TORONTO, ONTARIO--(Marketwired - Oct. 9, 2013) - Blue Vista Technologies Inc. (TSX VENTURE:BV.H) ("Blue Vista" or the "Company") is pleased to announce that it has closed its previously announced settlement of debt (the "Debt Settlement").
The Company settled an aggregate of $795,942.99 of indebtedness through the issuance of 15,918,859 common shares (the "Settlement Shares") at a price of $0.05 per Settlement Share.
The Settlement Shares issued pursuant to the Debt Settlement are subject to a four-month hold period. In addition, the Debt Settlement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the NEX.
In addition, the Company has negotiated a debt forgiveness agreement with one of its creditors. The outstanding indebtedness of the Company was reduced in the amount of $283,058.00.
About Blue Vista
Blue Vista is listed on the NEX Exchange, under the symbol BV.H. Blue Vista is in the process of applying to become a Tier 2 Resource Issuer on the TSX-V, which has been assisted through the recent acquisition of the Hurdman Property.
CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) 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 companies and the companies provide no assurance that actual results will meet expectations. Forward-looking statements include estimates and statements that describe future plans, objectives or goals, including words to the effect that the companies or their management expect a stated condition or result to occur. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.