Bullboard - Stock Discussion Forum Bellatrix Exploration Ltd (Canada) BXEFF

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Bellatrix Exploration Ltd is a Canada-based oil and gas company, engaged in the exploration, acquisition, development, and production of oil and natural gas reserves in the provinces of Alberta, British Columbia, and Saskatchewan. It primarily focuses on developing its two core resource plays, the Cardium and the Notikewin/Falher intervals in Western Canada. The Notikewin/Falher in Alberta's... see more

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Bellatrix Exploration Ltd (Canada) > Halt of Debentures

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Post by Just1Question on Apr 05, 2019 1:29pm

Halt of Debentures

Anyone have any guesses as to what news on the debentures has created a halt on them?

I still think the shareholders that choose to hold on to the shareholder vote would want to vote against giving away 83.5% of the company to reduce 25% of the debt. Yes it buys time, but LNG exports are further out than the bought time. What do they give away to satisfy the other 3/4's of the debt that is still out there?

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Comment by Don2018 on Apr 05, 2019 2:56pm

The debentures shouldn't be halted unless the common shares are also halted, as they are now tied toegther. So something appears to be wrong, or BXE is afraid the debentures will be sold down so hard that it drags the commons down as well, putting the whole deal in jeopardy. Just another fcked up mess, nothing new, IMO

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Comment by Just1Question on Apr 05, 2019 4:05pm

See Press release link https://www.marketwatch.com/press-release/iiroc-trading-halt---bxer-bxedb-2016-08-09

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Comment by Just1Question on Apr 05, 2019 4:09pm

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Comment by Just1Question on Apr 05, 2019 4:12pm

Heres a clear text copy of the information my trading house provided: Canada Newswire IIROC Trading Halt - BXE.DB 04/05/2019 12:43:00 PM TORONTO, April 5, 2019 /CNW/ - The following issues have been halted by IIROC: Company: Bellatrix Exploration Ltd. TSX Symbol: BXE.DB Reason: Pending News Halt Time (ET): 12:37 PM IIROC can make a decision to impose a temporary suspension ...more

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Comment by Straite on Apr 05, 2019 5:24pm

Either they forgot to put Friday's news on the bxe.db newsfeed as well since it affects it also or there is some new information. If they forgot and bxe.db jumps higher after the news, that would be quite a case of inefficient markets.

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Comment by Don2018 on Apr 05, 2019 5:42pm

I wonder what kind of "news". Can't see how it could be good news.

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Comment by Straite on Apr 05, 2019 5:51pm

Most likely, they just forgot to publish the recapitalization news for bxe.db and should have. It is not impossible we see bxe.db trading above 80$ next week... or maybe not..

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Comment by honeystivbators on Apr 05, 2019 7:11pm

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Comment by black4444 on Apr 05, 2019 7:39pm

Could this be something? The company shall have the right, on or prior to the effective date, to repay the convertible debentures with cash from proceeds of one or more equity issuances for up to 32.5 per cent of the aggregate issued and outstanding common shares of the company upon implementation of the recapitalization transaction, and, to the extent such equity issuances are for less than ...more

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