OTCPK:MAUXF - Post by User
Post by
gibbonsjon Jun 15, 2015 7:59pm
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Post# 23833367
The extension is of least concern
The extension is of least concernThe red flag I see is MMT did not excercise its right to seek its own financing or purse an altennative purchaser. I take this to mean there is no hope for MMT beyond MW. Suddenly those few remaining conditions that were reportedly holding the financing back have become more than just a curiosity. Whatever the issues are they must be significant.
Midwestern is to provide copies of written binding commitments that have been entered into with investors in the Proposed Financing on or before May 15, 2015 (the "Commitment Date"). In the event such copies are not received to the reasonable satisfaction of Mart on or prior to the Commitment Date, Mart (i) shall be permitted to provide due diligence access to certain eligible persons equivalent to that which has been provided to Midwestern; and (ii) may adjourn or postpone any meeting of Mart shareholders previously called to approve the Arrangement. Notwithstanding the foregoing, the Arrangement Agreement contemplates that Midwestern will have the right to satisfy the Financing Condition through to June 15, 2015 and complete the Arrangement in accordance with the terms of the Arrangement Agreement.
Read more at https://www.stockhouse.com/news/press-releases/2015/03/16/mart-enters-definitive-arrangement-agreement-with-midwestern#3r9BM0BI8XlJZC3b.99