Avant Diagnostics Inc fka ADVX

[davidsson10]

American Liberty Petroleum Corp. Cancels Majority of Its Stock

HOUSTON, Oct 02, 2014 (GLOBE NEWSWIRE via COMTEX) -- American Liberty Petroleum Corp. (OTCBB:OREO) announces today that it will cancel over sixty three percent (63%) of the company's outstanding Common Stock shares. Three major shareholders have signed an agreement to exchange stock certificates, owned by them and already submitted to the company's CFO, for one million (1,000,000) Common Stock shares each - for a total of over sixty eight million (68,469,993) Common Stock shares being cancelled and three million (3,000,000) being issued.
"These shareholders, including the Chief Executive Officer prior to Mr. Rhodes, believe that our current management team and its plan focusing on enhancing shareholder value will bring major benefits to our shareholders," said Steven M. Plumb, American Liberty Petroleum Corp.'s Chief Financial Officer. "With 107,389,051 Common Stock shares outstanding as of the filing of our last 10Q, we are cancelling over sixty three percent (63%) of the outstanding Common Stock shares."

The previously disclosed letter of intent for acquisition of Avant Diagnostics Inc. contemplates a closing date by October 1, 2014, based upon successful conclusion of due diligence, which is ongoing by both parties. The parties have signed an amended letter of intent providing for a later closing, October 31, after Avant Diagnostics Inc. submits a PCAOB audit to the company as part of the due diligence.

Shareholders should also note that Mr. Hunter M.A. Carr no longer has any position nor ownership in American Liberty Petroleum Corp. The Board of Directors accepted Mr. Carr's resignation as Chairman on August 30, 2014.