LEVITTOWN, NY, Nov. 5, 2013 /CNW/ - Far Vista Petroleum Corp (FVSTA, PinkSheets)
The president, Alexander Plekhanov, is pleased to announce to its
shareholders that an offer of purchase was presented by a financial
institution to Far vista Petroleum Corp. The amount of $35 million was
offered for the purchase of the Class B shares and $0.45 for all the
outstanding shares of the Company.
The Board has advised Mr Plekhanov that the offer is insufficient for
its shareholders and to immediately forward a proposal stating that the
Board is willing to accept an offer of $35 million for the Class B
stock and $0.62 per common share on condition that it is not a
mandatory sale but is open to the individual shareholder's discretion
to sell or refuse the offer. This counter offer is open for acceptance
until 12:00 November 7, 2013.
Upon acceptance, the Mr Plekhanov will release to the shareholders the
name of the financial institution (Bank) that has made the offer.
About Far Vista Petroleum Corp
Far Vista Petroleum Corp has business objectives of interacting with
Russian operators in the oil/gas industry with the goal of building a
vertically integrated petroleum company based on opportunities
available in the Russian Federation. This will be accomplished through
acquisitions of interests to develop crude oil sites with proven
reserves by means of equity investment or joint ventures.
This news release contains "forward-looking statements," as that term is
defined in Section 27A of the United States Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Statements in this
press release that are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future.
SOURCE: Far Vista Petroleum Corp.
For further information:
Contact: Alexander Plekhanov