NEW YORK, December 20, 2021 /CNW/ – Stoneway Capital Corporation (“stone path“, and with its subsidiaries and parent entities, the “Society“) and six affiliated debtors (the “Debtors“) are currently the subject of jointly administered reorganization proceedings under Chapter 11 of the United States Bankruptcy Code in United States Bankruptcy Court for the Southern District of New York (the “Chapter 11 Cases“). In connection with Chapter 11 matters and potential restructuring transactions arising therefrom (the “Potential transactions“) of the Debtors, the Debtors have entered into confidentiality agreements (collectively, the “nes“) with certain holders of 10.000% senior secured notes due 2027 issued by Stoneway. Pursuant to the NDAs, the Debtors have agreed to publicly disclose certain information, including material non-public information (the “cleaning equipment“), upon the occurrence of certain dates or events set forth in the NDAs. In satisfaction of the Debtors’ obligations under these NDAs, the Company shall make the Cleanup Materials publicly available. The Cleanup Materials include Plan Update Materials by reference and available for public download at https://www.stonewaycap.com/investor-relations/ (the “December Business Plan Update“).
This press release contains forward-looking statements. Forward-looking statements include updated business plan and statements including the words “believe”, “expect”, “plan”, “may”, “will”, “should”, “could”. and words with a similar meaning. The business plan update speaks only as of its date, and the company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, events future or otherwise.
Discussions regarding potential transactions are ongoing but have been extended due to the continued evaluation of tax-advantaged structures for potential transactions. Assumptions regarding the Business Plan Update may be revised, which may result in material revisions to the December Business Plan Update. In addition, the assumptions and estimates underlying the December Business Plan Update are inherently uncertain and subject to a wide variety of significant business, economic, regulatory and competitive risks and uncertainties. Accordingly, there can be no assurance that the events referred to in the December Business Plan Update will occur or that the projections presented therein will occur. Actual results could differ materially from those projected due to a number of factors, including changes in assumptions in the December business plan update. In addition, the Company believes that the December business plan update involves increasingly higher levels of uncertainty as the projections move further away from their date of preparation.
The principal 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, without limitation, risks associated with the Company’s ability to operate in the ordinary course of Chapter 11 business, including with respect to the performance of obligations to service providers, suppliers, contractors and employees; the Company’s ability to continue as a going concern; the ability of the Company to continue to realize its assets and to discharge its debts and commitments; the Company’s future liquidity position and access to capital to fund ongoing operations and obligations (including debt securities); and the Company’s ability to stabilize its business and financial condition.
Although the Company bases its forward-looking statements on assumptions believed to be reasonable at the time they were 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 unpredictable factors could also adversely affect the Company’s future results. Given 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 undertakes no obligation to update these forward-looking statements, except as required by law.
SOURCEStoneway Capital Corporation