TORONTO, October 10, 2019 – Flow Capital Corp. (TSXV: FW) (the “Company”) announced today that it has issued a redemption notice to redeem on November 15, 2019 (the “Redemption Date”), $14,000,000 (the “Redeemed Debentures”) of the $16,958,000 total principal amount of its 8% convertible unsecured subordinated debentures (TSX:FW.DB.A) (the “Debentures”) then outstanding, on a pro rata basis in accordance with the principal amount of the Debentures registered to each holder of Debentures. The Company intends to use available funds to pay the redemption price of the Redeemed Debentures.
The Redeemed Debentures will be redeemed on the Redemption Date at par, plus accrued and unpaid interest to but excluding the Redemption Date. Each holder will receive $1,030.25 per $1,000 principal amount of Debentures Redeemed, which is comprised of: (i) $1,000 (being the principal amount); and (ii) $30.25 (being the accrued and unpaid interest thereon up to November 14, 2019 inclusively) (together, the “Redemption Price”). All interest on the Redeemed Debentures shall cease from and after the Redemption Date. No action is required by holders to receive the redemption Price. The Company also advises that the last day for submitting conversion elections is the close of business on Wednesday, October 30, 2019 and will reopen on Monday, November 18, 2019, the day immediately following the Redemption Date, for conversions of Debentures not redeemed as of November 15, 2019.
About Flow Capital
Flow Capital Corp. is a diversified alternative asset investor and advisor, specializing in providing minimally dilutive capital to emerging growth businesses. To apply for financing, visit www.flowcap.com.
For further information, please contact:
Flow Capital Corp.
Chief Executive Officer
1 Adelaide Street East, Suite 3002,
Toronto, Ontario M5C 2V9
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.