BV.H

Blue Vista Technologies Inc. (NEX BOARD:BV.H) (the "Company" or "Blue Vista")
Blue Vista is pleased to announce that the Company has entered into a Letter of
Intent (LOI) dated October 27, 2009 with SKA International Inc. ("SKA"), whereby
Blue Vista would, subject to a number of conditions, acquire all of the issued
and outstanding securities of SKA. SKA is Canadian company which has signed a
Joint Venture Agreement (JV) with China Shandong LuKe Group Company (Shandong
LuKe), a call centre and Value Added Services (VAS) provider servicing the
Chinese market based in Jinan City, Shandong Province, PRC. The LOI will allow
Blue Vista the opportunity to perform due diligence on the SKA joint venture
with objective of preparing a Formal Agreement. Should the Formal Agreement be
consummated the ensuing transaction would result in a change of business ("COB")
or reverse takeover ("RTO") and the Company's reactivation and graduation from
the NEX to the TSX Venture Exchange.


The Joint Venture company formed by SKA and Shandong LuKe is: Shandong Mei Long
Sci-Tech Co. Ltd. By the terms of the JV agreement, SKA International will be a
49 per cent partner and Shandong Luke Group will own the remaining 51 percent of
the newly formed JV. SKA is to provide financing for the new JV and Shandong
LuKe will provide its operating assets. Shandong LuKe will transfer all of its
revenue generating assets to the new JV.


Shandong Luke is a telecommunications service company that has been in operation
since 1992 and has approximately 2,000 employees. It operates in-coming and
out-going call centres in the cities of Jinan and Tai'an. The company is a well
established and profitable call centre and value added service provider to the
major telecom companies in China including China Mobile and China Telecom, the
largest telecom provider in the world. Shandong LuKe's business relationship
with China Telecom makes Shandong LuKe a dominate player in the industry.


More information on the JV will become available as the company proceeds with
its due diligence review. The company also intends to raise funds through a
private placement in connection with its review of SKA, terms to be determined.


Completion of the transactions is subject to a number of conditions, including
Exchange acceptance and disinterested shareholder approval. The transactions
cannot close until the required shareholder approval is obtained. There can be
no assurance that the transactions will be completed as proposed or at all.


Investors are cautioned that, except as disclosed in the Management Information
Circular and/or Filing Statement to be prepared in connection with the
transactions, any information released or received with respect to the COB or
RTO may not be accurate or complete and should not be relied upon. Trading in
the securities of Blue Vista should be considered highly speculative.


Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address events or developments that Blue Vista Technologies Inc.
(the "Company") expects to occur, are forward-looking statements.
Forward-looking statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results may differ materially from those in the forward-looking statements.
Factors that could cause the actual results to differ materially from those in
forward-looking statements include market prices, exploitation and exploration
successes, and continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward-looking
statements. Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are made. The
Company undertakes no obligation to update these forward-looking statements in
the event that management's beliefs, estimates or opinions, or other factors,
should change.


Shares Outstanding: 3,905,695

(TSXV:BV.H)
Historical Stock Chart
From May 2024 to Jun 2024

(TSXV:BV.H)
Historical Stock Chart
From Jun 2023 to Jun 2024