|By Marketwired .||
|June 6, 2014 04:35 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/06/14 -- Gerald McCarvill, Chairman and Chief Executive Officer of Norvista Resources Corporation ("Norvista Resources"), announces that it has acquired 20,000,100 common shares of Norvista Capital Corporation (TSX VENTURE: NVV) ("Norvista Capital") pursuant to the Reverse Take-Over Transaction (the "RTO") with X-Terra Resources Corporation (TSX VENTURE: XTT) described in the Norvista Capital/X-Terra Resources Corporation joint press release of June 5, 2014. The RTO is fully described in the Management Information Circular of X-Terra Resources Corporation dated April 28, 2014 and filed on SEDAR (the "Circular").
As a result of the RTO, Norvista Resources directly owns 20,000,100 common shares of Norvista Capital, representing approximately 46% of the issued and outstanding common shares of Norvista Capital.
Norvista Resources, as set forth in the Circular, is only holding the common shares of Norvista Capital temporarily and will distribute 16,800,000 of the 20,000,100 common shares of Norvista Capital it holds to its shareholders.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. 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.
Norvista Resources Corporation
Gerald P. McCarvill
Chairman and Chief Executive Officer