High River Gold Mines Ltd HRIVF

RE: RE: RE: RE: Prognoz - Great news

[bart_dc]

https://www.istockanalyst.com/article/viewiStockNews/articleid/2855568
this press release at the end of 2008 was probably the issue that led to the 'battle' for the whole of Prognoz that started with the court appeal and now the bankruptcy proceedings.
HRG wanted the whole of Prognoz but couldn't buy it and now they want a 'better price'.
Good for us as shareholders!
Great things to come...

TORONTO, ONTARIO -- (Marketwire) -- 12/04/08 -- High River Gold Mines Ltd. ("High River" or the "Corporation") (TSX: HRG) advises that the closing date of the previously announced acquisition of the remaining 50% interest in the Prognoz Silver Project ("Prognoz") has not been extended and the Prognoz Agreement (as defined below) has been terminated.
The proposed acquisition of the remaining interest in Prognoz was pursuant to a share purchase agreement, as amended (the "Prognoz Agreement"), which was to have closed no later than November 30, 2008, unless otherwise extended by the mutual agreement of the parties thereto. The parties were unable to agree to mutually satisfactory terms for the extension of the agreement, with the result that the Prognoz Agreement has been terminated in accordance with its terms. The transaction required the approval of the Ministry of the Russian Federation for Anti-Monopoly Policy and Support of Businesses, which as of the date hereof, has not been received.