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NEW YORK, November 6, 2021 / CNW / – Stoneway Capital Corporation (“Stone path, “and with its subsidiaries and parent entities, the”Society“) and six affiliated debtors (the”Debtors“) are currently subject to a jointly administered reorganization proceeding under Chapter 11 of the United States Bankruptcy Code in United States South District Bankruptcy Court new York (the “Chapter 11 Cases“). In connection with the Chapter 11 cases and potential restructuring transactions arising therefrom (the”Potential Transactions“) of the Debtors, the Debtors have entered into confidentiality agreements (collectively, the”NDA“) with certain holders of the 10,000% Senior Secured Notes due 2027 issued by Stoneway.Cleaning equipment“), upon the occurrence of certain dates or events set out in the NDAs. In fulfillment of the Debtors’ obligations under these NDAs, the Company makes the Cleansing Materials public by attaching them hereto. The Cleansing Materials include the draft sheet of restructuring conditions attached as Exhibit A (https://www.stonewaycap.com/download/781/) (the “Restructuring term“) and the attached business plan until 2027 as Exhibit B (https://www.stonewaycap.com/download/781/) (the “Summary of preliminary forecasts“).

This press release contains forward-looking statements. Forward-looking statements include the summary of preliminary forecasts dated 25 October 2021 as well as statements including the words “believe”, “expect”, “plans”, “can”, “will”, “should”, “could” and words with similar meanings. The summary of preliminary forecasts only applies as of its date and the company assumes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

Discussions regarding potential transactions are continuing but have been extended due to additional transaction expenses and regulatory issues that were not fully addressed in the summary of preliminary forecasts, as well as the ongoing assessment of structures. tax efficient for potential transactions. The Company also discusses some recent events related to a damaged turbine at the Company’s power plant in Luján requiring imminent repair. The assumptions regarding the Preliminary Forecast Summary should be revised, which may result in significant revisions to the Preliminary Forecast Summary and, therefore, to the Restructuring Term Sheet. Even if the summary of preliminary forecasts were to be adopted by the company, the assumptions and estimates underlying the summary of preliminary forecasts are inherently uncertain and are subject to a wide variety of business, economic, regulatory and competitive risks and uncertainties. important. Therefore, no guarantee can be given that the events mentioned in the summary of preliminary forecasts will occur or that the projections contained therein will be realized. Actual results could differ materially from those projected due to certain factors, including changes in the assumptions in the summary of preliminary forecasts. In addition, the Company believes that the summary of preliminary forecasts involves increasing levels of uncertainty as the projections extend from their date of preparation.

About Stoneway

The main activity of the Company is the construction, ownership and operation of power generation facilities located in Argentina.

FORWARD-LOOKING STATEMENTS: Certain information contained in this press release may contain forward-looking statements within the meaning of applicable securities laws.

Forward-looking statements necessarily involve risks, including, but not limited to, risks associated with the Company’s ability to operate in the normal course of Chapter 11 Cases, including with respect to fulfilling obligations owed to it. service providers, suppliers, contractors and employees; the Company’s ability to continue to operate; the Company’s ability to continue to realize its assets and meet its debts and commitments; the Company’s future liquidity position and access to capital to fund operations and outstanding obligations (including debt obligations); and the Company’s ability to stabilize its business and financial condition.

Although the company bases its forward-looking statements on assumptions considered reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry. in which the company operates, may differ materially from such information and statements contained in this press release. Other unknown or unforeseeable factors could also adversely affect the Company’s future results. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. The Company does not intend and assumes no obligation to update these forward-looking statements, except as required by law.

SOURCE Stoneway Capital Corporation

Cision

See original content: http://www.newswire.ca/en/releases/archive/November2021/06/c6744.html


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