Banro Corp. fka BAA

[Mike_2018]

All,

I emailed Banro earlier requesting information for us Common Shareholders. Below is their response:


Michael,

The Monitor confirms receipt of your email. On December 22nd, 2017, Banro Corporation and associated entities obtained an Initial Order under the Companies’ Creditors Arrangement Act (CCAA). With respect to delisting, the exchanges are responsible for such decisions. The Monitor can provide no comment on when or if the trading halt would be lifted. As set out in the CCAA application materials, Banro has entered into a support agreement for a restructuring which it would seek to complete if no better alternative transaction is identified through the sale and investor solicitation process that is contemplated to commence in January if approved by the court. If the restructuring is implemented in accordance with the restructuring term sheet, existing equity would be extinguished.

To obtain a copy of the Initial Order, please visit Blockedhttp://cfcanada.fticonsulting.com/banro.