[ACCESSWIRE]
CALGARY, AB / ACCESSWIRE / January 11, 2017 / Dino Energy Corporation (OTC PINK: DINO) ("Dino" or the "Corporation"), listed on the US OTC Market, is pleased to announce that it has entered into a conditional and non-binding Letter of Intent ("LOI") dated January 10, 2017 in which Dino intends to acquire a solar power project in India ("Project") from Prestige Ocean Holding and Investments Ltd. ("Prestige"), a Hong Kong based company. On December 2, 2016, Prestige signed a Memorandum of Understanding ("MOU") with the Government of the province of Haryana, India, whereby Prestige plans to invest in a 100 MW solar power project in the province of Haryana. It is intended that Dino will acquire the Project through a vendor take back loan. The purchase price, the terms of the loan, and other relevant conditions will be negotiated and finalized at a later date after Prestige has signed a definitive agreement for the Project.
READER ADVISORY:
Certain statements contained in this release are forward-looking statements and are based on future expectations, plans, and prospects for Dino's business and operations that involve a number of risks and uncertainties. Dino's forward-looking statements in this release are made as of the date hereof, and the Corporation disclaims any duty to supplement, update, or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations, or otherwise. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Corporation is identifying certain forward-looking information regarding, among other things, the acquisition of the 100 MW solar power project in India. Actual events or results may differ materially from those contained in these forward-looking statements. Important factors that could cause further events or results to vary from those addressed in the forward-looking statement include, without limitation, risks and uncertainties arising from the ability of Dino to successfully carry out the development of the solar power project in India; uncertainties relating to the ability to realize the expected benefits of from the solar power project in India; unanticipated or unfavorable regulatory matters; general economic conditions in the region and industry which Dino operates, and other risk factors as discussed in the Corporation's other filings made by the Corporation from time to time with the Securities and Exchange Commission.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Dino Energy Corporation
Eric Lawson, President and CEO
Telephone: (403) 804-0036
Facsimile: (403) 228-3013
SOURCE: Dino Energy Corporation
