Long Run Explor Ltd Ord WFREF

Really?! Extended to July 29, 2016

[TOMMY1]

June 16, 2016

Long Run Exploration Ltd. Provides Update on Arrangement

 

CALGARY, ALBERTA--(Marketwired - June 16, 2016) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) announces that Calgary Sinoenergy Investment Corp. (the "Purchaser") has extended the outside date of the proposed plan of arrangement involving Long Run, the Purchaser and the Long Run securityholders (the "Arrangement") to July 29, 2016. 

The Purchaser has submitted its final documentation for approval with respect to the regulatory review process under theInvestment Canada Act. Long Run and the Purchaser continue to anticipate that the Arrangement will close shortly following, and subject to, the receipt of approval under the Investment Canada Act.

Further details regarding the Arrangement can be found in the Company's information circular and proxy statement dated January 29, 2016 and the addendum thereto, each filed on Long Run's SEDAR profile at www.sedar.com.

[robbie80]

This is how India-origin do business with Chinese. There will be a deal in the end after 3 rounds.

[TOMMY1]

....or three strikes and they're out! I do think the deal will go through, but all the parties involved are taking their own sweet time. Curious what impact this news will have on the share price tomorrow as investors are getting impatient.

[robbie80]

SinoEnergy submitted the final application, an indication of  wanting this deal. SinoEnergy shouldn`t have any problem to raise the fund as its current share price is well above private placement price.   Now it is up to Investment Canada to final approve or deny the application. If application is denied, share price of LRE could drop to around 20 cents comparable with LTS.  If you