Ottawa-based BluMetric Environmental Inc. announced this week that, subject to approval by the TSX Venture Exchange, the company will undertake a plan to exchange up to $154,000 of certain existing debt for up to 550,000 common shares of the company.
BluMetric Environmental a multidisciplinary wastewater equipment manufacturing company with offices throughout North America. The company’s water division focuses on Design-Build Industrial wastewater treatment systems with a broad base of industrial companies, including mining, oil and gas, electricity generation, and landfill companies. BluMetric’s serves clients in Canada, the United States, and Central America.
The conversion price of the shares is $0.24 and the company expects to close on or about October 15, 2017.
All the securities issuable in connection with the transaction will be subject to a hold period ending four months and one day after the closing date.
“This proposed shares-for-debt exchange is one of a number of steps that we have taken and will continue to take to improve our balance sheet and debt position. We thank these participants and those in the past for their ongoing support of BluMetric,” said Roger Woeller, CEO of BluMetric.
The stock is currently promoted via a paid Pennystock campaign at http://www.americanwaterbaron.com/.
For more information, visit www.blumetric.ca