MLB Industries Inc.
CNSX : BMP

MLB Industries Inc.

May 02, 2011 16:06 ET

MLB Provides Update on Etiah H. Enterprises Transaction

CALGARY, ALBERTA--(Marketwire - May 2, 2011) -

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

MLB Industries Inc. (the "Corporation" or "MLB") (CNSX:BMP) today provided shareholders with an update of the status of the proposed transaction with Etiah H. Enterprises Inc. ("Etiah"). MLB previously announced entering into a non-binding letter of intent between the Corporation and Etiah (the "Letter of Intent") in its press release dated January 8, 2010.

By mutual agreement, the Corporation and Etiah have allowed the Letter of Intent to expire in favour of pursuing an alternative transaction structure. It is contemplated that as soon as is practicably possible, the Corporation and Etiah will enter into a new relationship for the purpose of following through with the parties' original intention of facilitating Etiah's transition to reporting issuer status.

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 MLB 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 completion of any proposed transaction, on the terms as disclosed or at all, the ability of each of MLB and Etiah to successfully satisfy the conditions precedent to the completion of the proposed transaction, the availability of capital to MLB and Etiah to fund their operations, and risks, uncertainties and other factors that are beyond the control of MLB or Etiah, risks associated with MLB'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 MLB 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 MLB contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the cautionary statements contained in any statement incorporated herein by reference.

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 MLB 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 laws.

Contact Information

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