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CALGARY, Alberta, Jan. 23, 2013 (GLOBE NEWSWIRE) -- Gysan Holdings, Inc. (OTCQB:GYSA) ("
Gysan" or the "
Corporation") is pleased to announce that, further to its news releases of September 26, 2012, October 25, 2012 and December 28, 2012, Gysan has acquired all the outstanding shares of Dino Energy Investments Ltd. ("
Dino"), a company formed and subsisting pursuant to the laws of the British Virgin Islands, from Dino's current shareholders, in exchange for 65,000,000 shares of Gysan Common Stock and 45,000,000 shares of Gysan Class A Preferred Stock. Each Gysan Class A Preferred Share has three votes and is convertible into three shares of the Corporation's Common Stock.
As a result of the transaction, Dino has become a wholly-owned subsidiary of Gysan. Also, further to its news releases of September 26, 2012, October 25, 2012 and December 28, 2012, Dino has entered into an agreement with a certain First Nations group in Alberta, Canada (the "
First Nation") for the exploration, development and production of hydrocarbon resources on and under the First Nation's reserve lands (the "
Exploration Agreement"). The rights granted to Dino under the Exploration Agreement are subject to regulatory and governmental approval as well as a number of other conditions precedent. It is expected that Dino, as a subsidiary of Gysan, will conduct all exploration and production activities through a wholly-owned subsidiary incorporated under the laws of Alberta, Canada.
Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for Gysan's business and operations that involve a number of risks and uncertainties. Gysan's forward-looking statements in this release are made as of the date hereof, and the Corporation disclaims any duty to supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise. In connection with the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and the "forward-looking information" provisions of National Instrument 51-102 of the Canadian Securities Administrators, the Corporation is identifying certain forward-looking information regarding, among other things, Gysan's proposed exploration and production activities. Actual events or results may differ materially from those contained in these forward-looking statements. Important factors that could cause further events or results to vary from those addressed in the forward-looking statement include, without limitation, risks and uncertainties arising from the ability of Dino to successfully satisfy the conditions precedent contained in the Exploration Agreement and successfully exploit the rights acquired thereby; uncertainties relating to the ability to realize the expected benefits of the acquisition; unanticipated or unfavorable regulatory matters; general economic conditions in the region and industry which Gysan and Dino operate, and other risk factors as discussed in the Corporation's other filings made by the Corporation from time to time with the Securities and Exchange Commission and the Alberta Securities Commission.
CONTACT: Gysan Holdings, Inc.
Winnie Fung, Treasurer and Secretary
Telephone: (403) 229 - 2351
Facsimile: (403) 228 - 3013