Petro Vista Energy Corp.
TSX VENTURE : PTV

Petro Vista Energy Corp.

December 09, 2016 16:37 ET

Petro Vista Announces Closing of the Sale of Petro Vista Energy Petroleo do Brasil Ltda.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 9, 2016) - Petro Vista Energy Corp. ("Petro Vista" or the "Company") (TSX VENTURE:PTV) is pleased to announce the closing in escrow today of the sale of of its wholly owned Brazilian subsidiary, Petro Vista Energy Petróleo do Brasil Ltda. ("PVEB"), to Maha Energy AB ("Maha") for consideration of C$2,542,600. PVEB holds a 37.5% undivided working interest in the exploration and production contract covering the Tartaruga offshore hydrocarbon development block, located in the Sergipe Alagoas Basin in Brazil.

Upon routine registration with the Province of Sergipe Commercial Board, which is expected within 10 days, all escrow conditions will be released and closing completed. Subsequent to the completion of closing Petro Vista will be a shell company and it is expected that Petro Vista will be suspended from trading on the TSX Venture Exchange and will be moved to the NEX board of the TSX Venture Exchange.

ON BEHALF OF PETRO VISTA ENERGY CORP.

Keith Hill, Chairman of the Board of Directors

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.

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