Mr. Hugh Ross reports
NOVUS ENERGY INC. ANNOUNCES EXPECTED CLOSING DATE FOR ARRANGEMENT WITH YANCHANG PETROLEUM INTERNATIONAL LIMITED
The arrangement contemplated under the arrangement agreement among Hugh Ross, Yanchang
Petroleum International Ltd. and its wholly owned subsidiary, dated Sept. 3, 2013, as amended, was approved by the requisite majority of votes cast by shareholders
of Yanchang at the meeting held on Dec. 23, 2013.
Yanchang has provided the company with a notice of the exercise of its
right to postpone the original outside date under the arrangement
agreement of Dec. 31, 2013, by 30 days to Jan. 30, 2014. Closing
of the arrangement remains subject to certain conditions set forth in
the arrangement agreement as well as Yanchang finalizing financing
arrangements, and is expected to occur on or prior to Jan. 30, 2014.
We seek Safe Harbor.
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