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BRIEF-Sea Breeze Power Corp announces approval of restructuring proposal
May 2, 2017 / 1:13 PM / 7 months ago

BRIEF-Sea Breeze Power Corp announces approval of restructuring proposal

May 2 (Reuters) - Sea Breeze Power Corp:

* Sea Breeze Power Corp announces approval of restructuring proposal

* Sea Breeze Power Corp - supreme court of british columbia approved second amended proposal of sea breeze power corp and its unit, dated April 21, 2017

* Sea Breeze Power - as a result of company’s ongoing operational losses and increasing liabilities it was unable to meet its obligations to creditors

* Sea Breeze Power - Power Corp to issue additional 1 billion common shares to tucan, after which Power Corp’s shares to be consolidated at rate of 25 million to 1

* Sea Breeze Power - all fractional shares,other securities of power corp., except for shares held by Tucan, to subsequently be cancelled

* Sea Breeze Power Corp - Tucan will be sole shareholder of Power Corp Source text for Eikon: Further company coverage:

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