TSX VENTURE: OCC
VANCOUVER, Oct. 17, 2014 /CNW/ - Oceanside Capital Corp. (the "Company" or "Oceanside") (TSX VENTURE: OCC) continues to work towards finalizing its due diligence and binding agreements with respect to the two transactions noted below, while continuing to investigate new opportunities that will complement the Company's new strategic business plan.
On September 19, 2014, Oceanside reported that the Company had entered into separate non-binding letter agreements with Guru Fantasy Reports, Inc. ("Guru") and Pick Nation, Inc. and Stevo Design, Inc. (collectively "Picknation"). The Company proposes to complete a change of business transaction, name change and financing commensurate with its business plan subject to shareholder and all regulatory approvals and will enter into separate definitive agreements to acquire each of Guru and Picknation.
Completion of the transactions described in this news release are subject to a number of conditions, including the approval of the TSX Venture Exchange, the requisite approval of the Company's shareholders, satisfactory completion of due diligence by Oceanside and other customary closing conditions. The transactions cannot close until the required shareholder approval is obtained. There can be no assurance that the transactions will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the transactions, any information released or received with respect to the proposed change of business may not be accurate or complete and should not be relied upon. Trading in the securities of Oceanside should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this news release.
SOURCE: Oceanside Capital Corp.
For further information: David Schmidt, director, at (604) 630-6889