SOURCE: Canadian Blue Gold Inc.

February 28, 2008 11:14 ET

Canadian Blue Gold Announces Finalization of Takeover by Boreal Water Collection Management and Appointment of Mrs. Francois Lavoie as Chief Executive Officer

New Name and Trading Symbol to Be Effective Within Next Few Days

MONTREAL--(Marketwire - February 28, 2008) - Canadian Blue Gold Inc. (PINKSHEETS: CBGC) today announced that Boreal Water Collection Inc.'s Management has finalized its takeover of the Company and that the new corporate name and trading symbol will be effective within the next few days.

On December 17, 2007 the controlling shareholder of Les Sources Saint-Élie Inc., Mrs. Francine Lavoie, acquired effective control of Canadian Blue Gold Inc. (now renamed Boreal Water Collection Inc.) through the purchase of all the common shares then owned by Mr. Allain Barrière, former President of Canadian Blue Gold Inc., and a few other shareholders that collectively represented majority control of the Company. As a result, all the directors and officers including Mr. Allain Barrière have resigned and Mrs. Francine Lavoie has been appointed as President and Chief Executive Officer of the Company.

Mrs. Francine Lavoie stated the following: "We are very proud and excited to start expanding our US operations under our new Boreal Water banner and we anticipate the shares to commence trading under Boreal Water Collection Inc. shortly. The name and symbol change took longer than initially expected due to administrative delays that were unanticipated and out of our control. Everything has been processed in an orderly manner for the changes to apply imminently. We have received several offers from interested clients, partners, shareholders, equity firms and other serious organizations to participate in Boreal Water Collection's potential growth and success as a publicly traded company."

Additional information with respect to the announced takeover will be disclosed once the Company has obtained the new trading symbol, which will follow confirmation of the Company's name change. This information will disclose the names of the new officers and directors and will provide comprehensive information regarding the Company's development plan.

About Boreal Water Collection Inc.

Boreal Water Collection's goal is to become the leading producer of high-end, private label bottled water in North America. Boreal plans to achieve this goal by developing its affiliation with Les Sources Saint-Élie Inc., a Canadian company that has been the leading producer of high-end, private label bottled water in Eastern Canada over the last decade. Boreal is committed to providing its customers with the highest quality, private label bottled water products at affordable prices, supported by a wide range of products and an outstanding level of customer service. Its product line, which features various labels, shapes and sizes of water bottles, is the most impressive in the market. In today's health-conscious society, private label bottled water is an effective and highly desirable vehicle to promote businesses. Because Boreal provides a turnkey project, it is able to offer its service to almost every type of corporate customer.

Production Facilities -- Boreal Water Collection plans to develop a national network of bottled water production facilities through an aggressive acquisition program and via selective joint ventures.

Distribution network -- Boreal Water Collection, with its acquired know-how and its exclusive product offering, will expand by selling distribution licenses to selected well-established distributors, in addition to developing its own national corporate accounts.

About Saint-Élie

Les Sources Saint-Élie Inc. is a leading producer of high-end, private label bottled water in Eastern Canada. Saint-Élie offers a variety of bottle sizes: 18.9L, 11L, 4L, 1.5L, 1L, 500ml, and 410ml. From a concept right through to the application, Saint-Élie can assist your company in attaching its name to its naturally pure and healthy product. Saint-Élie water is naturally filtered for over 60 years through a very hard natural crystalline rock shield, hence giving it a superior level of purity and taste.

Les Sources Saint-Élie Inc. was honoured with the prestigious "Superior Taste Award 2007" for its quality and superior taste of its certified natural spring water. This international recognition is given by the International Taste and Quality Institute, a Belgium organisation of Europe's leading chefs and sommeliers dedicated to judging and honouring superior tasting food and beverages. Products are evaluated by panels of renowned European Chefs and Sommeliers, members of the 11 most prestigious European culinary organizations such as the Maitres Cuisiniers de France, Academia Espanola de Gastronomia, Federazione Italiana Cuochi, Verband der Koche Deutschlands, Maitre Cuisiniers de Belgique, and Association de la Sommellerie Internationale. The blind test centered around five criteria: visual aspect, aroma, taste, texture and overall assessment.

For more information on Canadian Blue Gold, please visit the Company corporate Web site at www.borealwater.com and/or www.saintelie.com and/or contact Canadian Blue Gold's Investor Relations firm Equiti-trend Advisors. Representatives are available on market days from 9:30 a.m. to 5:30 p.m. EST by calling (800) 953-3350.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

Contact Information

  • Contact:

    Equiti-trend Advisors LLC
    (800) 953-3350 U.S. and Canada
    (858) 436-3350 Local