Almost 2 years of delays.. Classic!
Keep buying. This will end up in the courtroom.
Mainland Resources, Inc. (the "Company") and American Exploration Corporation ("American Exploration") have agreed to extend the Merger Agreement and Plan of Merger between the parties dated March 22, 2010, as previously amended by a Letter Agreement dated July 28, 2010, an Amending Agreement dated September 7, 2010, an Amending Agreement dated December 23, 2010, an Amending Agreement dated March 14, 2011, an Amending Agreement dated May 17, 2011, and an Amending Agreement dated August 18, 2011 (such agreement, as amended, the "Merger Agreement").
The Merger Agreement is subject to termination by either party if certain conditions specified in the Merger Agreement are not satisfied at or before the "Termination Date," which was previously defined to mean October 31, 2011, or such later date as may be mutually agreed by the parties. Mainland and American Exploration have entered into an amending agreement dated October 31, 2011 which extends the Termination Date to January 31, 2012.
The merger remains subject to various conditions, including the approval of the respective stockholders of each of Mainland and American Exploration.
