WHITCHURCH STOUFFVILLE, Canada--(BUSINESS WIRE)--Blue Planet Environmental Inc. ( FWK, Stock Symbol -9BP) is pleased to announce that, on December 2, 2011 it entered into a Stock Purchase Agreement (the 'SPA') with BPE Marketing Services LLC ('BPE'), providing for an equity investment of up to $3,000,000 USD (Three Million USD) .'BPE' is incorporated in the state of Delaware, whose founding members are Richard Zietz and Jeffrey Tucker. In addition, Blue Planet Environmental has also signed an exclusive Marketing Services Agreement with 'BPE', as of the same date, regarding the exclusive world-wide marketing, distribution and licensing of Blue Planet's commercial technology and products for new applications.
Pursuant to the 'SPA', a $2,000,000 USD equity investment (Two Million USD) is to be made in four tranches of $500,000 USD (Five Hundred Thousand USD) at the 6-month, 9-month, and 12-month anniversary of the first tranche close of 2,433,522 shares which occurred contemporaneously with the execution of the aforesaid agreements. An additional $1,000,000 USD may be provided by 'BPE', their affiliates, or by others, in accordance with the 'SPA'.
Blue Planet Environmental Inc. was represented in the matter by Minden Gross LLP of Toronto, Ontario; BPE Marketing Services LLC was represented by the New York and Chicago offices of Seyfarth & Shaw LLP. The proceeds of the equity investment will be used to facilitate the company's strategic plan to enhance the commercialization of its products utilizing nano-bubble gas infusion-into-water technology. These funds will provide the necessary capital to Blue Planet Environmental Inc. to continue to develop and test, innovative and practical applications to improve water quality and usage, while increasing the production of food in a healthy and chemical-free environment.
Richard Zietz, Co-Founder of BPE Marketing Services LLC, has noted: "We are very excited to be working with Blue Planet Environmental. We strongly believe their technology and products can significantly change for the better the ways in which we grow our food in safe, healthy and sustainable environments. Our experience in both the private and public sectors, along with our network of contacts will expand Blue Planet's presence in the commercial marketplace, and assist Blue Planet to meet its strategic goals which combine water conservation and purification with increased crop and fish yields."
Richard Lonetto, President and Director of Blue Planet Environmental Inc., has stated: "BPE Marketing Services LLC is the perfect strategic partner for the Company. By providing capital, an experienced sales and marketing team, and senior management, Blue Planet Environmental Inc. now has the resources to enter a new and rewarding phase of development in the marketplace."
FORWARD-LOOKING SAFE-HARBOUR STATEMENT A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development, and market acceptance conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results that Blue Planet Environmental Inc. (9BP) may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
Contact: Richard Lonetto, President
r.lonetto@blueplanetenviro.com
16431
Kennedy Rd.
Whitchurch Stouffville, ON.
L3Y 4W1
Canada