Brief: Anaergia Announces Commencement Of Restructuring Proceedings By Rialto Bioenergy

Anaergia

25/05/2023 23:02

May 25 (Reuters) - Anaergia Inc  ANRG.TO :
    * ANAERGIA ANNOUNCES COMMENCEMENT OF RESTRUCTURING
PROCEEDINGS BY
RIALTO BIOENERGY FACILITY, LLC
    * ANAERGIA INC - EXPECTS RESTRUCTURING TO HAVE A POSITIVE
IMPACT
ON ITS 2023 CASH FLOWS
    * ANAERGIA INC - RIALTO BIOENERGY FACILITY, LLC INITIATED
VOLUNTARY CHAPTER 11 RESTRUCTURING PROCEEDINGS IN U.S.
BANKRUPTCY COURT
    * ANAERGIA INC - ANTICIPATED THAT ANAERGIA WILL CEASE TO
CONTROL
RBF FROM AN ACCOUNTING PERSPECTIVE
    * ANAERGIA INC - LOANS AND INVESTED CAPITAL IN RBF THAT WERE
ELIMINATED ON CONSOLIDATION HAVE CARRYING VALUE AS AT MARCH 31,
2023 OF ABOUT C$115 MILLION
    * ANAERGIA INC - ANTICIPATES RECOGNIZING A PROVISION FOR UP
TO
FULL AMOUNT OF LOANS OF C$60 MILLION
    * ANAERGIA INC - ANAERGIA'S 2023 GUIDANCE IS NOT EXPECTED TO
BE
MATERIALLY CHANGED BY ANTICIPATED DECONSOLIDATION OF RBF

Source text for Eikon:  ID:nBwbpS29Ca 
Further company coverage:  ANRG.TO 

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