VANCOUVER, British Columbia, Dec. 19, 2017 (GLOBE NEWSWIRE) — (TSX-V:PTV.H) Petro Vista Energy Corp. (“Petro Vista” or the “Company”), announces its intention to undertake a non-brokered private placement of up to 26,666,666 units (the “Units”) at $0.01875 per Unit for gross proceeds of up to C$500,000 (the “Offering”).

Each Unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant (“Warrant”) will entitle the holder to purchase one additional common share at a price of C$0.025 per common share for period of 24 months from the date of issue

Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the NEX board of the TSX Venture Exchange (the “Exchange”).  All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.  The Company may pay Finder’s Fees in connection with the Offering.  The proceeds from the Offering will be used for general working capital.

Upon closing of the Offering, the Company intends to complete a consolidation of its issued and outstanding common shares of up to a maximum of ten (10) old shares for every one (1) new share (the “Consolidation”).  The Company will provide an undertaking to the Exchange to complete the Consolidation no later than 6 months from the completion of the Offering.

ON BEHALF OF PETRO VISTA ENERGY CORP.

“Dan Placzek”

President and CEO

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.

For further information please contact:

Petro Vista Energy Corp.,
Attention: Dan Placzek
Tel: +1(604) 638-8063