Sixty Six Capital has announced the conversion of convertible secured grid promissory notes into common shares at the request of noteholders. The company converted CAD$3.59 million of notes into 59.82 million common shares at CAD$0.06 per share and made an additional payment of CAD$1.44 million to a noteholder. Following the conversion, major shareholder David Rowe's ownership changed from 49.07% to 47.05% of outstanding shares, while Robert Keith's ownership increased from 27.52% to 36.54%. The conversion significantly impacts the company's capital structure and debt obligations, with both major shareholders maintaining substantial ownership positions.
Sixty Six Capital ha annunciato la conversione di cambiali convertibili garantite in azioni ordinarie su richiesta dei detentori delle cambiali. La societ脿 ha convertito cambiali per un valore di 3,59 milioni di CAD in 59,82 milioni di azioni ordinarie al prezzo di 0,06 CAD per azione e ha effettuato un pagamento aggiuntivo di 1,44 milioni di CAD a un detentore di cambiali. Dopo la conversione, la quota del principale azionista David Rowe 猫 passata dal 49,07% al 47,05% delle azioni in circolazione, mentre quella di Robert Keith 猫 aumentata dal 27,52% al 36,54%. Questa conversione ha un impatto significativo sulla struttura del capitale e sugli obblighi debitori della societ脿, con entrambi gli azionisti principali che mantengono posizioni di propriet脿 rilevanti.
Sixty Six Capital ha anunciado la conversi贸n de pagar茅s convertibles garantizados en acciones comunes a solicitud de los tenedores de pagar茅s. La compa帽铆a convirti贸 pagar茅s por un valor de 3,59 millones de CAD en 59,82 millones de acciones comunes a 0,06 CAD por acci贸n y realiz贸 un pago adicional de 1,44 millones de CAD a un tenedor de pagar茅s. Tras la conversi贸n, la participaci贸n del accionista mayoritario David Rowe cambi贸 del 49,07% al 47,05% de las acciones en circulaci贸n, mientras que la participaci贸n de Robert Keith aument贸 del 27,52% al 36,54%. La conversi贸n impacta significativamente la estructura de capital y las obligaciones de deuda de la empresa, con ambos accionistas principales manteniendo posiciones sustanciales de propiedad.
Sixty Six Capital a annonc茅 la conversion de billets 脿 ordre convertibles garantis en actions ordinaires 脿 la demande des porteurs de billets. La soci茅t茅 a converti pour 3,59 millions de dollars canadiens de billets en 59,82 millions d鈥檃ctions ordinaires au prix de 0,06 dollar canadien par action et a effectu茅 un paiement suppl茅mentaire de 1,44 million de dollars canadiens 脿 un porteur de billets. Suite 脿 la conversion, la participation du principal actionnaire David Rowe est pass茅e de 49,07 % 脿 47,05 % des actions en circulation, tandis que celle de Robert Keith est pass茅e de 27,52 % 脿 36,54 %. Cette conversion a un impact significatif sur la structure du capital et les obligations de dette de la soci茅t茅, les deux principaux actionnaires conservant des positions de propri茅t茅 substantielles.
Sixty Six Capital hat die Umwandlung von wandelbaren besicherten Schuldscheinen in Stammaktien auf Wunsch der Gl盲ubiger angek眉ndigt. Das Unternehmen wandelte Schuldscheine im Wert von 3,59 Millionen CAD in 59,82 Millionen Stammaktien zu je 0,06 CAD um und leistete eine zus盲tzliche Zahlung von 1,44 Millionen CAD an einen Gl盲ubiger. Nach der Umwandlung verringerte sich der Anteil des Gro脽aktion盲rs David Rowe von 49,07 % auf 47,05 % der ausstehenden Aktien, w盲hrend der Anteil von Robert Keith von 27,52 % auf 36,54 % stieg. Die Umwandlung hat erhebliche Auswirkungen auf die Kapitalstruktur und die Schuldenverpflichtungen des Unternehmens, wobei beide Gro脽aktion盲re weiterhin bedeutende Eigentumsanteile halten.
Positive
Reduction of debt obligations through conversion of CAD$3.59 million in notes to equity
Simplified capital structure through debt-to-equity conversion
Strong commitment from major shareholders maintaining significant ownership positions
Negative
Significant dilution of existing shareholders through issuance of 59.82 million new shares
Large cash payment of CAD$1.44 million impacting company's cash reserves
Toronto, Ontario--(Newsfile Corp. - June 23, 2025) - Sixty Six Capital Inc. (CSE: SIX) ("Sixty Six" or the "Company") announces that, at request of the holders of certain outstanding convertible secured grid promissory notes (the "Notes"), the Company has converted (the "Conversion") an aggregate principal amount of CAD$3,589,399.75, inclusive of all accrued and unpaid interest, of such Notes, into an aggregate of 59,823,328 common shares (each, a "Common Share") in the capital of the Company at a price of CAD$0.06 per Common Share. In addition, the Company has made a payment in the amount of CAD$1,440,784.42 to a holder of the Notes.
Prior to the completion of the Conversion, Mr. David Rowe beneficially owned or controlled an aggregate of 71,432,845 Common Shares, 2,246,653 stock options and an aggregate US$1,176,000 (CAD2,881,568.40 based on the USD to CAD exchange rate of June 17, 2025) principal amount secured grid promissory note, inclusive of interest, representing approximately 49.07% of the Company's issued and outstanding Common Shares on an undiluted basis and approximately 56.85% on a partially diluted basis. Following the completion of the Conversion and the exercise of certain stock options held by Mr. Rowe, Mr. Rowe beneficially owns and controls, an aggregate of 97,692,571 Common Shares, representing approximately 47.05% of the Company's issued and outstanding Common Shares on an undiluted basis and on a partially diluted basis. Depending on market and other conditions, or as future circumstances may dictate, Mr. Rowe may from time to time increase or decrease his holdings of Common Shares or other securities of the Company. A copy of the early warning report will be available on the Company's issuer profile on SEDAR+ at .
Prior to the completion of the Conversion, Mr. Robert Keith beneficially owned or controlled an aggregate of 40,069,028 Common Shares, and an aggregate US$1,024,000 (CAD$2,148,615.33 based on the USD to CAD exchange rate of June 17, 2025) principal amount secured grid promissory note, inclusive of interest, representing approximately 27.52% of the Company's issued and outstanding Common Shares on an undiluted basis and approximately 41.83% on a partially diluted basis. Following the completion of the Conversion, Mr. Keith beneficially owns and controls, an aggregate of 75,879,283 Common Shares, representing approximately 36.54% of the Company's issued and outstanding Common Shares on an undiluted basis and on a partially diluted basis. Depending on market and other conditions, or as future circumstances may dictate, Mr. Keith may from time to time increase or decrease his holdings of Common Shares or other securities of the Company. A copy of the early warning report will be available on the Company's issuer profile on SEDAR+ at .
About Sixty Six Capital
Sixty Six is an investment company specialising in crypto and AI assets.
For more information, please visit:
For more information, please contact:
David Rowe Chief Executive Officer 15 Percy Street London W1T 1DS United Kingdom Tel: +44 207 1268354
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at . Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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FAQ
What is the conversion price for Sixty Six Capital's (HYHDF) convertible notes?
The convertible notes were converted at a price of CAD$0.06 per common share.
How many new shares did Sixty Six Capital issue in the debenture conversion?
Sixty Six Capital issued 59,823,328 new common shares through the conversion of the notes.
What is David Rowe's ownership percentage in Sixty Six Capital after the conversion?
Following the conversion, David Rowe owns 47.05% of Sixty Six Capital's outstanding common shares.
How much debt did Sixty Six Capital convert to equity?
The company converted CAD$3,589,399.75 of debt, including accrued interest, into equity.
What is Robert Keith's new ownership stake in Sixty Six Capital following the conversion?
After the conversion, Robert Keith owns 36.54% of Sixty Six Capital's outstanding common shares.
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