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Waldron Energy to extend outside date for arrangement and equity financing


Published Dec 24, 2013
Waldron Energy Corporation

Waldron Energy Corporation announces that the outside date for the closing of the previously announced arrangement between Waldron, its security holders and Montana Exploration Corp. (the "Arrangement") has been extended to January 31, 2014, subject to closing of the private placement described below. Throughout this extension period, Waldron will be bound by the non-solicitation provisions of the Arrangement.

As consideration for and in conjunction with the extension, ANG Partners, Ltd., an associate of Mr. James W. Collins, a controlling shareholder and member of the Board of Directors of Montana, has subscribed for 4,444,445 Waldron common shares at $0.45 per share for gross proceeds of $2,000,000, subject to stock exchange and other approvals. Waldron intends to make an application to the Toronto Stock Exchange and the Court of Queen's Bench of Alberta, if necessary, for approval of the private placement to ANG Partners, Ltd. and the extension of the outside date for closing of the Arrangement shortly.

Tags: Waldron Energy Corporation




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