- Lightstream Resources (OTC:LSTMF) warns that it could fail to meet a debt payment obligation due in mid-June if it is unable to improve its balance sheet.
- The Canadian company also says its borrowing base was cut to C$250M, giving it 90 days to repay its C$121M credit shortfall or trigger a debt default.
- Lightstream says it is looking at various strategies to help its balance sheet, including asset sales and restructuring, but that funds flow from operations would not fund upcoming junior debt interest payment obligations without such assistance.