Blue Horizon Industries Inc.

Blue Horizon Industries Inc.

November 08, 2011 08:00 ET

Blue Horizon Industries Announces Proposed $2,000,000 Private Placement Financing

RED DEER, ALBERTA--(Marketwire - Nov. 8, 2011) - Blue Horizon Industries Inc. ("Blue Horizon" or the "Corporation") (CNSX:BH) announced today that the Corporation intends to complete a non-brokered private placement offering of up to 10,000,000 units at $0.20 per unit for total gross proceeds of up to $2 million. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one common share at a price of $0.40 per share for a period of one year after the closing. If, at any time after the expiry of the four-month hold period, the closing price of the common shares of the Corporation, on the Canadian National Stock Exchange ("CNSX"), is at least $0.80, for a period of ten consecutive trading days (including days where no shares are actually traded), the Corporation may, at its option, accelerate the expiry date of the warrants by issuing a press release, and, in such case, the warrants will expire, without further notice, on the date which is the earlier of: (i) the 30th day after the date on which the press release is issued by the Corporation; and (ii) the original expiry date.

A finder's fee of up to 8 percent of the gross proceeds of the offering may be paid, on all or any portion of the funds raised pursuant to this offering. In addition, finders will receive finders' warrants equal to up to 8 percent of the number of units issued in connection with the offering. Each finder's warrant will entitle the holder to purchase one common share at a subscription price of $0.20 per share for a period of one year after the closing.

The closing of the offering is expected to occur on or about November 18, 2011 and is subject to regulatory approval, including approval of the CNSX. For further details on the offering, please contact the Corporation. All securities issued in connection with the offering will be subject to a hold period of four months from the date of closing. The net proceeds from the offering will be used to finance the Corporation's continuing capital program and for general working capital purposes.

About Blue Horizon Industries Inc.

Blue Horizon Industries Inc. is a diversified industrial company with a four-fold strategic focus. The Corporation operates through three subsidiary companies; Blue Horizon Bio-Diesel Inc. – 100% owned ("BH Bio-Diesel"), Blue Horizon Energy Inc. – 100% owned ("Blue Horizon Energy") and Blue Horizon Mining Inc. - 74% owned ("BH Mining"). Blue Horizon Contracting ("BH Contracting") and BH Energy are wholly-owned divisions of Blue Horizon Energy. BH Contracting is currently completing a USD $20.4 million dismantling contract of two industrial plants at Kitimat B.C. while BH Energy is exploring for oil and gas in Western Canada having participated in 4 test wells in 2011. BH Mining is advancing two mining projects in British Columbia and BH Bio-Diesel has an exclusive sub-license agreement to build green bio-diesel plants in Canada.

The shares of the parent company, Blue Horizon Industries Inc., are listed to trade on the Canadian National Stock Exchange ("CNSX") under the symbol "BH".

Further information with respect to the Blue Horizon Group of Companies can be obtained by visiting:

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the Canadian National Stock Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian National Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

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