Post by
wallywill on Mar 02, 2016 9:08am
Fund secured?
Mart Resources Announces Third Amending Agreement CALGARY, ALBERTA--(Marketwired - March 2, 2016) - Mart Resources, Inc. (TSX:MMT) ("Mart" or the "Company") announces that further to its prior press releases, San Leon Energy Plc ("San Leon"), Midwestern Oil & Gas Company Limited, 1038221 B.C. Ltd. ("Acquireco") and Mart have mutually agreed, pursuant to the terms of a third amending agreement (the "Third Amending Agreement"), to amend the terms of the arrangement agreement dated January 21, 2016, as amended (the "Arrangement Agreement") to extend the obligation of Acquireco to deposit into escrow the purchase price to be paid to Mart shareholders and certain transaction costs until 5:00 p.m. (Calgary time) on Tuesday, March 8, 2016. The Third Amending Agreement also grants San Leon an extension for the completion of the San Leon financing. San Leon has announced it has secured the funds necessary to complete the transaction in its press release of March 2, 2016. Other than certain corresponding date changes, all other material terms of the Arrangement Agreement remain unchanged. A copy of the Third Amending Agreement will be filed later today under the Company's profile on SEDAR at www.sedar.com. Mart's intends to proceed with the special meeting of shareholders and optionholders scheduled for 9:00 a.m. (Calgary time) on March 3, 2016 at the Calgary Petroleum Club, 319 Fifth Avenue S.W., Calgary, Alberta. Proxy Materials were mailed to all shareholders and optionholders of record on February 2, 2016. The completion of the transaction continues to be subject to the satisfaction of the San Leon financing condition, the deposit into escrow the purchase price to be paid to Mart shareholders and certain transaction costs with the Depositary and receipt of a final order of the Alberta Court of Queen's Bench approving the terms of the transaction. The application for the final order has been re-scheduled to March 10, 2016.
Comment by
Shlinker_ on Mar 02, 2016 9:14am
"San Leon has announced it has secured the funds necessary to complete the transaction in its press release of March 2, 2016." Just checked, no press release, liars.
Comment by
Shlinker_ on Mar 02, 2016 9:25am
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SLE/12721072.html Ok, finally.
Comment by
ellorno on Mar 02, 2016 9:26am
It's there now.. https://www.sanleonenergy.com/media-centre/news-releases/2016/march/2/funding-secured-for-mart-arrangement-agreement.aspx