GREY:WFREF - Post by User
Post by
ROUGE719on Dec 02, 2015 2:12pm
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Post# 24347380
wcrackw then why did they give the 10 million
wcrackw then why did they give the 10 million
Mr. William Andrew reports
LONG RUN EXPLORATION LTD. CONFIRMS DEPOSIT OF $10 MILLION IN ESCROW PURSUANT TO THE PROPOSED PRIVATE PLACEMENT
Long Run Exploration Ltd. has been advised by the escrow agent that it has received the $10-million required to be deposited in escrow by Nov. 30, 2015, in connection with the proposed private placement with Maple Marathon Investments Ltd. 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 approva