Nabis Holdings Inc. Announces Creditor Approval of Proposal
VANCOUVER, British Columbia, Dec. 15, 2020 Nabis Holdings Inc. (CSE: NAB) (OTC: NABIF) (FRA: A2PL) (“
Nabis” or the “
n
y”) today announced that the Company’s previously announced proposal (as amended from time to time, the “
Proposal”) under the
BIA”) was unanimously approved by the Company’s creditors (the “
Creditors”) who were present (in person or by proxy) and voted at the meeting of the Creditors held virtually on December 14, 2020, in accordance with the voting procedures established by the Proposal and the BIA.
Pursuant to the Proposal, the Company will implement a recapitalization of the Company’s outstanding CDN$35 million principal amount of 8.0% unsecured convertible debentures and all other debts of the Company (the “
Nabis Holdings Inc Announces Amendment to Recapitalization Transaction finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
Proposal”) under the
Bankruptcy and Insolvency Act (Canada) (the “
BIA”), pursuant to which the Company will implement a recapitalization of the Company’s outstanding CDN$35 million principal amount of 8.0% unsecured convertible debentures (the “
Debentures”) and all other debts of the Company (the “
Recapitalization”). The amended proposal (the “
Amended Proposal”) was made with the support of the holders of Debentures who were party to the previously announced support agreement in respect of the Recapitalization.
A full copy of the Amended Proposal is available from KSV Restructuring Inc., as proposal trustee in respect of the Amended Proposal, at www.ksvadvisory.com/insolvency-cases/case/nabis-holdings (the “
Proposal”) under the
Bankruptcy and Insolvency Act (Canada) (the “
BIA”), pursuant to which the Company will implement a recapitalization of the Company’s outstanding CDN$35 million principal amount of 8.0% unsecured convertible debentures (the “
Debentures”) and all other debts of the Company (the “
Recapitalization”). The amended proposal (the “
Amended Proposal”) was made with the support of the holders of Debentures who were party to the previously announced support agreement in respect of the Recapitalization.
A full copy of the Amended Proposal is available from KSV Restructuring Inc., as proposal trustee in respect of the Amended Proposal, at www.ksvadvisory.com/insolvency-cases/case/nabis-holdings (the “