Chemistree Technology (TSE:CHM) has released an update.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Chemistree Technology Inc. has announced the approval from its debentureholders to proceed with a debt restructuring plan, which will see the company’s $6.837 million debt extinguished by converting it into common shares at $0.01 each. The anticipated restructuring is set to take effect around May 9, 2024, and will involve the issuance of 666.8 million new common shares, providing a fresh financial start for the investment company with diverse interests ranging from biotechnology to renewable energy.
For further insights into TSE:CHM stock, check out TipRanks’ Stock Analysis page.