Chemistree Technology (TSE:CHM) has released an update.
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Chemistree Technology Inc. is seeking approval from its debentureholders for a significant debt restructuring proposal that involves exchanging outstanding debentures for common shares, potentially resulting in debentureholders owning approximately 90.3% of the company. The restructuring aims to enhance long-term shareholder value by improving liquidity, allowing management to focus on operations, and simplifying the capital structure. The proposal comes as the company faces a maturity deadline for its debentures without sufficient funds to meet the obligation in cash.
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