MLB Industries Inc. Enters Into Arrangement Agreement With Blue Horizon Energy Inc.

(NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES)


MLB Industries Inc. ("MLB") (CNSX:BMP) and Blue Horizon Energy Inc. ("Blue
Horizon") are pleased to announce that they have entered into an arrangement
agreement (the "Arrangement") pursuant to which MLB and Blue Horizon will
combine and MLB will, subject to certain conditions, acquire all of the issued
and outstanding shares of Blue Horizon (the "Blue Horizon Shares") by way of
plan of arrangement under the Business Corporations Act (Alberta). 


In connection with the Arrangement, substantially all of the existing assets of
MLB will be transferred to three wholly owned subsidiaries of MLB (the
"Newcos"). MLB will then (i) effect a consolidation of its common shares (the
"MLB Shares") on the basis of one (1) post-consolidation MLB Share for every
twenty-nine (29) pre-consolidation MLB Shares issued and outstanding; (ii)
acquire all of the issued and outstanding shares of Blue Horizon; and (iii)
change MLB's name to "Blue Horizon Industries Inc." (the "Resulting Issuer"). As
a result, Blue Horizon will become a wholly-owned subsidiary of the Resulting
Issuer and Blue Horizon shareholders will own approximately 95% of the issued
shares of MLB. Full details of the Arrangement will be included in the joint
information circular of MLB and Blue Horizon to be mailed in connection with the
Arrangement (the "Information Circular") which is expected to be mailed to all
Blue Horizon shareholders by July 29, 2010.


Pursuant to the transactions contemplated by the Arrangement and the asset
purchase agreement to be entered into between MLB and each of the Newcos, each
of the Newcos will receive certain assets of MLB as described in the Information
Circular in exchange for issuing to MLB an aggregate of 3,454,035 common shares
of each of the Newcos, respectively. Pursuant to the Arrangement, on the
effective date of the Arrangement each shareholder of record of MLB (each an
"MLB Shareholder") on the day after the special meeting of MLB Shareholders
called to consider the Arrangement will receive one common share of each of the
Newcos for each MLB Share held (calculated on a post-consolidation basis).


The Arrangement is subject to certain customary conditions, including acceptance
of the Arrangement by holders of at least 66 2/3 percent of the MLB Shares and
the securities of Blue Horizon (including issued Blue Horizon Shares, warrants
and stock options to acquire Blue Horizon Shares, voting as one class) voted at
the applicable meeting of MLB shareholders and Blue Horizon securityholders, the
receipt of all required regulatory and court approvals and the receipt of any
required third-party approvals, including the Canadian National Stock Exchange. 


The Arrangement Agreement provides for the payment of a mutual break fee upon
the occurrence of certain events. The Arrangement Agreement includes customary
non-solicitation covenants and right-to-match provisions. 


The Board of Directors of MLB has unanimously approved the Arrangement and has
concluded that the Arrangement is in the best interests of MLB and the MLB
shareholders and recommends that its shareholders vote in favour of the
Arrangement. Directors and management of MLB (holding approximately 19 percent
of the issued and outstanding MLB Shares) have agreed to vote their MLB Shares
in favour of the Arrangement, subject to certain exceptions, and have entered
into support agreements with Blue Horizon. 


The Board of Directors of Blue Horizon has unanimously approved the Arrangement
and has concluded that the Arrangement is in the best interests of Blue Horizon
and the Blue Horizon securityholders and recommends that its securityholders
vote in favour of the Arrangement. Directors, officers and a major shareholder
of Blue Horizon (holding approximately 57 percent of the issued and outstanding
Blue Horizon Shares) have agreed to vote their Blue Horizon Shares in favour of
the Arrangement, subject to certain exceptions, and have entered into support
agreements with MLB. 


Completion of the Arrangement is subject to conditions precedent described in
the Information Circular and there can be no assurance that the Arrangement will
be completed as proposed or at all.


Investors are cautioned that, except as disclosed in the Information Circular,
any information released or received with respect to the Arrangement may not be
accurate or complete and should not be relied upon. 


About MLB

MLB is a publicly traded Canadian company based in Lethbridge, Alberta is an
active holding corporation that has previously provided management services to
and conducted its business affairs through one wholly owned subsidiary and one
majority owned corporation. MLB has recently concentrated its efforts to explore
strategic alternatives and reorganizing the activities of the Corporation and
its subsidiaries.


About Blue Horizon 

Blue Horizon is a diversified private Canadian company based in Red Deer,
Alberta that operates two wholly owned divisions; Blue Horizon Contracting
("BHC") and Blue Horizon Energy ("BHE"), as well as two subsidiary companies;
Blue Horizon Bio-Diesel Inc. ("BHBD") (100% Owned) and Blue Horizon Mining Inc.
("BHM") (74% Owned).


BHC successfully completed, in the summer of 2010, a dismantling project at
Kathleen, Alberta grossing $1,700,000 in revenue and netting approx.$780,000 in
pre-tax profit. BHC was awarded and is currently completing a $17,500,000
dismantling project in Kitimat B.C. 


BHE currently owns oilsands leases at Normandville Alberta; as to a 50% interest
in four sections and a 100% interest in a further ten sections. BHE has entered
into a farmout agreement with third parties that have agreed to pay 90% of the
costs of three vertical test wells to earn an undivided 50% interest in the
8,960 acres comprising the Normandville oilsands leases. BHE is the operator of
the three test well earning program where the first test well was drilled, cored
and cased just prior to spring break-up. Preliminary production testing has been
conducted on the test well, results were inconclusive as to whether or not the
well can be placed on production. BHE, with its industry partners, are in the
process of preparing to drill two additional vertical wells on the Normandville
oilsands leases.


Blue Horizon's 74% owned subsidiary company, BHM, is advancing two mining
exploration properties located in British Columbia. BHM is exploring for copper
on its Vermillion Forks Property and gold on its Kodi Mountain Property. 


Blue Horizon's 100% owned subsidiary company, BHBD, was acquired to secure the
opportunity to develop a commercial process for the production of bio-diesel.
BHBD has entered into a long-term lease on a large facility at Bruderheim,
Alberta that is well situated in the Heartland corridor just outside of Edmonton
with both CN & CP rail access.


Further information about Blue Horizon can be obtained at: www.blue-horizon.ca. 

Certain information set out in this News Release constitutes forward-looking
information. Forward-looking statements (often, but not always, identified by
the use of words such as "expect", "may", "could", "anticipate" or "will" and
similar expressions) may describe expectations, opinions or guidance that are
not statements of fact and which may be based upon information provided by third
parties. Forward-looking statements are based upon the opinions, expectations
and estimates of management of MLB as at the date the statements are made and
are subject to a variety of known and unknown risks and uncertainties and other
factors that could cause actual events or outcomes to differ materially from
those anticipated or implied by such forward-looking statements. Those factors
include, but are not limited to the entering into of the Definitive Agreement as
contemplated by the Letter of Intent, satisfaction by both parties of the
results of due diligence, the ability of each of MLB and Blue Horizon to
successfully satisfy the conditions precedent to the completion of the
Arrangement, the availability of capital to MLB and Blue Horizon to fund their
operations, and risks, uncertainties and other factors that are beyond the
control of MLB or Blue Horizon, risks associated with MLB's and Blue Horizon's
industries in general, and the uncertainty of estimates and projections of
sales, costs and expenses. In light of the risks and uncertainties associated
with forward-looking statements, readers are cautioned not to place undue
reliance upon forward-looking information. Although MLB believes that the
expectations reflected in the forward-looking statements set out in this News
Release or incorporated herein by reference are reasonable, it can give no
assurance that such expectations will prove to have been correct. The
forward-looking statements of MLB contained in this News Release, or
incorporated herein by reference, are expressly qualified, in their entirety, by
this cautionary statement. 


This news release shall not constitute an offer to sell or the solicitation of
an offer to buy securities of MLB in any jurisdiction. The securities of MLB
have not been registered under the Securities Act of 1933, as amended (the "1933
Act") and may not be offered or sold in the United States absent registration or
an applicable exemption therefrom under the 1933 Act and applicable state
securities laws.
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