Blue Fyre One Inc.

May 20, 2005 16:29 ET

Michael J. Gaffney, CEO of Blue Fyre One Inc., Announces Initial Public Offering Selling Period Extension

OTTAWA, ONTARIO--(CCNMatthews - May 20, 2005) - Michael J. Gaffney announced today that Blue Fyre One Inc. has received approval to amend its Prospectus to extend the selling period for the IPO another sixty days.

Blue Fyre One Inc. ("Blue Fyre"), a Capital Pool Corporation ("CPC"), is a soon to be public venture capital company that is looking to invest, and take public, a small to medium sized company in the Ottawa area.

"We believe that the venture capital market in the Ottawa area is ripe for public venture capital," said Michael J. Gaffney, CEO.

"Blue Fyre hopes to complete its IPO in the next sixty days and complete its Qualifying Transaction sometime in the next year or so, "said Gaffney

About Blue Fyre:

Blue Fyre was founded in the summer of 2004 by six directors. The directors are all angel investors and some are members of the Ottawa Angel Alliance, The Purple Angels and the Band of Scoundrels; Michael Gaffney, Mark Lawrence, Neil Milton, E.A. Clarke, Rainer Paduch and Laurie Davis are the directors.

Blue Fyre expects to raise $600,000 from its IPO and complete a private placement at the time of acquisition to meet the cash needs of its target Qualifying Transaction.

Contact Information

  • Blue Fyre One Inc.
    Michael Gaffney
    (613) 270-7911
    (613) 797-6744 (Cell)
    http://www.mgaffney@sympatico.ca