Elixxer Ltd. Announces Debt Settlement
Elixxer Ltd. (TSXV: ELXR.H) has completed a significant debt settlement transaction, converting $5.53 million of debt into 67,014,183 common shares at $0.0825 per share. The transaction includes both arm's length and non-arm's length creditors, with an insider receiving 62,165,699 shares.
Following the settlement, AIP Convertible Private Debt Fund L.P. has significantly increased its ownership position from 32.04% to 83.98% of outstanding shares on an undiluted basis. The transaction was approved by independent board members and is subject to TSX Venture Exchange final acceptance, with issued shares having a four-month hold period.
Elixxer Ltd. (TSXV: ELXR.H) ha completato una significativa operazione di ristrutturazione del debito, convertendo 5,53 milioni di dollari di debito in 67.014.183 azioni ordinarie a 0,0825 dollari per azione. La transazione comprende sia creditori arm's length sia creditori non arm's length, con un insider che ha ricevuto 62.165.699 azioni.
Dopo l'accordo, AIP Convertible Private Debt Fund L.P. ha aumentato significativamente la propria partecipazione dal 32,04% al 83,98% delle azioni in circolazione su base non diluita. La transazione è stata approvata dai membri indipendenti del consiglio ed è soggetta all'accettazione finale da parte della TSX Venture Exchange, con un periodo di lock‑up di quattro mesi per le azioni emesse.
Elixxer Ltd. (TSXV: ELXR.H) ha completado una importante operación de reestructuración de deuda, convirtiendo 5,53 millones de dólares de deuda en 67.014.183 acciones comunes a 0,0825 dólares por acción. La transacción incluye a acreedores tanto a distancia de brazo como no arm's length, y un directivo/insider recibió 62.165.699 acciones.
Tras el acuerdo, AIP Convertible Private Debt Fund L.P. ha aumentado significativamente su participación desde el 32,04% hasta el 83,98% de las acciones en circulación no diluidas. La transacción fue aprobada por miembros independientes de la junta y está sujeta a la aceptación final de la TSX Venture Exchange, con un periodo de bloqueo de cuatro meses para las acciones emitidas.
Elixxer Ltd. (TSXV: ELXR.H)가 상당한 부채 청산 거래를 완료하여 530만 달러의 부채를 67,014,183주 일반주로 전환하고, 주당 0.0825달러에 발행했습니다. 이 거래에는 arm's length 및 비-arm's length 채권자가 모두 포함되며, 내부자에게는 62,165,699주가 배정되었습니다.
정산 후 AIP Convertible Private Debt Fund L.P.은 미발행 보통주 기준으로 소유 지분을 32.04%에서 83.98%로 크게 증가시켰습니다. 이 거래는 독립 이사회 구성원의 승인을 받았으며 TSX Venture Exchange의 최종 승인을 조건으로 하며, 발행 주식은 네 달의 보유 기간이 적용됩니다.
Elixxer Ltd. (TSXV: ELXR.H) a mené une opération significative de règlement de dettes, convertissant 5,53 millions de dollars de dette en 67 014 183 actions ordinaires à 0,0825 dollar par action. La transaction comprend des créanciers tant liés que non liés, un initié recevant 62 165 699 actions.
Suite au règlement, AIP Convertible Private Debt Fund L.P. a fortement augmenté sa participation de propriété, passant de 32,04% à 83,98% des actions en circulation sur une base non diluée. La transaction a été approuvée par des membres du conseil indépendants et est soumise à l’acceptation finale de la TSX Venture Exchange, les actions émises étant soumises à une période de blocage de quatre mois.
Elixxer Ltd. (TSXV: ELXR.H) hat eine bedeutende Schuldenregulierungs-transaktion abgeschlossen und 5,53 Mio. USD Schulden in 67.014.183 Stammaktien zu 0,0825 USD pro Aktie umgewandelt. Die Transaktion umfasst sowohl unabhängige als auch nicht unabhängige Gläubiger, wobei ein Insider 62.165.699 Aktien erhalten hat.
Nach der Einigung hat AIP Convertible Private Debt Fund L.P. seine Eigentümerschaft signifikant von 32,04% auf 83,98% der ausstehenden Aktien auf unverdünnter Basis erhöht. Die Transaktion wurde von unabhängigen Vorstandsmitgliedern genehmigt und unterliegt der endgültigen Annahme durch die TSX Venture Exchange, mit einer viermonatigen Haltefrist für die ausgegebenen Aktien.
Elixxer Ltd. (TSXV: ELXR.H) أكملت صفقة تسوية ديون مهمة، حيث تم تحويل 5.53 مليون دولار من الدين إلى 67,014,183 سهماً عائداً باللغات الحيوية؟ إلى 0.0825 دولار للسهم. تشمل الصفقة دائنيْن مستقلين وغير مستقلين، مع nhận/مطلع insider استلم 62,165,699 سهماً.
بعد التسوية، قام AIP Convertible Private Debt Fund L.P. بزيادة ملكيته بشكل كبير من 32.04% إلى 83.98% من الأسهم القائمة بدون تخفيض. تمت الموافقة على الصفقة من قبل أعضاء مجلس الإدارة المستقلين وهي خاضعة لقبول نهائي من TSX Venture Exchange، مع وجود فترة حجز/احتجاز طولها أربعة أشهر للأسهم المصدرة.
Elixxer Ltd. (TSXV: ELXR.H) 已完成一项重要的债务和解交易，将530万美元的债务转为67,014,183股普通股，每股价格为0.0825美元。该交易包括既有距离独立的债权人，也有非独立的债权人，其中内部人士获得了62,165,699股。
和解完成后，AIP Convertible Private Debt Fund L.P. 在未摊薄基础上，其持股比例从32.04%大幅上升至83.98%。该交易已获得独立董事会成员的批准，仍需 TSX Venture Exchange 的最终认可，发行的股票将有四个月的锁定期。
- Elimination of $5.53 million in debt through equity conversion
- Transaction designed to improve company's financial position
- Received board approval from independent directors
- Significant dilution with 67 million new shares issued
- Major ownership concentration with AIP now controlling 83.98% of shares
- Related party transaction involving company insider
Toronto, Ontario--(Newsfile Corp. - September 16, 2025) - Elixxer Ltd. (TSXV: ELXR.H) ("Elixxer" or the "Company") announces that, further to its press release of September 5, 2025, the Company has settled an aggregate of
The Debt Settlement is constituted "related party transactions" as defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions ("MI 61-101"), an insider of the Company received an aggregate of 62,165,699 Common Shares. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(g) and 5.7(1)(e) of MI 61-101, as the Company is in financial difficulty and the transaction is designed to improve the financial position of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Debt Settlement, which the Company deems reasonable.
The Debt Settlement was approved by the members of the board of directors of the Company who are independent for the purposes of the Debt Settlement, being all directors other than Messrs. Alexey (Alex) Kanayev and Jayahari (Jay) Balasubramaniam. No special committee was established in connection with the Debt Settlement, and no materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.
Prior to the completion of the Debt Settlement, AIP Convertible Private Debt Fund L.P. ("AIP") held an aggregate of 3,633,391 Common Shares, representing approximately
About Elixxer Ltd.
Elixxer is a Canadian public company listed on the TSX Venture Exchange (TSXV: ELXR.H) and the US OTC-Pink exchange (OTC Pink: ELIXF). Elixxer is an investment company with investments in Canada and other countries and is currently looking for new high growth opportunities to invest in.
For further information, please contact:
Karim Mecklai, Chief Executive Officer, 416-877-3153
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266745
FAQ
What is the value of Elixxer's (ELXR.H) debt settlement announced on September 16, 2025?
How many shares did AIP Convertible Private Debt Fund own in Elixxer before and after the debt settlement?
What is the share price for Elixxer's debt settlement transaction?
Are there any restrictions on the newly issued Elixxer shares?
How many shares were issued to insiders in Elixxer's debt settlement?
