Debentureholders Approve Amendments to Debenture Indenture
MONTREAL, May 6 /CNW Telbec/ - MEGA Brands Inc. (TSX: MB) announces that
holders of its 10% senior secured debentures passed an extraordinary
resolution today approving amendments to the indenture governing the
debentures. The amendments, among other things, allow the Corporation
to increase available borrowings for working capital purposes under its
existing asset-based credit agreement and are effective as of today.
The extraordinary resolution was approved by approximately 92% of the
votes cast in person or represented by proxy at the special meeting of
About MEGA Brands
MEGA Brands Inc. is a trusted family of leading global brands in
construction toys, games & puzzles, arts & crafts and stationery. They
offer engaging creative experiences for children and families through
innovative, well-designed, affordable and high-quality products. Visit http://www.megabrands.com for more information.
The MEGA logo, Mega Bloks, Rose Art, MEGA Games, MEGA Puzzles and Board
Dudes are trademarks of MEGA Brands Inc. or its affiliates.
All statements in this press release that do not directly and
exclusively relate to historical facts constitute "forward-looking
information" within the meaning of applicable Canadian securities laws.
These statements represent the Corporation's intentions, plans,
expectations and beliefs. Readers are cautioned not to place undue
reliance on these forward-looking statements. Forward-looking
information and statements are based on a number of assumptions and
involve risks, uncertainties and other factors that could cause actual
results to differ materially from those expressed or implied by them,
including, but not limited to risks, assumptions and uncertainties
described in the Corporation's MD&A for the year ended December 31,
2010, which is available at www.sedar.com. The Corporation disclaims
any intention or obligation to publicly update or revise any
forward-looking information, whether as a result of new information,
future events or otherwise, other than as required by applicable law.
SOURCE MEGA BRANDS INC.
For further information:
Chief Financial Officer
Tel: (514) 333-5555 ext. 2283