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CALGARY, Alberta, June 19, 2023 (GLOBE NEWSWIRE) — Razor Energy Corp. (“ Razor ”) ( TSXV: RZE ) in conjunction with FutEra Power Corp. (“ FutEra ”), is pleased to announce that it has completed the transactions contemplated by its previously announced debt settlement agreement with Alberta Investment Management Corporation, (“ AIMCo ”), on behalf of certain of its clients (the “ Debt Settlement Agreement ”), pursuant to which all obligations owing by Razor to AIMCo under the senior second amended and restated loan agreement dated February 16, 2021 have been settled through the transfer to AIMCo of equity interests held by Razor in its previously wholly-owned, non-listed subsidiary, FutEra. For complete details, refer to the press releases of Razor dated May 1, 2023 and May 8, 2023 and Razor’s rights offering circular dated May 8, 2023, which are available on SEDAR.com. The key components of the Debt Settlement Agreement are as follows: Razor has disposed of 70% of its common shares of FutEra and 100% of a class of newly created voting, convertible preferred shares in FutEra to settle $63.9 million of secured debt with AIMCo (the “ FutEra Share Transfer ”); Razor has retained 30% of its […]
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