Arbitrage Exploration Inc.
NEX BOARD : BV.H
TSX VENTURE : BV.H

January 15, 2015 16:46 ET

Arbitrage Exploration Inc. (formerly Blue Vista Technologies Inc.) Provides Business Update

TORONTO, ONTARIO--(Marketwired - Jan. 15, 2015) - Arbitrage Exploration Inc. (NEX:BV.H) (the "Company") provides an update to its press releases of September 8, 2011 and September 4, 2013.

On September 8, 2011, the Company announced that it had entered into a purchase agreement with Eloro Resources Ltd. ("Eloro") whereby Eloro agreed to sell all of its interest in and to the Hurdman Property, which comprises 13 contiguous mining claims covering 2,944 hectares in Hurdman Township, 130 kilometers north-northwest of Timmins, Ontario, in exchange for cash and securities of the Company (the "Acquisition"), and on September 4, 2013, the Company announced that it had completed the Acquisition.

The Acquisition formed part of the Company's proposed Change of Business ("COB") transaction under the policies of the TSX Venture Exchange ("TSXV") from a "waste treatment and disposal company" to a "junior mining issuer". The proposed COB was approved at the Company's annual and special meeting of shareholders held on June 14, 2013, and the proposed COB received conditional approval from the TSXV on May 1, 2013.

Pursuant to the Acquisition, the Company owns 100% of the Hurdman Property and now operates as a junior mining company. However, the Company was unable to meet one of the conditions of the COB, which was to raise funds pursuant to a proposed concurrent private placement financing, and therefore the formal COB under the policies of the TSXV was not completed.

The Company has applied to list its common shares on the Canadian Securities Exchange ("CSE"), and subject to obtaining final approval from the CSE, the Company will apply for a de-listing of its common shares from the facilities of the NEX board of the TSXV, which common shares are currently halted for trading.

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