Blue Fyre One Inc.

June 02, 2005 16:53 ET

Michael J. Gaffney, CEO of Blue Fyre One Inc. Announces Timelines for Filing an Amendment to its Initial Public Offering Prospectus

OTTAWA, ONTARIO--(CCNMatthews - June 2, 2005) - Michael J. Gaffney today announced that Blue Fyre One Inc. ("Blue Fyre"), a Capital Pool Company ("CPC") under the policies of the TSX Venture Exchange Inc., is expected to file an amendment to its initial public offering ("IPO") prospectus within ten business days. The decision to amend the prospectus to extend the selling period for the IPO was previously announced on May 20, 2005.

The auditors of Blue Fyre are currently updating the financial statements for the prospectus and reviewing the amendments to the prospectus. The amended prospectus must be approved by the relevant securities commissions. If such approval is obtained, the selling period for the IPO will extend sixty days from the date of the issuance of a receipt by the relevant securities commissions for the prospectus amendments.

Blue Fyre expects to raise $600,000 from its IPO.

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.

Contact Information

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