Report of Foreign Issuer (6-k)
March 13 2015 - 6:02AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or
15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2015.
Commission File Number 001-32399
BANRO CORPORATION
(Translation of registrants name into English)
1 First Canadian Place
100 King Street West,
Suite 7070
Toronto, Ontario, Canada
M5X
1E3
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F
Form 20-F [ ] Form
40-F [X]
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1):[ ]
Note: Regulation S-T Rule 101(b)(1) only permits the
submission in paper of a Form 6-K if submitted solely to provide an attached
annual report to security holders.
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7):[ ]
Note: Regulation S-T Rule 101(b)(7) only permits the
submission in paper of a Form 6-K if submitted to furnish a report or other
document that the registrant foreign private issuer must furnish and make public
under the laws of the jurisdiction in which the registrant is incorporated,
domiciled or legally organized (the registrants home country), or under the
rules of the home country exchange on which the registrants securities are
traded, as long as the report or other document is not a press release, is not
required to be and has not been distributed to the registrants security
holders, and, if discussing a material event, has already been the subject of a
Form 6-K submission or other Commission filing on EDGAR.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
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BANRO CORPORATION |
|
|
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/s/
Kevin Jennings |
Date: March 12, 2015 |
Kevin Jennings |
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Chief Financial Officer |
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INDEX TO EXHIBITS
-3-
Banro Provides Update on Note Indenture Consent
Solicitation
Toronto, Canada March 12, 2015 Banro Corporation
("Banro" or the Company) (NYSE MKT - "BAA"; TSX - "BAA") reports that, further
to its February 27, 2015 press release announcing the Companys US$100 million
financing (the Financing), it has mailed to holders of the Companys
outstanding 10% senior secured notes (the Notes) a consent solicitation
statement and accompanying consent form (the Consent Documents). Copies of the
Consent Documents have been filed on, and can be obtained from, SEDAR at
www.sedar.com and EDGAR at www.sec.gov. Copies of the Consent Documents can also
be obtained from Banros website at www.banro.com.
As previously reported, the completion of the second Twangiza
gold forward sale transaction and the Namoya gold streaming transaction is
subject to certain amendments (the Amendments) being made to the Companys
Note Indenture dated March 2, 2012 (the Note Indenture) pursuant to which the
Notes were issued and to the related Collateral Trust Agreement in order to
secure the gold delivery obligations under the agreements entered into in
connection with the Financing. The Amendments require the consent of the holders
of a majority of the aggregate principal amount of the Notes outstanding under
the Note Indenture. The Company is soliciting the consent of Note holders to the
Amendments pursuant to the Consent Documents. In connection with this
solicitation and as previously reported, investment funds managed by Gramercy
Funds Management LLC (Gramercy) and funds under management by BlackRock
Investment Management (UK) Limited, which together with Gramercy control in
excess of 50% of the aggregate principal amount of the Notes, have entered into
support agreements with the Company pursuant to which they have agreed to
consent to the Amendments in respect of their Notes. The Companys financial
advisor, CIBC World Markets Inc., is acting as solicitation agent with respect
to the solicitation.
Banro Corporation is a Canadian gold mining
company focused on production from the Twangiza mine, which began commercial
production September 1, 2012, and completion of its second gold mine at Namoya
located approximately 200 kilometres south of the Twangiza gold mine. The
Companys longer term objectives include the development of two additional
major, wholly-owned gold projects, Lugushwa and Kamituga. The four projects,
each of which has a mining license, are located along the 210 kilometre long
Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the
Democratic Republic of the Congo. Led by a management team with extensive gold
and African experience, the initial focus of the Company is on the mining of
oxide material, which has a low capital intensity to develop but also attracts a
lower technical and financial risk to the Company. All business activities are
followed in a socially and environmentally responsible manner.
Cautionary Note Concerning Forward-Looking
Statements. This press release contains forward-looking
statements. All statements, other than statements of historical fact, that
address activities, events or developments that the Company believes, expects or
anticipates will or may occur in the future (including, without limitation, statements regarding the
closing of the second Twangiza gold forward sale and the Namoya gold streaming
transactions and the anticipated effect of the said transactions on the
Companys operations and financial condition) are forward-looking statements.
These forward-looking statements reflect the current expectations or beliefs of
the Company based on information currently available to the Company.
Forward-looking statements are subject to a number of risks and uncertainties
that may cause the actual results of the Company to differ materially from those
discussed in the forward-looking statements, and even if such actual results are
realized or substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on the Company. Factors that could
cause actual results or events to differ materially from current expectations
include, among other things: failure to complete the second Twangiza gold
forward sale and the Namoya gold streaming transactions, and the other risks
disclosed under the heading "Risk Factors" and elsewhere in the Company's annual
information form dated March 29, 2014 filed on SEDAR at www.sedar.com and EDGAR
at www.sec.gov. Any forward-looking statement speaks only as of the date on
which it is made and, except as may be required by applicable securities laws,
the Company disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or results or
otherwise. Although the Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.
For further information, please visit the Banro website at
www.banro.com, or contact:
Naomi Nemeth,
Banro Investor Relations, +1 (416) 366-9189, +1-800-714-7938, Ext. 2802, IR@banro.com, and follow Banro on Twitter
@banrocorp.
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