Cable & Telecom

Craig tweaks loan

WINNIPEG – Craig Wireless is amending the terms of their $11.6 million loan facility to the company. The amendment removes the ‘conversion right’, which is the right to convert all or part of the loan into subordinate voting shares of the company upon maturity of the loan, the press release detailed. Co-CEOs Boyd and Drew Craig said in the release that the decision was made in the best interest of shareholders “in light of the recent volatility of capital markets and the inability to predict the market price of the company's shares upon maturity of the loan.”