Post by
pennydredful on Dec 22, 2022 12:22pm
These bond holders
Do not have to vote for the extension. The threat SLAM has is they can just issue them shares at a 5% discount to market for the bonds . If they failed to do so or sell an asset to pay them off the bond holders could put SOT.un in receivership after a 30 day grace period.
Comment by
Malpeque2 on Dec 23, 2022 1:22pm
It's a Christmas gift for the Bondholders. 9% plus a conversion feature for what.......2-3 years. You think they might balk at the terms?? HAH!