Debenture Offering is now "Closed"Issuer: Long Run Exploration Ltd. 6.40% Convertible Debentures Short Description: Treasury Offering of Convertible Unsecured Subordinated Debentures via Bought Deal Size of Issue: Approximately $75 million Category: Convertible Debentures Prospectus: Available on or about January 15 2014 Product Information: Not yet available Price: $100.00 CDN per $100 par value Yield: Dividend: 6.40% per annum, payable semi-annually Maturity: Jan 31, 2019 Pricing Date: Settlement Date: On or about January 28, 2014 Symbol: RSP Eligible: Yes RSP Content Domestic Lot Size: 1,000 Min. Quantity: 1,000 Max. Quantity: 100,000 Description: Please note that this offering is not available to residents of Québec, Yukon, Nunavut or Northwest Territories. Coupon is 6.40% per annum payable semi-annually on the last business day of January and July in each year commencing July 31, 2014. The July 31, 2014 interest payment will represent accrued interest for the period from the Closing Date to July 31, 2014. The Convertible Debentures will be convertible at the holder’s option into fully-paid, freely tradable Common Shares of the Company at any time prior to the earlier of the business day immediately preceding the Maturity Date and the business day immediately preceding the date fixed for redemption by the Company at a conversion price of $7.40 per Common, representing an approximate 40% conversion premium. The Conversion Price shall be subject to standard anti-dilution adjustments upon, among other things, share consolidations, share splits, spin-off events, rights issues, reorganization and for the incremental amount of any dividends or distributions paid to common shareholders beyond a dividend threshold of $0.0335 per month. If a holder elects to convert its Convertible Debentures in connection with a Change of Control that occurs prior to Maturity, the holder will be entitled to receive additional Common Shares as a make-whole premium on conversion in certain circumstances as provided below under Change of Control. The Convertible Debentures will not be redeemable prior to January 31, 2017. On or after January 31, 2017 and prior to January 31, 2018, the Convertible Debentures may be redeemed in whole or in part at the option of the Company on not more than 60 days and not less than 30 days prior notice at a price equal to their principal amount plus accrued and unpaid interest, provided that the Current Market Price on the date on which the notice of redemption is given is not less than 125% of the Conversion Price. On or after January 31, 2018 and prior to the Maturity Date, the Convertible Debentures may be redeemed in whole or in part at the option of the Company on not more than 60 days and not less than 30 days prior notice at a price equal to their principal amount plus accrued and unpaid interest. The Company has the option to satisfy its obligation to repay the principal amount of the Convertible Debentures including all or any accrued and unpaid interest thereon, in whole or in part, due upon redemption or at maturity upon at least 40 days’ and not more than 60 days’ prior notice, by delivering that number of freely tradable Common Shares obtained by dividing the principal amount of the Convertible Debentures by 95% of the Current Market Price on the date of redemption or maturity, as applicable. Please refer to "Markets and Research" within WebBroker for more information on this company. The issuer's website can be found at www.longrunexploration.com Please refer to the prospectus for full details of this offering. Prov. Restrictions: Quebec, Yukon, Northwest Territories, Nunavut Status: Closed