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Obviously management is having a problem completing the PP

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Sam Dan Member Level  Thursday, 05/30/19 08:49:40 AM
Re: None
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Obviously management is having a problem completing the PP
to fund the proposed merger. Share price will be limited until the PP is completed.
Hope it isn't too difficult to complete.
"TSXV: FURA, OTC: FUGMF and FRA: BJ43) announces the extension of the drop dead date for the closing of the Merger of Ruby Assets Agreement dated July 14, 2018, as amended (the “MRAA”). In accordance with the MRAA, on May 28, 2019, the Company gave New Energy Minerals Ltd. (formerly known as Mustang Resources Ltd.) written notice to extend the drop-dead date of the MRAA from May 31, 2019 to June 30, 2019.
The MRAA contemplates the purchase and sale by Fura of interests in three ruby licenses/concessions in Mozambique as follows: (i) 75% of the issued shares of Montepuez Minerals Pty Ltd., which owns a 70% interest in mining licence 5030L and an 80% interest in mining concession 8921C; and (ii) a right to earn a 65% interest in mining concession 8955C under a joint venture agreement (collectively, the “New Energy Assets”). Please see the Company’s press release dated November 29, 2018 for further details regarding the terms of this proposed acquisition. The transaction remains subject to the approval of the TSX Venture Exchange."


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