FLINT to pay interest on Senior Secured Debentures in kind

CALGARY, Alberta, June 06, 2023 (GLOBE NEWSWIRE) -- FLINT Corp. (“FLINT”) (TSX: FLNT) is pleased to announce that Canso Investment Counsel Ltd., in its capacity as portfolio manager for and on behalf of certain accounts that it manages ("Canso"), and sole holder of its 8% senior secured debentures due March 23, 2026 (the “Senior Secured Debentures”), has agreed to (i) accept the issuance of Senior Secured Debentures on June 30, 2023 with a principal amount of $4,812,494 in order to satisfy the interest that would otherwise become due and payable on such date (the “Payment in Kind Transaction”) and (ii) amend the trust indenture governing the Senior Secured Debentures, to among other things, establish a mechanism by which FLINT may request, and the holder of the Senior Secured Debentures may approve (at their sole discretion), the payment of interest owing on the Senior Secured Debentures on future interest payment dates in kind (the “Indenture Amendment”).

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