FLINT Corp. announced a proposed recapitalization transaction to reduce debt, simplify capital structure, and improve liquidity, with the support of its largest shareholder and lender, Canso Investment Counsel Ltd. The recapitalization involves exchanging senior secured debentures and preferred shares for new common shares, reducing debt by approximately C$135 million and annual cash interest expenses by C$10.8 million. The plan also includes a share consolidation and agreements with stakeholders to vote in favor of the recapitalization. The process is expected to be completed by the end of September 2025, pending regulatory and shareholder approvals.

The recapitalization of FLINT Corp. is intended to address maturity and interest obligations, simplify the company’s capital structure, and position it for future growth opportunities. The plan involves exchanging debt and preferred shares for common shares, reducing total debt by C$135,335,053 and annual cash interest expenses by approximately C$10,826,804. The recapitalization has received support from key stakeholders, including Canso Investment Counsel Ltd., and is expected to be completed by the end of September 2025, subject to regulatory and shareholder approvals.

Read more at GlobeNewswire: FLINT Announces Transformational Recapitalization