ST. HELIER, Jersey, May 5, 2016
/CNW/ - EastSiberian Plc ("EastSiberian" or the "Corporation")
announces that negotiations involving a third party in respect of a
possible strategic business transaction that could include either a
transaction whereby the third party would acquire all of the issued
and outstanding shares of EastSiberian or of substantially all of
the assets of EastSiberian continue but no resolution has been
reached to date.
Trading of the common shares of EastSiberian has been halted
since June 2014 to permit
EastSiberian to explore potential opportunities. Trading will not
resume trading until certain requirements of the TSX Venture
Exchange have been satisfied.
A further news release will be issued in the event that a
strategic transaction is entered into or if negotiations with such
transaction is terminated, which is expected by June 30, 2016. There can be no assurance that any
strategic transaction will proceed.
About EastSiberian
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.
The Corporation announced previously that the common shares of
EastSiberian are halted currently from trading on the NEX at the
request of the Corporation. The common shares will remain
halted until trading is permitted to resume, all in accordance with
the policies of the TSX Venture Exchange and 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 negotiate the terms of the proposed strategic
transaction involving either the shares and/or assets of the
Corporation and enter into a definitive agreement
regarding such strategic transaction, the trading of the
shares of the Corporation, future news releases to be issued by the
Corporation and the timing of such negotiations and news
release.
Undue reliance should not be placed on forward-looking
statements, which are inherently uncertain, are based on estimates
and assumptions, 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.
Actual results will differ, and the difference may be material and
adverse to EastSiberian and its shareholders. In particular,
there can be no assurance that a definitive agreement will
be entered into or that any strategic transaction will proceed as
proposed or at all.
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