BlueStar to Acquire Battery Operations in British Columbia.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Nov. 13, 1997-- BlueStar Battery Sys(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :BHW BHW Beamten Heimstätten Werk (German Building Society) BHW Boiler Hot Water BHW Brick Headwall BHW Blackman-Harris Window Function BHW Binary Halfword .) BlueStar Battery Systems International Corp. ("BlueStar") announces that it has signed a letter of intent to acquire National Battery (Victoria) Limited ("NBV NBV Net Book Value NBV Nykterhetsrörelsens Bildningsverksamhet (Swedish: Educational activityof the Sobriety Movement) NBV National Bank of Vanuatu NBV Nothing But Volleyball NBV Navigation-Based Vehicle speed NBV Non Bus Vectored "), a wholesale battery distribution company located in Victoria, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . In July of 1997, NBV expanded its premises to include a storefront for the consolidation and merchandising of over 6,000 battery related products for the commercial, industrial and consumer market, under the "Battery Direct" banner. Upon completion of the transaction, BlueStar, will acquire a 100 percent equity ownership in NBV. Under the terms of the letter of intent, initial consideration of $300,000 will be paid in BlueStar common shares, to be issued in three installments over two years at the prevailing market price of the shares when issued. Based on meeting certain performance criteria and established profitability formulae, the vendors can earn additional BlueStar common shares. The transaction is contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent the completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , regulatory approvals and the execution of definitive agreements. The principals of the company, Dale and Pat Pearson will remain with the company to become part of the growing BlueStar management team. In addition, BlueStar today is further pleased to announce that it has completed the acquisitions of Manitoba based National Battery (Winnipeg) Limited and Interior Battery Corporation located in British Columbia. These acquisitions were previously announced on July 17, 1997 and June 25, 1997 respectively. The acquisitions add to the growing network of battery distribution operations in Canada and BlueStar will continue to seek market opportunities that will further expand its reach in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. battery market. BlueStar is a Canadian-based developer, specialized manufacturer, assembler and marketer of a wide range of battery products sold in the international market place. BlueStar currently distributes in excess of 6,000 different battery products. BlueStar expects its product lines to expand through its continued research and development efforts and the expansion of its sales, marketing and distribution networks. Since March, BlueStar has expanded its North American coast to coast sales, marketing and distribution centers to more than 110 locations. -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: BlueStar Battery Systems International Corp. Greg Agar Agar, in the Bible Agar (ā`gər), the same as Hagar. agar, substance obtained from seaweed agar (ä`gär, ā`–, ăg`är) , 604/681-0363 1-800-806-5611 or Darwin Sauer, 604/ 543-4350 |
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