Far Vista Interactive Corp. (OTCPK:FVST.A) signed a letter of intent to acquire CJSC Chedty Neft from Primex Oil Production Inc for RUB 18.5 million.
As of March 25, 2013, The verification process of general due diligence process has been completed to the satisfaction of all parties and the documentation and legal steps to finalize the acquisition shall be completed within a very short period. On June 28, 2013, Far Vista's Board approved a resolution authorizing the signing and execution of a formal agreement for the transaction.