CALGARY, Alberta, June 27, 2024 (GLOBE NEWSWIRE) -- FLINT Corp. ("FLINT") (TSX:FLNT) is pleased to announce that Canso Investment Counsel Ltd., in its capacity as portfolio manager for and on behalf of certain accounts that it manages ("Canso"), and sole holder of its 8% senior secured debentures due October 14, 2027 (the "Senior Secured Debentures"), has agreed to accept the issuance of Senior Secured Debentures on June 30, 2024 with a principal amount of $5,205,194 in order to satisfy the interest that would otherwise become due and payable on such date (the "Payment in Kind Transaction"). The Payment in Kind Transaction is permitted at the discretion of Canso under the terms of the amended trust indenture governing the Senior Secured Debentures. The Payment in Kind Transaction allows FLINT to retain the cash to fund its ongoing operations and strengthen its financial situation. In addition, the Payment in Kind Transaction will assist FLINT to maintain compliance with the covenants under its asset-based revolving credit facility. Following the Payment in Kind Transaction, the principal amount of Senior Secured Debentures outstanding will be approximately $135.3 million at June 30, 2024. About FLINT Corp. With a legacy of excellence and experience stretching back more than 100 years, FLINT provides solutions for the Energy and Industrial markets including: Oil & Gas (upstream, midstream and downstream), Petrochemical, Mining, Power, Agriculture, Forestry, Infrastructure and Water Treatment. With ...