Blue Vista Announces Private Placement
February 03 2010 - 9:37AM
Marketwired
Blue Vista Technologies Inc. (TSX VENTURE: BV.H) ("Blue Vista")
announces that it intends to undertake a private placement offering
of up to 10 million units of Blue Vista at a price of CDN $0.05 per
unit for gross proceeds of up to CDN $500,000. Each unit is to be
comprised of one common share and one-half common share purchase
warrant, each whole warrant entitle the holder thereof to acquire a
common share for a period of one years from the date of issuance,
exercisable at a price of $0.10 per share. The proceeds of the
offering will be used by Blue Vista for general working capital
purposes, including its due diligence of SKA International Ltd., as
previously announced in a press release dated November 5, 2009.
The securities issued pursuant to the placement are subject to a
four-month hold period. Completion of the private placement is
subject to regulatory approval, including satisfaction of the
requirements of the NEX.
This press release includes "forward looking statements", within
the meaning of applicable securities legislation, which are based
on the opinions and estimates of management and are subject to a
variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
projected in the forward looking statements. Forward-looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "budget", "plan", "continue",
"estimate", "expect", "forecast", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"should", "believe" and similar words suggesting future outcomes or
statements regarding an outlook. Due to the risks, uncertainties
and assumptions inherent in forward-looking statements, prospective
investors in securities of Blue Vista should not place undue
reliance on these forward-looking statements. The forward-looking
statements contained in this press release are made as of the date
hereof and Blue Vista undertakes no obligation to update publicly
or revise any forward-looking statements contained in this press
release or in any other documents filed with Canadian securities
regulatory authorities, whether as a result of new information,
future events or otherwise, except in accordance with applicable
securities laws. The forward-looking statements contained in this
press release are expressly qualified by this cautionary
statement.
Shares Outstanding: 3,905,576
NEITHER 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 (416)
637-1063 falconer@revelstone.ca
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