BUZZ-Lightstream Resources Ltd: Delays interest payment

Wed Jun 15, 2016 11:13am EDT
 
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** Canadian oil and gas producer's shares down 4.6 pct at 20 Canadian cents

** Shares drop as much as 14 pct; biggest loss in more than a month

** Delays interest payment of $321.1 mln to debtholders (bit.ly/28EzP5d)

** In talks with debtholders on potential restructuring, including converting debt to equity

** Co has until July 15 to make payment to avoid default

** Outstanding net debt C$1.6 bln ($1.24 bln) as of Dec 31, 2015

** Up to Tuesday's close, shares had fallen 81 pct in the last 12 months

($1 = 1.2904 Canadian dollars)