Long Run Explor Ltd Ord WFREF

LRE funding news IN CASE YOU MISSED IT

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CALGARY, ALBERTA--(Marketwired - Nov. 26, 2015) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) has been advised by the escrow agent that it has received the $10 million required to be deposited in escrow by November 30, 2015 in connection with the proposed private placement with Maple Marathon Investments Limited ("Maple Marathon"). The escrow funds are being held by the escrow agent in Canada.

The escrow funds will be applied to Maple Marathon's subscription under the proposed private placement of $100 million and would also be utilized to satisfy amounts that are payable to Long Run by Maple Marathon or reimbursement of Long Run's expenses in certain circumstances. Long Run and Maple Marathon continue to work toward the completion of the proposed private placement, which is expected to occur in late January 2016 following the receipt of regulatory and shareholder approvals.