Blackstone Announces Debt Settlement
27 August 2011 - 5:30AM
Marketwired
Blackstone Ventures Inc. (TSX VENTURE: BLV) ("Blackstone" or the
"Company") has reached a settlement arrangement with Kima
Geological Services Ltd. ("Kima"), a company owned by Dean
MacEachern, for the provision of geological and management
services.
The Company has agreed to issue to Kima a total of 850,000
common shares at a deemed price of $0.08 per share in settlement of
$68,000 of outstanding indebtedness. Shares issued will be subject
to a four month hold period.
The debt settlement is subject to the approval of the TSX
Venture Exchange.
On behalf of Blackstone Ventures Inc.
David M. Douglas, Chief Financial Officer
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements
regarding the business and anticipated financial performance of the
Company. These statements are subject to a number of risks and
uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to
update any forward looking statements, oral or written, made by
itself or on its behalf.
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: Blackstone Ventures Inc. Investor Relations
604-687-3929 604-682-3727 (FAX) www.blv.ca
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