OTTAWA, Oct. 4, 2017 /CNW/ - BluMetric Environmental
Inc. (TSXV: BLM), a leading Canadian cleantech company, announced
today that, subject to approval by the TSX Venture Exchange, the
Company will undertake a plan to exchange up to $154,000 of certain existing debt for up to
550,000 common shares of the Company.
The conversion price of the shares is $0.24 and the Company expects to close on or
about October 15, 2017.
All the securities issuable in connection with the transaction
will be subject to a hold period ending four months and one day
after the closing date.
"This proposed shares-for-debt exchange is one of a number of
steps that we have taken and will continue to take to improve our
balance sheet and debt position. We thank these participants
and those in the past for their ongoing support of BluMetric," said
Roger Woeller, CEO of BluMetric.
About BluMetric Environmental Inc.
BluMetric
Environmental Inc. is a publicly traded cleantech company with a
portfolio of industry-leading products, processes, and services in
the environment sciences and engineering sectors. We take
pride in our strong record of providing sustainable solutions to
the world's environmental challenges.
Headquartered in Ottawa,
Ontario, BluMetric's award-winning team of industry experts
serves clients in Canada,
the United States, and
Central America.
For more information, visit www.blumetric.ca, or please
contact:
Forward-Looking Statements
Some of the
statements in this press release, including those relating to the
Company's debt-to-equity conversion, financial position,
strategies, and other statements that are predictive in nature,
that depend upon or refer to future events or conditions, or that
include words such as "expects", "anticipates", "intends", "plans",
"believes", "estimates", or similar expressions, are
forward-looking statements within the meaning of securities laws.
Forward-looking statements include, without limitation, the
information concerning possible or assumed future results of
operations of the Company. These statements are not historical
facts but instead represent only the Company's expectations,
estimates, and projections regarding future events. The Company
does not undertake any obligation to update or release any
revisions to these forward-looking statements to reflect events or
circumstances after the date of this presentation or to reflect the
occurrence of unanticipated events, except as required by law.
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.
SOURCE BluMetric Environmental Inc.
