date:Jul 16, 2012
The redemption of the Debentures was financed with the proceeds from the new debt facilities which Clearwater announced in a news release on 6 June, 2012. No Debenture conversion requests were received and, therefore, the full C$43.4 million face value was paid out to holders of the Debentures.
Ian Smith, Clearwater's CEO commented: Consistent with our goal of increasing shareholder value, this redemption eliminates high cost debt, strengthens our capital structure and our ability to the fund g