Blue Vista Technologies Inc.
TSX VENTURE : BV.H

February 03, 2010 10:37 ET

Blue Vista Announces Private Placement

TORONTO, ONTARIO--(Marketwire - Feb. 3, 2010) - Blue Vista Technologies Inc. (TSX VENTURE:BV.H) ("Blue Vista") announces that it intends to undertake a private placement offering of up to 10 million units of Blue Vista at a price of CDN $0.05 per unit for gross proceeds of up to CDN $500,000. Each unit is to be comprised of one common share and one-half common share purchase warrant, each whole warrant entitle the holder thereof to acquire a common share for a period of one years from the date of issuance, exercisable at a price of $0.10 per share. The proceeds of the offering will be used by Blue Vista for general working capital purposes, including its due diligence of SKA International Ltd., as previously announced in a press release dated November 5, 2009.

The securities issued pursuant to the placement are subject to a four-month hold period. 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.

Shares Outstanding: 3,905,576

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