Blue Vista Technologies Inc.
TSX VENTURE : BV.H

April 07, 2010 14:23 ET

Blue Vista Announces Completion of First Tranche of Private Placement

TORONTO, ONTARIO--(Marketwire - April 7, 2010) - Blue Vista Technologies Inc. (TSX VENTURE:BV.H) ("Blue Vista") is pleased to announce that further to its press release dated February 3, 2010 announcing a proposed private placement of up to 10,000,000 units of the Company, it has completed the first tranche consisting of 1,710,000 units at a price of $0.05 per unit for gross proceeds of $85,500. Each unit is comprised of one common share and one half of one common share purchase warrant, each whole warrant entitling the holder thereof to acquire a common share for a period of one year from the date of issuance, exercisable at a price of $0.10 per share.

The securities issued are subject to a four month hold period, expiring on July 30, 2010. 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.

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