Lightstream Resources Ltd. LSTMF

1.3 Billion Deal

[BluSky23]

845 for secured debt, 242 for current liability, and 234 for revolving credit facility = 1.321 billion. Unsecured got nothing as CCAA was not allowed to make this determination. Since the unsecured got nothing, likely drop the Oppression Litigation in exchange for equity on previous recap. This would be constituted as approval of plan at requisite levels by unsecured as defined on page 41 of circular. Just my 2 cents from doing homework...do your own DD.

[BluSky23]

I you want to get really cute, the 5% GST GST recap is worth about 75 million, minus cash in hand of 45 million is 30, which gives you exactly 1.35B.

[BluSky23]

Sorry, 5% for unsecured a SH offering from recap. D@m auto correct.

[afficheholderon]

And what does it mean for old shareholders?

[Jonny2fingers]

ZIP, I believe.  But, I hope I am wrong.

[Sonofmshade]

Has anyone contacted the company, below was taken form the second last release before the "winner" was announced. The qualified bidders include the ad hoc committee ("Ad Hoc Committee") of holders of approximately 91.5% of the Company's 9.875% second lien secured notes due 2019 ("Secured Notes") who submitted a credit bid for the full amount of the claims

[Sonofmshade]

You would think at the very least they would throw the shareholders a 30 million dollar bone considering its a 1.3 Billion dollar deal and the fact that they have essentially stolen the company from shareholders. But having seen Wright operate it would be at odds with his character and in light of the quid pro quo deal he and the secured have arranged to enrich themselves further.

[reefsandals4eva]

In the Calgary Herald, it said that the deal included swapping their debt for equity. Nothing about throwing bones. I don't think they're going to be stealing anything. Maybe their plan didn't work. I really feel the only way to find out is to wait and see.

[don1212]

We'll find out Dec 8, they never mention the lawsuit.