Tuckamore Capital Management Inc.
TSX : TX
TSX : TX.DB.B

Tuckamore Capital Management Inc.

February 01, 2016 07:00 ET

Tuckamore Capital Management Inc. Announces Amendment to Credit Agreement

TORONTO, ONTARIO--(Marketwired - Feb. 1, 2016) -

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Tuckamore Capital Management Inc. (TSX:TX)(TSX:TX.DB.B) ("Tuckamore" or the "Company") announced that it has entered into an amending agreement (the "Amendment") dated January 31, 2016 with lenders under its senior secured credit facilities made available to the Company's subsidiary Tuckamore Finance Corp. (the "Borrower"), pursuant to its third amended and restated credit agreement dated as of March 9, 2012 (as amended, the "Credit Agreement"), to extend the maturity date thereunder from January 31, 2016 to March 14, 2016.

Pursuant to the terms of the Amendment, the Company and the Borrower have also agreed to certain additional events of default under the Credit Agreement, including (i) the failure by the Company to finalize a definitive agreement in respect of the sale of certain assets on or before February 29, 2016; (ii) the termination of the engagement letter entered into by the Company with Canso Investment Counsel Ltd., in its capacity as portfolio manager for and on behalf of the certain accounts that it manages, to support and provide capital for certain senior debt issuances by Tuckamore; and (iii) the failure to finalize the form of an asset-based credit agreement to be entered into on or before February 29, 2016. The principal amount outstanding under the Credit Agreement remains unchanged by the Amendment.

About Tuckamore

Tuckamore (http://tuckamore.ca) has investments in four businesses representing a diverse cross-section of the Canadian economy.

Contact Information

  • Tuckamore Capital Management Inc.
    Keith Halbert
    Chief Financial Officer
    416-775-3796
    keith@tuckamore.ca