Huntingdon makes offer to purchase debentures pursuant to indenture

RICHMOND, BC, Oct. 6, 2014 /CNW/ - Huntingdon Capital Corp. (the "Corporation" or "Huntingdon") (TSX: HNT) (TSX: HNT.DB) (TSX: HNT.WT) announced today that the Corporation has sent Huntingdon debentureholders notice of a change of control and an offer to purchase the 7.5% secured debentures of Huntingdon due on December 31, 2016 (the "Debentures").

As announced on August 12, 2014, Huntingdon entered into an arrangement agreement pursuant to which Slate Capital Corporation has agreed to acquire all of the issued and outstanding common shares of Huntingdon and fund the acquisition of all of the unexercised common share purchase warrants of Huntingdon listed on the Toronto Stock Exchange by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"). Under the Arrangement, each common share of Huntingdon will entitle the holder thereof to receive CDN$13.25 in cash, and each warrant of Huntingdon will entitle the holder thereof to receive CDN$13.25 in cash less the exercise price for such warrant.

Under the indenture governing the Debentures (the "Indenture"), debentureholders are entitled to have their Debentures purchased by Huntingdon in connection with a change of control of Huntingdon, such as the Arrangement. Accordingly, pursuant to the Indenture, Huntingdon has offered, conditional upon the completion of the Arrangement, to purchase all of the Debentures at a price equal to 101% of the principal amount of the Debentures plus accrued and unpaid interest, if any, on such Debentures up to, but excluding, the date of acquisition by Huntingdon of the Debentures.

For Debentures to be repurchased, the necessary documentation, including the completed Irrevocable Notice of Acceptance and original Debenture certificate, must be received by Computershare Trust Company of Canada not less than four business days prior to the closing of the Arrangement, being 4:30 PM (PST) on October 15, 2014 (assuming the Arrangement is completed October 22, 2014).

If the Arrangement is not completed, Huntingdon intends to withdraw its offer in accordance with the terms of the Indenture.

The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.

SOURCE: Huntingdon Capital Corp.

Sandeep Manak, President and Chief Executive Officer, Tel: [phone], Fax: [phone], Email: [email protected]