BIOX Extends Bridge Note and Announces that it has Received a Non-Binding Offer Regarding an Acquisition by its Principal Shareholder Group
TORONTO, May 15, 2017 BIOX Corporation ("BIOX" or the "Company") (TSX: BX), a renewable energy company that owns and operates biodiesel production facilities, today announced that the secured bridge note held by CFFI Ventures Inc. ("CFFI Ventures") in the original aggregate principal amount of US$5,221,546 issued on January 1, 2017 (the "Bridge Note"), as amended as of March 23, 2017, was further amended today to extend the maturity date from June 30, 2017 to September 30, 2017. The Bridge Note extension is subject to regulatory approval.
BIOX also announced that, following lengthy discussions, it has received a non-binding offer from its principal shareholder group, FP Resources Limited, CFFI Ventures and certain of their affiliates (collectively, the "CFFI Group"), for an acquisition transaction whereby the CFFI Group would acquire all of the outstanding common shares of the Company not owned by the CFFI Group for consideration of C$1.23 per share (the "Proposed Transaction").
Read more: BIOX Corporation ( BX )
Published: 16 May 2017
Written by Editor