring Proceeding
2019-10-02 11:41:54 AM ET (Reuters)
Oct 2 (Reuters) - Bellatrix Exploration Ltd:
* BELLATRIX ANNOUNCES STRATEGIC PROCESS AND A COURT-SUPERVISED RESTRUCTURING PROCEEDING
* BELLATRIX EXPLORATION LTD - STRATEGIC PROCESS WILL INCLUDE TRANSACTIONS INVOLVING SALE OF ALL OR A PORTION OF BUSINESS AND ASSETS OR SHARES OF COMPANY
* BELLATRIX EXPLORATION LTD - INTENDS TO EXPLORE MARKET INTEREST WITH A RANGE OF POTENTIAL PARTIES
* BELLATRIX EXPLORATION - HAS DETERMINED IT IS IN BEST INTERESTS OF CO TO IMPLEMENT STRATEGIC PROCESS THROUGH COURT-SUPERVISED RESTRUCTURING PROCEEDING
* BELLATRIX EXPLORATION LTD - HAS OBTAINED US$15 MILLION OF INTERIM FINANCING FROM CERTAIN HOLDERS OF ITS SECURED NOTES
* BELLATRIX EXPLORATION - STAY OF PROCEEDINGS HAS BEEN GRANTED IN RESPECT OF CO TO ALLOW CO TO CONTINUE TO OPERATE ITS BUSINESS WITHOUT DISRUPTION
* BELLATRIX EXPLORATION - REMAINS ENGAGED IN DISCUSSIONS WITH SOME STAKEHOLDERS REGARDING POTENTIAL STRATEGIC & RESTRUCTURING ALT ERNATIVES
* BELLATRIX EXPLORATION LTD - INTENDS TO CONTINUE TO PAY EMPLOYEES FOR SERVICES RENDERED DURING CCAA PROCEEDINGS
* BELLATRIX EXPLORATION - INTENDS TO PAY SUPPLIERS FOR GOODS & SERVICES PROVIDED TO CO FOLLOWING COMMENCEMENT OF CCAA PROCEEDINGS Source text for Eikon: Further company coverage: