July 22, 2016 / 7:32 PM / a year ago

BRIEF-Golden Band seeks court approval of proposal to creditors & cancellation of existing shares

July 22 (Reuters) - Golden Band Resources Inc

* Golden Band seeks court approval of proposal to creditors & cancellation of existing shares

* Bankruptcy and Insolvency Act Proposal by co to its creditors was approved by creditors on July 22, 2016

* Says proposal contemplates Procon Resources Inc. or its nominee acquiring shares of co under a bid transaction

* Says closing date of transaction is expected to be August 12, 2016

* Golden Band Resources says purchase price by Procon under stalking horse credit bid equals obligations of Golden Band to Procon under credit agreement

* Says all existing shares and equity interests in Golden Band will be retracted, cancelled and extinguished Source text for Eikon: Further company coverage: (Bengaluru Newsroom; +1 646 223 8780)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below