Bayside Corp. Announces the Completion of $5,000,000 Sale of Subsidiary Company

DALLAS, Feb. 23, 2015 /PRNewswire/ -- Bayside Corp. (OTC: BYSD) today announced the completion of the one hundred percent (100%) sale of the common stock of Bayside Petroleum Company, Inc. to Technis Energy, LTD. (GXG: TECN). Bayside Petroleum Company, Inc. is now a wholly owned subsidiary of Technis Energy, LTD.

Additionally, consideration for the sale includes $5,000,000 of Preferred Stock of Bayside Petroleum Company, Inc. and cash consideration. Moreover, Common Stock shareholders of Bayside Corp. will also receive a stock dividend of Bayside Petroleum Company, Inc.

To continue, the Bayside Corp. management will be filing a Corporation Action with FINRA to issue stock dividends as a result of the sale. The details of the transaction will become available to the shareholders once FINRA has approved the Corporate Action.

Further, upon approval of the Corporate Action, and the appointment of the new Bayside Petroleum Company, Inc. management team, Bayside Petroleum Company, Inc. will seek to file a registration statement to initiate the quotation of its Common Stock on the OTC Bulletin Board.  

About Bayside Corp.
Bayside Corp. is an American multinational corporation that manages multiple subsidiary companies engaged in a variety of business industries and sectors. At Bayside Corp. we believe that the future is now and that our efforts today will have a long lasting impact for generations to come. For additional information on the Company visit our website at: http://www.baysidecorp.com

About Technis Energy Limited
Technis Energy is a British Virgin Islands oil company that owns and operates more than 50 oil wells in the USA primarily in East Texas. The East Texas Oil Field is the one of the largest oil field in the United States, having more than seven billion barrels of oil in place, and having produced more than 5.5 billion barrels, or about 78% of the original oil in place. http://www.technisenergy.com

Certain statements in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" All forward-looking statements are based on Bayside's current expectations, estimates, projections, beliefs and assumptions based on information available at the time the statement was made and in light of Bayside's experience and its perception of historical trends.

The forward-looking statement in this news release includes reference to: Bayside's ability to execute on its strategy and deliver strong results on behalf of its shareholders. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties; some that are similar to other related companies and some that are unique to our company. Bayside's actual results may differ materially from those expressed or implied by our forward-looking statements and you are cautioned not to place undue reliance on them

Contact: Bayside Corp., [email protected], 800-719-1310

SOURCE Bayside Corp.

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