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BYSD NEWS out PREMARKET!! Bayside Corp. Management Comments on Subsidiary Spin Out
Bayside Corp. Spins Out Subsidiary Company Bayside Petroleum Company, Inc.

DALLAS, Aug. 1, 2013 /PRNewswire/ -- Bayside Corp. (BYSD) comments on the spin out of Bayside Petroleum Company, Inc. "The spin out is designed to allow both companies to individually execute their business models". –Gordon Johnson, Chairman

Bayside Corp. and its other wholly owned subsidiaries will continue to establish its brand identity as that of an energy exporter, marketer and innovator with a focus on various forms of energy including but not limited to heavy fuel oil, liquefied natural gas, renewable energy, and technology energy innovations. The move is consistent with the management team's vision for the future of the company and the continued establishment of its brand identity.

The company's management further commented by saying that the purpose of the spin out of Bayside Petroleum Company, Inc. a subsidiary of Bayside Corp. is for Bayside Petroleum Company, Inc. to become an independent stand alone company and continue to establish it's own brand identity as an energy, exploration, development and production company.

As a result of the spin out, Bayside Petroleum Company, Inc. will issue shares of its own Common Stock to its shareholders on a basis to be determined by the Board of Directors at its next meeting.

Read Full: http://finance.yahoo.com/news/bayside-corp-management-comments-subsidiary-123000250.html