/EINPresswire.com/ -- MONTREAL, QUEBEC--(Marketwired - Apr 12, 2017) - Rogers Sugar Inc. (the "Corporation") (TSX:RSI) announced today that it will be repaying, in cash, its currently outstanding $49.565 million in principal of 5.7% convertible unsecured subordinated debentures due April 30, 2017 (the "Debentures") upon their maturity date.

The Corporation will pay to each holder of Debentures, on May 1, 2017, an amount equal to the principal amount of the Debentures plus accrued and unpaid interest up to, but excluding, the maturity date, which is estimated to total $1.4 million ($28.50 per $1,000 principal amount of Debentures). The Debentures are convertible, at the holder's option, into common shares of the Corporation up to April 28, 2017 at 5:00p.m. at a conversion price of $6.50 per share.

In order for the Corporation to satisfy its obligations, the Corporation's wholly-owned subsidiary, Lantic Inc. ("Lantic") will lend to the Corporation the required funds which Lantic will draw from its revolving credit facility.

About Rogers Sugar Inc.

The Corporation is a corporation established under the laws of Canada. The Corporation holds all of the common shares of Lantic Inc. Lantic Inc. operates cane sugar refineries in Montreal, Quebec and Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. Lantic Inc.'s sugar products are marketed under the "Lantic" trademark in Eastern Canada, and the "Rogers" trademark in Western Canada and include granulated, icing, cube, yellow and brown sugars, liquid sugars and specialty syrups.