Followers | 1319 |
Posts | 26918 |
Boards Moderated | 6 |
Alias Born | 12/10/2012 |
![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Wednesday, February 12, 2020 12:00:06 PM
Niko Announces Distribution of Net Proceeds from D6 Settlement Transaction
11:55 AM ET 2/12/20 | GlobeNewswire
Related Quotes
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)
PickleJar Unveils Latest Venue Managed Services Innovations in Upcoming Webinar • PKLE • Aug 23, 2024 1:11 PM
Element79 Gold Corp Provides Update on Nevada Portfolio • ELMGF • Aug 23, 2024 8:00 AM
Maybacks Adds Award Winning Show to Its Lineup Discusses Maybacks Opportunity • AHRO • Aug 22, 2024 11:30 AM
North Bay Resources Announces First Gold Concentrate at Mt. Vernon Gold Mine, Assays 12 oz/ton Gold, 17.5 oz/ton Platinum, and 8 oz./ton Silver, Sierra County, California • NBRI • Aug 22, 2024 10:28 AM
All Things Mobile Analytic, Inc. Reports Major Growth with Over $11 Million in Revenue • ATMH • Aug 22, 2024 7:19 AM
Unitronix Announces Strategic Entry into Cryptocurrency Space • UTRX • Aug 21, 2024 10:00 AM