Replies to post #10006 on Supurva Healthcare Group Inc (SPRV)

[LCLiving]

http://www.investorshub.com/boards/read_msg.asp?Message_id=18910934&txt2find=financing

[LCLiving]

April 9, 2007 - 9:30 AM EDT
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WRNW 0.01 -0.001
Today 5d 1m 3m 1y 5y 10y

Well Renewal Completes One Million Dollar Fundraising

TULSA, Okla., April 9, 2007 (PRIME NEWSWIRE) -- Well Renewal, Inc. (Pink Sheets:WRNW), a rapidly growing diversified oil and gas regional operator specializing in oil and gas exploration, enhanced recovery methods of abandoned and low-production oil properties, oil field services and petrochemical distribution, today announced the completion of approximately one million dollars in funding since February 2007. The monies raised will be used to target and acquire additional oil field leases and energy services companies.

"WRNW has obtained adequate funding for the foreseeable future," stated CEO David Rees. "WRNW is now in a position to continue its organic and acquisition-led growth, along with positioning WRNW as a key player in northeast Oklahoma's oil and gas market."

"More specifically, WRNW is pleased to welcome Parker Anderson Investment, LLC as a major corporate investor. We will be working with Parker Anderson on several strategic initiatives that also involve property working interests," stated Rees.

[Zorro]

From what I've been able to research a binding LOI is fairly uncommon. More common are non-binding LOI. A binding LOI constitutes a legal agreement that can be pursued in a court of law and are sometimes issued when there is a time constraint. So it looks like however the agreement is written both sides have accepted its terms predicated on Wells DD of Team within that 60 day period.