A share offering for West Central Road and Rail Ltd. has been extended until June 30, 2000.
The Saskatchewan Securities Commission granted the extension in light of uncertainty over future federal rail transportation policy.
The share offering was slated to close Dec. 15, by which time West Central was to have reached an agreement with CN Rail for the purchase of a network of branch lines in western Saskatchewan.
Negotiations have been under way since February 1998. West Central wants to run the lines as a short-line rail company.
Policy unknown
WCRR requested the extension given the recent release of the Kroeger report on grain transportation reform, and Canadian Transportation Agency hearings into the values of branch lines, scheduled to get under way in Saskatoon Nov. 15.
West Central, which has more than 1,700 shareholders, completed an initial closing of its share offering in March 1999.
