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Nabis Holdings Inc Announces Closing of Private Placement

Nabis Holdings Inc Announces Board Appointments and Corporate Update

y“) today provided a corporate update as set out below. At a meeting of Nabis’ directors held yesterday, the Board ratified the appointment of Bruce Langstaff as Executive Chairman and appointed Jared Carroll as the Chair of the Audit Committee of the Board of Directors. Scott Kelly and Jennifer Law were also appointed as members of the Audit Committee. The directors also considered strategic alternatives available to Nabis in the light of its size, its financial position, market conditions, and other relevant considerations. As a result of these considerations, the Company has adopted the strategy of seeking to maximize and realize upon the value of its assets, where possible, in order to put itself in the position to discharge its remaining liabilities and to create tangible value for its shareholders.   While Nabis intends to evaluate opportunities in this regard, there can be no assurance that it will enter into any transaction or series of transactions that will accompli

Nabis Holdings Inc Completes Recapitalization

Proposal“) under the Bankruptcy and Insolvency Act (Canada), pursuant to which the Company implemented a recapitalization of its previously outstanding CDN$35 million principal amount of 8.0% unsecured convertible debentures (the “ Debentures“) and all other prior debts of the Company (the “ Recapitalization“). Upon implementation of the Proposal, (i) all existing equity claims in the Company were irrevocably and finally extinguished; and (ii) in full and final satisfaction of all claims of Nabis’ creditors, which were irrevocably and finally extinguished, the Company issued an aggregate of 3,700,000 new common shares in the capital of the Company (“ New Common Shares“) and an aggregate principal amount of CDN$23 million new 5.3% senior unsecured notes due 2023 (“

NA Proactive news snapshot: Hannan Metals Limited, Q BioMed Inc, Mawson Gold Limited, LiteLink Technologies Inc

NA Proactive news snapshot: Hannan Metals Limited, Q BioMed Inc, Mawson Gold Limited, LiteLink Technologies Inc
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