Federal approval for sale of Long Run Exploration will take a little more time

Express Staff

The sale of Long Run Exploration to a Chinese investor is still being reviewed by the federal government.

In a news release, the company says Industry Canada has extended its review under the Investment Canada Act by 30 days, from April 30 to May 30.

“Long Run and the Purchaser anticipate that closing the Arrangement will occur shortly, following approval under the Investment Canada Act,” says the news release.

Approval has been given under the Competition Act (Canada), it adds.

Earlier this year, LRE shareholders approved the sale.

It was then forwarded to the federal government for review and approval.

The company has extensive operations in the Peace River region, including near Girouxville, Donnelly and Guy.

The regional administration office is located in Falher.

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