Niko Resources Ltd. (NKRSF)

[staw]

This current reporting company might get a bang for just a BUCK! Great play for the right deal.

[makinezmoney]

$NKRSF: $26Million distributions from D6 Settlement


Niko Announces Distribution of Net Proceeds from D6 Settlement Transaction
11:55 AM ET 2/12/20 | GlobeNewswire
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11:09 AM ET 2/12/20
Symbol Last % Chg
NKRSF
0.00 -46.67%
Real time quote.



Niko Announces Distribution of Net Proceeds from D6 Settlement Transaction

CALGARY, Alberta, Feb. 12, 2020 (GLOBE NEWSWIRE) -- As previously disclosed in the press release by Niko Resources Ltd. ("Niko" or the "Company") of January 14, 2020, pursuant to the terms of the Company's Amended and Restated Facilities Agreement dated July 18, 2016 (the "Facilities Agreement") with its senior lenders ("Lenders"), the Lenders had appointed a receiver over the shares of the Company's indirect subsidiary, Niko (NECO) Ltd. ("Niko NECO"), and exercised their rights over the bank account of Niko NECO that the proceeds of the D6 settlement transaction referred to in the Company's December 27, 2019 press release were deposited into.

The Company understands that Niko NECO has today distributed net proceeds of $26 million solely to the agent of the Lenders pursuant to the entitlement of Lenders under the Waterfall Distribution mechanism defined in the Facilities Agreement and in the amended indenture governing the convertible notes of the Company.

For further information, please see the Company's Management's Discussion and Analysis for the year ended March 31, 2019 and other documents filed on the Company's SEDAR profile at www.sedar.com. Also, please contact: Niko Resources Ltd. (403) 262--1020, Glen Valk, VP Finance & CFO.

> Dow Jones Newswires

February 12, 2020 11:55 ET (16:55 GMT)

[retireat40]

Why? Does this pay off all of their convertible debt?

[retireat40]

All of which goes to the lenders...

Pursuant to the Waterfall Distribution mechanism defined in the Company’s Amended and Restated Facilities Agreement dated July 18, 2016 with its senior lenders (“Lenders”) and in the amended indenture governing the convertible notes of the Company, the net proceeds from the transaction are to be distributed solely to the Lenders

[Awl416]

Large - At one point it was .002/.007

[Papa Bear]

$NKRSF News Page: www.nikoresources.com/investor-centre/news.html#2020

[Papa Bear]

Niko Resources Corporate Webpage ~~> Not the best but I have seen worse

www.nikoresources.com/

[koolmc]

how big was the spread?

[Papa Bear]

Absolutely a game changer here! $NKRSF

[Papa Bear]

Niko Announces Closing of Settlement Agreement ~~> https://www.otcmarkets.com/stock/NKRSF/news/story?e&id=1511061

[Silverlakes123]

$36 million settlement against BP according to today’s news. This is huge!

[Awl416]

$7 whack haha

[Awl416]

Lol that spread is tough to trade damn

[nhexus1]

Woow