VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 21, 2017) - Petro Vista Energy Corp. (TSX VENTURE:PTV) ("Petro Vista" or the "Company"), announces that its shareholders and the board of directors of the Company (the "Board") have approved a return of capital distribution (the "Return of Capital") of $0.0471 per share of the Company (each, a "Share"). The Return of Capital will be paid to all registered shareholders of record as at the close of business on May 12, 2017.
The Return of Capital will be made in accordance with the "due bill" trading procedures of the TSX Venture Exchange (the "Exchange"). The purpose is to have traded shares carry the value of the Return of Capital until it is paid. A due bill will notionally represent the Return of Capital of $0.0471 per Share which a holder of a Share is entitled to receive. A due bill will attach to each Share traded from the second trading day before the record date for the Return of Capital until May 26, 2017 (the "Payment Date"), being the date the Return of Capital is paid. Based on the Payment Date, the due bill period for the Return of Capital will be May 10, 2017 to May 26, 2017. Anyone acquiring a Share up to and including May 26, 2017 will be entitled to receive the Return of Capital. The Shares will commence trading on an ex-distribution basis (without an attached "due bill" entitlement) effective from the opening of trading on May 29, 2017, the next trading day following the Payment Date. The due bill redemption date will be May 31, 2017 (the second trading day after the ex-distribution date, when all trades with due bills attached have settled).
Shareholders do not need to take any action. Computershare Investor Services Inc., the Company's transfer agent, will send to registered shareholders funds representing the return of capital and beneficial shareholders will have their brokerage accounts automatically updated to reflect the Return of Capital.
Eligible shareholders are strongly cautioned to consult with their financial, broker, legal, tax and/or investment advisors regarding any matters pertaining to the Return of Capital and the tax consequences associated therewith.
ON BEHALF OF PETRO VISTA ENERGY CORP.
Darren Devine, Executive Vice President, Director
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.
Forward Looking Statements
This release includes certain statements that, to the extent they are not statements of historical fact, constitute forward-looking information and forward-looking statements which reflect the current view of the Company with respect to the Company's objectives, plans, goals, strategies, future growth, results of operations, financial and operating performance and business prospects and opportunities.
Wherever used, the words "may", "will", "anticipate", "intend", "expect", "estimate", "plan", "believe" and similar expressions identify forward-looking statements and forward-looking information. Forward-looking statements and forward-looking information should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indications of whether, or the times at which, such events, performance or results will be achieved. All of the statements and information in this release containing forward-looking statements or forward-looking information are qualified by these cautionary statements. These forward-looking statements and information include statements regarding the amount and timing of the Return of Capital, any future distribution, by way of completion of return of capital or otherwise, including the number, amount and timing of such future distributions, the receipt of any future proceeds to the Company and the use of any such future proceeds by the Company, and the due bills process.
Forward-looking statements and forward-looking information are based on information available at the time they are made, underlying estimates and assumptions made by management and management's good faith belief with respect to future events, performance and results, and are subject to inherent risks and uncertainties surrounding future expectations generally. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements and forward-looking information contained in this release. Such risks and uncertainties include, but are not limited the timing and amount of any future distributions, by way of return of capital or otherwise, any regulatory or legal approvals required for the Return of Capital, the due bills process of the Exchange, the estimated future expenses of the Company, regulation of the Company's business, state of the public markets, and global economic conditions, among other things.
The Company cautions readers that this list of factors is not exhaustive and that should certain risks or uncertainties materialize, or should underlying estimates or assumptions prove incorrect, actual events, performance and results may vary significantly from those expected. There can be no assurance that the actual results, performance, events or activities anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. Readers are urged to consider these factors carefully in evaluating forward-looking information and forward-looking statements and are cautioned not to place undue reliance on any forward-looking information or forward-looking statements. The forward-looking statements and forward-looking information are made as of the date hereof, and the Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements and forward-looking information contained herein to reflect future results, events or developments. You should also carefully consider the matters discussed under "Risk Factors" in the Company's management's discussion and analysis filed on SEDAR at www.sedar.com.