Arbitrage Exploration Inc.
NEX BOARD : BV.H

February 12, 2015 15:30 ET

Arbitrage Exploration Inc. (Formerly Blue Vista Technologies Inc.) Proposes Private Placement Financing of $500,000

TORONTO, ONTARIO--(Marketwired - Feb. 12, 2015) - Arbitrage Exploration Inc. (TSX VENTURE:BV.H) (the "Company") announces that it plans to complete a private placement financing (the "Offering") for proceeds of up to $500,000 by issuing units ("Units") of the Company at a price of $0.10 per Unit and flow-through units ("FT Units") at a price of $0.12 per FT Unit.

Each Unit will be comprised of one common share (a "Common Share") in the capital of the Company and one common share purchase warrant (a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.12 per Common Share for a period of 60 months from the closing of the Offering. Each FT Unit will be comprised of one Common Share to be issued on a "flow-through" basis and one common share purchase warrant (a "FT Warrant"). Each FT Warrant shall entitle the holder to acquire one Common Share at a price of $0.15 per Common Share for a period of 24 months from the closing of the Offering.

Proceeds of the Offering will be used for general operating expenses and incurring Canada exploration expenditures (within the meaning of the Income Tax Act (Canada)).

The closing of the Offering is expected to occur on or about February 20, 2015 and is subject to the completion of formal documentation and receipt of regulatory approval, including the approval of the NEX. The Company has received conditional approval to list the Common Shares on the Canadian Securities Exchange, subject to completion of the Offering and the satisfaction of standard listing conditions.

CAUTIONARY STATEMENT: Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward- looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. Please see our public filings at www.sedar.com for further information.

Contact Information

  • Arbitrage Exploration Inc.
    Judy Baker
    President
    (416) 786-7860