CALGARY, ALBERTA–(Marketwired – Feb. 16, 2016) – Long Run Exploration Ltd. (“Long Run” or the “Company”) (TSX:LRE) is pleased to announce that Institutional Shareholder Services Inc. (“ISS”) has recommended that Long Run shareholders vote in favor of the arrangement involving Long Run, Long Run securityholders and Calgary Sinoenergy Investment Corp. (the “Arrangement”). ISS is a leading independent provider of corporate governance and proxy voting analysis, whose recommendations are relied on by many major institutions and securityholders to assist in making informed proxy voting decisions that are in the best interest of shareholders.
In recommending its clients vote in favor of the Arrangement, ISS stated: “The all-cash transaction makes strategic sense as it provides certainty of value and near-term liquidity to company shareholders in a challenging energy commodities environment and the company’s current constrained financial position.”
After an extensive review of the Company’s strategic and financial options to improve its capital structure, Long Run’s Board of Directors and management believe that pursuing the Arrangement is in the best interest of Long Run and its stakeholders. Long Run’s Board of Directors unanimously recommends that shareholders and debentureholders vote in favor of the Arrangement.
Long Run has scheduled a special meeting (the “Special Meeting”) of securityholders to vote on the Arrangement to be held at 2:00 pm (Calgary time) on February 29, 2016 at the Livingston Place Conference Centre, 222 – 3rd Avenue SW, Calgary, Alberta. Securityholders may attend the Special Meeting in person or be represented by proxy. Further details can be found in Long Run’s information circular and proxy statement dated January 29, 2016 and the addendum thereto, each filed on SEDAR.
For more information or assistance in voting your Long Run securities, please contact D.F. King at 1-800-833-2158 (toll-free), 201-806-7301 or by email at firstname.lastname@example.org.