Montreal, QC, August 28, 2009 – Blue Note Mining Inc. (“Blue Note”) is pleased to report that following its successful restructuring, Blue Note’s common shares (the “Common Shares”) will be listed on the TSX Venture Exchange as of the opening of trading on September 1st, 2009 under its new trading symbol “BNT”. The previously announced 1:30 consolidation of the Common Shares will take effect then.
Blue Note is sending a letter of transmittal to its registered shareholders indicating the procedure to follow in order to exchange their current share certificates for new post-consolidation share certificates. Shareholders should follow the procedure outlined in that letter to receive their new share certificates. Additional copies of the letter may be obtained by contacting CIBC Mellon Trust Company by phone at 1-800-387-0825 or, in Toronto, at 1‑416-643-5500 or by email at email@example.com.
In connection with Blue Note’s plan of arrangement approved by the Superior Court of Quebec on August 4, 2009 (the “Plan”), Blue Note has issued 14,847,649 Common Shares to PricewaterhouseCoopers Inc. (the “Monitor”) as monitor under the Plan, representing 31.43% of the outstanding Common Shares. In accordance with the Plan, the Monitor will sell those Common Shares in an orderly fashion and remit the proceeds to certain creditors of Blue Note, the whole as described more fully in the Plan. Following implementation of the Plan, Blue Note will have 47,240,066 shares outstanding on a post-consolidation basis.
In accordance with the requirements of Regulation 45-102 respecting Resale of Securities, the Monitor will not sell any Common Shares before December 29, 2009. Thereafter, Blue Note’s quarterly news releases issued in connection with its interim and annual financial statements shall disclose the number of Common Shares the Monitor then holds.
The Monitor has entered into a voting trust agreement with respect to the Common Shares. Under that agreement, the Monitor may not exercise any voting rights attached to the Common Shares it holds in trust, nor receive any dividends declared or any remaining property of Blue Note upon dissolution.
A copy of the early warning report to be filed may be obtained by contacting Blue Note as per the contact information below.
For more information, please contact:
President & Chief Executive Officer
Blue Note Mining Inc.
Forward-Looking Statements: This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the
expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."