Canada NewsWire
VANCOUVER, Sept. 8, 2016
VANCOUVER, Sept. 8, 2016 /CNW/ - POYDRAS GAMING FINANCE
CORP. (TSX‐V: PYD) ("Poydras" or the "Company"), a leading provider of gaming machines to casino operators in its core markets
of Oklahoma and Texas, today announced that it has completed the
early redemption and cancellation of its 11.0% Convertible Debentures (scheduled to mature on March 31,
2017) (the "Debentures") on September 5, 2016 (the "Redemption Date").
Pursuant to the Company's announcement on August 2, 2016, Debentures in the amount of US$7,732,000 were redeemed and cancelled at a price equal to approximately US$1,020
per US$1,000 principal amount of Debentures which is the aggregate of (i) US$1,000 face value and (ii) all accrued and unpaid interest from June 30, 2016 to
September 5, 2016.
"The refinancing of our debt allowed us to retire these debentures early, eliminating any potential dilution of equity from
their conversion," said Peter Macy, CEO of Poydras. "I would like to thank our Debenture Holders for
their belief in Poydras' potential, as evidenced by their investment."
About Poydras Gaming Finance Corp.
Poydras Gaming is a regional slot route operator with approximately 2,500 revenue-generating gaming machines across 25 casinos
in Oklahoma and Texas. The Company provides slot machines and related capital expenditures
under short- and long-term contracts for existing casinos, new casino developments and gaming machine suppliers in the United
States. Additional information about the Company can be found on the SEDAR website at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Poydras Gaming Finance Corp.
