MLB Industries Inc.
CNSX : BMP

MLB Industries Inc.

July 14, 2010 21:03 ET

MLB Industries Inc.: Cease Trade Orders Revoked

CALGARY, ALBERTA--(Marketwire - July 14, 2010) -

(NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES)

MLB Industries Inc. (the "Corporation") (CNSX:BMP) is pleased to announce that it has received orders from each of the British Columbia Securities Commission (the "BCSC"), the Alberta Securities Commission (the "ASC") and the Ontario Securities Commission (the "OSC") dated effective July 14, 2010, that grant full revocation of the cease trade orders previously issued by the BCSC, the ASC and the OSC in effect against the Corporation dated March 5, 2008, March 4, 2008 and March 18, 2008 respectively. 

On May 19, 2010, the Corporation applied to each of the BCSC, the ASC and the OSC for full revocation of the cease trade orders. The Corporation has filed its annual audited consolidated financial statements and revised management discussion and analysis for the annual periods ended October 31, 2008 and October 31, 2009, together with the interim unaudited consolidated financial statements and revised management discussion and analysis for the interim periods ending January 31, 2010 and April 30, 2010. Accordingly, the Corporation is no longer in default under the securities laws of British Columbia, Alberta or Ontario, the only three jurisdictions where it is a reporting issuer.

As disclosed in its press releases dated January 8, 2010 and June 30, 2010, the Corporation continues to work towards completing a merger with Etiah H. Enterprises Inc. ("Etiah") as contemplated by the letter of intent between the Corporation and Etiah (the "LOI"). In addition, the Corporation expects to make an application to re-commence trading on the CNSX in connection with the proposed merger.

Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Corporation as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to the entering into of a definitive agreement as contemplated by the LOI, satisfaction by both parties of the results of due diligence and valuation of the Corporation and Etiah, the ability of each of the Corporation and Etiah to successfully satisfy the conditions precedent to the completion of the merger including any required financing in relation thereto, the availability of capital to the Corporation and Etiah to fund their operations, and risks, uncertainties and other factors that are beyond the control of the Corporation or Etiah, risks associated with the Corporation's and Etiah's industries in general, and the uncertainty of estimates and projections of sales, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although the Corporation believes that the expectations reflected in the forward-looking statements set out in this News Release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Corporation contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement. 

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities of MLB in any jurisdiction. The securities of the Corporation have not been registered under the Securities Act of 1933, as amended (the "1933 Act") and may not be offered or sold in the United States absent registration or an applicable exemption therefrom under the 1933 Act and applicable state securities law.

The CNSX has in no way approved nor disapproved the contents of this press release.

Contact Information

  • MLB Industries Inc.
    Mr. Nathan Hansen
    President and Chief Executive Officer
    (250) 683-8957