Dye & Durham Corrects False Statements Made by Plantro

Executive Summary

• Dye & Durham refutes factual inaccuracies in Plantro Ltd.’s press release and re‑affirms its ongoing strategic review process.
• The company confirms it can use up to $30 million of proceeds from the Credas sale to repay a portion of its revolving credit facility, keeping covenant utilization below the 35 % threshold at quarter‑end.
• Management states that, with the Credas proceeds and normal cash management, the company will remain in compliance with its debt covenants through March 31, 2026.

Key Details

• Plantro’s press release contained “several factual inaccuracies” regarding Dye & Durham’s strategic review and financial position.
• CIBC, the Company’s financial advisor, is engaged directly with Plantro to understand its proposal.
• Credas sale proceeds: up to $30 million may be applied to repay the revolving credit facility.
• Repayment of this amount will reduce revolver draws to below 35 % of the covenant limit at quarter‑end.
• The covenant test is applied only at quarter‑end; with Credas proceeds and normal operating cash management, compliance is expected to be maintained as of March 31, 2026.

Notable Quotes

“Dye & Durham is fully committed to a comprehensive strategic review process and CIBC, the Company's financial advisor, has engaged directly with Plantro to understand its proposal.” – Company statement

All boilerplate, forward‑looking disclaimer text, and company background have been omitted for clarity.