Financial Results for the three months ended August 31, 2017
ST. HELIER, Jersey, Nov. 6, 2017
/CNW/ - EastSiberian Plc, ("the Company") reports its unaudited
financial results for the period ended August 31, 2017. EastSiberian has filed its
Interim Consolidated Financial Statements for the period ended
August 31, 2017 and its Management's
Discussion and Analysis ("MD&A") on www.sedar.com.
Update on Nicaragua
situation
EastSiberian Plc, reported June 29, 2017 that the memorandum of
understanding ("MOU") with Pan American Oil Ltd ("PAO") had
expired. Under the terms of the Confidentiality Agreement between
these 2 companies, PAO is restricted from pursuing certain oil and
gas exploration and development opportunities in Nicaragua identified by the Company. However,
it has come to the attention of EastSiberian that PAO has
independently applied for the very same concessions introduced to
PAO by EastSiberian. This is in direct conflict with the existing
Confidentiality Agreement. The company has tried to contact both
the Nicaragua Government and PAO to get clarity on the situation
but to date has not had a response. EastSiberian is considering all
legal actions open to it including arbitration as outlined in the
Confidentiality Agreement. Concerned shareholders are invited to
contact Graeme Phipps for additional
information regarding this situation.
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.
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 enter into a definitive agreement regarding the
sale transaction and the terms of the sale transaction.
Undue reliance should not be placed on forward-looking
statements, which are inherently uncertain 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.
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