The Scoular Company

December 22, 2014 19:05 ET

Acquisition of Convertible Debenture of Legumex Walker Inc.

CALGARY, ALBERTA--(Marketwired - Dec. 22, 2014) - The Scoular Company ("Scoular") reports that on October 31, 2014, it acquired ownership and control of $16,500,000 principal amount of a 7.75% unsecured subordinated convertible debenture of Legumex Walker Inc. ("LWI") due December 31, 2019 (the "Debenture"). Pursuant to the Debenture, which is now fully convertible, Scoular may convert the Debenture or any portion thereof, into common shares ("LWI Shares") of LWI at CAD$6.75 per share, subject to adjustment in accordance with the terms of the Debenture. Other than the Debenture, Scoular does not own or control any issued and outstanding LWI Shares or other LWI securities.

The Debenture was acquired at par by Scoular as part of its long-term strategic alliance with LWI. Scoular may from time to time dispose of the Debenture, or portion thereof, or continue to hold the Debenture in the normal course of its activities, subject to compliance with applicable laws. Pursuant to the Debenture, which is now fully convertible, Scoular may also convert the Debenture or any portion thereof, into LWI Shares at CAD$6.75 per share, subject to adjustment in accordance with the terms of the Debenture.

An early warning report will be filed on SEDAR at www.sedar.com and will be available upon request from the offices of Scoular at the address below.

Contact Information

  • The Scoular Company
    2027 Dodge Street
    Omaha, Nebraska 68102 USA
    Attention: Treasurer