Vista Dorada Signs Agreement With Wind Turbine Manufacturer
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CENTERVILLE, MA, May 27 (MARKET WIRE) --
Vista Dorada Corp. (OTCBB: VIDR) ("Vista Dorada" or the "Company") is
pleased to announce that a Letter of Intent ("LOI") has been signed with
GC Nordic of Wuhan, China in order to enter into a share purchase and
exchange agreement.
The terms of the agreement, subject to a period of due diligence by both
parties, would result in Vista Dorada acquiring all of the issued and
outstanding shares of GC Nordic from its Shareholders and the Shareholders
of GC Nordic would purchase a 54% controlling equity interest in Vista
Dorada. Both parties aim to move towards the closure of a Definitive
Agreement as quickly as possible subject to certain terms and conditions.
In preparation for the close of the Definitive Agreement it is proposed
that Vista Dorada will effect a name change and resultant shift in
business direction in order to capitalize upon what Management believes
are significant opportunities within the wind turbine manufacturing
sector.
GC Nordic is a wind turbine manufacturing venture of Wuhan Guoce Nordic
New Energy Co. Ltd., which is part of the highly regarded and successful
multi-division Wuhan Guoce Group of Companies. The organization is a well
established manufacturer of hydraulic and electronic systems offering
direct access to a national client base representing a large industrial
market share with extensive vertical penetration opportunities across the
People's Republic of China ("PRC"). The company holds a license to
manufacture a robust and innovative wind turbine system originally
developed in Europe.
Complete details of this agreement will be filed as part of the Company's
continuous public disclosure as a reporting issuer under the Securities
Exchange Act of 1934 filed with the Securities and Exchange Commission's
("SEC") IDEA database (formerly EDGAR).
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is
defined in Section 27A of the United States Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Statements in this
press release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such forward-looking
statements include, among other things, the development, costs and results
of new business opportunities. Actual results could differ from those
projected in any forward-looking statements due to numerous factors. Such
factors include, among others, the inherent uncertainties associated with
new projects and development stage companies. These forward-looking
statements are made as of the date of this news release, and we assume no
obligation to update the forward-looking statements, or to update the
reasons why actual results could differ from those projected in the
forward-looking statements. Although we believe that any beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate. Investors should
consult all of the information set forth herein and should also refer to
the risk factors disclosure outlined in our annual report on Form 10-KSB
for the most recent fiscal year, our quarterly reports on Form 10-QSB and
other periodic reports filed from time-to-time with the Securities and
Exchange
Commission.
ON BEHALF OF THE BOARD
Vista Dorada Corp.
- - - - - - - - - - -
John J. Lennon
Chief Executive Officer
Investor Relations:
Boundary Point Investor Relations, Inc.
1-888-838-8478
Copyright 2009, Market Wire, All rights reserved.
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