Sikaman proposes debt restructuring (October 07, 1991)

Sikaman Gold Resources (TSE) will seek approval from debenture holders at a meeting Nov. 15 to decrease the conversion price of its $6.1-million convertible debenture to 50 cents per share from $3.50 per share.

The proposed restructuring would allow Sikaman to pay interest or redeem the debentures in cash or common stock at the company’s option. The term of the debenture would be extended to November, 1996, from March, 1994.