GREY:MKRYF - Post by User
Comment by
hintonkidon Aug 25, 2017 11:21am
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Post# 26621516
RE:MEI NR about Merger and new Financing where is it ?
RE:MEI NR about Merger and new Financing where is it ?Patience Grasshopper.
The last press release indicated that the financing arrangement should be completed on or about September 15, 2017. Manitok is negotiating for a total of $132 Million and there are probably a good many details that have to be worked through between the parties. The lenders have as much to gain from the closing of the deal between Manitok and Questfire as the two companies do. There is a lot going on behind the scenes and it does take time to integrate the Questfire assets into the Manitok asset base including the transfer and reregistration of drilling leases with the province, etc. and I imagine that the province will probably have a few things to go over with them as well like re-evaluating Manitok's Provincial Tax Base in light of the transaction and negotiating an agreement regarding the transfer of responsibility to Manitok for any of Questfire Energy's orphan wells/decommissioned wells along with a whole host of other things. It goes with the territory. It will get done. It just takes a while.