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Acasta Enterprises Inc
Symbol C : AEF
Shares Issued 70,215,298
Close 2018-05-14 C$ 2.44
Recent Sedar Documents

Acasta receives $28.5-million from note monetization

2018-05-15 09:03 ET - News Release

Mr. Ian Kidson reports

ACASTA ANNOUNCES MONETIZATION OF ITS PROFIT PARTICIPATING NOTES

Acasta Enterprises Inc. has monetized its interest in the profit-participating notes (PPNs) that were retained by Acasta following the sale of its Stellwagen business unit. The net proceeds from the monetization of the PPNs were approximately $28.5-million, which amount was used by Acasta to further pay down indebtedness. These proceeds exclude the additional $5-million (U.S.) due from the purchaser of the Stellwagen business unit pursuant to the sale agreement.

As a result of sale of the Stellwagen business unit and the PPNs, Acasta has effectively reduced its total indebtedness by approximately $68.8-million.

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