And AGAIN!!! February 25, 2016 09:00 ET
Mart Resources Announces Second Amending Agreement
CALGARY, ALBERTA--(Marketwired - Feb. 25, 2016) - Mart Resources, Inc. (TSX:MMT) ("Mart" or the "Company") announces that further to its press releases of January 22, 2016 and February 18, 2016, respectively, San Leon Energy Plc ("San Leon"), Midwestern Oil & Gas Company Limited, 1038221 B.C. Ltd. ("Acquireco") and Mart have mutually agreed, pursuant to the terms of a second amending agreement (the "Second Amending Agreement"), to amend the terms of the arrangement agreement dated January 21, 2016, as amended on February 17, 2016 (the "Arrangement Agreement") to extend the obligation of Acquireco to deposit into escrow the purchase price to be paid to Mart shareholders and certain transaction costs until 5:00 p.m. (Calgary time) on Tuesday, March 1, 2016.
The Second Amending Agreement also grants San Leon an extension for the completion of the San Leon financing, a process that San Leon has announced has advanced considerably over the last week in its press release dated February 25, 2016. Other than certain corresponding date changes, all other material terms of the Arrangement Agreement remain unchanged. A copy of the Second Amending Agreement will be filed later today under the Company's profile on SEDAR at www.sedar.com.
Mart's special meeting of shareholders and optionholders is scheduled to occur at the Calgary Petroleum Club, 319 Fifth Avenue S.W., Calgary, Alberta on March 3, 2016 at 9:00 a.m. (Calgary time). Proxy Materials were mailed to all shareholders and optionholders of record on February 2, 2016. Proxies must be received by Computershare Trust Company of Canada no later than 9:00 a.m. (Calgary time) on March 1, 2016.