GREY:WFREF - Post by User
Comment by
BlueCollar51on Dec 23, 2015 8:46pm
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Post# 24410330
RE:the funny thing is they are just going to assume lre debt
RE:the funny thing is they are just going to assume lre debt soundandfury wrote: tthe new chinese investors will assume all lre debt??? well why can the chinese investor keep the debt but lre cant....................lre is still making a decent cash flow..............of 140 million a year and if the chinese keep things the same with the same production and number of employees ................what has really changed.??? nothing except we as lre common shareholders loose most of our investment and the bankers have a new guy to pay the bills................hehehe.........with no guarantee the chinese will pay the debt any better than lre would have.
The unnamed purchasers are NOT proposing to assume the debt!
“Long Run also announces that the amended and restated investment agreement (the "Amended Investment Agreement") dated November 8, 2015 between Long Run, Maple Marathon and MIE has been mutually terminated without the payment of a termination or reimbursement fee. Termination of the Amended Investment Agreement will constitute an event of default under the Long Run credit facilities; however, Long Run intends to seek a waiver of such default from its lending syndicate. Closing of the Transaction is conditional upon the consent of Long Run's lending syndicate on terms and conditions satisfactory to the Purchaser and Long Run. Long Run understands that the Purchaser expects to repay the credit facilities in due course following closing of the Transaction in accordance with such terms and conditions.”
As Always; Do Your Own Due Diligence; It’s Your Money !!