GREY:WFREF - Post by User
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bwlingon May 20, 2016 6:38pm
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Post# 24894166
More delays
More delays Long Run Exploration Ltd. Provides Further Update to Timing of Arrangement
CALGARY, ALBERTA--(Marketwired - May 20, 2016) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) has been advised by Calgary Sinoenergy Investment Corp. (the "Purchaser") that the outside date of the proposed plan of arrangement involving Long Run, the Purchaser and the Long Run securityholders (the "Arrangement") has been extended from May 30, 2016 to June 29, 2016.
Under the Arrangement, the Purchaser has the right to extend the outside date in 30-day increments if the required regulatory approvals have not yet been obtained. The Purchaser and Long Run are progressing through the regulatory review process and continue to anticipate that the Arrangement will close shortly following the receipt of approval under the Investment Canada Act.
Further details regarding the Arrangement can be found in the Company's information circular and proxy statement dated January 29, 2016 and the addendum thereto, each filed on Long Run's SEDAR profile at www.sedar.com.