Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/bayside-completes-5-million-sale-of-subsidiary-to-.shtmlBayside completes $5 million sale of subsidiary to Technis Energy
Bayside Corp. has completed the one hundred percent (100%) sale of the common stock of Bayside Petroleum Company, Inc. to Technis Energy, LTD.
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Bayside Corp. has completed the one hundred percent (100%) sale of the common stock of Bayside Petroleum Company, Inc. to Technis Energy, LTD. Bayside Petroleum Company, Inc. is now a wholly owned subsidiary of Technis Energy, LTD.
Additionally, consideration for the sale includes $5,000,000 of Preferred Stock of Bayside Petroleum Company, Inc. and cash consideration. Moreover, Common Stock shareholders of Bayside Corp. will also receive a stock dividend of Bayside Petroleum Company, Inc.
To continue, the Bayside Corp. management will be filing a Corporation Action with FINRA to issue stock dividends as a result of the sale. The details of the transaction will become available to the shareholders once FINRA has approved the Corporate Action.
