/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
CHANTILLY, VA,
Oct. 19, 2012 /CNW/ - BlueScout
Technologies (TSXV: SCT), providers of the BlueScout OCS‐210™ for
optimized wind energy generation, is pleased to announce that on
October 16, 2012 it received a
receipt (the "Final Receipt") for its final short form
prospectus dated October 12, 2012
(the "Prospectus") from the securities commissions of
Ontario, British Columbia and Alberta.
The Prospectus qualifies the distribution of
56,189,269 common shares ("Common Shares") and 56,189,269
Common Share purchase warrants ("Warrants") of BlueScout
issuable upon the automatic exercise of 51,081,154 previously
issued special warrants (the "Special Warrants"), and
3,371,357 compensation options ("Compensation Options") of
BlueScout issuable upon the automatic exercise of 3,064,870
previously issued compensation warrants ("Compensation
Warrants"). Each Warrant entitles the holder to acquire,
subject to adjustment in certain circumstances, one Common Share at
a price of C$0.10 per share at any
time before 5:00 p.m. (Toronto time) on August
24, 2015. Each Compensation Option entitles the holder to
acquire, subject to adjustment in certain circumstances, one Common
Share and one Common Share purchase warrant of the Company (each, a
"Compensation Option Warrant") at an exercise price of
C$0.06 per Compensation Option at any
time prior to 5:00 p.m. (Toronto time) on August
24, 2014. Each Compensation Option Warrant entitles the
holder to acquire, subject to adjustment in certain circumstances,
one Common Share at a price of C$0.10
per share until 5:00 p.m.
(Toronto time) on August 24, 2015.
As previously announced, the Special Warrants
were issued on a private placement basis on August 24, 2012 pursuant to an agency agreement
(the "Agency Agreement") between Stifel Nicolaus Canada Inc.
and Fraser Mackenzie Limited, as agents, and BlueScout for total
gross proceeds to BlueScout of approximately C$3,064,869.
None of the securities issued have been
registered under the United States Securities Act of 1933, as
amended (the "1933 Act"), and none of them may be offered or
sold in the United States absent
registration or an applicable exemption from the registration
requirements of the 1933 Act. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy
nor shall there by any sale of the securities in any state where
such offer, solicitation, or sale would be unlawful.
About BlueScout
BlueScout Technologies (TSXV: SCT) increases
energy production and decreases operating costs by applying
groundbreaking microgeographical wind flow sensing to turbine
control systems that increases the effectiveness and availability
of wind turbines. BlueScout combines precise, optically based wind
forecasting with advanced predictive control architectures to ready
the turbine for the imminent wind inflow changes - optimizing
energy production and reducing the harmful effects of wind
turbulence on the turbine. With extensive operating data on
multiple wind turbine models, BlueScout is the leading, value‐added
innovator in wind turbine performance and optimization.
The team consists of experienced high‐tech,
R&D and manufacturing engineers, innovative entrepreneurs, and
proven leaders. The BlueScout team has unique expertise and shares
a firm commitment, as part of the wind power industry, to
continuously improve the reliability of wind power generation
through innovation. For more information, visit
www.BlueScout.com.
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 BlueScout Technologies
