Blue Vista Technologies Inc. Announces Closing of Second Tranche of Private Placement
13 1월 2011 - 1:11AM
Marketwired
Blue Vista Technologies Inc. (TSX VENTURE: BV.H) (the "Company") is
pleased to announce that it has closed a second tranche (the
"Second Tranche") of units for its previously announced private
placement (the "Offering").
The Company issued 200,000 units ("Units") at a price of $0.05
per Unit for proceeds of $10,000 under the Second Tranche and
aggregate gross proceeds of $900,000 under the Offering. Each Unit
consists of 1 common share and 1 common share purchase warrant
exercisable on or before December 30, 2011.
Proceeds of the Offering will be used for working capital,
acquisitions, incurring Canada exploration expenditures (within the
meaning of the Income Tax Act (Canada)), to settle debt with cash
and to bring the continuous disclosure record of the Company up to
date.
The securities issued pursuant to the Offering are subject to a
four-month hold period. In addition, the Offering is subject to
certain conditions including, but not limited to, the receipt of
all necessary approvals including the approval of the NEX.
The Company is investigating strategic alternatives, including
the sale of its assets and possible acquisitions, which may, or may
not, involve a change of business, in order to enhance shareholder
value.
Except for historical information contained herein, this news
release contains forward-looking statements that involve risks and
uncertainties. Actual results may differ materially from those
currently anticipated due to a number of factors and risks. The
forward-looking statements contained in this press release are made
as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
Shares Outstanding: 23,615,576
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.
Contacts: Blue Vista Technologies Inc. Alex Falconer CFO and
Director (416) 637-1063 falconer@revelstone.ca
(TSXV:BV.H)
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