Pursuant to the SPA, BPE made the initial investment of $500,000 USD upon the execution of the agreement. The SPA further provided for additional investments of at least $500,000 USD on the 6th, 9th and 12th month anniversaries of the SPA’s execution.
Blue Planet Environmental is pleased to announce that the second tranche closed on June 6, 2012 with the receipt of $500,000 USD, and the issuance of 2,595,757 common shares of Blue Planet Environmental Inc.
Blue Planet Environmental Inc. was represented in this matter by Minden Gross LLP of Toronto, Ontario; BPE Marketing Services LLP was represented by the New York office of Seyfarth & Shaw LLP.
The proceeds of the equity investment will be used to execute the next phase of Blue Planet’s strategic plan that was developed by BPE and Blue Planet Environmental to maximize the commercialization of products and processes utilizing nano-bubble gas infusion technology. The strategic plan will place major emphasis on aquaculture, aquaponics, and commercial greenhouse applications in the United States, Canada, and Central America.
FORWARD-LOOKING SAFE-HARBOUR STATEMENT
A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development, and market acceptance conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results that Blue Planet Environmental Inc. (9BP) may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. |
