CALGARY, ALBERTA–(Marketwired – June 22, 2016) – Long Run Exploration Ltd. (“Long Run” or the “Company”) (TSX:LRE) is pleased to announce that Calgary Sinoenergy Investment Corp. (the “Purchaser”) has received approval under the Investment Canada Act for the acquisition of Long Run by the Purchaser pursuant to the plan of arrangement involving Long Run, the Purchaser and the Long Run securityholders (the “Arrangement”).
Long Run is working with the Purchaser in respect of the foreign exchange mechanics for the delivery of the cash consideration payable under the Arrangement. The closing of the Arrangement will occur as soon as practicable. Further information is expected to be provided by June 29, 2016.
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.