Vista Signs Contract to Sell Tire Facility
Denver, CO - October 19, 2017
-- Vista International Technologies, Inc. (OTC BB: VVIT),
is pleased to announce that it has signed a contract to sell its tire processing facility in Hutchins, TX
for gross proceeds of $1.5 million as part
of the Company's stated goal of becoming primarily a waste to energy company. Under this agreement Vista will sell the facility,
then lease back the property for a one year period for the sum of $150,000 (sale/leaseback transaction).
This lease is designed to give the Company time to clear the site to remediation specifications as required by the state and local authorities.
In addition, the Company has agreed that $300,000 of the sale proceeds will be held in escrow until the site is fully remediated.
If Vista fails to remediate the site during the one year period, then these funds will be used by the purchaser for any remaining cleanup efforts.
For clarification purposes, this sale is separate from the transaction for the sale of the 9 acre parcel of vacant land the company currently owns,
which is adjacent to the 18-acre tire facility and is currently also under contract for sale.
For additional information on the company or the contents of this release, please contact Tim at 303 690 8300,