Financial Results for the three months ended August 31, 2017
ST. HELIER, Jersey, Nov. 6, 2017 /CNW/ - EastSiberian Plc, ("the Company") reports its unaudited financial results for the period ended August 31, 2017. EastSiberian has filed its Interim Consolidated Financial Statements for the period ended August 31, 2017 and its Management's Discussion and Analysis ("MD&A") on www.sedar.com.
Update on Nicaragua situation
EastSiberian Plc, reported June 29, 2017 that the memorandum of understanding ("MOU") with Pan American Oil Ltd ("PAO") had expired. Under the terms of the Confidentiality Agreement between these 2 companies, PAO is restricted from pursuing certain oil and gas exploration and development opportunities in Nicaragua identified by the Company. However, it has come to the attention of EastSiberian that PAO has independently applied for the very same concessions introduced to PAO by EastSiberian. This is in direct conflict with the existing Confidentiality Agreement. The company has tried to contact both the Nicaragua Government and PAO to get clarity on the situation but to date has not had a response. EastSiberian is considering all legal actions open to it including arbitration as outlined in the Confidentiality Agreement. Concerned shareholders are invited to contact Graeme Phipps for additional information regarding this situation.
EastSiberian is an international junior oil exploration company incorporated in the Bailiwick of Jersey. For further information, please visit the EastSiberian Plc website at www.eastsiberianplc.com. The common shares of the Corporation are listed currently on the NEX.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Advisory Regarding Forward-Looking Statements
This press release contains certain forward-looking statements and forward-looking information (collectively referred to as "forward looking statements") within the meaning of Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking information typically contains statements with words such as "anticipate", "believe", "plan", "continuous", "estimate", "expect", "may", "will", "project", "should" or similar words suggesting future outcomes and includes statements regarding the expectation that the Corporation will enter into a definitive agreement regarding the sale transaction and the terms of the sale transaction.
Undue reliance should not be placed on forward-looking statements, which are inherently uncertain and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. There can be no assurance that the plans, intentions or expectations upon which forward-looking statements are based will in fact be realized.
The forward-looking statements contained in this press release are made as of the date hereof and EastSiberian does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
SOURCE EastSiberian Plc
For further information: EastSiberian Plc, Graeme Phipps, President, 9 Esplanade, St. Helier, Jersey, Tel: +44 7733 363 016 or +1 403 630 2367, Email: [email protected]