Blue Industries Raises $470,000 in Fourth Quarter Private Placements.Business Editors PRINGY, France--(BUSINESS WIRE)--Feb. 4, 2003 Blue Industries, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BLIIV) announced today that it sold 235,670 shares of its post reverse split common stock in private placement transactions during the fourth quarter of 2002. The Company received net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of $471,340, or $2 per share, in connection with these stock sales. Commenting on the private placements, which were completed at a substantial premium to the prevailing market prices, the Company's president Patrick Gouverneur said, "We are delighted that a significant number of investors have been willing to pay premium to purchase our shares in private transactions during a period when the market had not fully responded to our 1 share for 20 reverse split and our decision to exit from the DTC DTC See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). system." The Company completed its exit from the DTC system in January of this year and currently trades on a "certificate only" or "custody only" basis. About Blue Industries Blue Industries is a global leader in the field of safe drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. . The company's water treatment products are based on patented technologies that make it possible to offer drinking water processing facilities to an end user at an installed capital cost of less than fifty cents per gallon gallon: see English units of measurement. of daily capacity. Depending on configuration, the company's current products can process between 1,500 and 15,000 gallons per day. The Company currently serves customers in China, Thailand, Cambodia and Middle East, and is conducting on-site demonstrations in Africa. The Company's goal is to provide enabling technologies and products to satisfy the growing global demand for safe water in domestic, industrial, and agricultural applications. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. |
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