Mart Resources Inc MAUXF

Update: Midwestern Financing Status

[radcat]

Mart Resources Updates Midwestern Financing Status

T.MMT| 18 minutes ago

CALGARY, ALBERTA--(Marketwired - July 16, 2015) - Mart Resources, Inc. (TSX:MMT) ("Mart" or the "Company") announces that further to its press release of June 15, 2015, Midwestern Oil & Gas Company Ltd. ("Midwestern") has advised Mart in writing that negotiations are continuing towards the completion of a financing ("Midwestern Financing") sufficient to enable Midwestern to complete the acquisition of Mart's shares.

Under the current terms of the Arrangement Agreement (as amended), Midwestern has until July 26, 2015 to complete the Midwestern Financing. If Midwestern has not completed the Midwestern Financing by July 26, 2015, Mart is able to terminate the Arrangement Agreement and compel Midwestern to provide to Mart the benefit of the CAD$5.8 million reverse break fee contemplated by the Arrangement Agreement (as amended).

Additional information regarding Mart is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.

Read more at https://www.stockhouse.com/news/press-releases/2015/07/16/mart-resources-updates-midwestern-financing-status#PzWklekqIp5hXmep.99

[lastpick]

MW financing negotions "ongoing" slowly, while they continue to steal MMT shares way below the offered price of 80 cents. Less financing needed as time goes on!! Hold your shares!

[LAMBO]

......Midwestern Oil & Gas Company Ltd. ("Midwestern") has advised Mart in writing that negotiations are continuing towards the completion of a financing ("Midwestern Financing") sufficient to enable Midwestern to complete the acquisition of Mart's shares. .....If Midwestern has not completed the Midwestern Financing by July 26, 2015, Mart is able to terminate the

[freedom-1970]

As indicated in the June update they were hoping to close the deal by July 15th, giving us the update now tells us July 29th we will know .. As for Morgan buying, watch they take all the large blocks leaving some for the followers .. 3.6 million they did buy but add another 400 k using the 01 trick ! 

[rrcool53]

Fine print ... "There is no assurance that Mart will be able to collect from Midwestern the reverse break fee contemplated by the Arrangement Agreement (as amended)."

[gibbonsj]

that $5.8M break free means nothing. It's chump change in the scheme of things.  That MMT put out this release of confidence is significant.  SEDI looks good. Probably time to add to your position.

[freedom-1970]

Morgan has no trouble buying everyday at close to control the tape. Amazing how people sell all day and we could be trading in the mind 60 's anyway.. Morgan brokers are going to make a killing on this deal.

[Obeahman]

Gentlemen, this is a f$%^&*( smoke screen. Mart has put this out fr only one reason.....Midwestern has advised them blah blah blah.......because Midwestern is not sure about financing and they wanted to assure the shareholders and potential buyers that all is well.  Let's look at this carefully, right now, the SP has dropped and if it continues to drop who will benefit from this

[freedom-1970]

By next Friday the guys in the loop will make they're move. Witch way is the question? It's show time soon!

[mouserman]

And how , pray tell, can Midwestern keep the share price around .80 AND why is that in their best interests.? As long as the share price languishes under .60, the shareholders who remain will not be complaining about .80 per share they get in the buyout. With MW dragging out this financing process, how in the world could they be buying shares in the .50 to .60 range , and not have a huge lawsuit

[freedom-1970]

Who ever Morgan is buying for must think this is a sure bet, but they have closed the day for month's . Its the sellers dumping that are keeping the price down its from all houses , this kind of buying is a full time job for somebody .. 29th before the open Mart better have us an update 

[bxju]

Morgan may be buying for their house account.  They made billions last year trading stock, made more trading than any other firm in 2014 including Goldman.  I think they may start their traders on these penny stocks and if they can make money here, move them on up. So, they are not insiders and it would be very illegal for a party to a sale to be buying in a lockout period.  Could

[freedom-1970]

I agree Morgan may know a deal when they see one, especially in today's market. But if anybody looked at the tape why would you sell before the close ?  IIROC should be watching this story ..

[mouserman]

The sellers of Mart shares of late, are painting MART with the same brush as many of the oil producers who are losing money at these prices. AND most of those do NOT have a buyout at 50% above the current market valuation coming in less than a week. Obvious that they are comletely ruling out MW bid going thru. Other than Morgan Stanley there has been very little for buying, other than some of us