Aug 27 (Reuters) - Mart Resources Inc MMT.TO :
* Terminates midwestern transaction
* Advised by midwestern that due to prevailing market conditions it will not be
able to complete the transaction at this time
* Says pursuant to the terms of the arrangement agreement a CAD$5.8 million
reverse break fee is payable to Mart
* Says Mart intends to continue to examine and consider strategic alternatives
available to the company
* Intends to consider strategic alternatives available to co, including
potential for a revised transaction with midwestern
* Significant portion of reverse break fee to be satisfied by midwestern paying
co's nigerian corporate tax liability,other payables
* Says with the termination of the transaction, the company has ceased to
engage wade cherwayko as a consultant
* Midwestern oil and gas company ltd had until August 26, 2015 to complete the
acquisition of all of the common shares of Mart
* Source text for Eikon ID:nMKWJrDN3a
* Further company coverage MMT.TO