Longford Energy Repays Existing Loan
Longford Energy has repaid in full the loan that it obtained from Vast Exploration Inc. from the net proceeds that it received from its recently completed equity financing.
Longford and Vast have common officers and directors, being Stan Bharti and Ahmed Said, who are directors of Longford and Vast; and Gary Lobb and Patrick Gleeson, the Chief Financial Officer and Corporate Secretary, respectively of both Longford and Vast. In addition, Ahmed Said is the President and Chief Executive Officer of both Longford and Vast. As such the loan will be considered a non-arm's length transaction for the purposes of the TSX Venture Exchange.