BB's Stock Haven

[yaadmon]

BYSD getting stock and cash consideration Dividends. The company buying their Oil division is real.

NEWS! Bayside Corp. Announces the $5,000,000 Sale of Subsidiary Company Bayside Corp announces the sale of Bayside Petroleum Company, Inc. and stock dividends to common shareholders of Bayside Corp.

DALLAS, Feb. 17, 2015 /PRNewswire/ -- Bayside Corp. (PK: BYSD) today announced that it has entered into a contractual agreement with Technis Energy, LTD. (GXG: TECN) to sell off one-hundred percent (100%) of the common stock of Bayside Petroleum Company, Inc. a wholly owned subsidiary corporation of Bayside Corp.

Under the terms of the agreement, Bayside Petroleum Company, Inc. will become a subsidiary corporation of Technis Energy, LTD. To continue, Bayside Corp. will receive compensation in the form of $5,000,000 in Preferred Stock of Bayside Petroleum Company, Inc. and additional cash consideration. Furthermore, Common Stock shareholders of Bayside Corp will also receive a stock dividend of Bayside Petroleum Company, Inc. subject to the effective date set forth in the final agreement.

Additionally, Bayside Corp's current Chief Executive Officer, Gordon Johnson has been appointed as the new President of Technis Energy, LTD. and will oversee the transition and the registration of Bayside Petroleum Company, Inc. on the US Over-The-Counter Markets. The effective completion date for the agreement is expected to take place within the next 30 days pending final approval of the Technis Energy Board of Directors and FINRA.

posted on Facebook by Bayside today after the close

http://www.prnewswire.com/news-releases/bayside-corp-announces-the-5000000-sale-of-subsidiary-company-300037118.html